By the end of 2032, the needle coke market will reach US$ 5.86 billion, growing at a CAGR of 3.7% from US$ 4.07 billion in 2022.
The United States holds 91.4% of the market share in North America, the largest market on earth. The steel and aluminium industries’ heavy reliance on needle coke and advancements in technology are largely to blame for this.
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How Rising Trend of Electric Vehicles to Drive Consumption of Needle Coke in Batteries?
Although the penetration of electric vehicles has been gradual, over the next 10 years it is anticipated that this will change as more regulations are put in place to minimise carbon and other pollutants. The market for needle coke is expected to be considerably impacted by the preference for hybrid electric vehicles.
Making needle coke can be done in a number of ways. Due to the quantity of scrap, the production of steel using the electric arc furnace technology has substantially increased in developed countries throughout Europe and America.
Over 90% of steel is manufactured in the Middle East using the electric arc furnace process, compared to about 60% of steel produced in India. These elements have caused these furnaces to sell a substantial amount of needle coke.
Key Companies Profiled
- Mitsubishi Chemical Holding Corporation
- Indian Oil Corporation
- Phillips 66
- JXTG Holdings Inc.
- Seadrift Coke L.P.
- C-Chem Co., LTD
- Petroleum Coke Industries Company K.S.C
- Baotailong New Material Co., Ltd.
- Bao-steel Group
- Sinopec Shanghai Petrochemical Company Limited
- Shanxi Hongte Coal Chemical Co Ltd
- Sinosteel Anshan Research Institute of Thermo-Energy Co.
- Petrochina International Jinzhou Petrochemical Co., Ltd
- Shijiazhuang Deli Chemical Co.
- Petrocokes Japan Ltd
In order to help market participants, make strategic decisions and strategically target both the domestic and international markets, the Needle Coke market research examines the important issues relevant to the sectors, assesses the developing trends, gives essential insights.
A macroeconomic and corporate forecast of the Needle Coke market is provided by the report. In this research, industry leaders offer recommendations that will get the market’s players ready for a better tomorrow.
Key Highlights
- The study analyses the state of the latest worldwide Needle Coke market.
- The paper investigates the pandemic scenarios that are most likely to have a long-term impact on the sector.
- The paper examines in great detail how the world market for Needle Coke is changing.
- The research examines how the worldwide Needle Coke market is changing, the target markets with the greatest prospects, and emerging trends that could directly or indirectly affect your organisation.
- The report identifies prospects as well as the main obstacles you may face in the near future.
A thorough analysis of the entire market is made possible by the inclusion of granular segmentation by end-use, category, function, and geographic region in the global Needle Coke market report. Similarly, the existing and anticipated expansion of the Needle Coke business affects the market share of publications.
The research also includes profiles of the Needle Coke industry’s goods, sales, returns, competitive landscape, market structure, industry drivers, and key business challenges. The study calculates the market’s current growth rate, projected future growth, and the key drivers that will affect that growth in 2022. The research also anticipates sales for the years 2022 to 2032 and calculates the number of product sold from 2015 to 2020.
Needle Coke Market: Segmentation
- Needle Coke Market by Type :
- Petroleum-derived Needle Coke
- Coal Tar Pitch-derived Needle Coke
- Needle Coke Market by Grade :
- Intermediate Premium Needle Coke
- Base Premium Needle Coke
- Super Premium Needle Coke
- Needle Coke Market by Application :
- Graphite Electrodes
- Lithium-ion Batteries
- Other Applications
- Needle Coke Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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The key business strategies discussed in this market research revolve around-
- How key players in the Needle Coke market are maintaining their competitive advantage in the wake of globalization?
- What changing dynamics in the Needle Coke industry specify about the future opportunities for manufacturers?
- How Covid-19 pandemic affected sales in the Needle Coke market and what strategies are expected to recover from its impact?
- What business tactics are gaining attention and influencing Needle Coke market rivalry?
- What is the current Needle Coke market share?
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