Global Needle Coke Market Forecast to 2030
The global needle coke market size reached USD 2,293.5 billion in 2021 and is expected to register a revenue CAGR of 8.7% during the forecast period, according to the latest analysis by Emergen Research. Increasing production of graphite electrodes for the steel industry, especially in emerging countries, growing usage of smart devices, and high demand for graphite batteries are some key factors driving market revenue growth. Needle coke is a premium-grade, high-value petroleum coke used in the manufacturing of graphite electrodes with a very low coefficient of thermal expansion (CTE). These graphite electrodes are used in electric arc furnaces (EAFs) in the steel manufacturing industry for melting scrap metal and producing steel. The high tensile strength, good chemical stability, and high thermal conductivity of needle coke enable the manufacturing of ultra-high-power graphite electrodes and artificial graphite cathode materials.
The comprehensive and significant market research study on Needle Coke offers business strategies, qualitative and quantitative analyses, and emerging trends. The report provides an in-depth examination and analysis of the key elements of the global needle coke market. By conducting extensive primary and secondary research and analyzing the drivers, constraints, challenges, trends, and opportunities of the needle coke market, the research analysts created this report.
Rising demand for semiconductors and various metals, materials, and components from aerospace and defense, building and construction, automotive, marine, and oil and gas, among various others, is driving an inclining demand for needle coke. Needle coke is highly preferred for its low thermal expansion coefficient, low porosity, and high conductivity and is widely used in the manufacture of synthetic graphite and anode material for lithium-ion batteries, which are used in electric vehicles (EVs). Graphite is the largest raw material in lithium-ion batteries by size. A surge in demand for EVs owing to increasing environmental impact and rising carbon emissions and favorable initiatives by governments for a green and low-carbon economy is boosting revenue growth in the needle coke market. For instance, the Tesla Model S electric vehicle contains up to 85 kg of graphite. Increasing penetration of electric vehicles and shifting consumer preference towards hybrid-electric cars are factors expected to continue to drive market revenue growth during the forecast period.
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Competitive Terrain:
The global Needle Coke industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
Asbury Carbons, Baosteel Group Co., GrafTech International, Indian Oil Corporation Ltd., Mitsubishi Chemical Holdings Corporation, Nippon Steel Chemical & Material Co. Ltd., Phillips 66 Company, Posco Chemical, Sumitomo Corporation, and China National Petroleum Corporation
Research Report on the Needle Coke Market Addresses the Following Key Questions:
- Who are the dominant players of the Needle Coke market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Needle Coke market?
- What are the key growth drivers and restraining factors of the Needle Coke market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Needle Coke market and its key segments?
Market Overview:
The report bifurcates the Needle Coke market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Product Type Outlook (Revenue, USD Million, Volume, Kilotons; 2019-2030)
- Coal-based Needle Coke
- Petroleum-Based Needle Coke
- Shaft Calciner
- Rotary Kiln
- Grade Outlook (Revenue, USD Million, Volume, Kilotons; 2019-2030)
- Intermediate Grade
- Premium Grade
- Super-Premium Grade
- Application Outlook (Revenue, USD Million, Volume, Kilotons; 2019-2030)
- Graphite Electrodes
- Silicon Metal and Ferroalloys
- Lithium-ion Anode
- Carbon Black
- Rubber Compounds
- Others
Regional Landscape section of the Needle Coke report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights From the Report
- Petroleum-based needle coke segment accounted for relatively large revenue share in 2021. Increasing production of synthetic graphite electrodes for electric arc furnaces in the steel industry and lithium-ion battery anode material has significantly increased demand for petroleum-based needle coke.
- Super-premium grade segment accounted for largest revenue share in 2021. Super-premium grade needle coke is being increasingly adopted owing to low sulfur content and exceptional inherent properties such as low puffing rate, low coefficient of thermal expansion, and larger particle size, which allow 5% higher productivity in steel recycling.
- Graphite electrodes segment accounted for largest revenue share in 2021. Graphite has properties such as high thermal conductivity and heat resistant, which can be used under harsh conditions such as in high-temperature atmospheres. Low thermal expansion coefficients property of graphite enables use as the main heating element in an electric arc furnace.
- Needle coke market in Asia Pacific accounted for largest revenue share in 2021. Growing automotive sector along with rapid expansion of the steel industry in countries in the region are key factors driving increased demand for aluminum in Asia Pacific. Steel is widely utilized in building and construction sector owing to strength and durability, ductility, and resistance. Rapid urbanization and infrastructure development in various developing countries is driving rapid demand for steel and other materials from the construction sector. Moreover, Asia Pacific is a major consumer for semiconductors, accounting for over 50% of global consumption owing to major electronics market along with expanding automotive sector.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Needle Coke market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
- Data and information related to the consumption rate in each region
- Estimated increase in the consumption rate
- Proposed growth of the market share of each region
- Geographical contribution to market revenue
- Expected growth rate of the regional markets
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