Synthetic Graphite Market Updates

Q: What is the key market trend for Synthetic Graphite Market?

Transition to Recycled and Green Graphite Materials: Companies are investing in technologies that can produce synthetic graphite from recycled carbon feedstock because sustainability is a high priority. These include petroleum coke trash and battery waste materials. To mitigate their carbon footprint, they are also adopting cleaner industrial technology. These environmentally friendly measures fit into ESG objectives and appeal to end customers and investors concerned about the environment.

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to synthetic graphite market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

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In January 2025, the Norwegian business Vianode and General Motors (GM) signed a multi-year, multi-billion-dollar contract for the supply of synthetic graphite anode material for GM's electric car batteries. When Vianode starts production in North America in 2027, deliveries will begin. By 2030, the factory will be producing approximately 80,000 tons of synthetic graphite annually, enough to propel more than 1.5 million electric vehicles. Remarkably, Vianode's synthetic graphite has a carbon footprint that is 90% lower than traditional processes, which aligns with GM's vision for strong and sustainable supply chains.

In July 2024, Graphite One, the developer of a western Alaska mine producing graphite, partnered with electric vehicle manufacturer Lucid Motors. Through the deal, 5,000 tonnes of synthetic graphite will be delivered each year, or over 30,000 pounds per day. With this agreement, the idea is to strengthen the economy, improve the supply chain within the home front for critical minerals, and reduce the import dependence for materials that are critical in the production of electric vehicles.

In February 2024, Panasonic Energy Co., Ltd., a Panasonic Group corporation, signed a binding off-take agreement with NOVONIX Limited, a global leader in battery material and technology. Panasonic Energy will utilize NOVONIX synthetic graphite at its U.S. EV battery production plants. Shipments from NOVONIX's Tennessee factory are scheduled to begin in 2025. Through these strategic partnerships, Panasonic Energy reiterates its goal of achieving zero emissions and building a sustainable society.

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FAQs

Global Synthetic Graphite Market size was valued at USD 2.99 Billion in 2023 and is poised to grow from USD 3.19 Billion in 2024 to USD 5.42 Billion by 2032, growing at a CAGR of 6.83% in the forecast period (2025-2032).

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. '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'

The demand for lithium-ion batteries, which employ synthetic graphite as a significant anode material, has grown because of the increasing demand for electric vehicles and energy storage products. The use of synthetic graphite is suitable for high-performance battery applications because it is purer and more consistent than natural graphite. During the forecast period, demand for synthetic graphite will grow steadily as a result of increasing global use of EVs, particularly in Asia-Pacific.

Transition to Recycled and Green Graphite Materials: Companies are investing in technologies that can produce synthetic graphite from recycled carbon feedstock because sustainability is a high priority. These include petroleum coke trash and battery waste materials. To mitigate their carbon footprint, they are also adopting cleaner industrial technology. These environmentally friendly measures fit into ESG objectives and appeal to end customers and investors concerned about the environment.

Why Is Asia-Pacific Leading the Global Synthetic Graphite Market?

Synthetic Graphite Market Updates

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