Global Spherical Graphite Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Natural, Synthetic), By Application (Consumer Electronics, Transportation Batteries, Energy Storage), And By Geography - Forecasts From 2022 To 2027

Published:  Mar 2022 Report Code: KSI061612005 Pages: 130

The Global Spherical Graphite market is projected to grow at a CAGR of 32.59% during the forecast period to reach US$6,310.080 million by 2027, from US$875.814 million in 2020. 

Spherical graphite is also known as battery-grade graphite and is manufactured from the concentrates of flake graphite that are produced by graphite mines and is consumed as an anode in lithium-ion batteries. The concentrates of flake graphite are prepared into ultra-high-purity and microscopic spheres, which are used as a battery anode material. This minimizes the surface area to enable more graphite into a smaller volume, thus producing a lighter, smaller, and more effective anode product for the battery. It also improves the rate at which the cell can be charged.

Spherical graphite is at a growing stage and has the potential to tackle the increasing concern regarding emissions, which is expected to impact the growth of the market positively.

The major factor for the growth of the global spherical market is the increasing demand for lithium-ion batteries by several end-users such as transportation, energy, and more. In addition to this, the growing demand for portable devices and electric vehicles also acts as a factor in the increasing growth of the global spherical graphite market. Spherical graphite is at a growing stage and has the potential to approach the growing concern regarding emissions, and this factor is also expected to impact the market’s growth emphatically. With the speedy improvements and innovations in the transportation sector, the spherical graphite market is assumed to give immense possibilities to revolutionize the emerging lithium-ion industries in which spherical graphite is used. Moreover, the massive demand for smart devices like laptops, smartphones, and many other consumer electronic goods coupled with the high adoption of graphite in refractories is anticipated to allow a diversity of growth openings for the spherical graphite market. Moreover, the burgeoning demand for superior-quality graphite from the automotive industries is one of the factors that will add to the growth of the graphite market in the coming years during the forecast period. Reasons like instability in climate and the growing concern over pollution linked with the depleting reserves of fossil fuel have hastened the adoption of alternative energy sources. The sustainability issue is to satisfy the global energy demand has led to a shift from using fuel reserves to renewable energy sources like batteries. Over many years, the battery industry has gone through much development to complete the energy requirements efficiently. These factors add to the increasing growth of the market of spherical graphite globally.

Despite all this, the increasing price of spherical graphite and rigorous government regulations regarding the mining process can act as chief restraints towards the market growth of spherical graphite. Adding to this, the insufficient production potential can also be a hurdle to the market's growth.

The market for the global spherical graphite is dominated by the region of Asia Pacific. The growth is majorly due to the increase in the consumer electronics sector in the region, notably owing to the rapid escalation of smartphones and surging demand for electric vehicles that raised the demand for lithium-ion batteries. China is the major producer and consumer of anode material, lithium-ion batteries, and battery components. The country is responsible for driving most of the lithium-ion battery supply chain. Haida Group, a major Chinese graphite miner, is one of the world’s largest producers of spherical graphite.

The spherical graphite market in Europe and North America is also observing growth as many lithium-ion battery manufacturers are actively exploring alternative supply options. Barriers to entry for spherical graphite production are high, especially in the rest of the world, due to China’s low energy and labor costs and less stringent environmental restrictions. Although environmental expenses are rising in China, the conventional method of flake graphite processing to manufacture spherical graphite remains. Producers outside China who are looking to distance themselves from this process have been observed to produce their exclusive purification methods. It is essential to the economic and national security of the United States to scale up to market production at costs that are competitive with China. Though China remains the dominant producer of coated spherical graphite, there is an increasing interest in alternative sources as electrical vehicle production gains friction in the U.S. and Canada.

COVID-19 Insights

The primary impact of COVID-19 on the graphite supply chain was critical, keeping most graphite operations within China closed until mid-March, adding to a long period of closure. This reduced market activity and operations that tried to deliver orders faced noteworthy logistical disruption. Prices began to fall concerning the virus in March due to suffocated downstream demand caused by subdued activity in industrial markets and a reduction in anode orders.

