According to IMARC Group latest report titled “Needle Coke Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on needle coke market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global needle coke market size reached US$ 4.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.
What are needle coke?
Needle coke refers to a specialty grade carbon raw material derived from coal tar pitch, ethylene tar pitch, solvent-refined coal, low-sulfur vacuum residues, petroleum fluidized catalytic cracking (FCC) decant oil, etc. It possesses high strength, electrical conductivity, real and bulk density, etc. Needle coke has a low coefficient of thermal expansion (CTE) and heteroatom and ash content. It has a strong and parallel orientation of turbostratic layer structure and the particular physical shape of the grains. Consequently, needle coke exhibits excellent graphitizability.
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What are the growth prospects and trends in the needle coke industry?
The widespread adoption of this raw material as a carbonaceous filler in the production of graphite electrodes for ultra-high power electric arc furnaces (EAF) in the steel smelting industry is primarily augmenting the needle coke market. Furthermore, the rising usage of these electrodes to melt scrap substitutes and maintain the temperature of molten steel, as they have low resistivity, high mechanical strength, excellent thermal shock resistance and oxidation resistance, etc., is positively influencing the global market. Apart from this, the escalating demand for needle coke in the manufacturing of synthetic graphite, which is used to produce lithium-ion batteries for EVs, is acting as another significant growth-inducing factor. Moreover, the inflating need for electric vehicles, on account of the growing consumer environmental concerns, is also bolstering the market growth. Besides this, extensive investments in RD activities for developing needle coke from low-value heavier hydrocarbon streams without any feed pre-treatment process are further catalyzing the global market. Additionally, the introduction of heavy energy storage batteries is expected to fuel the needle coke market in the coming years.
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The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Asbury Carbons Inc.
- C-Chem CO. Ltd (Nippon Steel Corporation)
- ENEOS Holdings Inc.
- GrafTech International Ltd.
- Graphite India Limited
- HEG Limited
- Mitsubishi Chemical Holdings Corporation
- Mott Corporation
- Phillips 66 Company
- Sojitz Corporation
- Sumitomo Corporation
- Tokai Carbon Co. Ltd
Needle Coke Market Segmentation:
Our report has categorized the market based on region, type, grade, application and end use industry.
Breakup by Type:
- Coal-tar Pitch Derived
- Petroleum Derived
Breakup by Grade:
- Super Premium
Breakup by Application:
- Graphite Electrodes
- Silicon Metal and Ferroalloys
- Lithium-ion Battery
- Carbon Black
- Rubber Compounds
Breakup by End Use Industry:
- Aluminum and Steel
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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