Needle Coke Market is to Grow at a CAGR of 7.50% By 2029 With Phillips 66 Company (US), Mitsubishi Chemical Corporation. (Japan), GrafTech International (US)

29 Oct.,2022

 

450mm RP Graphite Electrode

Latest Report Available at  Data Bridge Market Research, Needle Coke Market provides pin-point analysis for changing competitive dynamics and a forward-looking perspective on different factors driving or restraining industry growth Key players in the global Needle Coke 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.

Needle cokes are generally used as a key material for graphite electrodes in electric furnace. Coal-based needle coke is produced from coal tarn which appears during coke production. 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.

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Leading Key Players Operating in the Needle Coke Market Includes:

  • 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)

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.

Key Market Segments:

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.

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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.

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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.

Some Points from Table of Content

Part 01: Executive Summary

Part 02: Scope of The Report

Part 03: Needle Coke Technology Market Landscape

Part 04: Needle Coke Technology Market Sizing

Part 05: Needle Coke Technology Market Segmentation By Product

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

FULL TOC of This Report [email protected]https://www.databridgemarketresearch.com/toc/?dbmr=global-needle-coke-market

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