• Blog
  • Synthetic Graphite Market Forecast | 2023-2028

    Synthetic Graphite Market Forecast | 2023-2028

    Synthetic Graphite Market Forecast | 2023-2028
    Report code - SRAM104 Delivery - 2 Weeks
    Synthetic Graphite Market Size, Share, Forecast, Industry, and Growth Analysis (2023-2028) See more...

    Market Insights

    The Synthetic Graphite Market is expected to grow from USD 3.23 Billion in 2022 to USD 4.16 Billion by 2028 at a healthy CAGR of 4.3% during the forecast period of 2023-2028.

    Synthetic Graphite Market Size

    Wish to Get a Free Sample? Register Here.

    What is synthetic graphite?

    Synthetic graphite, also called artificial graphite, is a man-made substance manufactured by the high-temperature treatment (2,500 to 3,000 degrees Celsius) of amorphous carbon materials. It is manufactured by calcination and subsequent graphitization of petroleum coke and can achieve a purity of 99.9% carbon.

    The types of amorphous carbon used as precursors to graphite are many and can be derived from petroleum, coal, or natural and synthetic organic materials. Synthetic graphite holds the major share in the pie of the global graphite market.

    Carbon fiber and synthetic blocks are expected to experience the fastest growth in the next five years driven by increasing penetration of carbon composites in aerospace and automotive industries and double-digit growth of lithium-ion batteries in electric vehicles.

    Synthetic Graphite Market Report Highlights

    Market Size in 2022

    US$ 3.23 Billion

    Market Size in 2028

    US$ 4.16 Billion

    Market Growth by 2023-2028

    CAGR of 4.3%

    Base Year of Study


    Trend Period


    Forecast Period


    Dominant Region

    In terms of both volume and revenue, Asia-Pacific emerged as the leading market in 2022.

    Segment Analysis

    Synthetic Graphite Market by Form Type

    Synthetic graphite has four principal types; electrode, block, powder, and fiber. The largest type of the synthetic graphite is graphite electrode that is predominately used in the electric arc furnaces for melting steel & iron and producing alloys.

    Synthetic graphite blocks are also man-made products and are made using petroleum coke. Blocks are produced from isostatic, extruded, die molded, and vibration molded process. All these processes offer distinctive benefits and are used for producing graphite for different applications. Synthetic blocks are used in the large variety of applications ranging from polysilicon production for photovoltaic industry to high temperature reactors in nuclear industry.

    Synthetic graphite powder is a low cost material because it’s a by-product. It is used in applications, such as brake linings, lubricants and carbon brush. Synthetic graphite powder is generally a result of the granular graphite or graphite dust gathered during machining electrodes and blocks.

    Carbon fiber is considered as an advanced fiber type and is used in many industries including aerospace and defense and automotive industry. High specific strength, lightweight, good fatigue strength, and excellent corrosion resistance make it a preferred material in the high performance applications. High focus on fuel efficiency, low carbon emission, weight reduction, comfort and passenger safety, and government regulations, such as CAFÉ standards are driving the increasing penetration of carbon composite structures in aerospace & defense, automotive, and wind energy segments. Carbon fiber is likely to experience double digit growth in the next five years. Carbon fiber market players are continuously working on the development of alternative precursors and efficient manufacturing processes with the aim to reduce the carbon fiber price. The target carbon fiber price is about $5 per pound for usage in the mass production applications.

    Synthetic Graphite Market by Application Type

    Graphite electrodes are the largest application of synthetic graphite and is expected to remain the largest application in the next five years. Asia-Pacific region is the major consumer of the graphite electrode driven by rising demand for steel and other metals, mainly in China and India.

    Battery is currently the hot topic in the graphite market. Battery is an application where both natural and synthetic graphite are used and truly compete with each other. There will be a continuous shift in graphite market away from amorphous natural graphite towards flake and synthetic graphite as emerging applications like batteries typically require large flake and high-purity grades.

    Graphite electrode is expected to remain the largest application of the synthetic graphite in the next five years. Increasing use of electric arc furnaces for producing steel across the world is expected to drive sales of graphite electrodes.


    Market Scope & Segmentation

    Research Scope

    Trend & Forecast Period


    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Figures & Tables



    Up to 10% customization available free of cost


    The Synthetic Graphite Market is segmented in the following ways:

    Synthetic Graphite Market Size, Share & Forecast by Form Type:

    • Synthetic Electrode
    • Synthetic Block
    • Synthetic Carbon Fiber
    • Synthetic Powder

    Synthetic Graphite Market Size, Share & Forecast by Product Type:

    • Primary Product
    • Secondary Products

    Synthetic Graphite Market Size, Share & Forecast by Application Type:

    • Electrode
    • Cathode & Furnace
    • High Temperature Applications
    • Electrical Discharge Machining
    • Polysilicon Production
    • Lubricants
    • Foundry
    • Frictional Products
    • Parts & Components
    • Others

    Synthetic Graphite Market Size, Share & Forecast by End-Use Industry Type:

    • Metal Industry
    • Aerospace & Defense
    • Automotive
    • Photovoltaic Industry
    • Electrical & Electronic
    • Industrial
    • Others

    Synthetic Graphite Market Size, Share & Forecast by Manufacturing Process Type:

    • Isostatic
    • Molded
    • Expanded
    • Extruded

    Synthetic Graphite Market Size, Share & Forecast by Sales Channel Type:

    • Direct Sales
    • Distributors

    Synthetic Graphite Market Size, Share & Forecast by Region:

    • North America
    • Europe
    • Asia-Pacific
    • Rest of the World

    Key Players

    The key synthetic graphite manufacturers globally are-

    • SGL Carbon SE
    • GrafTech International Holdings Inc
    • Mersen Group
    • Nippon Graphite Industries
    • Tokai Carbon Co.
    • Toray Industries
    • Toho Tenax
    • Toyo Tanso
    • Mitsubishi Rayon Co.
    • Baofeng Five-star Graphite
    • Showa Denko K.K.
    • Graphite India.

    New product development, collaboration with customers, and long term contacts are the key strategies adopted by the key players to gain competitive edge in the market.

    Report Features

    This report, from Stratview Research, studies the synthetic graphite market over the period 2014 to 2025. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.


    Research Methodology

    For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.


    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (upto 3)
    • SWOT analysis of key players (upto 3)

    Geographic Analysis

    • Further segmentation of North America into USA, Canada, and Mexico

    Regional Segmentation

    • Current market segmentation of any one of the regions by application

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your enquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    SGL Carbon SE, GrafTech International Holdings Inc, Mersen Group, Nippon Graphite Industries, Tokai Carbon Co., Toray Industries, Toho Tenax, Toyo Tanso, Mitsubishi Rayon Co., Baofeng Five-star Graphite, IBIDEN CO, Showa Denko K.K., and Graphite India. are among the key players in the synthetic graphite market.

    Graphite electrode is expected to remain the largest application of the synthetic graphite in the next five years.

    Graphite electrode is expected to remain the largest form type in the synthetic graphite market during the forecast period.