Needle Coke Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Product Type (Petroleum Based v/s Coal Based), By Product Grade (Intermediate, Premium, Super Premium), By Application (Graphite Electrodes, Lithium-Ion Batteries, Specialty Carbon, Rubber Compounds, Others), By Company, By Region
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationNeedle Coke Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Product Type (Petroleum Based v/s Coal Based), By Product Grade (Intermediate, Premium, Super Premium), By Application (Graphite Electrodes, Lithium-Ion Batteries, Specialty Carbon, Rubber Compounds, Others), By Company, By Region
The global needle coke market is expected to witness significant growth in the forecast period i.e. 2023-2027. Needle coke is a specialty grade carbon final & raw material extracted from the ethylene tar pitch, low-Sulphur vacuum residues, coal tar pitch, petroleum fluidizing catalytic cracking (FCC), and refined solvent coal. Needle coke possesses exceptional strength, high-temperature resistance, ionizability, bulk density, superior electric conductivity, low coefficient of thermal expansion, and bulk density. All these characteristic helps them to increase the demand for needle coke worldwide. According to World Steel Association AISBL, in 2021, the global average production of crude steel worldwide reached 1,953,304 thousand tons per year. The needle coke produces graphite electrodes for the steel industry to melt steel scrap or scrap substitute. Thus, as the demand for crude steel increases, the need for needle coke will rise in the projected year.
Ongoing research and development by the different firms and instruction to find better or innovative products influence the growth. Due to its growing demand in electronics, steel, construction, and others, it impacts the development of the needle coke industry. The effort by marketers and government policies is influencing the demand. Thus, we can expect a rise in growth and demand in the market share of Global Needle Coke market in 2027.
Rising Demand for Power Consumption Worldwide is Driving the Growth
Needle coke is the best material used to produce synthetic graphite that provides suitable components for manufacturing the highest quality of graphite (99%) through the graphitization process.
According to Statista, in 2021, the global lithium-ion battery market was valued at 40.5 billion USD and is projected to reach almost 92 billion USD in 2026
Needle coke is used to manufacture semiconductors, used mainly in each electronic device to create a circuit. Pitch coke is the raw material used for building production equipment for semiconductors or solar array panels. According to Statista, in 2021, revenue from the global semiconductor industry was valued at 595 billion USD and projected to increase by almost 676 billion USD in the forecast period of 2022. Thus, a rise in the demand of the semiconductor market will influence the market growth of the needle coke market.
The government is now taking various initiatives to lower the use of petroleum for that. They are taking multiple industries to switch toward electric vehicles
Fluctuation in the Prices is Hindering the Growth
Needle coke is extracted from two sources, petroleum and coke based. Thus, fluctuation in the price of these products in the global market directly influences the cost of needle coke. Apart from these, health and environmental hazard are significant factors caused by the ashes of the product, but proper precaution can sideline defects.
Continuous R&D For Better Product is Driving Growth
The development of new or innovative existing products is the primary strategy used by firms for long-term growth. In the needle coke market, key players are investing in R&D for developing needle coke from low-value heavier hydrocarbon streams without undergoing any feed pre-treatment methods. Furthermore, various activities to reduce the price propelled the market.
Market Segmentation
The global needle coke market is segmented
Market Players
The Mitsubishi Chemical Holding Corporation, Indian Oil Corporation, Phillips 66, Sumitomo Chemical Company, JXTG Nippon Oil & Energy Corp, Asbury Carbon Inc, Graphite India Ltd., HEG Limited, C-Chem Co. LTD, Petroleum Coke Industries Company K.S.C. are the major market player in Global Needle Coke Market.
|
Attribute |
Details |
|
Base Year |
2021 |
|
Historic Data |
2017 – 2020 |
|
Estimated
Year |
2022 |
|
Forecast
Period |
2023 – 2027 |
|
Quantitative
Units |
Revenue
in USD Million, and CAGR for 2017-2021 and 2022-2027 |
|
Report
coverage |
Revenue
forecast, company share, competitive landscape, growth factors, and trends |
|
Segments
covered |
·
Product Type ·
Product Grade ·
Application |
|
Regional scope |
North
America; Asia Pacific; Europe & CIS; South America; Middle East &
Africa |
|
Country scope |
United
States; Canada; Mexico; China; India; Japan; Australia; South Korea; Germany;
France; United Kingdom; Spain; Italy; Belgium; Russia; Brazil; Argentina; Colombia;
South Africa; UAE; Saudi Arabia. |
|
Key companies
profiled |
Mitsubishi Chemical Holding Corporation, Indian Oil Corporation,
Phillips 66, Sumitomo Chemical Company, JXTG Nippon Oil & Energy Corp,
Asbury Carbon Inc, Graphite India Ltd., HEG Limited, C-Chem Co. LTD,
Petroleum Coke Industries Company K.S.C. |
|
Customization
scope |
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope. |
|
Pricing and
purchase options |
Avail
customized purchase options to meet your exact research needs. Explore purchase options |
|
Delivery
Format |
PDF and Excel through
Email (We can also provide the editable version of the report in PPT/Word
format on special request) |
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy