Needle Coke Market - Current Competitive Analysis 2024 | Phillips 66, Mitsubishi Chemical Corporation, Indian Oil Corporation Ltd, JXTG Holdings, Seadrift Coke LP, Bao-steel Group
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Low volatility matter content suits Needle Coke for a better fuel to promote growth in the Needle Coke Market
Growing demand for product in steel industry, growing demand of Lithium Ion batteries and development of efficient and advance technology are the major factors driving the growth of the needle coke market. For instance, Indian Oil research & development has developed a technology for production of Needle Coke from low value heavier hydrocarbon streams without any major feed pre-treatment. In addition, superior properties such as low coefficient of thermal expansion, puffing rate and large particle size are fuelling the growth of the market. However, insecurity in the global crude oil and natural gas markets owing to demand & supply fluctuations is a major restraint for needle coke market growth. Furthermore, growing refinery parameters owing to increasing needle coke prices is supposed to hike production capabilities particularly in emerging economies such as China, India, and Brazil this in turn is anticipated to create several growth opportunities in the needle coke market.
Asia Pacific region to contribute to growth in the global Needle Coke Market
Asia Pacific dominated the global needle coke market. China is anticipated to be the largest consumer market for needle coke and is anticipated to witness significant growth in increasing steel and aluminum industries .Presence of large number of graphite electrode manufactures have made European regions to increase the demand for needle coke. Majority of the needle coke in Europe is imported from Japan and China. The world’s largest manufacturer of needle coke is Conoco Phillips (Phillips 66).Moreover, North America is estimated to have fastest growth due to technological advancements in the region and average demand over the foreseeable.
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Showa Denko completed the acquisition of SGL GE Holding GmbH
In Oct 2017- Showa Denko announced acquisition of all shares in SGL GE Holding GmbH (SGL GE), a graphite electrode production company, and made it a wholly owned subsidiary of SDK. The acquired company’s name was changed to “SHOWA DENKO CARBON Holding GmbH”.Furthermore, with this acquisition SDK will strive to generate synergy as early as possible, pursue more cost competitiveness, enhance business durability, and achieve further growth in a highly competitive market.
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