Synthetic Graphite Material Global Market Report 2025

The synthetic graphite material market size has grown strongly in recent years. It will grow from $7.49 billion in 2024 to $8.04 billion in 2025 at a compound annual growth rate (CAGR) of 7.4%. The growth during the historic period can be credited to the rise in electric vehicle (EV) adoption, increased demand for renewable energy storage, expansion in lithium-ion battery production, higher steel production through electric arc furnaces (EAF), and growth in the aerospace and defense industries.

The synthetic graphite material market size is expected to see strong growth in the next few years. It will grow to $10.59 billion in 2029 at a compound annual growth rate (CAGR) of 7.1%. The projected growth in the forecast period is driven by the growing need for high-performance materials, increased demand from the automotive industry, rising interest in lightweight materials, expansion of 5G infrastructure, and greater demand for high-temperature applications. Key trends anticipated in the forecast period include advancements in binder-free electrode manufacturing, a focus on EV and energy storage uses, improved purification methods, development of graphite anodes for EVs, and innovation in bio-based binders and additives.

The increasing demand for consumer electronics is expected to drive the growth of the synthetic graphite material market in the future. Consumer electronics include electronic devices designed for daily personal use, focusing on entertainment, communication, and productivity. This sector is expanding due to rapid technological advancements that continually improve device functionality and user experience. Synthetic graphite materials contribute to consumer electronics by offering excellent thermal conductivity and electrical performance, which support more efficient and reliable device operation. For example, in May 2023, the Japan Electronics and Information Technology Industries Association reported that total consumer electronics production reached $291.81 million (¥32,099 million), up from $229.768 million (¥25,268 million) in May 2022. Hence, growing consumer electronics demand is fueling the synthetic graphite material market.

Leading companies in the synthetic graphite material market are developing innovative products like recycled graphite to improve sustainability and performance, particularly for electric vehicle (EV) batteries. Recycled graphite products are made by recovering and reprocessing graphite from used or waste materials. For instance, in April 2025, Vianode AS, a Norway-based battery materials company, introduced a new synthetic graphite anode material for sustainable EV battery production. This material reduces carbon emissions by over 90% to just 1.9 kg CO₂/kg, while offering faster charging, higher energy density, longer battery life, and a proprietary process that recovers both synthetic and natural graphite, reducing dependence on virgin resources and supporting a circular EV economy.

In April 2023, Mill Rock Capital, a US-based investment firm, acquired Asbury Carbons Inc. for an undisclosed sum. Through this acquisition, Mill Rock intends to build a leading advanced materials platform by utilizing Asbury Carbons’ expertise in carbon additive solutions, promoting innovation, expanding market presence, and accelerating growth in industrial additives and advanced materials. Asbury Carbons Inc. is a US-based provider of synthetic graphite materials.

Major players in the synthetic graphite material market are Mitsubishi Chemical Corporation, Resonac Holdings Corporation, IMERYS S.A., BTR New Material Group Co. Ltd., Ningbo Shanshan Co. Ltd., Tokai Carbon Co. Ltd., GrafTech International Ltd., Mersen S.A., SGL Carbon SE, Axon Graphite Ltd., Fangda Carbon New Material Co. Ltd., Graphite India Limited, Toyo Tanso Co. Ltd., HEG Limited, Nippon Carbon Co. Ltd., Northern Graphite Corporation, Novonix Limited, Mill Rock Capital, China Carbon Graphite Group Inc., and Jilin Carbon Co. Ltd.

North America was the largest region in the synthetic graphite material market in 2024. The regions covered in synthetic graphite material report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the synthetic graphite material market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Synthetic graphite material refers to a man-made form of graphite produced by high-temperature treatment of carbon-rich precursors, such as petroleum coke or coal tar pitch. It possesses a highly ordered crystalline structure similar to natural graphite, making it valuable for applications requiring excellent electrical conductivity, thermal stability, and chemical resistance.

The primary types of synthetic graphite material are graphite electrodes, carbon fibers, specialty graphite, graphite granular and powder, and others. Graphite electrodes are cylindrical rods made from synthetic or natural graphite used primarily in electric arc furnaces (EAF) to conduct electrical current into the furnace, generating the high temperatures needed to melt scrap steel or raw materials during steelmaking. These are used for various purity levels, including high purity, medium purity, and low purity. The various form factors include powder, granular, and bristle, and the various applications involved are batteries, refractories, lubricants, fuel cells, and composites, and they are used by several end users such as automotive, electronics, aerospace, energy, and consumer goods.

The synthetic graphite material market research report is one of a series of new reports that provides synthetic graphite material market statistics, including synthetic graphite material industry global market size, regional shares, competitors with a synthetic graphite material market share, synthetic graphite material market segments, market trends and opportunities, and any further data you may need to thrive in the synthetic graphite material industry. This synthetic graphite material market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The synthetic graphite material market consists of sales of carbon brushes, battery-grade synthetic graphite, and graphite crucibles and molds. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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