In-Depth Insights ,Opportunitie In Needle Coke Market With Market Footprint.

The needle coke market was valued at around US$ 2 Bn in 2017, and is expected to register a CAGR of 5.5%.Needle coke is a derivative of crude oil or coal tar. It is the primary material used for graphite electrodes in electric furnaces for steel production. There are two types of needle cokes namely coal-based and petroleum-based.

Around 66% of global steel is produced in basic oxygen blast furnaces (BOF) and the remaining 34% in electric arc furnaces (EAF). Though BOF currently is more widely used in the steel industry, EAF are expected to gain high traction in coming years, owing to factors such as less environmental impact, extreme high temperature operations, less facility space requirement, and higher production output with lower inventory.

Needle coke represents approximately 40%–60% of the input cost of graphite electrode production. Nonetheless, consolidation of the top needle coke producers in the world is expected to improve profitability by curbing high cost of operations.

On the basis of type, petroleum-based segment currently accounts for highest revenue share contribution as compared to coal-based segment, and is expected to register a CAGR of over 5% between 2017 and 2026. This is primarily attributed due to certain factors such as declining crude oil prices globally.

Its properties including low electrical resistance, strong shock resistance, and good anti-oxidation ability makes it ideal for its use in ultra-high graphite electrodes, as nuclear reactor deceleration materials, and LIB anode materials. The aforementioned factors are expected to drive the growth of the market during the forecast period.

The market in Asia Pacific accounted for highest revenue share in the global needle coke market in 2016, and is expected to register a CAGR of over 5% between 2017 and 2026, owing to the presence of large number of raw material suppliers in the region.

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The report offers in-depth insights, revenue details, and other vital information regarding the global needle coke market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026.

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