The global synthetic graphite market is estimated to be valued at USD 2,113.8 Mn in 2025 and is expected to reach USD 2,738.8 Mn in 2032, exhibiting a compound annual growth rate (CAGR) of 3.77% from 2025 to 2032.
The growth of synthetic graphite market can be attributed to the increasing demand for graphite from the automotive industry. The market is also expected to benefit from the growing popularity of electric vehicles. Moreover, the rise in the installation of solar power systems is further projected to propel market growth. A large portion of the global synthetic graphite is derived from the production of graphite electrodes. This product is primarily produced using calcined petroleum coke and coal tar pitch as primary raw materials.
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Global Electric Vehicle Revolution and Battery Demand Surge |
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China's Graphite Export Controls and Supply Chain Disruption |
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By application, the metallurgy sector is expected to capture the largest share of about 49% in the synthetic graphite market in 2025. The consumption of synthetic graphite in steelmaking-particularly in electric arc furnaces-continues to anchor demand with high thermal stability under extreme operating conditions.
Ongoing industrial growth and a worldwide switch to EAF steel production, which is less carbon-emitting compared to traditional blast furnaces, continue to drive the growth of the metallurgical segment. Synthetic graphite electrodes are indispensable in the process due to their ability to ensure consistent performance with energy efficiency.
For instance, in August 2025, Graphite India Ltd inked an MoU with the Maharashtra government to establish a synthetic graphite anode and electrode plant in Nashik, India.
By type, the "Other Types" segment, including graphite electrodes and specialty graphite, is anticipated to have 65.32% of the market share by 2025. Excellent thermal conductivity, electrical conductivity, and durability are just some of the reasons why such materials find broad applications in high-temperature and high-performance industries. Due to its versatility, this material is preferred for metallurgical, chemical, and advanced technological applications.
Graphite electrodes play an essential role in EAF steelmaking, which requires high heat resistance. Other specialized applications of graphite include batteries, semiconductors, and aerospace parts; all of these have to be manufactured to a great degree of precision together with material integrity.
For instance, in November 2025, Vianode announced a new synthetic graphite facility in Ontario, designed to produce both anode-grade and specialty graphite materials destined for EV batteries and industrial applications.
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The Asia Pacific is expected to continue its dominance in the synthetic graphite market with 55.12% of the overall market share by 2025, driven by strong demand from metallurgy, energy storage, batteries, and high-performance industrial applications. Large-scale production capacity in countries such as China, Japan, and South Korea is a result of a proper infrastructure for manufacturing, accessibility to raw materials, and advanced technologies to process graphite.
For instance, in October 2025, Epsilon announced to build 30,000-tonne synthetic graphite plant in India by 2026.
North America is expected to be the fastest-growing region in the synthetic graphite market during 2025. Increasing investments in the manufacturing of EV batteries, renewable energy storage, and strategic initiatives for supply chain localization fuel growth. New production plants for synthetic graphite are being set up to reduce import dependency and adhere to strict industrial standards. The U.S. and Canada are trying to follow sustainable methods of production, such as low-emission graphitization and recycling of used graphite, in agreement with environmental laws.
For instance, in November 2025, Vianode confirmed its plan to build a large-scale, low-emission synthetic anode graphite plant in St. Thomas, Ontario, Canada.
The United States is developing its domestic synthetic graphite industry at a fast pace. This supports the growth of electric vehicle industries along with energy storage. New facilities are being set up to scale up production and enhance the local supply chain as a way of reducing dependencies on imports. Demand is driven not just by battery applications, but also by metallurgy, high-temperature industrial processes, and specialty graphite products.
For instance, in January 2025, NOVONIX announced it will develop a new mass‑production synthetic graphite manufacturing plant in the Enterprise South Industrial Park in Chattanooga, Tennessee.
China continues to be the largest producer of synthetic graphite worldwide, with a fully integrated capability in its production from feedstock processing to anode manufacturing. Chinese companies are leading in the battery anode market, as well as in metallurgical and industrial applications, owing to cost efficiency and large-scale operations. The country's control over the supply chain makes it a strategic player in the global EV and energy storage industries.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2024 | Market Size in 2025: | USD 2,113.8 Mn |
| Historical Data for: | 2020 To 2024 | Forecast Period: | 2025 To 2032 |
| Forecast Period 2025 to 2032 CAGR: | 3.77% | 2032 Value Projection: | USD 2,738.8 Mn |
| Geographies covered: |
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| Companies covered: |
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, and others |
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The adoption of EVs and energy storage systems is increasing the demand for synthetic graphite, one of the major active materials in lithium-ion battery anodes. It is well known for its high purity, consistent structure, and excellent electrical conductivity, which are very important to achieve high energy density and long life cycles. As such, with the expanding sales of EVs and renewable energy storage installations globally, manufacturing investments in synthetic graphite are on the rise to meet the needs of the battery industry.
High purity synthetic graphite is widely used in various industrial applications. The usage of high purity graphite gives good results in the field of industrial manufacturing. In lubrication, conductivity, metallurgy, and other industrial production domains, high purity graphite is widely used. This includes the lithium battery industry, isotropic nuclear graphite industry, artificial diamond industry, military graphite bomb industry, and flexible graphite industry.
Growing investment in the field of research and development of graphite is expected to offer significant growth opportunities. For instance, the European Union invested USD 1.3 billion in the Graphene Flagship, a consortium of academic and commercial researchers. The UK government has provided GBP 235 million (USD 353 million) to fund a graphene research center.
Graphene is being increasingly used as a replacement material for silicon, which has started to show its age in the face of extremely rapid technological progress. This is expected to hold potential market opportunities for key players. In the coming next 10-25 years, graphene may replace silicon as the primary material in semiconductors.
The strategic realignment in the synthetic graphite market is driven by the surge in electrification and industrial modernization. The EV transition did not just increase demand for battery anodes but reshaped supply chains and technology adoption.
While industrial applications-like metallurgy-continue to anchor demand, even here firms are moving to more value-added synthetic graphite forms to improve furnace efficiencies and reduce the environmental footprint. Companies such as Graphite India Ltd. have been securing government partnerships for expanding anodes and electrode production for electric arc furnaces, signaling that regulatory alignment and strategic industrial investment are becoming competitive levers.
The market’s competitive dynamics are being shaped by technological sophistication, regional supply chain security, and regulatory pressure. Firms that integrate advanced synthetic routes, secure long-term battery supply contracts, and demonstrate environmental stewardship are establishing strategic moats.
*Definition: Graphite is a form of carbon that has a high electrical conductivity and can be used in a variety of applications. It is an important raw material for the production of batteries and other electrochemical devices. Moreover, it is also used in the manufacturing of friction products and lubricants.
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About Author
Vidyesh Swar is a seasoned Consultant with a diverse background in market research and business consulting. With over 6 years of experience, Vidyesh has established a strong reputation for his proficiency in market estimations, supplier landscape analysis, and market share assessments for tailored research solution. Using his deep industry knowledge and analytical skills, he provides valuable insights and strategic recommendations, enabling clients to make informed decisions and navigate complex business landscapes.
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