【Graphite Anode】Analysis of China's Industry Competitive Landscape in 2025: ...

 The rapid growth of the EV and energy storage industries is boosting demand for high-performance lithium batteries, driving the market for quality petroleum coke and synthetic graphite. The quality and particle size of calcined petroleum coke directly affect synthetic graphite performance, especially in anode production.

【Graphite Anode】Analysis of China's Industry Competitive Landscape in 2025: BTR and Shanshan Lead, BTR Ranks First in Revenue

BTR Leads in Revenue Scale

From the perspective of revenue scale, among China's listed graphite anode material companies in 2024, BTR recorded the highest revenue from graphite anode-related businesses, with revenue exceeding RMB 10 billion. Shanshan Co., Ltd. and Zhongke Electric each generated more than RMB 5 billion in revenue from graphite anode material products.

BTR Leads in Production and Sales Volume

Among the major listed companies in the industry, BTR's graphite anode production exceeded 450,000 tons in 2024, leading other enterprises. Shanshan's graphite anode production surpassed 350,000 tons, ranking second after BTR.

In terms of sales volume, BTR remained the market leader in 2024 with sales of 438,000 tons. Shanshan's graphite anode sales reached 340,000 tons, ranking second. Zhongke Electric and Shangtai Technology both recorded sales of over 200,000 tons, ranking third and fourth, respectively.

Shanshan Leads in Artificial Graphite Anode Segment

After years of development, China's artificial graphite technology has advanced rapidly and has become the dominant product in the graphite anode material industry. In the first half of 2025, artificial graphite anode shipments reached 1.17 million tons, accounting for 91.7% of total graphite anode shipments.

In the first half of 2025, within the artificial graphite anode segment, Shanshan held the highest shipment share at 21%, while BTR's artificial graphite product shipments ranked second after Shanshan.

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