USD 4.03 Billion
Global Needle Coke Market Size, Share, Growth Analysis, By Grade (Super-Premium, Intermediate Grade), By Application (Electrode, Carbon Black), By Region -Industry Forecast 2025-2032
Report ID:
SQMIG15E2558 |
Region:
Global |
Published Date: December, 2024
Pages:
193
|Tables:
65
|Figures:
66
Needle Coke Market Insights
Global Needle Coke Market size was valued at USD 4.03 Billion in 2022 and is poised to grow from USD 4.5 Billion in 2023 to USD 9.93 Billion by 2031, growing at a CAGR of 10.4% in the forecast period (2024-2031).
Rapidly surging demand for steel production around the world and the need for graphite electrodes in electric arc furnaces (EAF) are expected to bolster the demand for needle coke over the coming years. Increasing use of needle coke for production of electrodes used in batteries is also expected to present new opportunities for needle coke providers going forward. High investments in urbanization and industrialization are also expected to favor needle coke market outlook in the future. Surging demand for high-quality steel and carbon products from industry verticals such as automotive, aerospace, and construction is also expected to promote revenue generation in the long run. Moreover, advancements in needle coke production technologies are also estimated to create an opportune setting for needle coke companies through 2031. On the contrary, volatility in raw material pricing, high initial costs for production, and competition from alternative products are some key constraints that are anticipated to trouble needle coke manufacturers across the study period and beyond.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Electrode
Fastest Growth
Carbon Black
Growth Rate
10.4% CAGR
Global Needle Coke Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Needle Coke Market Segmental Analysis
Global needle coke market is segmented based on application, grade, and region. Based on grade, the market is segmented into super-premium, premium-grade, and intermediate grade. Based on the application, the market is segmented into electrode, silicon metals & ferroalloys, carbon black, rubber compounds, and others. Based on the Region, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
Analysis by Grade
Super-premium grade needle coke is expected to account for a dominant global needle coke market share over the coming years. Robust use of this grade of needle coke in the production of steel and carbon-based products is allowing this segment to hold sway over others. The low coefficient of thermal expansion (CTE) rate, a low puffing rate, and a big particle size are some of the key characteristics of super-premium needle coke grade, which allow it to maintain its dominance and use in key applications. The low sulfur level of super-premium grade needle coke is also a key factor allowing this segment to maintain its dominance going forward.
Intermediate grade of needle coke is expected to account for the second-largest share of the global needle coke industry going forward. Use of intermediate grade of needle coke is expected to be high in applications where quality is not a concern as this grade is not as pure as super-premium grade. Use of intermediate grade of needle coke can help companies keep their operational costs low but also provide them affordable access to needle coke for their products. This segment is expected to experience good growth opportunities from companies operating in developing regions with limited spending potential.
Analysis by Application
Electrode is expected to account for a major chunk of the global needle coke market share over the coming years. Rapidly surging demand for electrodes across multiple industry verticals and applications is slated to create a highly opportune setting for needle coke providers in the long run. Needle coke is an essential raw material used in the manufacturing of graphite electrodes thereby further cementing the dominance of this segment. High-temperature resistance, high electrical resistance, and optimal structural characteristics are key factors that are estimated to bolster the demand for needle coke in this application segment going forward.
Meanwhile, the demand for needle coke for carbon black applications is expected to rise at an impressive pace over the coming years. Needle coke is a highly essential raw material required for the production of carbon black, which makes this a highly opportune segment for needle coke providers. Needle coke is used to produce granular graphite and graphite blocks, both of which are highly essential for carbon black manufacturing. Rising application scope of carbon black across multiple industry verticals is also estimated to create new opportunities for needle coke providers in the long run.
Global Needle Coke Market By Application
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Needle Coke Market Regional Insights
The Asia-Pacific region is estimated to account for a prominent share of the global needle coke market. Surging steel production and growing use of multiple carbon black-based products are projected to be key factors aiding the dominance of this region. India, China, and Japan are slated to be the top countries for needle coke suppliers in the Asia Pacific owing to rapid urbanization and industrialization. Surging production of electric vehicles and growing demand for battery manufacturing are also expected to offer new business scope for needle coke providers operating in this region across the study period and beyond.
