Steel and automotive industry are the two major contributors in generating the demand for needle coke in the global market. The development of these industries is continuously driving the growth of needle coke, generating stronger demand for the crystalline material in the downstream ecosystem. In the coming years, needle coke is expected to witness high demand due to the constant push from the government bodies toward the adoption of electric vehicles throughout the world.
Read Report Overview: Needle Coke Market
Needle coke is extracted from two carbon sources and is of two types: petroleum-based and coal-based. Petroleum-based needle coke is significantly providing a push to the needle coke market in the end-use industries, where it is being used as a crucial raw material.
The global needle coke market is expected to account for a market value of $4.50 billion by the end of 2024. The significant demand for needle coke is primarily generated from industries such as automotive, steel, and electronics. The rising demand for EVs in the market is directly accelerating the growth of the needle coke market.
Needle coke is categorized into two types: oil-based and coal-based needle coke. Petroleum-based needle coke is used to produce ultra-high purity (UHP) needle coke, which finds its applications in the production of the graphite electrode that is used for steel manufacturing in EAF. Petroleum-based needle coke is also used in the production of lithium-ion battery anodes, which are used in electric vehicles for delivering high performance. Some of the key players of U.S.-based petroleum needle coke are GrafTech International Ltd. and Phillip 66 Company.
Lithium-ion battery anode segment is the fastest-growing end user of the needle coke market. The growth and development in the EV industry is driving the demand generated for the petroleum-based needle coke in the market.
In terms of application, in 2018, graphite electrodes acquired the largest market share in the needle coke application market. This is due to the growth of the steel industry year-on-year and stringent regulatory norms by government organizations of countries, promoting the EAF steelmaking process. These graphite electrodes are also used in ladle furnace and submerged arc furnace.
The demand for needle coke varies according to various geographical regions. The needle coke market holds a prominent share in various countries of North America, Asia-Pacific (APAC), Europe, and Middle East. In APAC, China is expected to account for the highest CAGR during the forecast period.
In the global needle coke market, APAC accounted for the most significant market share in 2018. In APAC, China was the leading country, driven by its vast production capacity, excessive industrial base, and financial support of government bodies. China has giant players of the needle coke market operating in the country. Some of the key players include PetroChina Company Limited, JXTG Nippon Oil & Energy Corporation, and Sinosteel Corporation. China produced XX kilotons of needle coke in 2018, fulfilling the demand generated from its application segment. The key application segments of the needle coke market are graphite electrodes, lithium-ion battery anodes, and special carbon products. China is one of the largest producers of graphite electrodes and lithium-ion batteries, thus propelling the growth and demand for needle coke in the country.
Key Companies in the Global Needle Coke Market
The companies profiled in the report are Mitsubishi Chemical Holdings Corporation, Phillips 66 Company, PetroChina Company Limited, Indian Oil Corporation Ltd, Sinosteel Corporation, JXTG Nippon Oil & Energy Corporation, Shandong Yida New Materials Co., Ltd, GrafTech International Ltd., C-Chem CO., Ltd., and Sumitomo Corporation, among others.
Key Questions Answered in the Report:
- What is the estimated global needle coke market size in terms of value and volume from 2017 to 2024, along with the year-on-year growth rates and compound annual growth rate (CAGR) during the forecast period, 2019-2024?
- What are the different applications of needle coke and the growth pattern for each application in terms of value in different countries?
- What are the major countries that provide growth opportunities for the global needle coke market?
- How is the supply-demand scenario of the global needle coke market expected to look like from 2017 to 2024?
- What is the market share of different players operating in the market, based on capacity?
- What are the major brownfield and greenfield opportunities in the market?
- What is the production volume of needle coke of each country?
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the needle coke market includes Phillips 66, JXTG Nippon Oil & Energy , C-Chem Co., Ltd. , Shijiazhuang Deli Chemical Co., Ltd., Mitsubishi Chemical Corporation, Seadrift Coke, LP , Sumitomo Corporation, Indian Oil Corporation Ltd., Reliance Industries Ltd., Fangda Carbon New Material Co., Ltd., Shanxi Hongte Coal Chemical Industry, Baotailong New Materials Co., Ltd. and Sinosteel Corporation.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Needle Coke Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/needle-coke-market/download-sampleMarket DynamicsGrowing steel manufacturing industries, especially in the Asia Pacific region along with increasing demand from graphite electrodes, is expected to be the key growth factor.
Robust demand for steel and aluminum from automobiles, heavy equipment, and machinery, aircraft sector is further supporting the market growth.
In addition, superior properties such as low electric resistance, a coefficient of thermal expansion, less breakage and spalling are anticipated to fuel the market over the forecast period.
Whereas, instability in crude oil and natural gas market affects the demand and supply are expected to hamper the market growth.This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis.
The Global Needle Coke Market Report has been recently formulated and added by Emergen Research, which aims to provide insightful data to the readers to help them make informed business decisions.
Conversations with the topic specialists were directed to acquire quantitative and subjective data and approve our statistical surveying discoveries.Notwithstanding, we don't confine our essential meetings just to the business chiefs.
Our group covers the whole worth chain while confirming the information.
The latest things, which incorporate the drivers, limitations, and openings, are additionally inferred through the essential examination measure.
· Which segment and sub-segment are expected to show significant growth during the forecast period?
· What will the market size and growth rate be throughout the forecast period?
Needle Coke Market Overview: The latest research report on the Needle Coke market has been formulated to offer a comprehensive assessment of the economic growth as well as the profitability of the Needle Coke market in light of company performance for the forecast years from 2019 to 2026.Needle Coke Market study provides a meticulous assessment of the industry for the estimation period of 2019–2026.
The market research on Needle Coke is concise, yet it encompasses all critical aspects, which are pivotal and relevant for a customer of the Needle Coke industry.The research study, titled “Needle Coke Market Research Report 2019,” assesses the historical performance and the current standing of the market for an exhaustive understanding, underlining the dynamics of the demand and supply of Needle Coke Market in 2018.The Needle Coke report profiles the key players of the sector to give a clear perspective of the competitive landscape of the Needle Coke Outlook.
It also offers market new product analysis, financial overview, executive strategies, and marketing trends.The needle coke market is projected to grow at a rate of 6.4% in terms of value, from 2020 to reach USD 5.85 Billion by 2027.This report covers the recent COVID-19 incidence and its impact on Needle Coke Market.
The report consists of an in-depth analysis of substantial returns that are estimated to be accumulated at the end of the forecast period.
This report provides insights into a dynamic competitive environment.
Additionally, it also considers the segmentation study provided in the report on the basis of the type of product and application.Executive Summary: It provides a summary of the critical studies, growth rate, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.Production by Region: In this section, the report offers essential information pertaining to import and export, production, revenue, and key players of all regional markets covered in the report.Profile of Manufacturers: Each player profiled in this section is analyzed effectively through SWOT analysis, their products, production, value, capacity, and other vital factors.The objectives of the report are:– To study and forecast the market size of Needle Coke Market against the global landscape.
