According to a recent market study published by Growth Market Reports, titled, “Global Spherical Graphite Market by Type, by End-use, and by Region: Size, Share, Trends and Opportunity Analysis, 2015-2030”, the market was valued at USD 532.4 Million in 2021 and is anticipated to expand at a growth rate of 22.2% by the year 2030.

Spherical graphite, commonly known as battery-grade graphite, is used in lithium-ion batteries as an anode material. Spherical graphite is made from flake graphite. Flake graphite concentrate is processed into ultra-pure (>99.95% C) and microscopic (15 to 5 microns) spheres to use as a battery anode materials. This reduces the surface area by allowing a large amount of graphite to be packed into a small volume, which results in a small, light, and efficient anode product for the battery. It significantly speeds up the charging of the cell. When compared to flake graphite, spherical graphite has several advantages in battery end-uses. Well-rounded spherules have a low specific surface area (BET); hence, capacity losses are minimized. They provide efficient packing as well as boost the anode's tap density and total volumetric energy capacity. A well-rounded spherule is covered more evenly than sub-rounded or angular grains, which increases the anode effectiveness. Historically, synthetic spherical graphite has been considered as the main anode material. However, natural spherical graphite has the potential to replace synthetic graphite as anode material. 

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Spherical graphite has high crystallinity, low cost, low charge, low discharge potential, and flatness. It is an essential component of lithium-ion battery anode material and a cathode material, both domestically and internationally. High-purity spherical graphite is produced through a specialized engineering process, which is considered as an excellent choice for polymer-graphite composites. The cycle life of spherical graphite is reached up to 500-1000 times, due to the well-controlled particle sizes and particle size distribution, as well as the highly crystalline structure.

The spherical graphite market has been fragmented based on by type and by end-use. By type, the global spherical graphite market is categorized as natural and synthetic. In terms of end-use, the market is categorized as electric vehicles, energy storage system, and consumer electronics. The market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Key factors that are anticipated to fuel the demand for Spherical Graphite market during the forecast period are the growing demand for spherical graphite in the production of lithium-ion batteries anode. These batteries are further used in electric vehicles, energy storage system, and consumer electronics such has smartphones, tablets, and laptops. Increasing use of electric vehicles, as they are, quite, efficient, rechargeable, and others, has increased the demand for lithium-ion batteries. This increases the demand for spherical graphite.

The Coronavirus disease 2019 (COVID-19) pandemic highlighted economic disparities, global interdependence, and governance challenges. COVID-19 has a moderate impact on industries, due to the simultaneous reduction of supply and demand. The COVID-19 pandemic caused a slight slowdown in the market expansion. Once these sectors have recovered from the pandemic's effects, the market for other end-user industries is expected to restore its growth rate.

As per growth market reports industry analyst Partha Paul, “The increasing use of lithium-ion batteries is expected to contribute to the growth of the global spherical graphite market. Electric vehicles are vehicles that are powered by an electric motor, which draws electricity from a battery. Recently, the market of electric vehicles has seen a huge growth, as these vehicles are environment friendly, efficient, and quiet. Many countries are focusing on increasing the manufacturing of electric vehicles. Moreover, consumer electronics also use lithium-ion batteries. The increasing sales of lithium-ion batteries is increasing the demand for spherical graphite."

Supply chain is a network between a manufacturer and suppliers to produce and distribute a specific product to the final buyers. This network includes different people, regulatory bodies, entities, information, and resources. Raw materials used for manufacturing spherical graphite include flake graphite ores, petroleum coke, and coal tar pitch, which are shipped to manufacturers to be processed into final products. These products are procured from raw material suppliers and stored at raw material warehouses or directly at manufacturing sites. Raw materials are inspected to ensure their quality.

