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 share. 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 is needle coke?
Needle coke represents a premium specialty variant of petroleum characterized by its highly crystalline structure. It is derived from sources, such as coal-tar pitch, ethylene tar pitch, solvent-refined coal, petroleum fluidized catalytic cracking (FCC) decant oil, and low-sulfur vacuum residues. The distinguishing properties of needle coke include superior strength, high-temperature resilience, a lower coefficient of thermal expansion (CTE), oxidizability, bulk density, and exceptional electrical conductivity. Owing to its strong parallel alignment of turbostratic layer structure and the distinctive physical shape of the grains, this substance exhibits excellent graphitizability. As a result, needle coke finds widespread applications as a crucial ingredient for graphite electrodes in electric furnaces.
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What are the growth prospects and trends in the needle coke industry?
The escalating product demand in the manufacturing of synthetic graphite, which is vital for producing lithium-ion batteries for electric vehicles (EVs), smartphones, and other wearable devices, is among the primary factors driving the needle coke market. Besides this, the elevating requirement for this substance for the specialty carbon production, used as a viscosity control additive for semi-conductive cable compound and electromagnetic shielding in the electronics industry, is further augmenting the market growth. Moreover, the growing popularity of needle coke as a carbonaceous stuffing in the manufacturing of graphite electrodes for high-power electric arc furnaces (EAF) is also catalyzing the global market. Apart from this, the launch of several policies by the government bodies encouraging the uptake of hybrid EVs, the rising need for heavy energy storage batteries, emerging applications of specialty carbon, and technological advancements in the production process are acting as significant growth-inducing factors. Furthermore, ongoing research and development (R&D) activities aimed at creating this substance from low-value, heavier hydrocarbon streams without effective feed pre-treatment processes are expected to bolster the needle coke market in the coming years.
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Competitive Landscape:
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:
- Intermediate
- Premium
- Super Premium
Breakup by Application:
- Graphite Electrodes
- Silicon Metal and Ferroalloys
- Lithium-ion Battery
- Carbon Black
- Rubber Compounds
- Others
Breakup by End Use Industry:
- Aluminum and Steel
- Automotive
- Semiconductor
- Others
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
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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