【Needle coke】 China's Needle Coke Industry Market Scale and Development Trend from 2023 to 2029

1. 2017-2022 Market Scale Data Graph:

Statistics show that China's needle coke industry market scale was 9.5 billion yuan in 2017, and 27.2 billion yuan in 2022. China's needle coke industry market scale (from 2017 to 2022) is as follows: 

Chart: China's Needle Coke Industry Market Scale (from 2017 to 2022)

2. Market Scale Data from 2023 to 2029

According to the forecast, China's needle coke industry market scale will reach 58 billion yuan in 2029. China's needle coke industry market scale forecast (from 2023 to 2029) is as follows:

Chart: China's Needle Coke Industry Market Scale Forecast (from 2023 to 2029)

Price trend

In the field of artificial negative electrode materials, needle coke is mainly used for high specific capacity negative electrode materials, while regular specific capacity negative electrode materials usually use relatively inexpensive low sulfur petroleum coke materials. Negative electrode manufacturers generally produce a mixture of low-sulfur petroleum coke and needle coke according to the battery cycle and specific capacity. Due to the high sulfur content of imported crude oil, the oil and gas conversion rate required by major refineries for energy conservation and consumption reduction has increased, and the coking rate has decreased. In addition, as small refineries have accelerated their withdrawal since 2021, China's low sulfur petroleum coke supply has continued to shrink, and the price has increased significantly, widening the price gap with high sulfur petroleum coke. Benefiting from the good market demand and the rising prices of crude oil related products such as petroleum coke, needle coke overall market price has increased, and the demand and prices of raw materials will also have a driving effect.

Industry Status

In recent years, with the high attention to "carbon neutrality" and "emission peak" in China, the market demand for needle coke has increased significantly; Leading enterprises in the needle coke industry have increased their investment in research and development. China's needle coke process technology continues to improve and make breakthroughs, and product quality continues to improve, even exported to the United States, Europe, Russia, India, and other countries and regions. The situation of heavy dependence of high-end needle coke on foreign countries is gradually changing, and the proportion of imports is declining. China has made breakthroughs in the research and development of needle coke, achieving industrial production, and improving the research and development technology and production level to a certain extent. However, in essence, there are still problems such as unstable product quality, which still cannot fully meet the demand for ultra-high power graphite electrode production. Compared with foreign technical level, there is still a big gap.

National policy

Since the "Eighth Five-Year Plan", the State Council, the National Development and Reform Commission and other departments have successively issued policies to support and standardize the development of needle coke industry, covering the development direction of needle coke, coal, petrochemical, new materials and other industries. During the "14th Five-Year Plan" period, major provinces in China have also proposed their own development goals for the needle coke industry. In April 2022, the State Council issued the "Opinions on Further Releasing Consumption Potential and Promoting Sustainable Recovery of Consumption", pointing out the need to vigorously develop green consumption. Support the accelerated development of new energy vehicles, focus on automobiles and household appliances, guide enterprises to promote in the countryside, encourage areas with conditions to carry out new energy vehicles and green intelligent household appliances in the countryside, promote the construction of supporting facilities such as charging points (stations), and effectively stimulate the demand for needle coke products.

Development trend

Needle coke is a rare product at home and abroad. In addition to electrodes, it can also be used in lithium-ion batteries, electrochemical capacitors, nuclear graphite and other aspects. In the international market, needle coke price has been rising. Because there are few manufacturers in China, the product supply exceeds demand. Developed countries such as the United States, Japan, and Germany have severely restricted the development of carbon products due to high energy consumption and pollution, leading to a year-on-year decline in needle coke production. It also brings new development opportunities to the production of needle coke and related technology research and development in China. For more information about the needle coke market, feel free to contact us.