1. Core Properties and Classification of Graphite: Material Characteristics Define Application Boundaries
Graphite is a layered crystalline material composed of carbon atoms. Its unique molecular structure endows it with three core properties: high temperature resistance (withstanding temperatures above 3000°C), excellent electrical conductivity (resistivity of only 1.3×10⁻⁵Ω·cm), and low friction coefficient (0.05-0.15), along with chemical stability and processability. Based on purity and preparation technology, the industry mainly classifies it into three categories:
Natural Graphite: Extracted and purified from crystalline graphite mines, it is divided into flake graphite (used for lithium-ion battery anodes) and amorphous graphite (used for refractory materials). The grade of graphite from Luobei Mine in Heilongjiang, China, can reach over 98%.
Synthetic Graphite: Produced from raw materials such as petroleum coke and needle coke through calcination and graphitization. It has higher purity (up to 99.9%) and serves as a core material for semiconductors and high-end lithium-ion batteries.
High-Purity/Ultra-High-Purity Graphite: A purity of ≥99.99% (4N grade) is the key threshold. Products with purity above 99.999% (5N grade) are used in semiconductor wafer manufacturing, which was long monopolized by companies like Toyo Tanso of Japan.
2. Panoramic View of the Industrial Chain: Value Leap from Mineral Mining to High-End Applications
The graphite industrial chain features "concentrated resources, scattered processing, and high-end applications," with a value difference of up to 100 times:
Upstream: Resources and Primary Processing
80% of the world's crystalline graphite reserves are concentrated in China, Mozambique, and Tanzania. China's annual mining output exceeds 800,000 tons, accounting for 65% of the global total.
Primary processing mainly involves flotation and grinding, producing graphite powder with a purity of 90%-95% at a price of approximately 5,000-8,000 yuan per ton. It is mainly used as a metallurgical release agent and ordinary lubricant.
Midstream: Intensive Processing and Material Preparation
The core links are purification and modification. The traditional high-temperature method requires heating at 3000°C, with energy consumption reaching 15,000 kWh per ton. However, the mature microwave purification technology in 2025 can reduce energy consumption to 40% of the traditional process, with purity stably exceeding 99.99%.
Key products include: spherical graphite (core material for lithium-ion battery anodes, priced at 30,000-50,000 yuan per ton), isostatically pressed graphite (used for semiconductors, priced at 200,000-500,000 yuan per ton), and graphene (in the experimental stage, priced at over 1,000 yuan per gram).
Downstream: Dual-Driven by Traditional and Emerging Fields
|
Application Field |
Core Requirement |
Market Share |
Representative Enterprises/Scenarios |
|
New Energy Vehicles |
Spherical graphite anodes with high cycle life |
42% |
BTR, Shanshan (supplying CATL) |
|
Semiconductors |
5N-grade high-purity graphite heat dissipation substrates |
18% |
SMIC wafer manufacturing |
|
Iron and Steel Metallurgy |
Ultra-high power graphite electrodes |
25% |
Electric furnace steelmaking (replacing coke) |
|
Aerospace |
Lightweight graphite composite materials |
8% |
Aircraft structural components |
|
Emerging Fields |
Hydrogen energy storage and transportation, nuclear energy moderators |
7% |
Hydrogen fuel cell bipolar plates |
3. Technological Revolution: Microwave Purification Rewrites Industry Rules
From 2023 to 2025, the industrial breakthrough of microwave purification technology has become the most significant transformation in the graphite industry. Its principle is to selectively heat impurity molecules (strong microwave absorbers such as iron and calcium) to achieve efficient "inside-out" impurity removal, with significant advantages over traditional processes:
|
Technical Indicator |
Traditional High-Temperature Method |
Microwave Purification Method |
|
Energy Consumption Level |
10,000-15,000 kWh/ton |
4,000-6,000 kWh/ton |
|
Purity Upper Limit |
99.95% (bottleneck) |
99.99%+ (stable mass production) |
|
Carbon Emission |
870kg CO₂/ton |
350kg CO₂/ton |
|
Production Cycle |
12-16 hours |
2-3 hours |
At present, a 5,000-ton demonstration line has been built in Inner Mongolia, and a 10,000-ton production capacity will be put into operation in 2026. It is expected to drive a 30% reduction in the cost of lithium-ion battery anodes and increase the localization rate of semiconductor-grade graphite from less than 40% to over 50%.
4. Global Market Pattern: China's Transformation from a Resource Power to a Technology Power
Regional Competitive Landscape
China: Accounts for 70% of the world's primary processing capacity, forming three major industrial clusters: Heilongjiang (resource-based), Qingdao, Shandong (deep processing-based), and Inner Mongolia (technology-based). The market scale of high-purity graphite in China reached 25 billion yuan in 2025 and will increase to 55 billion yuan by 2030 (CAGR 15%).
Europe and the US: Have listed graphite as a critical mineral. The EU has promoted local production capacity through the Critical Raw Materials Act, but still relies on imports from China in the short term (import dependence 68%).
Japan and South Korea: Retain high-end technological advantages. Toyo Tanso of Japan still monopolizes 60% of the semiconductor-grade graphite market, but China's microwave technology has formed a 2-3-year first-mover advantage.
Policy-Driven Characteristics
China: Has classified crystalline graphite as a strategic mineral, implemented green mine standards, and restricted the export of primary products.
International: The EU Carbon Border Adjustment Mechanism (CBAM) forces the industry to reduce carbon emissions and accelerates the elimination of high-energy-consumption production capacity.
5. Challenges and Future: From Scale Advantage to Value Leadership
Existing Bottlenecks
High-end "bottlenecks": The import dependence of 5N-grade graphite for semiconductors is 55%, and the localization rate of isostatically pressed graphite is less than 40%.
Cost contradiction: The investment in a single microwave equipment production line is 100 million yuan, which is difficult for small and medium-sized enterprises to afford for transformation.
Environmental pressure: The waste acid treatment cost of the traditional acid washing process accounts for 15% of the total cost. Although electrochemical purification reduces acid consumption, its efficiency is low.
Three Major Development Trends
Technological diversification: Technologies such as plasma purification and AI intelligent temperature control are accelerating research and development, targeting the 99.9999% (6N grade) purity goal.
Recycling industrialization: Breakthroughs in the recycling technology of waste lithium-ion battery anode graphite are expected to make recycled materials account for 25% of the market by 2028.
Standard leadership: China is promoting the alignment of graphite quality classification standards with international standards and participating in the formulation of rules by the International Graphite Committee (IGC).
