Synthetic Graphite Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Synthetic Graphite Market Report Segments the Industry by Application (Batteries, Metallurgy, and More ), Product Type (Graphite Anode, Graphite Block, and Other Types), End-User Industry (Automotive, Steel and Metals, Energy and Power, Electronics and Electrical, and More), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Synthetic Graphite Market Size and Share

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Synthetic Graphite Market Analysis by Mordor Intelligence

The synthetic graphite market size is valued at USD 3.41 billion in 2025 and is forecast to reach USD 4.74 billion by 2030, reflecting a 6.83% CAGR over 2025-2030. Demand is advancing because high-performance electric vehicles and grid storage batteries require anode materials that permit faster charging, longer range, and consistent cycle life. At the same time, electric-arc-furnace (EAF) steelmakers rely on graphite electrodes that tolerate 3,000 °C process temperatures, locking in a large volume baseline for the synthetic graphite market. Manufacturers also target small modular reactors' nuclear-grade components, pushing specialty grades into new revenue pools. Asia-Pacific dominates current production capacity and end-use consumption, while North America is mobilizing public-funded projects to build domestic supply chains. The dual pull of energy transition and metallurgical modernization keeps the synthetic graphite market expanding even though producers face cost inflation and mounting decarbonization pressure.

Key Report Takeaways

  • By application, metallurgy accounted for 49% of the synthetic graphite market size in 2024; batteries are poised for the fastest 8.39% CAGR during 2025-2030. 
  • By product type, the “Others” segment, led by electrodes and specialty forms, held 55% of the synthetic graphite market share in 2024, while the graphite anode sub-segment is set to grow at an 8.19% CAGR through 2030. 
  • By end-user industry, steel and metals commanded 60% of the synthetic graphite market share in 2024, whereas automotive applications are projected to register an 8.5% CAGR to 2030. 
  • By geography, Asia-Pacific led with 56% synthetic graphite market share in 2024 and is advancing at a 7.67% CAGR through 2030.

Segment Analysis

By Application: Batteries Narrow the Gap With Metallurgy

Metallurgy retained 49% of the synthetic graphite market size in 2024, underpinned by steady electrode consumption in long-cycle steel production. Each tonne of liquid steel in an EAF consumes 1.8-2.2 kg of electrodes, guaranteeing recurrent replacement demand. Yet batteries represent the fastest-growing application, posting an 8.39% CAGR outlook as EV and stationary storage installations rise. Battery demand is moving anode quality specifications higher, accelerating continuous-mixing and micron-level classification investments at synthetic graphite plants.

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Note: Segment shares of all individual segments available upon report purchase

By Product Type: Anode Growth Outpaces Established Segments

Graphite electrodes, blocks, and specialty shapes under the “Others” umbrella retained 55% of the synthetic graphite market share in 2024 because EAF steel production, semiconductor fixtures, and reflective coating lines require large volumes of heat-resistant carbon parts. However, the graphite anode sub-segment is capturing outsized investment, and the synthetic graphite market size for anodes is forecast to register an 8.19% CAGR from 2025 to 2030 as gigafactories scale worldwide. Electrode producers retrofit lines to supply spherical anode material, leveraging in-house coke calcination know-how and furnace assets.

By End-User Industry: Automotive Rise Challenges Steel Dominance

Steel and metals controlled 60% of the synthetic graphite market share in 2024 because EAF adoption feeds an enduring electrode requirement. Arc-furnace operations extend to stainless, long, and increasingly flat products, translating into multi-year contracted electrode volumes. The automotive sector is, however, the fastest-growing end-user, marked by an 8.5% CAGR, as every battery electric vehicle requires 50-60 kg of graphite anode material. Automakers are racing to secure low-carbon supply, prompting joint ventures and offtake contracts that are reshaping procurement norms.

The energy and power sector supplements growth with redox-flow and lead-acid enhancement projects that need synthetic graphite felts and plates. Meanwhile, electronics manufacturers count on high-purity graphite tooling for wafer processing, adding a diversified hedge in the synthetic graphite market against volatility in a single demand center.

Synthetic Graphite Market
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Note: Segment shares of all individual segments available upon report purchase

Geography Analysis

Asia-Pacific commands 56% of the synthetic graphite market and is expanding at a 7.67% CAGR through 2030, sustained by China’s 77% share of global graphite output in 2023 and regional EAF expansions[1]U.S. Geological Survey, “Mineral Commodity Summaries 2024,” pubs.usgs.gov. Beijing’s late-2023 export licensing regime for high-purity graphite has heightened supply-chain risk, motivating South Korean, Japanese, and Indian cell makers to secure alternative sources.

North America is experiencing an unprecedented re-shoring wave. The U.S. Department of Energy’s conditional USD 754 million loan to NOVONIX enables a 31,500-t pa Tennessee plant that can serve 325,000 EVs annually, reducing import reliance. Parallel research and development at the National Energy Technology Laboratory converts coal waste to battery-grade graphite at lower temperatures, hinting at a cost-competitive, vertically-integrated supply chain.

