Global EV Battery Anode Material Volume Up 21%... Chinese Supply Chain Dominance Grows Further

29.9% Growth Outside China Outpaces Global Average

China's Market Share at 95.4%... Increased Investment in Non-Chinese Production

In the first half of this year, the global market for anode materials used in electric vehicle batteries grew by over 20%. While the market excluding China expanded more rapidly than the global average, Chinese companies actually strengthened their dominance on the supply side.

According to SNE Research on August 12, the cumulative volume of global EV anode materials loaded from January to June this year was 732,000 tons, representing a 21.1% increase from 605,000 tons during the same period last year. Excluding China, the market rose by 29.9% from 230,000 tons to 299,000 tons over the same period. The proportion of these markets within the total also increased from 38.0% to 40.8%.

By company, China’s ShanShan maintained its lead with 146,000 tons, up 12.2%. BTR narrowed the gap significantly by recording 145,000 tons, a 20.8% increase, bringing the difference between the two firms to only 1,000 tons. Together, the two companies account for approximately 39.8% of the market share.

Mid-tier companies posted even steeper growth rates. Kaijin achieved 85,000 tons, a 33.5% increase, while Shangtai posted 83,000 tons, up 23.5%. Shinzoom recorded the highest growth rate among major firms, surging 52.1% to reach 62,000 tons.

Although the regions demanding anode materials are diversifying, supply has become even more concentrated in China. In the second quarter of this year, the market share held by Chinese firms in the global anode materials sector reached 95.4%, a rise of 1.1 percentage points compared to the first quarter. Korean and Japanese companies each saw their shares fall to 2.3%.

As a result, moves to secure production capacity outside of China are continuing. In March, POSCO Future M announced plans to build a synthetic graphite anode material plant in Thai Nguyen, Vietnam, with an expected maximum annual capacity of 55,000 tons. The company aims to start mass production in 2028. US-based NOVONIX is also working to obtain mass production certification for synthetic graphite anode active material produced at its Riverside plant in Tennessee.

SNE Research forecasts that supply chain localization and compliance with origin regulations will become key competitive factors in the anode material market going forward. With China tightening controls on graphite exports and the US continuing its policies to induce local production, securing production capacity outside China, procuring raw materials, and achieving product certification are expected to emerge as major challenges.

This content was produced with the assistance of AI translation services.