Synthetic Graphite Market | Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market is segmented by Type (Graphite Anode, Graphite Block, and Other Types), Application (Metallurgy, Parts and Components, Batteries, Nuclear, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for Synthetic Graphite in volume (kilo tons) for all the above segments.

Market Snapshot

Synthetic Graphite Market Overview
Study Period: 2017-2027
Base Year: 2021
Fastest Growing Market: Asia-Pacific
Largest Market: Asia Pacific
CAGR: 4.61 %
Synthetic Graphite Market Major Players

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Market Overview

The Global Synthetic Graphite Market was at 1,814.61 kilotons in 2021 and the market is projected to register a CAGR of over 4.21% during the forecast period (2022-2027). 

  • The major factors driving the growth of the market studied are the high purity levels of synthetic graphite and the increasing demand for electric vehicles.
  • On the flip side, the high costs compared to natural graphite and stringent environmental regulations are acting as a roadblock to the growth of the market studied.
  • Metallurgy dominated the application segment of the market, and it is expected to continue its dominance during the forecast period as well.
  • Asia-Pacific dominated the market across the globe, with the largest consumption seen in China, Japan, and India.

Scope of the Report

Synthetic graphite is an artificial substance manufactured by the high-temperature processing of amorphous carbon materials. The types of amorphous carbon used as precursors to graphite are many and can be derived from petroleum, coal, and natural or synthetic organic materials. The synthetic graphite market is segmented by type, application, and geography. By type, the market is segmented into Graphite Anode, Graphite Block, and Other Types. By application, the market is segmented into Metallurgy, Parts and Components, Batteries, Nuclear, and Other Applications. The report also covers the market size and forecasts for Synthetic Graphite Market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilo tons).

Type
Graphite Anode
Graphite Block (Fine Carbon)
Other Types
Application
Metallurgy
Parts and Components
Batteries
Nuclear
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Metallurgy Segment to Drive the Market

  • In metallurgical applications, graphite is used in several forms, such as electrodes, refractories, bricks, monolithic crucibles, etc.
  • During the production of steel or Ferro-alloys and aluminum, synthetic graphite is used as an anode in the electric arc furnace (EAF) method.
  • 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 ceramic materials, manufacturing chemicals, such as calcium carbide, and other applications that require high temperature and clean energy source.
  • The rising crude steel and aluminum production across the world is expected to drive the application of synthetic graphite in metallurgical applications. However, irregular trends in the production of these metals are expected to provide uncertainty to the market demand.
  • Synthetic graphite electrodes are made in various grades, like ultra-high power (UHP), high power (HP), and regular power (RP), based on electric current capability.
  • According to the World Steel Association, the world crude steel production increased from 1,735.09 million tons in 2017 to 1951.24 million tons in 2021.
  • According to the International Aluminum Institute, the global aluminum production was estimated around 63.40 million tons in 2017 and increased to 67.24 million tons.
  • Hence, based on the aspects mentioned above, with the increase in the production of major metals and alloys like steel and aluminum, synthetic graphite is also projected to increase, driving the market.
Synthetic Graphite Market Share

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region dominated the market studied, with more than 50% of the total market by volume with China being the key consumer in the region.
  • China continues to dominate synthetic graphite production and demand globally. Almost all stages of the lithium-ion battery manufacturing chain are focused on China. China is by far the largest and most rapidly growing market for lithium-ion batteries, which paves the way for the market growth of synthetic graphite.
  • China is one of the largest graphite manufacturers globally, mainly due to the immense demand from the budding sectors like lithium-ion battery production, electronics, steel production, the solar industry, and the nuclear industry. 
  • According to US Geological Survey, the country accounted for 820 thousand tons of graphite mine production in 2021. 
  • China’s battery manufacturers, led by CATL and BYD, supported by the government’s industrial expansion vision, are developing massive battery production plants.
  • Furthermore, China was the global leader in lithium-ion batteries in 2021, According to the BloombergNEF (BNEF), the country ranks first in the lithium-ion battery supply chain for 2021. The country is estimated to have control of 80% of the world’s battery cell manufacturing and within five years the production in the country is estimated to reach 2TWh. The rise in position is mainly due to encouraging government policies, a huge manufacturing base along with rising demand for batteries.
  • There are more than 40 official graphite electrode producers in China, with 30 more new players entering the market in the past two years, making other refractory products and electrodes.
  • Therefore, considering the factors mentioned above, the demand for synthetic graphite is expected to witness a rapid increase in Asia-Pacific during the forecast period.
Synthetic Graphite Market Analysis

Competitive Landscape

The global market for synthetic graphite is partially consolidated in nature. The top five players in the global synthetic graphite market include SHOWA DENKO K.K. (including SGL Carbon), Beiterui New Material Group Co. Ltd, GrafTech International, Shanshan Technology, and Lianyungang Jinli Carbon Co. Ltd.

Recent Developments

  • In June 2021, Imerys Graphite & Carbon Company opened a new plant in India. This strategy will help the company cater to emerging economies like India, China, etc. It is developed to expand the business of refractory and building and infrastructure and other product portfolios.
  • In January 2021, Showa Denko announced the merger between its consolidated subsidiaries, Showa Denko Carbon Holding GmbH (SDCH) and Showa Denko Europe GmbH (SDE). This merger will help expand its business operations in Europe further by fusing SDCH's business management and SDE's business support functions.
  • In January 2021, Imerys Graphite & Carbon developed two new primary synthetic graphite, KS6L and SFG6L. These product developments help to increase the company's product portfolio.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Electric Vehicles

      2. 4.1.2 High Purity Levels of Synthetic Graphite

    2. 4.2 Restraints

      1. 4.2.1 Increasing preference 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 Regulatory Policies

    6. 4.6 Patent Analysis

    7. 4.7 Production Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Graphite Anode

      2. 5.1.2 Graphite Block (Fine Carbon)

      3. 5.1.3 Other Types

    2. 5.2 Application

      1. 5.2.1 Metallurgy

      2. 5.2.2 Parts and Components

      3. 5.2.3 Batteries

      4. 5.2.4 Nuclear

      5. 5.2.5 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

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

    2. 6.2 Market Share(%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Asbury Carbons

      2. 6.4.2 Beiterui New Material Group Co. Ltd

      3. 6.4.3 Shanshan Technology

      4. 6.4.4 Shenzhen Sinuo Industrial Development Co. Ltd

      5. 6.4.5 Mitsubishi Chemical Corporation

      6. 6.4.6 Imerys Graphite & Carbon

      7. 6.4.7 Mersen Corporate Services SAS

      8. 6.4.8 Graphit Kropfmhl GmbH

      9. 6.4.9 Shamokin Carbons

      10. 6.4.10 Showa Denko K.K.

      11. 6.4.11 Jiangxi Zichen Technology Co. Ltd

      12. 6.4.12 GrafTech International

      13. 6.4.13 Lianyungang Jinli Carbon Co. Ltd

      14. 6.4.14 Nippon Carbon Co. Ltd

      15. 6.4.15 Graphite India Limited

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Popularity of Graphene

    2. 7.2 Other Opportunities

**Subject to Availability

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Frequently Asked Questions

The Synthetic Graphite Market market is studied from 2017 - 2027.

The Synthetic Graphite Market is growing at a CAGR of 4.61% over the next 5 years.

Asia-Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

GrafTech International, SHOWA DENKO K.K., Beiterui New Material Group Co. Ltd, Lianyungang Jinli Carbon Co. Ltd, Shanshan Technology are the major companies operating in Synthetic Graphite Market.

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