According to data from Green Globe International, Inc. (GGII), China's anode material industry is projected to maintain strong growth momentum in 2025, with annual shipments reaching 2.9 million tons, representing a year-on-year increase of 39%. The competitive landscape among manufacturers shows notable divergence, with leading companies experiencing robust production and sales, while small and medium-sized enterprises increasingly rely on contract manufacturing. Some major players now outsource over 30% of their production. Looking ahead to 2026, GGII anticipates the industry will continue its rapid expansion, with shipments expected to exceed 3.7 million tons, a growth rate of more than 28% compared to 2025.
In terms of product mix, synthetic graphite has further solidified its dominant position in 2025 due to its performance compatibility and stable supply chain. Shipments of synthetic graphite reached 2.67 million tons, up 49% year-on-year, accounting for 92.7% of total anode material shipments. Natural graphite continued its decline, with annual shipments of 210,000 tons, down 18.8% year-on-year, representing less than 8% market share. This decline is primarily attributed to overseas battery customers accelerating their shift to synthetic graphite and shrinking domestic application scenarios, with natural graphite now limited to niche applications in certain power and digital markets.
Silicon-based composite materials emerged as a highlight for industry growth in 2025, with shipments increasing by over 65% year-on-year. Specifically, shipments of new silicon-carbon pure powder exceeded 2,000 tons, equivalent to over 15,000 tons of silicon-based composite materials. In application segments, silicon-based composites have achieved widespread adoption in digital electronics, while their use in power batteries remains in the verification phase due to challenges such as material consistency issues. The technological roadmap demonstrates diversified development, with accelerated progress across three main pathways: biomass, phenolic resin, and pitch-based routes. The mainstream technology is currently evolving from biomass toward phenolic resin.
Technological advancements in anode materials during 2025 closely aligned with downstream battery product requirements, showing differentiated upgrade directions for energy storage and power applications. In the energy storage sector, to support new large-capacity storage cells of 500/600+ Ah, synthetic graphite performance metrics continued to improve, with specific capacity advancing from 350 mAh/g to 353-355 mAh/g, and compaction density simultaneously increasing from 1.6 g/cm³ to 1.65 g/cm³, meeting the core requirements of high energy density and long cycle life for energy storage batteries.
The power battery sector witnessed the widespread adoption of fast-charging technologies. Data from the fourth quarter of 2025 shows that among synthetic graphite used in power lithium batteries, products supporting ≥2C fast charging accounted for over 80% of shipments, with ≥4C fast-charging products exceeding 40% penetration. Fast-charging capability has become standard for synthetic graphite in power applications.
GGII forecasts several key development trends for anode materials in 2026: 1) Tight supply of medium and low-sulfur petroleum coke will drive price increases, with anode material prices expected to rise by 10-20%; 2) High-rate products will become mainstream, with ≥4C synthetic graphite penetration in power lithium batteries exceeding 50%; 3) New silicon-carbon shipments will grow by over 100% year-on-year, potentially transitioning from experimental to batch applications in power batteries; 4) Leading anode manufacturers will maintain full production capacity (particularly in the second half of 2026), requiring extensive outsourcing, while small and medium enterprises will accelerate direct supply to battery manufacturers to enhance customer loyalty or seek mergers with major players to better compete in the market.