Spherical Graphite Industry Analysis: GAGR is expected to be 9.7% during 2023-2029

Spherical graphite is the key material for the production of anodes for Li-ion batteries used in energy storage for EV and grid applications, which is currently the main application for our graphene products.

Rising demand for Li-ion batteries, from the growing number of end-users in sectors such as transportation, energy, and others that require battery-grade graphite, is driving demand for spherical graphite. A major driving force of growth is from the market for EV.

Spherical graphite is made of high-quality high-carbon natural flake graphite as raw material, and the graphite surface is modified by advanced processing technology to produce graphite products with different fineness and shape like oval spheres.

According to the new market research report “Spherical Graphite - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global Spherical Graphite market size is projected to reach USD 1.4 billion by 2029, at a CAGR of 9.7% during the forecast period.

• Global Spherical Graphite MarketSize(US$ Million), 2018-2029

Source: QYResearch, "Spherical Graphite - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

• Global Spherical Graphite Top12Players Ranking and Market Share (Ranking is based on the revenue of 2022, continually updated)

Source: QYResearch, "Spherical Graphite - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

The global key manufacturers of Spherical Graphite include BTR New Material Group, Qingdao Guangxing Electronic Materials, Zhanjiang Juxin New Energy, Qingdao GR-Taida Carbon, Graphex Group, Qingdao Xintaihe Energy Materials, Aoxing New Material, Qingdao Haida Graphite, China Graphite, Heilongjiang Dongfang Juneng Graphite Technology, etc. In 2022, the global top five players had a share approximately 42.0% in terms of revenue.

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