Needle Coke Market By Product Type (Petroleum Based and Coal Based), By Product Grade (Intermediate, Premium, and Super Premium), By Application (Graphite Electrodes, Lithium Ion Batteries, and Specialty Carbon), and By Region - Trends, Analysis and Forecast Till 2030

Needle Coke Market accounted for USD 3.75 Billion in 2020 and is estimated to be USD 7.13 Billion by 2030 and is anticipated to register a CAGR of 6.7%.

Needle coke is highly crystalline coke primarily used for the production of graphite electrodes for electric arc furnaces in the steel industry. Major factor driving the global needle coke market is the surging demand for graphite electrodes and lithium-ion batteries which utilize needle coke in their manufacturing process. In addition, electric vehicles production is also causing a rise in demand of the product, which is in turn propelling the growth of the target market.

The needle coke market has experienced a slowdown as a result of the coronavirus outbreak. Poor market mood has cut demand for products and services, causing manufacturing activity at steel plants to halt, resulting in a decrease in needle coke use. Manufacturers in the market are using plug-and-play technology to produce needle coke in response to consumer demand. Because the risk of new COVID-19 variants is high, they are employing contingency planning to anticipate the uncertainties that will arise as a result of the pandemic. As a result, enterprises in the needle coke market are doing strategic planning of their investments and indebtedness in order to stay financially afloat by reacting to fluctuating demand and supply trends.

Moreover, superior properties of needle coke such as low electric resistance, low coefficient of thermal expansion, and less breakage are expected to propel demand of needle coke throughout the forecast period. However, increasing environmental concerns regarding the needle coke production is restraining the growth of the global needle coke market. Additionally, decline in graphite electrodes capacity may also hamper the target market in the near future.

Needle coke market has been segmented into product type, product grade, application, and region.

On the basis of product type, the global needle coke market has been bifurcated into petroleum based and coal-based needle sub-segments. Based on product grade, the global market is segmented into intermediate, premium and super premium grades. On the basis of application, the target market is segmented into graphite electrodes, lithium ion batteries and specialty carbon. Currently, graphite electrode application sub-segment is dominating the global market owing to its properties such withstanding extreme temperature conditions, low coefficient of thermal expansion and resistant to electricity.

Regional Insights:

Based on region, the global needle coke market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. Asia-pacific region is dominating the global needle coke market owing to the growing steel and aluminium industry in the region, especially in China. China market is expected to maintain its dominance over all the regions throughout the forecast period. Asia-pacific market is followed by North America and Europe. North America market is anticipated to witness considerable growth during the forecast period, owing to technological advancements in the region. Latin America is expected to witness below average demand owing to low downstream needle coke demand in the region.

Needle Coke Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global oncology drug market report based on Product Type, Product Grade, Application and Region.

Needle Coke Market, By Region:

• North America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • U.S.
  • Canada

Key players operating in the needle coke market include Phillips 66, Mitsubishi Chemical Corporation, JXTG Holdings, Inc., Indian Oil Corporation Ltd., Baotailong New Material Co., Ltd., Royal Dutch Shell PLC, Bao-steel Group, C-Chem Co. Ltd., Reliance Industries Ltd., Essar Oil Ltd, and FangDa Carbon New Material Co. Ltd.

• Phillips 66
• Mitsubishi Chemical Corporation
• JXTG Holdings, Inc.
• Indian Oil Corporation Ltd.
• Royal Dutch Shell PLC
• Baotailong New Material Co., Ltd.
• Bao-steel Group
• C-Chem Co. Ltd.
• Reliance Industries Ltd.
• Essar Oil Ltd