Key Takeaways from the Study

  • The players in the Spherical Graphite market include Graphex Group; Superior Graphite; NovoCarbon; QINGDAO MINGHEDA GRAPHITE NEW MATERIAL CO., LTD; and BariteWorld.
  • In terms of type, the market is segmented into natural and synthetic. Growing demand for portable gadgets and electric vehicles is expected to affect the growth of the natural spherical graphite segment. Increasing demand for alternative energy sources and consumer electronics is expected to drive the natural spherical graphite segment during the forecast period.  High demand for lithium-ion batteries and increased awareness about carbon dioxide emissions are projected to boost the natural spherical graphite segment during the forecast period. Natural spherical graphite is used in many refractory industries. Every reactor, transport vessel, and kiln is lined with a range of refractory materials, including bricks, monolithic, and high-temperature insulation. Thus, increased global demand for refractories is boosting the usage of natural spherical graphite.
  • The synthetic spherical graphite is expected to hold significant share in the market in the coming years, due to increasing use of synthetic spherical graphite electrodes in battery manufacturing industries. Synthetic spherical graphite is highly used in the production of electric and hybrid automobiles. The global demand for these automobiles is increasing, which is driving up the price of synthetic spherical graphite.
  • Based on end-uses, the global spherical graphite market is segmented into electric vehicles, energy storage systems, and consumer electronics. The electric vehicles segment is expected to hold the highest share of the market during the forecast period. Electric vehicles (EVs) have a significant pollution advantage over traditional fuel-powered vehicles, due to the absence of transit-related emissions. Increased concerns about climate change have forced regulatory agencies to undertake stringent fuel efficiency measurements. Governments are providing appealing incentives and policies to stimulate the purchase of EVs. EVs offer users a variety of perks, including low-selling prices, free or low-cost registration fees, and free EV charging infrastructure at various charging points. Various governments around the world exclude import tax, road tax, and purchase tax based on various subsidies. These subsidies have encouraged automakers to increase their EV production. Concerns about vehicular emissions are anticipated to promote EV adoption, which is expected to drive the market in the forecast period. Energy Storage System is expected to increase at a significant pace globally, people are becoming aware of the negative impact of CO2 emissions and other greenhouse gases on the environment. This has created significant interest in renewable energy sources. These factors are expected to propel the energy storage systems segment during the forecast period. Rising awareness of energy-efficient products and the availability of low-cost raw materials for battery manufacture are anticipated to boost the energy storage systems segment. Consumer electronics is expected to hold a significant share in the market in the coming years, due to the growing demand for portable gadgets and electric cars is expected to have a positive impact on the growth of the spherical graphite market. Increased demand for alternative energy sources in consumer electronics devices is expected to be a significant factor in the growth of the spherical graphite market during the forecast period. Rising per capita income of consumers allows them to spend on housing and furnish their homes with cutting-edge modern items. Growing adoption of smart devices in homes is expected to contribute to the growth of the consumer electronic devices segment in the coming years.
  • In terms of regions, the global spherical graphite market is divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. The growth of the spherical graphite market in Europe is attributed to the rising penetration of environment-friendly vehicles and energy storage systems in the region. Governments of various countries in Europe are working towards making both passenger cars and commercial fleets electric. They are encouraging Asia-based companies to open manufacturing plants in Europe to reduce the import cost of lithium-ion batteries. Asia Pacific accounted for the highest share of the market in 2021, owing to the increasing demand for electric vehicles, consumer electronics, and energy storage systems in the region. China is one of the major consumers of spherical graphite, as it is one of the largest producers of lithium-ion batteries. This is attributed to large investments in research and development, government policies, and foreign direct investment inflows. Moreover, countries such as Japan and South Korea are increasing the production of lithium-ion batteries to meet the growing demand for electric vehicles.

Report Scope:

Report Metric


Market Value in 2021

US$ 532.4 Million

Market Growth Rate (from 2022 to 2030)


Historical Data

2015 & 2020

Base Year


Forecast Period

2022 - 2030

Units Considered

Value (US$ Million)

Market Segments

By Type, By End-use, and By Region

Key Companies Profiled

Graphex Group; Superior Graphite; NovoCarbon; QINGDAO MINGHEDA GRAPHITE NEW MATERIAL CO., LTD; and BariteWorld

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail of tailor-made purchase options to meet your research requirements.

Target Audience:

  • Supply-side: Manufacturer and distributors.
  • Demand Side: Packaging Industry, Cosmetic Industry, and Furniture Industry.
  • Regulatory Side: Concerned government authorities, and other approval regulatory bodies.
  • Associations and Industry Bodies:  CISA, US EPA, REACH.