It is estimated that the growth rate of the artificial graphite market will reach 4.17% from 2019 to 2024. The Asia-Pacific region dominates the global market, with countries such as China, Japan and India having the largest consumption.
According to a report by the GLOBE NEWSWIRE on May 24, synthetic graphite is the anode component of lithium-ion batteries. Although lithium is the most famous component of lithium-ion batteries, the graphite in the battery is much more than lithium. The battery anode requires over 90.9% purity of the coated spherical graphite.
The report believes that the growth in sales of electronic products and electric vehicles is expected to promote the sales of lithium-ion batteries, which in turn will promote the consumption of synthetic graphite.
According to reports, China continues to dominate the production and demand for synthetic graphite. Almost all stages of the lithium battery manufacturing chain are concentrated in China, China is by far the largest and fastest growing lithium battery market, paving the way for the growth of synthetic graphite.
The main application of synthetic graphite is on the electrodes of the steelmaking industry. On a global scale, China has the largest share of graphite electrode consumption and production capacity.
According to the report, the synthetic graphite market is currently consolidated. The top five giants account for more than 75% of the market.
