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graphite electrode producers accelerate shift to battery anodes driven by long term demand","synthetic-graphite-electrode-producers-accelerate-shift-to-battery-anodes-driven-by-long-term-demand","article/synthetic-graphite-electrode-producers-accelerate-shift-to-battery-anodes-driven-by-long-term-demand",{"_uid":557,"date":558,"tags":559,"editor":565,"content":575,"excerpt":672,"featured":51,"reporter":673,"_editable":677,"component":678,"seo_title":553,"categories":679,"visibility":691,"author_company":49,"featured_image":692,"seo_description":672,"author_full_name":49,"author_job_title":49,"formattedDate":697,"formattedArticleDate":698},"e65d535b-8e42-471a-b484-b6d3608a0001","2024-09-30 00:00",[560,563],{"slug":561,"name":562},"ex-china","ex-China",{"slug":564,"name":564},"steel",[566],{"slug":567,"name":568,"content":569},"didi-bostock","Didi Bostock",{"job_title":570,"image":571,"bio":573,"linkedin":574},"Editor - Energy Transition & Economics",{"filename":572},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":576,"content":577},"doc",[578,585,590,605,610,615,622,627,634,639,644,649,654,659],{"type":579,"attrs":580,"content":581},"paragraph",{"textAlign":49},[582],{"text":583,"type":584},"Ex-China manufacturers of synthetic graphite electrodes for steel are moving away into battery anodes, galvanised by prospects of high lithium ion demand growth.","text",{"type":579,"attrs":586,"content":587},{"textAlign":49},[588],{"text":589,"type":584},"“The shift is driven by the anticipated significant surge in demand for battery anode materials outside of China, with electrode end-use demand projected to grow at a relatively steadier rate year on-year,” said Tony Alderson, Benchmark senior analyst. ",{"type":579,"attrs":591,"content":592},{"textAlign":49},[593,595,603],{"text":594,"type":584},"The compound annual growth rate (CAGR) for battery demand is forecast to hit 13.9% between 2024 2029, according to ",{"text":596,"type":584,"marks":597},"Benchmark’s Lithium ion Battery Forecast",[598],{"type":599,"attrs":600},"link",{"href":601,"uuid":49,"anchor":49,"target":49,"linktype":602},"https://www.benchmarkminerals.com/lithium-ion-batteries/data-reports/price-assessments","url",{"text":604,"type":584},", compared to just 3.7% for electric arc furnace (EAF) steel demand.",{"type":579,"attrs":606,"content":607},{"textAlign":49},[608],{"text":609,"type":584},"Both electrodes for steel and battery anodes use synthetic graphite feedstock meaning electrode producers hold both the graphitisation expertise and coke feedstock supplier relationships needed to make the transition.",{"type":579,"attrs":611,"content":612},{"textAlign":49},[613],{"text":614,"type":584},"Electrode producers are mainly targeting the synthetic graphite EV battery market and to a lesser extent that energy storage systems (ESS) market.",{"type":616,"attrs":617,"content":619},"heading",{"level":618,"textAlign":49},4,[620],{"text":621,"type":584},"Which electrode companies are moving into anodes?",{"type":579,"attrs":623,"content":624},{"textAlign":49},[625],{"text":626,"type":584},"India’s HEG is moving into battery anode production currently after announcing in 2022 that it plans to build a 20,000 tonne capacity synthetic graphite anode facility. The company says the plant is now under construction, aiming for 2025 completion.",{"type":579,"attrs":628,"content":629},{"textAlign":49},[630,632],{"text":631,"type":584},"Japanese electrode producer Resonac is already in the space and has announced plans in the last quarter to expand its presence. ",{"text":633,"type":584},"US electrode supplier Sangraf Narni began construction on a brownfield anode plant in Italy earlier this year after successfully qualifying their synthetic anode active materials for ex-China EV and ESS markets. The facility is expected to contribute just under 9% of total European anode active materials supply between 2025 and 2026.",{"type":616,"attrs":635,"content":636},{"level":618,"textAlign":49},[637],{"text":638,"type":584},"What is driving electrode producers to anodes?",{"type":579,"attrs":640,"content":641},{"textAlign":49},[642],{"text":643,"type":584},"Electrode producers are moving into the new market to take advantage of high forecast growth for battery anodes over the coming years. Benchmark forecasts a global deficit starting from 2029. ",{"type":579,"attrs":645,"content":646},{"textAlign":49},[647],{"text":648,"type":584},"However, the electrode producers will not necessarily need to wait until the end of the decade to capitalise on rising anode demand. ",{"type":579,"attrs":650,"content":651},{"textAlign":49},[652],{"text":653,"type":584},"Despite a current global anode surplus driven by overcapacity in China, there are also anode deficits regionally across North America and Europe, markets which companies like Sangraf are targeting. Ex-China electrode firms are also keen to offer a source of Inflation Reduction Act (IRA)-compliant anode supply as demand for this rises from OEMs selling into the US market.",{"type":579,"attrs":655,"content":656},{"textAlign":49},[657],{"text":658,"type":584},"Further, electrode manufacturers are looking to diversify thanks to oversupply and low prices in their current market. Japan’s Resonac announced a minimum 20% global price increase on all new graphite electrode orders in a bid to stem falling revenue from price graphite electrode price declines over the first half of this year. ",{"type":579,"attrs":660,"content":661},{"textAlign":49},[662,664,670],{"text":663,"type":584},"The battery anode market is suffering similar problems, with high capacity synthetic graphite anodes falling 12.5% year-on-year in September, according to ",{"text":665,"type":584,"marks":666},"Benchmark’s Anode Price Assessmen",[667],{"type":599,"attrs":668},{"href":669,"uuid":49,"anchor":49,"target":49,"linktype":602},"https://www.benchmarkminerals.com/anode/data-reports/price-assessments",{"text":671,"type":584},"t. Still, the battery anode end market is in a stronger position than the market for graphite electrodes, making it a more attractive market already. ","Ex-China manufacturers of synthetic graphite electrodes for steel are moving away into battery anodes, galvanised by prospects of high lithium ion demand growth. “The shift is driven by the anticipated significant surge in demand for battery anode materials outside of China, with electrode end-use demand projected to grow at a relatively steadier rate year on-year,” […]",[674],{"slug":567,"name":568,"content":675},{"job_title":570,"image":676,"bio":573,"linkedin":574},{"filename":572},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"e65d535b-8e42-471a-b484-b6d3608a0001\", \"id\": \"\"}-->","article",[680,682,685,688],{"slug":681,"name":265},"anode",{"slug":683,"name":684},"batteries","Batteries",{"slug":686,"name":687},"critical-minerals","Critical Minerals",{"slug":689,"name":690},"graphite","Graphite","private",{"id":49,"alt":693,"name":693,"focus":693,"title":693,"source":693,"filename":694,"copyright":693,"fieldtype":695,"meta_data":696,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/efe7c7bb9a/bm-electric-arc-furnace-electrode.jpg","asset",{"alt":693,"title":693,"source":693,"copyright":693},"Sep 30, 2024","30th September 2024",[],[],1789982572956]