Global Needle Coke Market – Industry Trends and Forecast to 2029

Global Needle Coke Market Analysis and Size

Since the last couple of decades, the global use of petroleum products has doubled. During the refining of hydrocarbons, a number of by-products are produced. The exceptional grade of needle coke is a hard and compact mass generated by a single-direction carbon needle structure. This coke is highly crystalline and has the qualities for graphite electrode production. Steel is the most widely utilized material in a variety of sectors around the world due to its adaptability. Needle coke is an important component of the steel recycling process, which drives up needle coke demand in the market.

• Data Bridge Market Research analyses that the needle coke market was valued at USD 4.03 billion in 2021 and is expected to reach USD 7.19 billion by 2029, registering a CAGR of 7.50% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Global Needle Coke Market Definition

Needle coke is the principal raw material used in the steel and aluminium industries to make graphite electrodes from arc furnaces. It is a unique sort of coke with outstanding structural qualities, high electrical resistance, high-temperature resistance, thermal expansion coefficient (CTE) and oxidizability. In manufacturing graphite electrodes, needle coke accounts for more than 40% of the raw material expenses.

Report Scope and Market Segmentation

Needle Coke Market Dynamics

This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Rise in the demand for lithium ion batteries

The rise in demand for lithium-ion batteries is being fueled by the increased use of various autos such as electric and hybrid vehicles and the electrical and electronics industries. Because needle coke is one of the major components needed in the construction of lithium-ion batteries, an increase in demand for lithium-ion batteries will fuel growth rate of needle coke market.

• Growing demand in steel recycling market

Another element driving the future growth of the worldwide needle coke market is rising steel recycling demand. Because needle coke is such a vital component of the steel industry, it is expected to grow steadily. The market is expected to be driven by rising demand for petroleum-based coke in order to create energy in the future.    

Furthermore, increasing level of disposable income and swift urbanization will drive market value growth. Other significant factors influencing the market’s growth rate include the increase in the growth of steel industry and growing awareness among consumers to reduce carbon emissions.

Opportunities

• Rise in technological advancement

The surging technological advancement will boost new market opportunities for the market’s growth rate. Along with this, growing number of research and development activities will cushion the market’s growth rate.

Moreover, rise in strategic collaborations and emerging new markets will act as market drivers and further boost beneficial opportunities for the market’s growth rate.

Restraints/ Challenges Global Needle Coke Market

On the other hand, the fluctuating pieces of raw materials will obstruct the market’s growth rate. Also, environmental regulations and the dearth of awareness will hinder the needle coke market growth rate. The negative impact of COVID-19 outbreak on supply chain will act as market restraint and further challenge the market growth rate.   

This needle coke market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the needle coke market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Needle Coke Market

Since the COVID-19 viral outbreak in December 2019, the disease has spread to nearly every country on the planet, prompting the World Health Organization to declare it a public health emergency. 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.

Recent Development

• In February 2020, The Iranian Mines and Mining Industries Development and Renovation (IMIDRO) and the National Iranian Oil Refining and Distribution Company (NIORDC) struck an agreement to produce sponge and needle coke in the two refineries (Bandar Abbas and Imam Khomeini). Iran is planned to manufacture 700,000 tons of sponge and needle coke per year from these two petroleum coke producing complexes (620,000 tons of needle coke in Bandar Abbas Refinery). The completion of these two projects is projected to take three years.

Global Needle Coke Market Scope

The needle coke market is segmented on the basis of type, grade and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Petroleum Derived
• Coal-Tar Pitch Derived

Based on type, the needle coke market is segmented into petroleum derived and coal-tar pitch derived.

Grade

• Intermediate
• Premium
• Super Premium

On the basis of grade, the needle coke market is segmented into intermediate, premium, and super premium.

Application

• Graphite Electrode
• Special Carbon Material
• Lithium Ion Battery
• Other Applications

The needle coke market is also segmented on the basis of application into graphite electrode, special carbon material, lithium Ion battery, and other applications.

Needle Coke Market Regional Analysis/Insights

The needle coke market is analysed and market size insights and trends are provided by country, type, grade and application as referenced above.

The countries covered in the needle coke market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the needle coke market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the increasing end-user industries for steel production in this region. 

Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period of 2022 to 2029 due to the growing number of government initiatives to support domestic manufacturing in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Needle Coke Market Share Analysis

The needle coke market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to needle coke market.

Some of the major players operating in the needle coke market are:

• Phillips 66 Company (US)
• Mitsubishi Chemical Corporation. (Japan)
• GrafTech International (US)
• Sumitomo Chemical Co., Ltd (Japan)
• Indian Oil Corporation Ltd (India)
• China National Petroleum Corporation (China)
• Asbury Carbons (US)
• Baosteel Group Hu ICP (China)
• Sojitz JECT Corporation (Japan)
• Graphite india Limited (India)
• Eastman Chemical Company (US)
• Royal Dutch Shell Plc (UK)
• Eni S.p.A. (Italy)
• Shanghai Petrochemical (China)
• Kothari Petrochemicals (India)
• NIPPON STEEL Chemical & Material Co., Ltd. (Japan)
• GrafTech International (US)
• ENEOS Holdings, Inc. (Japan)
• HEG Limited (India)
• Mott (US)     

Research Methodology : Global Needle Coke Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The stage includes the obtainment of market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis.

To know more about the research methodology, drop in an inquiry to speak to our industry experts 

https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-needle-coke-market

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