Synthetic Graphite Market Outlook: Growth and Insights

The global synthetic graphite market size was valued at USD 5.67 billion in 2024. The market is projected to grow from USD 5.98 billion in 2025 to USD 8.74 billion by 2032, exhibiting a CAGR of 5.6% during the forecast period. Asia Pacific dominated the synthetic graphite market with a market share of 55.38% in 2024.

Synthetic graphite is made from non-graphitic carbon, which is treated at high temperatures. Calcined petroleum coke and coal tar pitch are the primary feedstocks used to make synthetic graphite. It possesses excellent electrical conductivity, resistance to high temperatures, and chemical stability. Consequently, the market is experiencing significant growth, driven by its critical role in various applications such as lithium-ion batteries, metallurgy, and industrial components.