Carbon For Electrical Purposes Market

The global market for articles of graphite or other carbon for electrical purposes is projected to grow steadily with an anticipated CAGR of +3.6% in volume and +6.0% in value from 2022 to 2030. Consumption, production, imports, and exports have shown fluctuating patterns over the years, with certain countries like Norway, China, and the United States leading in consumption and production. Import and export prices have also varied, with notable growth rates observed in countries like the United Arab Emirates and Germany. Overall, the market for carbon for electrical purposes is set to see gradual growth in the coming years.

Market Forecast

Driven by increasing demand for articles of graphite or other carbon for electrical purposes worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.6% for the period from 2022 to 2030, which is projected to bring the market volume to 427K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.0% for the period from 2022 to 2030, which is projected to bring the market value to $8.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Articles Of Graphite Or Other Carbon For Electrical Purposes

In 2022, consumption of articles of graphite or other carbon for electrical purposes increased by 22% to 322K tons, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +31.2% against 2020 indices. Over the period under review, global consumption reached the peak volume at 334K tons in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

The global carbon for electrical purposes market size surged to $5.3B in 2022, rising by 26% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a relatively flat trend pattern. Over the period under review, the global market reached the peak level at $6.4B in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Norway (67K tons), China (40K tons) and Germany (37K tons), together comprising 45% of global consumption. Canada, India, the United States, Australia, Pakistan, Saudi Arabia, Russia, Singapore, Spain and Japan lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +45.2%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Japan ($844M), the United States ($568M) and Germany ($544M) were the countries with the highest levels of market value in 2022, together accounting for 37% of the global market. China, Canada, India, Singapore, Spain, Australia, Norway, Russia, Pakistan and Saudi Arabia lagged somewhat behind, together accounting for a further 18%.

Among the main consuming countries, Australia, with a CAGR of +37.7%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of carbon for electrical purposes per capita consumption was registered in Norway (12 kg per person), followed by Singapore (1.1 kg per person), Canada (0.6 kg per person) and Germany (0.4 kg per person), while the world average per capita consumption of carbon for electrical purposes was estimated at less than 0.1 kg per person.

In Norway, carbon for electrical purposes per capita consumption expanded at an average annual rate of +4.0% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Singapore (+29.8% per year) and Canada (+27.3% per year).

Production

World Production of Articles Of Graphite Or Other Carbon For Electrical Purposes

In 2022, production of articles of graphite or other carbon for electrical purposes increased by 13% to 192K tons, rising for the second year in a row after three years of decline. Overall, the total production indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +23.7% against 2020 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 33%. Over the period under review, global production reached the peak volume at 228K tons in 2017; however, from 2018 to 2022, production remained at a lower figure.

In value terms, carbon for electrical purposes production shrank to $3.6B in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 52% against the previous year. Over the period under review, global production attained the maximum level at $6.4B in 2017; however, from 2018 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (47K tons), Germany (38K tons) and the United States (17K tons), together comprising 53% of global production. India, Pakistan, Japan, Russia, Bangladesh, the UK, South Korea, Indonesia, Mexico and Turkey lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +26.3%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Articles Of Graphite Or Other Carbon For Electrical Purposes

In 2022, purchases abroad of articles of graphite or other carbon for electrical purposes increased by 29% to 161K tons, rising for the second consecutive year after two years of decline. In general, total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.7% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 73% against the previous year. Global imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, carbon for electrical purposes imports soared to $876M in 2022. Overall, total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +38.9% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 66% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports By Country

Norway represented the main importer of articles of graphite or other carbon for electrical purposes in the world, with the volume of imports reaching 67K tons, which was approx. 42% of total imports in 2022. Canada (25K tons) took the second position in the ranking, distantly followed by Australia (9.8K tons), the United States (8.2K tons) and India (8.2K tons). All these countries together held approx. 32% share of total imports. Saudi Arabia (7.2K tons), Singapore (6.8K tons), Spain (4.6K tons) and South Africa (3.5K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to carbon for electrical purposes imports into Norway stood at +4.9%. At the same time, Australia (+44.0%), Canada (+37.5%), Singapore (+28.0%), South Africa (+15.5%), India (+12.4%) and Saudi Arabia (+1.8%) displayed positive paces of growth. Moreover, Australia emerged as the fastest-growing importer imported in the world, with a CAGR of +44.0% from 2012-2022. Spain experienced a relatively flat trend pattern. By contrast, the United States (-12.0%) illustrated a downward trend over the same period. While the share of Canada (+15 p.p.), Norway (+5.9 p.p.), Australia (+5.9 p.p.), Singapore (+3.7 p.p.) and India (+2.9 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of the United States (-20.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($113M), India ($105M) and Singapore ($83M) were the countries with the highest levels of imports in 2022, together accounting for 34% of global imports. Canada, Spain, Australia, Norway, Saudi Arabia and South Africa lagged somewhat behind, together comprising a further 25%.

Among the main importing countries, Australia, with a CAGR of +32.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average carbon for electrical purposes import price amounted to $5,452 per ton, which is down by -4.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2019 when the average import price increased by 16%. As a result, import price attained the peak level of $5,955 per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($13,758 per ton), while Norway ($603 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+17.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Articles Of Graphite Or Other Carbon For Electrical Purposes

In 2022, shipments abroad of articles of graphite or other carbon for electrical purposes increased by 0.6% to 30K tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. Over the period under review, the global exports reached the peak figure at 47K tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, carbon for electrical purposes exports rose markedly to $575M in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 36% against the previous year. Over the period under review, the global exports attained the peak figure at $575M in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports By Country

China (9.2K tons) and the United States (6.3K tons) represented the main exporters of articles of graphite or other carbon for electrical purposes in 2022, reaching near 30% and 21% of total exports, respectively. South Korea (2.9K tons) took the next position in the ranking, followed by Taiwan (Chinese) (2.5K tons), India (1.7K tons) and Japan (1.5K tons). All these countries together took approx. 28% share of total exports. The following exporters - the United Arab Emirates (1,275 tons), Germany (862 tons), France (565 tons), the UK (522 tons) and Hong Kong SAR (521 tons) - together made up 12% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +53.4%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest carbon for electrical purposes supplying countries worldwide were the United States ($153M), China ($118M) and Japan ($98M), with a combined 64% share of global exports. Germany, South Korea, the UK, Taiwan (Chinese), Hong Kong SAR, France, the United Arab Emirates and India lagged somewhat behind, together comprising a further 25%.

Among the main exporting countries, the United Arab Emirates, with a CAGR of +55.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average carbon for electrical purposes export price stood at $18,880 per ton in 2022, growing by 9.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.5%. The pace of growth was the most pronounced in 2018 an increase of 24%. The global export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($63,835 per ton), while India ($3,406 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+13.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform