The needle coke market is estimated to grow at a CAGR of 6.4% to reach a valuation of USD 5.85 billion by 2027, from its current valuation of 3.59 billion in 2019. Needle coke, also called high-value petroleum, is a petrol high technology-intensive product and is a primary raw material used in the manufacturing of graphite electrodes for arc furnaces and lithium-ion batteries in the steel industry. It constitutes about 40% or more of the raw material costs in the manufacturing of graphite electrodes. It has remarkable properties such as high-temperature resistance, high electrical resistance, structural characteristics, and several others.
Top Companies Operating in the Global Needle Coke Market:
Phillips 66, Graphite India Limited, Baosteel Group, Sojitz Ject Corporation, China National Petroleum Corporation, Asbury Carbon Inc., Indian Oil Corporation Ltd., Graftech International, Sumitomo Chemical Company, and Mitsubishi Chemical Corporation
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The Needle Coke market investigation report assesses the global market for the Needle Coke industry and provides revenue and capability forecasts for the projected period of 2027. The factors that drive the industry's growth are highlighted in the report. The report divides the Needle Coke market into main categories such as forms, applications, end-users, technology, and others for a better understanding. These segments are thoroughly examined in order to provide a more accurate outlook for the global and regional markets. The report also examines the industry's major players, including their product portfolios, company overviews, strategic growth strategies, revenue generation, market share and market size, geographic presence, and development and manufacturing capabilities.
Market Overview:
A shift in the preference for electric vehicles amid the growing concerns of carbon emissions and pollution, lucrative growth opportunities for manufacturers of lithium-ion batteries are on the rise. The demand for lithium-ion batteries is mainly accredited to the increasing popularity of hybrid electric vehicles, battery electric vehicles, laptops, and smart devices. The demand is especially high in Asia Pacific Region owing to an increase in industrialization. Graphite is the major active anode material deployed in laptops and smartphones as a reliable and safe source of energy density. Even though a lot of research is being done to explore new anode materials, enhancement of graphite materials is expected to drive its use in lithium-ion batteries and propel the demand for the market.
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The Needle Coke market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Needle Coke market.
The global Needle Coke market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Product Type Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
- Coal-Based
- Petroleum-Based
Grade Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
- Super-premium Grade
- Premium Grade
- Intermediate-Premium Grade
Application Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
- Electrodes
- Silicon Metal Ferroalloys
- Carbon Black
- Rubber Compounds
- Others
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