The global needle coke market size is expected to reach 2,075.51 Kilotons in 2028 in terms of volume consumed and register a steady CAGR of 10.55% over the forecast period, according to latest analysis by Emergen Research. Needle coke market revenue growth is driven by factors such as increasing usage in production of graphite electrodes for the steel industry and shift towards electric and hybrid vehicles. Needle coke is a premium grade, high value petroleum coke used in the manufacturing of graphite electrodes of very low Coefficient of Thermal Expansion (CTE) for the Electric Arc Furnaces (EAFs) widely deployed in the steel industry. These electrodes are used to melt steel scrap.
Rising demand for needle coke is majorly driven by rising demand for steel from various end-use industries such as construction, automotive, fabrication, manufacturing, railways, and oil gas. It is also employed in the manufacture of synthetic graphite and anode material for lithium-ion batteries that are used in an electric vehicles. Graphite is the largest raw material used in lithium-ion batteries by size. Surge in demand for Electric Vehicles (EVs) is propelling inclining consumption of needle coke. The Tesla Model S electric vehicle contains up to 85kg of graphite. Penetration of EVs was limited to a few countries over the past few years.
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The Global Needle Coke Report is a panoramic study of the overall Needle Coke market published by Emergen Research and covers a wide-ranging analysis of the technological advancements and product developments in the Needle Coke market. The report provides a detailed analysis of the key factors of the Needle Coke market that are expected to have a positive impact on the growth of the Needle Coke industry.
Competitive Terrain:
The Global Needle Coke Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.
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Some Key Highlights from the Report
- Petroleum-based needle coke segment accounted for largest revenue share in 2020. This is a crucial ingredient used in the production of synthetic graphite electrodes for EAFs used in the steel industry and in lithium-ion battery anode material.
- Super-premium grade segment among the grade segments accounted for largest revenue share in 2020. Super-premium grade needle coke is being increasingly adopted owing to its low sulfur content and exceptional inherent properties. It exhibits 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 2020. Graphite has various properties such as high thermal conductivity and is resistant to heat. It is used under harsh conditions, such as in high-temperature settings and applications, and is therefore desired to have low thermal expansion coefficients, which makes it ideal for usage as main heating elements in EAFs.
Some major players in the market report include Asbury Carbons Inc., Baosteel Corporation, Graftech International Ltd., Indian Oil Corporation, Mitsubishi Chemical Holdings Corporation, Nippon Steel Chemical Material Co. Ltd., Phillips 66 Company, Posco Chemical, Sumitomo Corporation, Shandong Weijiao Holding Group Co. Ltd., and CNPC Jinzhou Petrochemical.
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Emergen Research has segmented the global needle coke market on the basis of product type, grade, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion, Volume, Kilotons; 2018-2028)
- Coal-based Needle Coke
- Petroleum-Based Needle Coke
- Shaft Calciner
- Rotary Kiln
Grade Outlook (Revenue, USD Billion, Volume, Kilotons; 2018-2028)
- Intermediate Grade
- Premium Grade
- Super-Premium Grade
Application Outlook (Revenue, USD Billion, Volume, Kilotons; 2018-2028)
- Graphite Electrodes
- Silicon Metal and Ferroalloys
- Lithium-ion Anode
- Carbon Black
- Rubber Compounds
- Other Applications
End-Use Outlook (Revenue, USD Billion, Volume, Kilotons; 2018-2028)
- Aluminum and Steel Industry
- Automotive
- Semiconductor
- Other End-use
Regional Outlook (Revenue, USD Billion, Volume, Kilotons; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- Israel
- Rest Of MEA
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