Synthetic Graphite Market Surges Ahead with a Projected Value of $4.16 Billion by 2028: Key Drivers and Trends Unveiled

Dublin, Nov. 08, 2023 (GLOBE NEWSWIRE) -- The "Synthetic Graphite Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to's offering.

The global synthetic graphite market is set to witness substantial expansion, with an estimated value of USD 2.99 billion in 2023, projected to reach USD 4.16 billion by 2028, reflecting a compelling compound annual growth rate (CAGR) of 6.83% during the forecast period of 2023-2028.

After facing setbacks due to the COVID-19 pandemic, the market has rebounded and is expected to continue its upward trajectory in 2022.

Key Highlights:

  • Market Drivers: The market's growth is propelled by the exceptional purity levels of synthetic graphite and the surging demand for electric vehicles (EVs), where synthetic graphite plays a vital role in batteries.
  • Challenges: Challenges such as higher costs compared to natural graphite and stringent environmental regulations pose obstacles to the market's growth.
  • Metallurgy Dominance: The metallurgy segment reigns supreme in the application landscape of the market and is anticipated to maintain its dominance throughout the forecast period.
  • Asia-Pacific Leadership: The global market is predominantly led by the Asia-Pacific region, with China, Japan, and India emerging as major consumers.

Synthetic Graphite Market Trends:

  • Metallurgy Segment Drives Growth: Graphite, in various forms, finds extensive use in metallurgical applications, including electrodes, refractories, and crucibles. Synthetic graphite, particularly in the form of electrodes, is a critical component in the production of steel, ferroalloys, and aluminum. The increasing production of steel and aluminum globally is expected to fuel the demand for synthetic graphite in metallurgical applications.
  • China's Dominance: China holds a commanding position in the Asia-Pacific region and the global synthetic graphite market. The country is a major consumer and producer of synthetic graphite, driven by robust demand in sectors like lithium-ion batteries, electronics, steel production, solar energy, and nuclear industries. China's prominence in the lithium-ion battery market and its ambitious battery production plants contribute significantly to synthetic graphite's growth.
  • Global Influence: China's influence extends globally, with the country accounting for a substantial portion of global graphite production in 2022. Government policies, a vast manufacturing base, and rising battery demand have propelled China to the forefront of the lithium-ion battery supply chain. It is estimated that China controls 80% of global battery cell manufacturing and is on track to produce 2 terawatt-hours (TWh) of batteries within five years.

Key Topics Covered:




4.1 Drivers
4.1.1 Increasing Demand for Electric Vehicles
4.1.2 Growing Utilization of Electric ARC Furnace Process for Steel Production
4.2 Restraints
4.2.1 Stringent Environmental Regulations
4.2.2 Decreasing Production of Steel
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.5 Raw Material Analysis
4.6 Regulatory Policies
4.7 Technology Landscape - Quick Snapshot
4.8 Production Analysis

5 MARKET SEGMENTATION (Market Size in Value and Volume)
5.1 Type
5.1.1 Graphite Anode
5.1.2 Graphite Block (Fine Carbon)
5.1.3 Other Types (Graphite Electrode, etc.)
5.2 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 Geography

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Major Players
6.4 Company Profiles
6.4.1 Asbury Carbons
6.4.2 BTR New Materials Group Co. Ltd
6.4.3 GrafTech International
6.4.4 Graphit Kropfmhl GmbH
6.4.5 Graphite India Limited
6.4.6 Imerys
6.4.7 Jiangxi Zichen Technology Co. Ltd
6.4.8 Lianyungang Jinli Carbon Co. Ltd
6.4.9 Mersen Property
6.4.10 Mitsubishi Chemical Corporation
6.4.11 Nippon Carbon Co. Ltd
6.4.12 Shamokin Carbons
6.4.13 Shanghai Shanshan Technology Co. Ltd
6.4.14 Shenzhen Sinuo Industrial Development Co. Ltd
6.4.15 Resonac Holdings Corporation (Showa Denko KK)
6.4.16 Tokai Cobex GmbH

7.1 Growing Popularity of Graphene
7.2 Biographite as a Sustainable Resource for Battery Material

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Synthetic Graphite Market Synthetic Graphite Market Volume C A G R By Application Global 2022 2027