Global Needle Coke Market accounted for US$ 3.75 billion in 2020 and is estimated to be US$ 7.13 billion by 2030 and is anticipated to register a CAGR of 6.7%. Needle coke is a type of pet coke valued for its crystalline shape, which makes it a good material for electrode production. Needle coke is often created using low-sulfur FCC slurry in a specialized coker. The high aromatics concentration of the FCC slurry is responsible for the needle coke characteristics. Low-sulfur FCC slurry is commonly delivered to a third-party needle coker, while some refineries have their own on-site needle coker.
Analyst View:
A significant factor driving the worldwide needle coke market is the increased demand for graphite electrodes and lithium-ion batteries, both of which need needle coke in their manufacturing process. Furthermore, the advancement of electric vehicles is driving up product demand, propelling the target market ahead. Additionally, needle coke’s unique characteristics, such as low electric resistance, low coefficient of thermal expansion, and minimal breakage, are expected to boost demand during the forecast period. However, the global needle coke market’s expansion is being stifled by growing environmental concerns regarding needle coke production. Furthermore, a reduction in graphite electrode capacity could hinder the target market in the near future.
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Key Highlights of Needle Coke Market:
- In March 2021, A needle-coke production technology developed by Gazprom Neft has been included in state patent agency Rospatent’s annual ratings of Russia’s top-10 most important inventions. This solution, developed by Gazprom Neft specialists, is making it possible for production of needle coke — a product used in producing lithium-ion storage batteries, as well as graphite electrodes used in the steel-making industry — to be handled in Russia for the first time. Needle-coke production is expected start, initially, at Gazprom Neft’s Omsk Refinery, where modernisation of the plant’s delayed coking unit was completed in 2021.
Key Market Insights from the report:
Global Needle Coke Market accounted for US$ 3.75 billion in 2020 and is estimated to be US$ 7.13 billion by 2030 and is anticipated to register a CAGR of 6.7%. Global Needle Coke Market is segmented into product type, product grade, application and region.
By Product Type:
Petroleum Based and Coal Based.
By Product Grade:
Intermediate, Premium, and Super Premium.
By Application:
Graphite Electrodes, Lithium Ion Batteries, and Specialty Carbon.
By Region:
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Needle Coke Market:
Some of the major players operating in the global industrial Needle Coke include Phillips 66, Mitsubishi Chemical Corporation, JXTG Holdings, Inc., Indian Oil Corporation Ltd., Baotailong New Material Co., Ltd., Royal Dutch Shell PLC, Bao-steel Group, C-Chem Co. Ltd., Reliance Industries Ltd., Essar Oil Ltd, and FangDa Carbon New Material Co. Ltd.
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Global Needle Coke Market, By Product Type:
- Petroleum Based
- Coal Based
Global Needle Coke Market, By Product Grade:
- Intermediate
- Premium
- Super Premium
Global Needle Coke Market, By Application:
- Graphite Electrodes
- Lithium Ion Batteries
- Specialty Carbon
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
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Market Purview
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Estimation
- Top-Down Approach
- Bottom-Up Approach
- Market Breakdown and Data Triangulation
- Research Assumptions
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
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