The global needle coke market reached a value of US$ 3.76 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.35 Billion by 2027, exhibiting at a CAGR of 5.96% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Needle coke is a specialty grade carbon raw material derived from coal tar pitch, ethylene tar pitch, solvent refined coal, low-sulphur vacuum residues, or petroleum fluidized catalytic cracking (FCC) decant oil. It possesses high strength, electrical conductivity, real and bulk density, while having a low coefficient of thermal expansion (CTE) and heteroatom and ash content. It also exhibits excellent graphitizability on account of its strong parallel orientation of turbostratic layer structure and a particular physical shape of the grains.
Needle Coke Market Trends:
Needle coke is widely used as a carbonaceous filler in the production of graphite electrodes for ultra-high power electric arc furnaces (EAF) in the steel smelting industry. As these electrodes have low resistivity, high mechanical strength, and excellent thermal shock resistance and oxidation resistance, they are extensively utilized to melt scrap substitutes and maintain the temperature of molten steel. Moreover, needle coke finds applications in the manufacturing of synthetic graphite, which is used to make lithium-ion batteries for electric vehicles (EVs). This, in confluence with the escalating demand for EVs worldwide on account of the rising carbon emissions and increasing environmental concerns, is contributing to the market growth. Apart from this, needle coke is employed in the manufacturing of specialty carbon, which is gaining traction in the electronics industry as a viscosity control additive for electromagnetic shielding and a semi-conductive cable compound. In line with this, as specialty carbon has excellent tinting strength and dispersibility, it finds extensive usage in the construction industry. This, coupled with the thriving construction industry due to rapid urbanization and renovation of existing infrastructure, is anticipated to drive the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global needle coke market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, grade, application and end use industry.
Breakup by Type:
- Coal-tar Pitch Derived
- Petroleum Derived
Breakup by Grade:
- Super Premium
Breakup by Application:
- Graphite Electrodes
- Silicon Metal and Ferroalloys
- Lithium-ion Battery
- Carbon Black
- Rubber Compounds
Breakup by End Use Industry:
- Aluminum and Steel
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and Tokai Carbon Co. Ltd.
|Base Year of the Analysis
| Historical Period
||Type, Grade, Application, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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 and Tokai Carbon Co. Ltd.
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Key Questions Answered in This Report:
- How has the global needle coke market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global needle coke market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the grade?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global needle coke market and who are the key players?
- What is the degree of competition in the industry?