According to IMARC Group latest report titled “Needle Coke Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on needle coke market size. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global needle coke market size reached US$ 4.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.6 Billion by 2032, exhibiting a growth rate (CAGR) of 4.8% during 2024-2032.

Needle coke, a highly crystalline petroleum coke used in the production of electrodes for steel and aluminum industries, is distinguished by its needle-shaped structure. This unique physical form, resulting from its low thermal expansion coefficient and high electrical conductivity, makes it a critical component in the manufacturing of ultra-high power (UHP) graphite electrodes. Needle coke is produced through a multi-stage process involving the delayed coking of specific feedstocks, typically low sulfur, low metal content petroleum or coal tar pitches. This specialized coke possesses properties such as high purity, large particle size, and a well-organized structure, making it particularly suitable for high-end applications. The advantages of using needle coke include improved conductivity and physical strength in electrodes, leading to higher efficiency in electric arc furnaces. Additionally, its low coefficient of thermal expansion ensures minimal electrode breakage during high-temperature processes, making it an invaluable material in the metallurgical sector.

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Market Trends:

The global market is primarily driven by the escalating demand in the steel industry, especially for manufacturing UHP graphite electrodes for electric arc furnaces. Concurrently, the aluminum industry's ongoing needs for high-quality anodes are further contributing to market expansion. Additionally, advancements in the production technology of needle coke, aiming for higher purity and better quality, are enhancing its applicability in various industries. The burgeoning electric vehicle (EV) market is also playing a significant role, as needle coke is crucial for producing lithium-ion batteries, thus fueling the demand. Furthermore, the increasing investments in the renewable energy sector are necessitating more efficient energy storage solutions, where needle coke's role is increasingly vital. The growing steel recycling practices through electric arc furnaces, promoting sustainable production methods, are additionally propelling the demand for needle coke. Moreover, the shift towards ultra-high power (UHP) graphite electrodes for their efficiency and lower environmental impact is driving market growth. The development of aerospace and defense industries, requiring high-grade steel and aluminum, further underlines the need for high-quality needle coke. Additionally, a steady rise in infrastructure development globally, necessitating advanced steel production techniques, is also a significant market driver.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Asbury Carbons Inc.
• C-Chem CO. Ltd (Nippon Steel Corporation)
• ENEOS Holdings Inc.
• GrafTech International Ltd.
• Graphite India Limited
• HEG Limited
• Mitsubishi Chemical Holdings Corporation
• Mott Corporation
• Phillips 66 Company
• Sojitz Corporation
• Sumitomo Corporation
• Tokai Carbon Co. Ltd

Needle Coke Market Segmentation:

Our report has categorized the market based on region, type, grade, application and end use industry.

Breakup by Type:

• Coal-tar Pitch Derived
• Petroleum Derived

Breakup by Grade:

• Intermediate
• Premium
• Super Premium

Breakup by Application:

• Graphite Electrodes
• Silicon Metal and Ferroalloys
• Lithium-ion Battery
• Carbon Black
• Rubber Compounds
• Others

 Breakup by End Use Industry:

• Aluminum and Steel
• Automotive
• Semiconductor
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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