Since the last couple of decades, the global use of petroleum products has doubled. During the refining of hydrocarbons, a number of by-products are produced. The exceptional grade of needle coke is a hard and compact mass generated by a single-direction carbon needle structure. This coke is highly crystalline and has the qualities for graphite electrode production. Steel is the most widely utilized material in a variety of sectors around the world due to its adaptability. Needle coke is an important component of the steel recycling process, which drives up needle coke demand in the market.
- Data Bridge Market Research analyses that the Needle Coke Market was valued at USD 4.03 billion in 2021 and is expected to reach USD 7.19 billion by 2029, registering a CAGR of 7.50% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Global Needle Coke Market Definition
Needle coke is the principal raw material used in the steel and aluminium industries to make graphite electrodes from arc furnaces. It is a unique sort of coke with outstanding structural qualities, high electrical resistance, high-temperature resistance, thermal expansion coefficient (CTE) and oxidizability. In manufacturing graphite electrodes, needle coke accounts for more than 40% of the raw material expenses.
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Global Needle Coke Market Scope
The needle coke market is segmented on the basis of type, grade and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Petroleum Derived
- Coal-Tar Pitch Derived
Based on type, the needle coke market is segmented into petroleum derived and coal-tar pitch derived.
Grade
- Intermediate
- Premium
- Super Premium
On the basis of grade, the needle coke market is segmented into intermediate, premium, and super premium.
Application
- Graphite Electrode
- Special Carbon Material
- Lithium Ion Battery
- Other Applications
The needle coke market is also segmented on the basis of application into graphite electrode, special carbon material, lithium Ion battery, and other applications.
Needle Coke Market Regional Analysis/Insights
The Needle Coke market is analysed and market size insights and trends are provided by country, type, grade and application as referenced above.
The countries covered in the needle coke market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the needle coke market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the increasing end-user industries for steel production in this region.
Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period of 2022 to 2029 due to the growing number of government initiatives to support domestic manufacturing in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Needle Coke Market Share Analysis
The needle coke market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to needle coke market.
Some of the major players operating in the needle coke market are:
- Phillips 66 Company (US)
- Mitsubishi Chemical Corporation. (Japan)
- GrafTech International (US)
- Sumitomo Chemical Co., Ltd (Japan)
- Indian Oil Corporation Ltd (India)
- China National Petroleum Corporation (China)
- Asbury Carbons (US)
- Baosteel Group Hu ICP (China)
- Sojitz JECT Corporation (Japan)
- Graphite india Limited (India)
- Eastman Chemical Company (US)
- Royal Dutch Shell Plc (UK)
- Eni S.p.A. (Italy)
- Shanghai Petrochemical (China)
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