The core reason why top-tier battery manufacturers are scrambling to purchase graphitized petroleum coke lies in its role as a key raw material for anode materials, which plays an irreplaceable part in enhancing battery performance, reducing costs, and meeting the demands of the new energy industry. The following analysis is conducted from three dimensions: technology, market, and industry.
I. Technology Dimension: Graphitized Petroleum Coke is the “Cornerstone” of Anode Materials
1. Graphitization Process Enhances Material Performance
Graphitized petroleum coke is transformed into high-crystallinity graphite through high-temperature treatment (usually exceeding 2,800°C), significantly improving its conductivity, stability, and cycle life. For example:
- BYD’s Blade Battery: Utilizing graphitized petroleum coke as the anode material, combined with a lithium iron phosphate cathode, it achieves high energy density (a more than 30% increase in energy storage per unit volume), long cycle life (over 2,000 charge-discharge cycles), and excellent safety (passing nail penetration tests without catching fire).
- Tesla’s 4680 Battery: With a high proportion of graphitized petroleum coke in its anode material, it supports high-power fast-charging capabilities (charging to 80% in 15 minutes) and excellent low-temperature performance (over 90% capacity retention at -20°C).
2. Low-Cost Advantage Supports Large-Scale Applications
Graphitized petroleum coke has a wide range of raw material sources (as a by-product of petroleum refining), with prices only one-third to one-half of those of natural graphite, and its processing technology is mature, which can significantly reduce the cost of anode materials. For example: - In 2025, the average price of low-sulfur petroleum coke in China is expected to be around 1,841 yuan per ton, while high-end natural graphite prices exceed 5,000 yuan per ton.
- BYD has reduced the cost of its Blade Battery by 15%-20% through large-scale procurement of graphitized petroleum coke, enhancing its market competitiveness.
II. Market Dimension: Explosive Demand in the New Energy Sector Drives a Tight Supply-Demand Balance
1. Surge in Demand for Power Batteries
Global sales of new energy vehicles are expected to exceed 30 million units by 2025, driving a more than 40% increase in demand for power batteries.
As a core raw material for anode materials, the demand for graphitized petroleum coke is climbing in tandem. For example:
- Each GWh of lithium batteries requires approximately 600 tons of graphitized petroleum coke, with global demand in the power battery sector expected to reach 1.2 million tons by 2025.
- Tesla’s Shanghai factory, with an annual production capacity increased to 1 million units, will require over 60,000 tons of graphitized petroleum coke.
2. Energy Storage Market Emerges as a New Growth Pole
Global installed energy storage capacity is expected to reach 500 GWh by 2025, with lithium-ion batteries accounting for over 80%.
Due to its high cost-effectiveness, graphitized petroleum coke has a penetration rate of over 70% in the anode materials of energy storage batteries, becoming a key focus for expansion by companies such as CATL and LG Energy Solution.
III. Industry Dimension: Supply Chain Integration and Policy-Driven Accelerated Layout
1. Vertical Integration of Supply Chains by Leading Enterprises
- BYD: By investing in carbon enterprises (such as investing 1 billion yuan to build an anode integration project), it has locked in high-quality production capacity of graphitized petroleum coke, increasing its profit margins by 8 percentage points.
- Tesla: It has signed long-term agreements with global low-sulfur petroleum coke suppliers (such as those in the United States and the Netherlands) to ensure a stable supply of raw materials.
2. Policy Dividends Unleash Industry Opportunities
China’s “dual carbon” strategy has driven an explosion in the new energy industry, with the petroleum coke industry market size expected to reach $26.67 billion by 2025, with the proportion of low-sulfur petroleum coke increasing to 45% (mainly used in high-end anode materials).
Stricter environmental policies (such as the “Management Plan for Petroleum Coke Use in Key Regions”) have accelerated industry consolidation, with leading enterprises further consolidating their market positions by upgrading their technologies (such as integrated enclosed storage and transportation and high-efficiency dust removal systems) to meet low-carbon requirements.
IV. Future Trends: Concurrent Technological Iteration and Industrial Upgrading
1. Gradual Penetration of Silicon-Based Anode Materials
Graphitized petroleum coke will be compounded with silicon-based materials (such as silicon-carbon anodes) to increase battery energy density (theoretical value exceeding 400 Wh/kg), meeting the demands of high-end markets.
It is expected that the proportion of silicon-based anode materials will reach 10% by 2025, driving structural growth in demand for graphitized petroleum coke.
2. Accelerated Global Layout
The construction of overseas anode production capacity (such as the additional demand for 600,000 to 700,000 tons of low-sulfur petroleum coke expected in 2026-2027) will drive the export expansion of Chinese graphitized petroleum coke enterprises, forming a full-chain competitive advantage of “raw materials-processing-applications.”
Conclusion
Graphitized petroleum coke has become a “black gold” resource sought after by top-tier battery manufacturers due to its technological performance, cost advantages, and industrial synergies. As the new energy industry continues to expand, its market position will be further consolidated, with technological upgrades and global layouts becoming key to enterprise competition.
Post time: Dec-08-2025