On the other hand, the demand for needle coke in the North American region is slated to increase at a notable pace going forward. High use of needle coke in steel and aluminum production facilities and advancements in needle coke production technologies are expected to create new opportunities for market players in this region. The United States is estimated to be the most opportune market in North America owing to the presence of key industries followed by Canada. Increasing electrification of multiple industry verticals and growing demand for lithium-ion batteries are also slated to boost the demand for needle coke in the North American region.
Global Needle Coke Market By Region
- Largest
- Fastest
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Needle Coke Market Dynamics
Drivers
Growing Demand for Graphite Electrodes and Anodes
- Rapidly increasing demand for lithium-ion and other types of batteries owing to rising electrification of multiple industry verticals are expected to uplift the sales of needle coke in the future. Needle coke is a crucial raw material used in the production of graphite anodes and electrodes used in these batteries.
High Use of Specialty Carbon Products
- Carbon fibers and carbon nanotubes are expected to witness robust hike in demand around the world as their adoption in automotive and aerospace industry verticals rises. Needle coke is an essential component required to produce these specialty carbon products that are high in demand.
Restraints
Fluctuations in Raw Material Pricing
- Needle coke is usually produced from petroleum coke and the volatile prices of petroleum-based products are expected to slow down the overall needle coke market growth potential. These fluctuations can reduce the profits of needle coke suppliers and cause irregularities in supply chains across the study period and beyond.
High Initial Investments for Production
- Production of needle coke requires expansive facilities with advanced equipment and personnel. The high costs of setting up these facilities are expected to deter and discourage new companies from entering the market and even result in high costs for needle coke in the long run. All of these factors are expected to hurt the needle coke demand outlook going forward.
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Needle Coke Market Competitive Landscape
Launching new needle coke production and processing plants is projected to be the prime focus of all needle coke providers going forward. Incorporation of sustainable practices and technologies is also expected to present new opportunities for needle coke companies in the long run. Targeting industries where demand for carbon-based products is high could boost revenue generation for needle coke suppliers going forward.
Top Player’s Company Profiles
- Phillips 66
- Asbury Carbon Inc.
- Seadrift Coke L.P.
- Sumitomo Chemical Company
- Mitsubishi Chemical Corp.
- JXTG Nippon Oil & Energy Corp.
- Indian Oil Corporation Limited
- Graftech International
- Sojitz Ject Corp.
- C-Chem Co., Ltd.
- Baosteel Group
Recent Development
- In May 2023, Imam Khomeini Shazand Oil Refinery announced that it had reached 85% completion for its pilot project to produce needle coke at the facility. The refinery signed a contract with RIPI, a research and development arm of the Oil Ministry around 2 years prior to improve self-sufficiency for needle coke.
Needle Coke Key Market Trends
- Emphasis on Rising Electric Vehicle Sales: Needle coke companies can focus on collaborating with battery companies to take advantage of the rapidly increasing popularity and sales of electric vehicles. Growing demand for lithium-ion batteries and the use of needle coke for anodes and cathodes of the same are expected to present new opportunities for needle coke suppliers in the future.
- Eco-friendly Needle Coke Production: Needle coke providers can focus on incorporating sustainability in their production process to reduce the carbon footprint of their operations. Focusing on this needle coke market trend is expected to be highly important for all companies as governments and regulatory bodies impose stringent mandates to reduce emissions and greenhouse gases.
Needle Coke Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing demand for steel production and increasing use of carbon-based products around the world are forecasted to bolster the demand for needle coke over the coming years. On the contrary, high initial investments for production facilities and fluctuations in raw material pricing are slated to impede global needle coke market growth potential in the future. Asia Pacific region is estimated to bring in the most revenue for needle coke suppliers owing to rapid urbanization and industrialization in countries such as China and India. Opting for eco-friendly needle coke production methods and targeting electric vehicles can offer attractive growth opportunities for needle coke companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.03 Billion |
| Market size value in 2031 | USD 9.93 Billion |
| Growth Rate | 10.4% |
| Base year | 2024 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Needle Coke Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Needle Coke Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Needle Coke Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Needle Coke Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Needle Coke Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Needle Coke Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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