The global needle coke market is projected to expand at a CAGR of 3.7% and reach a valuation of $5.86 billion by the end of 2032 from $4.07 billion in 2022.
The United States has 91.4% of the North American market share, which is the largest market in the world, mainly due to technological advances and high consumption of needle coke by the steel industry and the aluminum.
Needle cocaine is often referred to as acicular cocaine. It is a highly crystalline petroleum coke used in the manufacture of needle coke electrodes for the aluminum and steel industries. Needle coke electrodes are valuable as they need to be replaced on a regular basis.
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Market participants are increasingly investing in R&D to create needle coke from heavier, lower-value hydrocarbon streams that do not require any sizeable feed pretreatment. Needle coke produced from heavier low-value hydrocarbon streams can withstand temperatures up to 2800 degrees Celsius.
Also, due to high product prices, companies are increasing their refining margins. The tied sourcing of raw materials has given fully integrated market companies such as Sumitomo Chemical Company, Phillips 66 and Mitsubishi Chemical Corp. a competitive edge, especially during price changes.
- ICC, International Ltd. said in November 2021 that it had finalized the previously announced acquisition agreement with Seadrift Coke LP, the world’s second largest producer of petroleum coke, and C/G Electrodes LLC (C/G), a company headquartered in the United States manufacturer of graphite electrodes.
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Main companies profiled:
- Philip 66
- JXTG Holdings Inc.
- Seadrift Coke LP
- C-Chem Co., LTD
- Petroleum Coke Industries Company KSC
- Baotailong New Material Co., Ltd.
- Bao-steel group
- Sinopec Shanghai Petrochemical Company Limited
- Shanxi Hongte Coal Chemical Co Ltd
- Sinosteel Anshan Research Institute of Thermo-Energy Co.
Key segments covered by needle coke industry research
- Needle Coke Market by Type:
- Needle Coke derived from petroleum
- Needle coke derived from coal tar
- Needle Coke Market by Grade:
- Premium Needle Coke Intermediate
- Base Premium Needle Coca Cola
- Super Premium Needle Coca Cola
- Needle Coke Market By Application:
- Graphite electrodes
- Lithium ion batteries
- Other applications
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Questionnaire Answers in Needle Coke Market Report Include:
- How has the Needle Coke market grown?
- What is the present and future prospect of global Needle Coke based on the region?
- What are the challenges and opportunities for Needle Coke?
- Why is Needle Coke consumption higher in the region?
- In which year is the segment expected to surpass the segment?
What sets the Fact.MR report apart from others?
- Fact.MR follows a six-point mechanism known as EVOLVE (Evaluate. Visualize. Overcome. Leverage. Verify. Eradicate.) . The report has been specially created to assess the impact of COVID-19 on the Needle Coke market. This mechanism focuses on almost all factors in a definite way to provide the best research report for the market stakeholders.
- Evaluate: A Fact.MR report evaluates every little aspect that can prove to be a growth generator for the Needle Coke market thus making it different and special from other reports.
- Visualize: Authors involved in the research activities have visualized the post-COVID-19 era so that key market stakeholders have an overview and help them take certain steps to ensure continued growth during the forecast period.
- Overcoming: The report examines the points that can prove to be an Achilles heel for the Needle Coke market and helps in making strategies to overcome the obstacles that can hinder the growth of the Needle Coke market.
- Leverage: The Needle Coke market can take advantage of certain aspects that can prove beneficial in increasing the growth rate. Fact.MR covers all points that key stakeholders can leverage.
- Verification: Research is done systematically to ensure validation of all aspects covered in the report. All points are double checked and verified thoroughly to avoid defects and false information.
- Eradicate: Last but not the least, this aspect helps the key stakeholders in eradicating all the hurdles standing between the growth rate and the Needle Coke market.
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