The growing demand for steel and iron industry, especially from the Asia Pacific region, is driving the market growth.
The surge in energy vehicles increases the consumption of needle coke in electric vehicles. The rise in demand for steel recycling is assumed to augment market growth in the coming years. Volatility in the global natural gas and crude oil due to the demand and supply fluctuations will limit market growth. There is also a growing demand for the needle coke product from various end-use industries like construction and oil and gas. It acts as a raw material in steel recycling and application in engineering, automobile, and aerospace.
The global Needle Coke Market is forecasted to be worth USD 5.88 Billion by 2027, according to a current analysis by Emergen Research. The demand for needle coke is growing due to the production of graphite electrodes for the steel industry. These electrodes are also used to scrap substitute and melt steel scrap. It is also employed in the manufacture of synthetic graphite other applications, including anode material for lithium-ion batteries that are used in an electric vehicle.
The Global Needle Coke Market report offers a detailed analysis of the global market size, regional and country-level analysis of the market, segment growth, competitive landscape, sales analysis, industrial chain analysis, opportunities, recent developments, regulatory framework, market growth analysis, and strategic market initiatives.
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Key Market Dynamics: The global Needle Coke market research report details on the ongoing market trends, development outlines, and several research methodologies. It illustrates the key factors that directly manipulate the market, for instance, production strategies, development platforms, and product portfolio. According to our researchers, even minor changes within the product profiles could result in huge disruptions to the above-mentioned factors. Each of these factors has been elaborately discussed in the initial segment of the study.
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Key Highlights From The Report
- Coal-based needle coke has an inherent advantage over the petroleum coke as it is more aromatic and has fewer side effects attached to the aromatic rings. If treated properly, the needle coke from coal-based feedstock could be superior to that from the petroleum-based feedstock.
- The super-premium grade exhibits a low puffin rate, low coefficient of thermal expansion (CTE), which ensures higher productivity by 5% in the recycling operations of steel. The super-premium grade is also the finest grade used in the production of high-quality ultra-high power (UHP) graphite electrodes.
- Graphite electrodes find application in the ladle furnace (LF) and electric arc furnace (EAF) for the production of silicon metal, steel, melting processes, and ferroalloy production, among others.
- The market in the Asia Pacific region dominated the needle coke market share in the year 2019 and is anticipated to have a CAGR of 7.5% during the forecast period. The high market share in the region is due to the growth of the manufacturing sector and growing infrastructure.
- Key participants include Mitsubishi Chemical Corporation, Phillips 66, Graftech International, Indian Oil Corporation Limited, Sumitomo Chemical Company, Sojitz Ject Corporation, China National Petroleum Corporation, Baosteel Group, Asbury Carbon Inc., and Graphite India Limited, among others.
The findings of the report explain various aspects of the market, such as market status, developmental prospects, key regional segments, renowned market players, product offerings, end-use industries.
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The Needle Coke market intelligence report talks about the market size, share, value, and production cost analysis over the forecast period 2019-2027.
- Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Coal-Based Needle Coke
- Petroleum-Based Needle Coke
- Grade Outlook (Revenue, USD Billion; 2017-2027)
- Super-Premium Grade
- Premium Grade
- Intermediate-Premium Grade
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Electrodes
- Silicon Metal & Ferroalloys
- Carbon Black
- Rubber Compounds
- Others
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