【2026 Q1 Lithium Battery Anode Materials】Shanghai Shanshan Retains No.1 Position ...

 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.

【2026 Q1 Lithium Battery Anode Materials】Shanghai Shanshan Retains No.1 Position in Artificial Graphite Anodes

Data shows that global lithium battery production in Q1 2026 reached 687.5 GWh, representing a year-on-year increase of approximately 47%; global anode material production reached 915,000 tons, up 46% year-on-year, maintaining growth in line with battery output.

Source: ICC Xinluo Information

Shanghai Shanshan's Artificial Graphite Anodes Continue to Rank First

In Q1 2026, total domestic artificial graphite anode material production exceeded 870,000 tons. Shanghai Shanshan maintained the largest share of artificial graphite anode material output, further consolidating its leading market position.

Source: ICC Xinluo Information

The Strong Continue to Dominate, While Rising Players Show Remarkable Potential

In Q1 2026, the anode material market continued to demonstrate a "strong-get-stronger" pattern overall. The combined market share of the Top 5 enterprises reached 70.4%, with little year-on-year change. Emerging companies that have delivered outstanding performances over the past two years, such as Kuntian, Carbon One, Kedda, and Jinhuineng, are also expected to show promising future development.

Source: ICC Xinluo Information

War Drives Up Coke Prices, Anode Material Price Increases Are Imminent

In Q1 2026, feedstock coke prices for anode materials continued to rise under the impact of the U.S.-Iran conflict. However, due to the traditional industry off-season and the pricing negotiation cycle for anode materials, the increased costs were not successfully passed downstream. Another major cost component for anode materials — graphitization outsourcing processing fees — also increased simultaneously. Since 2025, leading anode material enterprises have continuously experienced order overflow, resulting in a relatively high dependence on outsourced graphitization processing.

Entering 2026, with demand continuing to climb, high cost-performance and high-quality outsourced graphitization resources have become increasingly scarce, naturally driving prices upward.

Driven by the simultaneous rise in feedstock coke prices and outsourced graphitization processing costs, together with growing market demand, it is expected that anode material prices in Q2 will effectively pass through the cost pressure.

Source: ICC Xinluo Information

Overall, Q1 2026 recorded significant year-on-year growth. Supported strongly by both costs and the supply-demand structure, anode material prices are expected to rise to varying degrees in Q2. With resonating demand growth from both power battery and energy storage markets, the anode material market is expected to enter the peak season earlier, and annual output is projected to reach 4 million tons.

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