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According to a new report published by Transparency Market Research (TMR) titled ‘Synthetic Graphite Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ the global synthetic graphite market was valued at around US$ 4 Bn in 2017 and is anticipated to expand at a CAGR of more than 5% during the forecast period. Expansion in the global synthetic graphite market is driven by factors such as increase in demand for synthetic graphite in the metallurgy, electronics, and storage & energy transmission end-use industries. Synthetic graphite is used to manufacture graphite electrodes that are used in electric arc furnaces in order to manufacture metal products. Synthetic graphite can withstand high temperatures. It exhibits superior thermal expansion and thermal shock resistance, which makes it a favorable material for high-temperature applications. The synthetic graphite market in Asia Pacific is expanding at a significant pace due to an increase in demand for synthetic graphite in lithium-ion batteries in the region.