Nonetheless, the drop in pricing was comparatively limited, as demand from domestic Chinese spherical graphite producers remained consistent during the virus period. China’s flexibility in the pandemic arises from the fact that flake and synthetic production zines are located far away from the locations with the highest cases in the country. Even with regard to the intermediate-stage production of anode material, there has been resilience to the impact of the pandemic in Korea and Japan. Also, irrespective of the prevailing surplus, graphite and anode markets are supported by the regional governments of China, which have resulted in plans for many significant developments which indicate the country's sustained efforts of establishing China’s supply base. This allowed China to get a more powerful state in the market and slow down the diversification of the supply chain.

Global Spherical Graphite Market Scope:

Report Metric Details
 Market size value in 2020  US$875.814 million
 Market size value in 2027  US$6,310.080 million
 Growth Rate  CAGR of 32.59% from 2020 to 2027
 Base year  2020
 Forecast period  2022–2027
 Forecast Unit (Value)  USD Billion
 Segments covered  Type, Application, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Aoyu Graphite Group, Yingkou Botian Material Technology Limited Comp, Battery Minerals Limited, Qingdao Yanxin Graphite Products Co., Ltd, Jixi BTR graphite industrial park, Black Rock Mining, Imerys Graphite & Carbon, Syrah Resources Limited, Focus Graphite Inc., Qingdao Black Dragon Graphite Group
 Customization scope  Free report customization with purchase


Key Market Segments

  • By Type
    • Natural
    • Synthetic
  • By Application
    • Consumer Electronics
    • Transportation Batteries
    • Energy Storage
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Thailand
      • Taiwan
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the spherical graphite market size by 2027?
A1. The global spherical graphite market is projected to reach a market size of US$6,310.080 million by 2027.

Q2. What is the size of the global spherical graphite market?
A2. Spherical Graphite Market was valued at US$875.814 million in 2020.

Q3. What are the growth prospects for the spherical graphite market?
A3. The spherical graphite market is projected to grow at a CAGR of 32.59% over the forecast period.

Q4. Which region holds the largest market share in the spherical graphite market?
A4. North America and Europe hold the largest share in the spherical graphite market.

Q5. What factors are anticipated to drive the spherical graphite market growth?
A5. The major factor for the growth of the global spherical market is the increasing demand for lithium-ion batteries by several end-users such as transportation, energy, and more.

1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

2.1. Research Data
2.2. Assumptions

3.1. Research Highlights

4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis

5.1. Introduction
5.2. Natural
5.3. Synthetic

6.1. Introduction
6.2. Consumer Electronics
6.3. Transportation Batteries
6.4. Energy Storage

7.1. Introduction
7.2. North America
7.2.1. United States
7.2.2. Canada
7.2.3. Mexico
7.3. South America
7.3.1. Brazil
7.3.2. Argentina
7.3.3. Others
7.4. Europe
7.4.1. Germany
7.4.2. France
7.4.3. United Kingdom 
7.4.4. Spain 
7.4.5. Others
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.5.2. UAE
7.5.3. Israel
7.5.4. Others
7.6. Asia Pacific
7.6.1. China
7.6.2. India
7.6.3. South Korea
7.6.4. Taiwan
7.6.5. Thailand
7.6.6. Indonesia 
7.6.7. Japan
7.6.8. Others

8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrative
8.3. Mergers, Acquisition, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix

9.1. Aoyu Graphite Group
9.2. Yingkou Botian Material Technology Limited Comp
9.3. Battery Minerals Limited
9.4. Qingdao Yanxin Graphite Products Co., Ltd
9.5. Jixi BTR graphite industrial park
9.6. Black Rock Mining
9.7. Imerys Graphite & Carbon
9.8. Syrah Resources Limited
9.9. Focus Graphite Inc.
9.10. Qingdao Black Dragon Graphite Group

Aoyu Graphite Group

Yingkou Botian Material Technology Limited Comp

Battery Minerals Limited

Qingdao Yanxin Graphite Products Co., Ltd

Jixi BTR graphite industrial park

Black Rock Mining

Imerys Graphite & Carbon

Syrah Resources Limited

Focus Graphite Inc.

Qingdao Black Dragon Graphite Group


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