Global Needle Coke Market Report and Forecast 2024-2032

Global Needle Coke Market Outlook

The global needle coke market is expected to grow at a CAGR of 6% in the forecast period of 2024-2032.

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Increasing Demand for Super Premium Grade Segment to Augment the Needle Coke Industry Growth

Based on grade, the super premium grade segment accounts for a significant share in the needle coke industry. This can be attributed to the rare inherent properties as well as the low content of sulphur found in the needle coke of this grade, which, in turn, allows this segment to have a wide variety of applications related to carbon and steel. Moreover, the needle coke of super premium grade possesses properties like large particle size, low puffing rate, and low coefficient of thermal expansion. These properties allow better productivity in steel recycling operations. Furthermore, super premium grade is perceived as the best grade for the production of premium quality ultra-high power (UHP) graphite electrodes.

The Asia Pacific to Provide Enhanced Growth Opportunities to the Needle Coke Industry

Region-wise, the Asia Pacific is expected to witness a robust growth over the forecast period. The initiatives of Indian government to promote the culture of manufacturing goods domestically are expected to reduce dependence on imports and increase the regional production capacity. This, in turn, is likely to present industrial manufacturers and graphite producers with immense growth opportunities. Moreover, the emergence of technologies in the Asia Pacific like electric-arc furnace (EAF), which are already being used in other regions like North America, is anticipated to propel the growth of the market over the forecast period.

Needle Coke: Market Segmentation

Needle coke is a petroleum coke of high value and premium grade that is utilised in the production of graphite electrodes, which possess low coefficient of thermal expansion. These electrodes are used in the steel industry for electric arc furnaces. Highly specific calcination conditions, coking conditions, and feedstocks are needed for needle coke production.

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By type, the market is divided into:

• Coal-Based Needle Coke
• Petroleum-Based Needle Coke

Based on grade, the industry can be segmented into:

• Premium Grade
• Intermediate Grade
• Super Premium Grade

The market is divided based on application into:

• Lithium-Ion Battery
• Electrode
• Special Carbon Material
• Rubber Compounds
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Increasing Demand for Electric Vehicles to Bolster the Growth of the Needle Coke Industry

The rapidly rising demand for electric vehicles has had a positive impact on the growth of the needle coke industry. The vehicle manufacturers are finding a growing number of applications of lithium-ion batteries in battery electric vehicle (BEV) and hybrid electric vehicle (HEV) industries, and as a result, the needle coke industry is thriving. Moreover, the favourable government policies motivating people for the use of electric vehicles have proved to be a key driver of the growth of the market.

Over the forecast period, the growing awareness regarding the reduction of carbon emissions and the volatility of fuel prices are expected to be important factors that will determine the global standing of the market.

Key Industry Players in the Global Needle Coke Market

The report gives a detailed analysis of the following key players in the global needle coke market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Mitsubishi Chemical Corporation
• GrafTech International Holdings Inc.
• C-Chem Co. Ltd.
• Phillips 66 Company
• Asbury Carbons Inc.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report