Top Synthetic Graphite Companies

The major players in the highly concentrated synthetic graphite market are emphasizing capacity growth, strategic alliances, and sustainability efforts. To manufacture high-purity graphite for battery and semiconductor use, leading players such as Tokai Carbon, Showa Denko, and GrafTech International are making R&D and vertical integration investments. Shared strategies for raw material acquisition and positioning oneself near significant end-user industries, like the production of electric vehicles, are strategic acquisitions and geographic expansions.

• Anovion Battery Materials (USA, Established in 2021): Among the leading manufacturers of synthetic graphite anode material for lithium-ion batteries is Anovion. In May 2023, Anovion announced that it would invest USD 800 million in a factory in Georgia, USA, with an objective of making 40,000 metric tons of synthetic graphite a year. The project is an initiative toward localization of supply chains of battery materials in North America.

• Molten Industries (USA, Established in 2021): A methane pyrolysis process from Molten Industries transforms natural gas into pure hydrogen and high-quality synthetic graphite. In June of 2024, Molten raised USD 25 million in Series A financing to construct its first commercial reactor in Oakland, which is expected to produce 15,000 tons of graphite per year. This process provides a low-emission, low-cost, homegrown alternative to conventional graphite production.

Top Player’s Company Profile

• Panasonic Energy Co., Ltd.

• General Motors

• Graphite One

• Imerys Group

• Mersen Group

• Fangda Carbon New Material Co., Ltd.

• Sinosteel Corporation

• Jilin Carbon Co., Ltd.

• Baofeng Five-star Graphite Co., Ltd.

• Toyo Tanso Co., Ltd.

• Tokai Carbon Co., Ltd.

• Showa Denko K.K.

• GrafTech International Ltd.

• SGL Carbon SE

• HEG Limited