Europe focuses on sustainability leadership. Vianode’s renewable-powered pilot line in Norway records emissions of 1.9 kg CO₂ kg-¹ today and targets 1.0 kg by 2030. Germany and France are nurturing lignin-to-carbon programs that could introduce bio-based feedstocks, diversifying raw-material risk and reinforcing the synthetic graphite market’s low-carbon pivot.

Synthetic Graphite Market
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Competitive Landscape

The synthetic graphite market is moderately fragmented around three functional clusters: battery anode materials, EAF electrodes, and specialty blocks. Emerging battery-grade specialists like NOVONIX and Vianode compete on purity, particle-engineering capabilities, and life-cycle emissions. Strategic differentiation now rests on environmental credentials and production efficiency. Research pipelines explore lignin-derived carbon aerogels featuring 343 m² g-¹ surface area and interconnected porosity, suggesting future low-temperature pathways to synthetic-grade anode material[2]Frontiers in Chemistry, “Preparation and Characterization of Lignin-Derived Carbon Aerogels,” frontiersin.org .

Synthetic Graphite Industry Leaders

  1. Imerys

  2. BTR New Material Group Co., Ltd.

  3. GrafTech International

  4. Resonac Holdings Corporation

  5. Tokai COBEX GmbH

  6. *Disclaimer: Major Players sorted in no particular order
Synthetic Graphite Market - Market Concentration
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Recent Industry Developments

  • December 2024: NOVONIX secured a conditional commitment for a USD 754 million U.S. DOE loan to build a 31,500 t pa synthetic graphite facility in Tennessee
  • May 2024: Vianode received a EUR 30 million (~USD 34.56 million) grant to advance low-emission anode material production in Norway, enhancing its production capabilities for synthetic graphite used in battery technology.
  • February 2024: Panasonic Energy signed a binding agreement with NOVONIX for 10,000 t of synthetic graphite over 2025-2028 to reinforce its North American battery supply chain

Table of Contents for Synthetic Graphite Industry Report

1. Introduction

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. Research Methodology

3. Executive Summary

4. Market Landscape

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Increasing Demand for Electric Vehicles
    • 4.2.2 Growing Utilization of Electric ARC Furnace Process for Steel Production
    • 4.2.3 Faster-Charging Premium EV Models Requiring Ultra-High-Purity Anodes
    • 4.2.4 Surge in Ultra-High-Power EAF Installations in Asia and Middle East Africa
    • 4.2.5 Advanced Modular Reactors Reviving Nuclear-Grade Graphite Demand
  • 4.3 Market Restraints
    • 4.3.1 High Cost of Production of Graphite
    • 4.3.2 Price Gap with Natural Graphite Driving OEM Anode Blends
    • 4.3.3 Strict Environmental Regulations
  • 4.4 Value Chain Analysis
  • 4.5 Porter's Five Forces
    • 4.5.1 Bargaining Power of Suppliers
    • 4.5.2 Bargaining Power of Buyers
    • 4.5.3 Threat of New Entrants
    • 4.5.4 Threat of Substitutes
    • 4.5.5 Degree of Competition

5. Market Size and Growth Forecasts (Value and Volume)

  • 5.1 By Application
    • 5.1.1 Batteries
    • 5.1.2 Metallurgy
    • 5.1.3 Parts and Components
    • 5.1.4 Nuclear
    • 5.1.5 Others
  • 5.2 By Product Type
    • 5.2.1 Graohite Anode
    • 5.2.2 Graphite Block
    • 5.2.3 Other Types
  • 5.3 By End-User Industry
    • 5.3.1 Automotive
    • 5.3.2 Steel and Metals
    • 5.3.3 Energy and Power
    • 5.3.4 Electronics and Electrical
    • 5.3.5 Chemical and Petrochemical
    • 5.3.6 Aerospace and Defense
    • 5.3.7 Others
  • 5.4 By Geography
    • 5.4.1 Asia-Pacific
    • 5.4.1.1 China
    • 5.4.1.2 India
    • 5.4.1.3 Japan
    • 5.4.1.4 South Korea
    • 5.4.1.5 Indonesia
    • 5.4.1.6 Malaysia
    • 5.4.1.7 Thailand
    • 5.4.1.8 Vietnam
    • 5.4.1.9 Rest of Asia-Pacific
    • 5.4.2 North America
    • 5.4.2.1 United States
    • 5.4.2.2 Canada
    • 5.4.2.3 Mexico
    • 5.4.3 Europe
    • 5.4.3.1 Germany
    • 5.4.3.2 United Kingdom
    • 5.4.3.3 France
    • 5.4.3.4 Italy
    • 5.4.3.5 Spain
    • 5.4.3.6 Nordics
    • 5.4.3.7 Russia
    • 5.4.3.8 Rest of Europe
    • 5.4.4 South America
    • 5.4.4.1 Brazil
    • 5.4.4.2 Argentina
    • 5.4.4.3 Colombia
    • 5.4.5 Middle-East and Africa
    • 5.4.5.1 Saudi Arabia
    • 5.4.5.2 United Arab Emirates
    • 5.4.5.3 South Africa
    • 5.4.5.4 Nigeria
    • 5.4.5.5 Egypt
    • 5.4.5.6 Rest of Middle-East and Africa

