Synthetic Graphite Material Market Report 2026

The synthetic graphite material market size has grown strongly in recent years. It will grow from $8.04 billion in 2025 to $8.63 billion in 2026 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to rising demand for graphite electrodes in steelmaking, growth of automotive and electronics sectors, adoption of carbon fibers in industrial applications, expansion of battery production for consumer electronics, development of specialty graphite for lubricants and refractories.

The synthetic graphite material market size is expected to see strong growth in the next few years. It will grow to $11.33 billion in 2030 at a compound annual growth rate (CAGR) of 7%. The growth in the forecast period can be attributed to increasing demand for lithium-ion batteries, growth in fuel cell and energy storage applications, rising aerospace and high-performance electronics requirements, expansion of advanced composites industry, increasing use of graphene and artificial graphite blocks. Major trends in the forecast period include high-purity synthetic graphite production, advanced carbon fiber integration, graphite materials for energy storage applications, custom graphite products for industrial use, improved thermal and electrical conductivity of graphite.

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 companies operating in the synthetic graphite material market report 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., Jilin Carbon Co. Ltd.

North America was the largest region in the synthetic graphite material market in 2025. The regions covered in the synthetic graphite material market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the synthetic graphite material market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

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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