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

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  • 231 Pages
  • September 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4763878
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).

Key Highlights

  • The major factors driving the market's growth 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 act 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.
  • Asia-Pacific dominated the global market, with the largest consumption seen in China, Japan, and India.

Key Market Trends

Metallurgy Segment to Drive the Market

  • Graphite is used in several forms in metallurgical applications, 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 sources.
  • The rising crude steel and aluminum production globally is expected to drive the application of synthetic graphite in metallurgical applications. However, irregular trends in producing 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, 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, global aluminum production was estimated at 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.

Asia-Pacific Region to Dominate the Market

  • The Asian-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, paving the way for synthetic graphite's market growth.
  • China is one of the largest graphite manufacturers globally, mainly due to the immense demand from budding sectors like lithium-ion battery, 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, and According to BloombergNEF (BNEF), the country ranked first in the lithium-ion battery supply chain for 2021. The country is estimated to have control of 80% of the global 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, and 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 abovementioned factors, the demand for synthetic graphite is expected to increase in Asia-Pacific during the forecast period rapidly.

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 KK (including SGL Carbon), Beiterui New Material Group Co. Ltd, GrafTech International, Shanshan Technology, and Lianyungang Jinli Carbon Co. Ltd.

Additional benefits of purchasing this report:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Drivers
4.1.1 Increasing Demand for Electric Vehicles
4.1.2 High Purity Levels of Synthetic Graphite
4.2 Restraints
4.2.1 Increasing preference to Natural Graphite
4.2.2 Stringent Environmental Regulations
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Regulatory Policies
4.6 Patent Analysis
4.7 Production Analysis
5.1 By Type
5.1.1 Graphite Anode
5.1.2 Graphite Block (Fine Carbon)
5.1.3 Other Types
5.2 By Application
5.2.1 Metallurgy
5.2.2 Parts and Components
5.2.3 Batteries
5.2.4 Nuclear
5.2.5 Other Applications
5.3 By Geography
5.3.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.3.2 North America United States Canada Mexico
5.3.3 Europe Germany United Kingdom Italy France Rest of Europe
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Asbury Carbons
6.4.2 Beiterui New Material Group Co. Ltd
6.4.3 Shanshan Technology
6.4.4 Shenzhen Sinuo Industrial Development Co. Ltd
6.4.5 Mitsubishi Chemical Corporation
6.4.6 Imerys Graphite & Carbon
6.4.7 Mersen Corporate Services SAS
6.4.8 Graphit Kropfmhl GmbH
6.4.9 Shamokin Carbons
6.4.10 Showa Denko KK
6.4.11 Jiangxi Zichen Technology Co. Ltd
6.4.12 GrafTech International
6.4.13 Lianyungang Jinli Carbon Co. Ltd
6.4.14 Nippon Carbon Co. Ltd
6.4.15 Graphite India Limited
7.1 Growing Popularity of Graphene
7.2 Other Opportunities



Companies Mentioned

A selection of companies mentioned in this report includes:

  • Asbury Carbons
  • Beiterui New Material Group Co. Ltd
  • Shanshan Technology
  • Shenzhen Sinuo Industrial Development Co. Ltd
  • Mitsubishi Chemical Corporation
  • Imerys Graphite & Carbon
  • Mersen Corporate Services SAS
  • Graphit Kropfmhl GmbH
  • Shamokin Carbons
  • Showa Denko K.K.
  • Jiangxi Zichen Technology Co. Ltd
  • GrafTech International
  • Lianyungang Jinli Carbon Co. Ltd
  • Nippon Carbon Co. Ltd
  • Graphite India Limited