Press Release

Needle Coke Market to Be Dominated by Petroleum-Based Needle Coke Segment Through 2027

Growing demand for power consumption and increased investment in Research & Development to drive the demand for the global needle coke market in the forecast period, 2023-2027.

According to TechSci Research report, Needle Coke Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, The global needle coke market is anticipated to grow at an impressive rate in the forecast period, 2023-2027. The demand for the needle coke market is expected to rise as projected due to the Growing need for power consumption and research & Development. 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. Graphite is used in different sectors to make finished goods such as battery and semiconductor appliances. According to Statista, in 2021, revenue from the global semiconductor industry was valued at 595 billion USD and projected to increase by almost USD 676 billion in the forecast period of 2022. Thus, the demand for needle coke will be influenced by the rising demand for semiconductors. The effect of needle coke on the environment and humans is restraining the growth.

Worldwide, the government is taking various initiatives to lower the dependence on petroleum-based products. All these efforts create an environment that indirectly impacts the market's growth of needle coke. Additionally, increasing demand from the aluminum & steel industries, Aerospace & defense industries, automotive industries, and semiconductor industries are prompting the market's growth. Thus, the abovementioned factors will drive the Development, directly influencing the demand for needle coke worldwide.

Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on " Global Needle Coke Market "

The global needle coke market is segmented based on product type, product grade, and application.

Based on product type, the market is split into petroleum based and coal-based. The petroleum-based segment is expected to hold the largest market share in 2022. Petroleum-based needle coke has high-temperature conditions and is less harmful than its opponent to the environment, making this segment more demanded. Apart from these, demand from different industries for their product production is propelling more share of petroleum-based needle coke segment.

Based on product grade, the market is divided into an intermediate, premium, and super premium. As per estimates, the super-premium segment will experience the highest market share leaving its competitor during the forecast period. Due to its traits such as exceptional inherent quality and low Sulphur level.

Based on application, the market is divided into graphite electrodes, lithium-ion batteries, specialty carbon, rubber compound, and others. Graphite electrodes are expected to account for a significant market share over the next projected years. As the graphite electrode is used at a large scale in electric arc furnaces (EAF) and ladle furnaces (LF) to produce silicon, steel, and ferroalloy production, graphite electrodes dominate the market.

Major companies operating in global Needle Coke Market are:

  • 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.

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Asia-pacific is expected to dominate the global needle coke market in the projected years due to its trade policy, availability of resources, manufacturing expertise, low-cost workforce availability, and innovation capabilities. The needle coke is anticipated to increase due to the growing demand for power consumption and research & development. 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. Thus, the growth in the demand for lithium-ion batteries directly influences the demand for needle coke in the forecasted year.

Ongoing R&D and product improvement efforts, collaboration, merger, and acquisition are the various managerial activities impacting the market's growth. Increasing demand from the aluminum & steel industries, aerospace & defense industries, automotive industries, semiconductor industries, and fewer players in the market are market propelling factors. All the factors mentioned above are expected to impact market growth and create favorable conditions to push the global needle coke market growth till 2027.” Said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“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, has evaluated the future growth potential of global needle coke market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global needle coke market.”

 

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