Synthetic Graphite Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Application (Metallurgy, Parts and Components, Batteries, Nuclear, and Other Applications) and Geography

Market Snapshot

Market Summary - Synthetic Graphite
Study Period:


Base Year:


Fastest Growing Market:

Middle East and Africa

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The synthetic graphite market is expected to register a CAGR of 4.17% during the forecast period, 2019 - 2024. Major factors driving the market studied are increasing demand for electric vehicles and high purity levels of synthetic graphite. High costs compared to natural graphite and stringent environmental regulations are expected to hinder the growth of the market studied.

  • Metallurgy dominated the application segment of the market in 2018, and it is expected to grow during the forecast period as well. Synthetic graphite electrodes are employed in metallurgical applications as a source of energy for the processes, including melting scrap iron in an electric furnace, refining of ceramic materials, manufacturing chemicals, such as calcium carbide, and other applications that require high temperature and clean energy source.
  • Growing popularity of graphene is likely to act as an opportunity in the future.
  • Asia-Pacific dominated the market across the globe, with the largest consumption seen in countries, such as China, Japan, and India.


Scope of the Report

The global synthetic graphite market includes:

Parts and Components
Other Applications
South Korea
ASEAN Countries
Rest of Asia-Pacific
Rest of Europe
North America
United States
Rest of North America
South America
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Increasing Demand for Batteries Applications

  • Synthetic graphite is used as the anode component in lithium-ion batteries. Although lithium is the best-known component of lithium-ion batteries, there is far more graphite than lithium in a battery. Battery anodes require coated spherical graphite at over 99.9% purity.
  • Battery is one of the few applications, where natural and synthetic graphite compete with each other. The battery manufacturers are shifting their focus toward natural graphite over synthetic graphite, in order to bring down the production costs.
  • The features of graphite, such as high surface area and layered crystal structure, make it suitable for use as an anode material into which the lithium ions are intercalated. Certain battery technologies require graphite to be almost 100% pure.
  • The growth in the sales of electronics and electric cars is expected to drive the sales of lithium-ion batteries, which, in turn, is expected to drive the consumption of synthetic graphite in the coming years.


Segmentation - Synthetic Graphite Market

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China to Dominate the Market in the Asia-Pacific Region

  • China continues to dominate synthetic graphite production and demand. Almost all stages of the lithium-ion battery manufacturing chain are focused on China, and China is by far the largest and most rapidly growing market for lithium-ion batteries, which has paved the way for the market growth of synthetic graphite.
  • The major application of synthetic graphite is in electrodes in the steel making industry. China holds the largest share in terms of consumption and production capacity of graphite electrodes in the global scenario.
  • China has produced nearly 520 thousand metric ton of graphite electrode, of which, nearly 62% was utilized for domestic consumption purposes.
  • On a brighter note, the capacity of electric arc furnaces has been increasing in recent times with an estimated increase of nearly 70 million metric ton in capacity in the beginning of 2019.
  • The government of China is also focusing on developing eco-friendly means of producing steel and it has lately announced its target to produce 20% of the country’s steel through electric arc furnace, by 2020. This marks a growth of the electric arc furnace capacity by three times, as compared to that of 2017.
  • The growing production of motor vehicles, along with the expanding residential construction industry, is expected to support the domestic demand for non-ferrous alloys and iron and steel, which will be a positive factor for the growth of the synthetic graphite demand in the coming years.


Regional - Synthetic Graphite  Market

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Competitive Landscape

The synthetic graphite market is consolidated. The top 5 players account for more than 75% of the market share. The major companies in the synthetic graphite market include Shanshan Technology, Shenzhen Sinuo Industrial Development Co. Ltd, BTR New Energy Materials Inc., Jiangxi Zichen Technology Co. Ltd, and Hitachi Chemical Co. Ltd.

Table of Contents


    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Electric Vehicles

      2. 4.1.2 High Purity Levels of Synthetic Graphite

      3. 4.1.3 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 High Costs Compared to Natural Graphite

      2. 4.2.2 Stringent Environmental Regulations

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Raw Material Analysis

    6. 4.6 Regulatory Policy Analysis


    1. 5.1 Application

      1. 5.1.1 Metallurgy

      2. 5.1.2 Parts and Components

      3. 5.1.3 Batteries

      4. 5.1.4 Nuclear

      5. 5.1.5 Other Applications

    2. 5.2 Geography

      1. 5.2.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. ASEAN Countries

        6. Rest of Asia-Pacific

      2. 5.2.2 Europe

        1. Germany

        2. France

        3. Italy

        4. UK

        5. Russia

        6. Rest of Europe

      3. 5.2.3 North America

        1. United States

        2. Canada

        3. Mexico

        4. Rest of North America

      4. 5.2.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.2.5 Middle East & Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle East & Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Asbury Carbons

      2. 6.4.2 BTR New Energy Material Ltd

      3. 6.4.3 Shanshan Technology

      4. 6.4.4 Shenzhen Sinuo Industrial Development Co. Ltd

      5. 6.4.5 Hitachi Chemical Co. Ltd

      6. 6.4.6 Mitsubishi Chemical Corporation

      7. 6.4.7 Imerys Graphite & Carbo

      8. 6.4.8 Lianyungang Jinli Carbon Co. Ltd

      9. 6.4.9 Mersen

      10. 6.4.10 Qingdao Kropfmuehl Graphite Co. Ltd

      11. 6.4.11 Shamokin Carbons

      12. 6.4.12 Showa Denko KK

      13. 6.4.13 Jiangxi Zichen Technology Co. Ltd

    5. *List Not Exhaustive

    1. 7.1 Growing Popularity of Graphene

    2. 7.2 Other Opportunities

**Subject to Availability

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