Artificial graphite anode materials market size and forecast

Downstream lithium demand to maintain high growth, 2021-2025 negative material growth space is nearly 2 times. According to the data, in 2021, China's shipments of negative electrode materials reached 720,000 tons, an increase of 97%, is expected to 2025, the global demand for negative electrode materials reached 2.23 million tons, of which domestic shipments reached 2.08 million tons, compared with 2021 has nearly 2 times the growth space, CAGR of more than 30%.

In 2021, domestic artificial graphite shipments exceeded 600,000 tons, an increase of 97%, accounting for 84%, the same as the same period last year, with the acceleration of artificial graphite production capacity of negative electrode manufacturers, it is expected that by 2025 domestic artificial graphite shipments reached 1.79 million tons, accounting for further increase to 86%; In 2021, domestic natural graphite shipments exceeded 100,000 tons, accounting for 14%, with the growth of consumer battery demand and BYD and other power manufacturers to increase the purchase of natural graphite, is expected to 2025 natural graphite shipments of nearly 240,000 tons, accounting for 11%.

The silicon-based negative electrode market is experiencing rapid growth and shipments are expected to increase significantly. According to the data, domestic silicon-based negative electrode shipments in 2021 reached 11,000 tons, +83% year-on-year, accounting for 1.5% of negative electrode material shipments. With the mass production of Tesla 4680 batteries and the promotion and application of large cylinder batteries, it is expected that China's silicon-based negative electrode shipments will reach 55,000 tons in 2025, which is more than four times the growth space compared with 2021, and the CAGR will reach 50% in 2020-2025, accounting for 2.2%. Since the silicon-based negative electrode is usually doped into the graphite negative electrode with a silicon doped ratio of less than 10%, it is expected that the doped silicon composite material shipments in 2025 are expected to reach more than 450,000 tons (calculated by 50% of silicon carbon and silicon oxygen), accounting for more than 20% of the total shipments of negative materials.