Needle Coke Market - Regional Analysis
Asia Pacific Excluding Japan Market Insight
The market in the Asia Pacific Excluding Japan is experiencing moderate growth of electric vehicles, and is expected to hold a market share of 26.24% in 2036. The brands have penetrated deeper into the market and maintain a competitive edge through strategic pricing. The industrialization in the region is fast, with commercial spaces emerging frequently. This drives the demand for pure carbon steel for the construction of buildings and warehouses, which is impacting the growth of the needle coke market in the Asia Pacific Excluding Japan market.
India is seeing growth in steel production, which is fueling the growth of graphite electrodes. The electric arc furnace is also a widely adopted furnace method that enables faster steel production and minimizes carbon emissions. Being a developing nation, the focus is on cost-effective steel making, which can be achieved through EAF. India is pushing the buyers towards green vehicles to curb the pollution levels, which is propelling the growth beyond steel. As per the World Steel Association, the crude steel production of India reached 149.6 million tons in 2024, showing the strong demand for EAF-based steel in structural use.
China is home to key EV automotive manufacturers such as BYD, which have mastered electric vehicle production. The demand for their innovative vehicles has seen a hike, leading to higher usage of graphite electrodes. The electrical spare market of Japan is also quite booming, driven by the stable supply chain, which is pushing manufacturers to produce cost-effective electrodes to export to other countries. The cost-effective development of these materials is enhancing the market of needle coke in China.
Europe Market Insights
Europe accounted for a market share of 24% of the global needle coke market in 2025, driven by sustainability and environmental protection strategies, which have supported the growth of the needle coke market. The market in Europe is expected to grow by 7.38%. Europe has also subsidized the adoption of the electric arc furnace in order to minimize carbonization caused by the traditional furnace. In April 2025, Tata Steel announced the opening of a USD 1.5 billion electric arc furnace in its UK site taking help of the UK government, and is also planning to start operations by 2027. Europe’s shift towards EAF steelmaking is driving a significant growth in the region.
The UK has a huge adoption of electric vehicles, which is enhancing the market growth and is propelling its expansion. Electric vehicles use a large number of electrodes that power the vehicles through the battery system. The rising adoption of EVs in the UK is directly impacting the growth of the electrode industry. Industrialization in the country is growing at a rapid pace, which is further demanding high-strength steel in the development of structures and buildings. This has significantly increased the demand for EAF steel as it is stronger than other varieties of steel, ensuring higher adoption. The UK market is led by Tata Steel and British Steel, who have pioneered the EAF-based steel manufacturing and dominate the market.
Germany holds a strong steel manufacturing ecosystem with strong demand from the government to ensure decarbonization. This has pushed manufacturers across Germany to produce high-performance steel using electric arc furnacing, employing graphite electrodes in order to curb the pollution levels. Germany is adapting to EV culture quite fast, owing to the sustainability aspect, for which the government has subsidized the cost to a great extent, which is again fuelling the growth of the needle coke market of Germany.
North America Insights
The region held 23% of the global needle coke market share in 2025 owing to the rise in electric vehicles, which employ graphite electrodes. The urbanization in the regional countries has demanded durable and high tensile steel materials, which is fueling the market expansion. Robust manufacturing and development in the electric arc furnace have further developed a strong market demand for needle coke because of high performance in graphite electrodes, which use the component as a raw material. North America is projected to reach a market valuation of USD 3,163.85 million by the end of the forecast period
The U.S. holds a substantial market for needle coke because of the rise in the adoption of EVs among the population. The government's push towards green vehicles and strategies to minimize carbon emissions has led to subsidized prices of electric vehicles, which is fueling the market growth. The same measure is also forcing the domestic steel manufacturers to minimize emissions and adopt the electric arc furnace, which operates on electricity.
Canada also has a well-established market in terms of the needle coke market because of a huge rise in the. The market in Canada is also fueled by the growth of lithium-ion batteries, which employ graphite electrodes to power the vehicles. This has expanded the market scope of the needle coke market in Canada. Urbanization is also growing at a fast pace in the country, which is fueling the demand for EAF steel to build strong and durable structural homes, impacting the growth of the needle coke market.
