Synthetic Graphite Market Revenue to Attain USD 14.85 Bn by 2033

26 Sep 2025

Share :

Table of Content

1. Synthetic Graphite Market Revenue and Trends 2025 to 2033 2. What is Synthetic Graphite Used for and Why is This Market Drastically Growing? 3. Segment Insights: 4. Regional Insights: 5. Synthetic Graphite Market Coverage 6. Synthetic Graphite Market Key Players

Synthetic Graphite Market Revenue and Trends 2025 to 2033

The global synthetic graphite market revenue reached USD 8.81 billion in 2025 and is predicted to attain around USD 14.85 billion by 2033 with a CAGR of 6.75%. The market is expanding significantly due to surging demand for electric vehicle batteries, energy storage systems, and modern electric-arc furnace steel production, which is driving the need for high-performance, scalable graphite materials.

What is Synthetic Graphite Used for and Why is This Market Drastically Growing?

The rapid expansion of the electric vehicle (EV) industry, which relies heavily on synthetic graphite for battery anodes, is driving the growth of the market. Synthetic graphite is primarily used in applications that require high thermal resistance, electrical conductivity, and structural integrity. The market involves the production and application of man-made graphite materials.

The shift in the steel sector toward electric arc furnace (EAF) processes also boosts demand for high-quality graphite electrodes. Additionally, advancements in battery technology and heightened demand for faster charging and longer lifespans further increase the need for synthetic graphite. Future opportunities lie in the development of more efficient and sustainable graphite production methods. 

Segment Insights:

• By product type, the graphite electrodes segment dominated the market in 2024, as it is heavily utilized in electric arc furnace (EAF) steelmaking. 
• By raw material, the needle coke segment dominated the market in 2024 due to its crystalline structure and high purity, which are critical in the manufacturing of high-performance synthetic graphite. 
• By manufacturing process, the molded graphite segment led the synthetic graphite market in 2024, as molded graphite exhibits high strength, density, and machinability, making it ideal for a range of applications. 
• By purity level, the standard purity (<99.5%) segment dominated the market, accounting for a major share in 2024. This is mainly due to its excellent strength, stability, and conductivity, all are essential for high-performance industrial applications. 
• By application, the metallurgy segment dominated the market due to the heavy reliance on synthetic graphite in steelmaking and other metal production processes.

Regional Insights:

Asia Pacific dominated the synthetic graphite market with the largest share in 2024. This is due to significant investments in localizing supply chains. These efforts, involving both governments and manufacturers, aim to decrease dependence on China. Supportive policies for renewable energy and electric vehicles further bolster upstream graphite production, contributing to its market dominance in 2024.

North America is projected to expand at the fastest CAGR in the market due to several key factors. The region benefits from China's vast steel, battery, and manufacturing base, which significantly drives the consumption of synthetic graphite. Moreover, the concentration of major factories for both synthetic graphite electrodes and battery cell production within the same region facilitates periodic integration and economies of scale.

Synthetic Graphite Market Coverage

Synthetic Graphite Market Key Players

• GrafTech International
• SGL Carbon
• Tokai Carbon
• Shanshan Technology
• Nippon Carbon
• Showa Denko
• Fangda Carbon New Material
• SEC Carbon
• HEG Limited
• Graphite India Limited

Recent Development:

• In September 2025, ExxonMobil agreed to acquire Graphite’s technology, U.S. facilities, and select international offices. The acquisition of Superior Graphite enables ExxonMobil to enter the synthetic graphite market for battery anodes. 
  (Source- https://battery-news.de)

Get this report to explore global market size, share, CAGR, and trends, featuring detailed segmental analysis and an insightful competitive landscape overview @ https://www.precedenceresearch.com/sample/6878

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com |+1 804 441 9344