6. Competitive Landscape

  • 6.1 Market Concentration
  • 6.2 Strategic Moves
  • 6.3 Market Share Analysis
  • 6.4 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share, Products and Services, and Recent Developments)
    • 6.4.1 Anovion LLC
    • 6.4.2 Asbury Carbons
    • 6.4.3 BTR New Material Group Co., Ltd.
    • 6.4.4 GrafTech International
    • 6.4.5 Graphit Kropfmühl GmbH
    • 6.4.6 Graphite India Limited
    • 6.4.7 HEG Limited
    • 6.4.8 Imerys
    • 6.4.9 Mersen
    • 6.4.10 Mitsubishi Chemical Group Corporation
    • 6.4.11 Nippon Carbon Co Ltd.
    • 6.4.12 NOVONIX Ltd.
    • 6.4.13 Resonac Holdings Corporation
    • 6.4.14 SGL Carbon
    • 6.4.15 Shanghai PTL New Energy Technology Co., Ltd.
    • 6.4.16 Shanghai Shanshan Technology Co., Ltd.
    • 6.4.17 Superior Graphite
    • 6.4.18 Tokai COBEX GmbH
    • 6.4.19 Vianode

7. Market Opportunities and Future Outlook

  • 7.1 White-Space and Unmet-Need Assessment
  • 7.2 Bio-graphite as a Sustainable Resource for Battery Material
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Global Synthetic Graphite Market Report Scope

Synthetic graphite, or artificial graphite, is produced by subjecting carbon-rich materials, like petroleum coke, coal tar, or natural gas, to high-temperature treatments. In this process, these materials are heated to temperatures exceeding 2500°C, all while being shielded from oxygen. This meticulous treatment leads to the development of a crystalline structure that closely resembles that of natural graphite.

The synthetic graphite market is segmented by type, application, and geography. By type, the market is segmented into graphite anode, graphite block (fine carbon), and other types (graphite electrode, etc.). By application, the market is segmented into metallurgy, parts and components, batteries, nuclear, and other applications. The report also covers the market sizes and forecasts for the global synthetic graphite market in 27 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of value (USD). 

By Application Batteries
Metallurgy
Parts and Components
Nuclear
Others
By Product Type Graohite Anode
Graphite Block
Other Types
By End-User Industry Automotive
Steel and Metals
Energy and Power
Electronics and Electrical
Chemical and Petrochemical
Aerospace and Defense
Others
By Geography Asia-Pacific China
India
Japan
South Korea
Indonesia
Malaysia
Thailand
Vietnam
Rest of Asia-Pacific
North America United States
Canada
Mexico
Europe Germany
United Kingdom
France
Italy
Spain
Nordics
Russia
Rest of Europe
South America Brazil
Argentina
Colombia
Middle-East and Africa Saudi Arabia
United Arab Emirates
South Africa
Nigeria
Egypt
Rest of Middle-East and Africa
By Application
Batteries
Metallurgy
Parts and Components
Nuclear
Others
By Product Type
Graohite Anode
Graphite Block
Other Types
By End-User Industry
Automotive
Steel and Metals
Energy and Power
Electronics and Electrical
Chemical and Petrochemical
Aerospace and Defense
Others
By Geography
Asia-Pacific China
India
Japan
South Korea
Indonesia
Malaysia
Thailand
Vietnam
Rest of Asia-Pacific
North America United States
Canada
Mexico
Europe Germany
United Kingdom
France
Italy
Spain
Nordics
Russia
Rest of Europe
South America Brazil
Argentina
Colombia
Middle-East and Africa Saudi Arabia
United Arab Emirates
South Africa
Nigeria
Egypt
Rest of Middle-East and Africa
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Key Questions Answered in the Report

How big is the synthetic graphite market in 2025?

The synthetic graphite market size is USD 3.41 billion in 2025 and is on track to exceed USD 4.74 billion by 2030 at a 6.83% CAGR.

Which region dominates synthetic graphite demand?

Asia-Pacific holds 56% of synthetic graphite market share thanks to China’s large-scale production capacity and expanding EAF steel and battery industries.

What drives the fastest growth segment in synthetic graphite?

Battery-grade anodes for electric vehicles represent the fastest-growing product segment, projected to expand at an 8.19% CAGR over 2025-2030.

How are producers lowering synthetic graphite’s carbon footprint?

Companies like Vianode employ closed furnaces powered by renewable electricity that cut production emissions by up to 90% compared to legacy methods.

Why do steelmakers rely on synthetic graphite?

Electric-arc furnaces consume graphite electrodes that conduct high currents and withstand extreme temperatures, making synthetic grades indispensable in decarbonized steelmaking routes.

Page last updated on: June 20, 2025

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