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Needle Coke Market Growth: Expected to Reach US$ 7,102.69 Million by 2030 with a 6.5% CAGR

08-13-2024 09:36 AM CET | Energy & Environment

Press release from: MAXIMIZE MARKET RESEARCH PVT. LTD.

Needle Coke Market

Needle Coke Market

๐๐ž๐ž๐๐ฅ๐ž ๐‚๐จ๐ค๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฏ๐ž๐ซ๐ฏ๐ข๐ž๐ฐ:

The global needle coke market is poised for significant growth, with projections estimating a rise to approximately USD 7.1 billion by 2030, driven by a compound annual growth rate (CAGR) of 6.5% over the forecast period. Needle coke, a specialized form of carbon material characterized by its needle-like shape, plays a crucial role in the production of graphite electrodes used in the steel industry. This high-quality carbon material is distinguished by its hardness and dense structure, making it indispensable for manufacturing electrodes that are essential for electric arc furnaces in steel production.

๐„๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ž ๐š๐๐๐ข๐ญ๐ข๐จ๐ง๐š๐ฅ ๐๐ž๐ญ๐š๐ข๐ฅ๐ฌ ๐›๐ฒ ๐œ๐ฅ๐ข๐œ๐ค๐ข๐ง๐  ๐ญ๐ก๐ž ๐ฅ๐ข๐ง๐ค ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐ž๐: https://www.maximizemarketresearch.com/request-sample/11668/

๐๐ž๐ž๐๐ฅ๐ž ๐‚๐จ๐ค๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ƒ๐ฒ๐ง๐š๐ฆ๐ข๐œ๐ฌ ๐š๐ง๐ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ƒ๐ซ๐ข๐ฏ๐ž๐ซ๐ฌ

The burgeoning demand for needle coke is closely linked to the increasing use of lithium-ion batteries, particularly in the burgeoning electric vehicle (EV) market. In 2022, the demand for needle coke in lithium battery anodes was around 80,000 metric tons. This figure is expected to exceed 250,000 metric tons by 2029, underscoring the material's growing importance in energy storage solutions. Additionally, the expanding steel recycling industry is anticipated to further bolster needle coke consumption, as the material is essential for producing high-quality graphite electrodes used in the recycling process.

The global demand for petroleum-based needle coke is projected to drive market growth, despite facing challenges such as fluctuations in global crude oil and natural gas markets. These fluctuations, driven by supply and demand imbalances, pose a significant challenge to the needle coke market. Moreover, limited production capacities for delayed coking and technological constraints are expected to impact the market negatively in the coming years.

๐ˆ๐ฆ๐ฉ๐š๐œ๐ญ ๐จ๐Ÿ ๐‚๐Ž๐•๐ˆ๐ƒ-19 ๐จ๐ง ๐ญ๐ก๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ

The COVID-19 pandemic has had varied impacts on different regions and market segments. Lockdown measures, which were implemented differently across countries, have affected market dynamics in distinct ways. The report includes a detailed analysis of these impacts, helping stakeholders understand both the short-term and long-term effects of the pandemic on the needle coke market. This insight is crucial for developing strategies to navigate the ongoing challenges and capitalize on emerging opportunities.

๐๐ž๐ž๐๐ฅ๐ž ๐‚๐จ๐ค๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง:

๐›๐ฒ ๐†๐ซ๐š๐๐ž

Base Premium
Intermediate Premium
Super Premium

The super-premium grade of needle coke, known for its low coefficient of thermal expansion (CTE), is preferred for producing high-grade graphite electrodes. This grade's unique properties make it suitable for demanding applications requiring high precision and performance.

๐›๐ฒ ๐“๐ฒ๐ฉ๐ž

Petroleum Derived
Coal Tar Pitch Derived

Needle coke is categorized into coal tar-based and petroleum-based types. The petroleum-derived segment dominated the market, accounting for over 60% of the share in 2023. Coal tar-based needle coke, which is a by-product of the low ash metallurgical coke cooking process, is also significant but less dominant.

๐›๐ฒ ๐€๐ฉ๐ฉ๐ฅ๐ข๐œ๐š๐ญ๐ข๐จ๐ง

Steel Industry
Aluminium Industry
Nuclear Power

The graphite electrode segment held the largest share of the needle coke market in 2023. Graphite electrodes are critical for electric arc furnaces, which are widely used in steel production and recycling.

๐‚๐ฅ๐ข๐œ๐ค ๐‡๐ž๐ซ๐ž ๐Ÿ๐จ๐ซ ๐˜๐จ๐ฎ๐ซ ๐…๐ซ๐ž๐ž ๐’๐š๐ฆ๐ฉ๐ฅ๐ž + ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐†๐ซ๐š๐ฉ๐ก๐ฌ: https://www.maximizemarketresearch.com/request-sample/11668/

๐๐ž๐ž๐๐ฅ๐ž ๐‚๐จ๐ค๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ

The Asia Pacific region is expected to experience substantial growth due to its burgeoning steel and aluminum manufacturing sectors. Conversely, the European market is anticipated to grow at a significant pace, driven by increasing industrial activities and technological advancements.

๐‚๐จ๐ฆ๐ฉ๐ž๐ญ๐ข๐ญ๐ข๐ฏ๐ž ๐‹๐š๐ง๐๐ฌ๐œ๐š๐ฉ๐ž

Key players in the needle coke market include Phillips 66, Mitsubishi Chemical Corporation, JXTG Holdings, Inc., Baotailong New Material Co., Ltd., Indian Oil Corporation Ltd., Bao-steel Group, C-Chem Co., Ltd., Seadrift Coke LP, Sinopec Shanghai Petrochemical Company Limited, Shanxi Hongte Coal Chemical Co Ltd., Sinosteel Anshan Research Institute of Thermo-Energy Co., Ltd., PetroChina International Jinzhou Petrochemical Co., Ltd., and Shijiazhuang Deli Chemical Co. These companies are focusing on research and development to enhance product offerings and improve operational efficiencies. Strategic collaborations and partnerships are also prevalent, aiming to leverage each other's strengths and expand market reach.

๐๐ž๐ž๐๐ฅ๐ž ๐‚๐จ๐ค๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ:

Key Players of the Needle Coke Market profiled in the report include

1. Phillips 66
2. Mitsubishi Chemical Corporation
3. JXTG Holdings
4. Baotailong New Material Co.
5. Indian Oil Corporation Ltd.
6. Bao-steel Group
7. C-Chem CO.
8. Seadrift Coke LP
9. Sinopec Shanghai Petrochemical Company Limited
10. Shanxi Hongte Coal Chemical Co Ltd.
11. Sinosteel Anshan Research Institute of Thermo-Energy Co.
12. Petrochina International Jinzhou Petrochemical Co.
13. Shijiazhuang Deli Chemical Co.
14. Petroleum Coke Industries Co.
15. Petrocokes Japan Ltd.
16. FangDa Carbon New Material Co. Ltd
17. POSCO
18. CNPC
19. Deli Chemical
20. Shandong Yida
21. SY Carbon

๐…๐ฎ๐ญ๐ฎ๐ซ๐ž ๐Ž๐ฎ๐ญ๐ฅ๐จ๐จ๐ค

The needle coke market is set to benefit from several growth drivers, including increased demand for advanced battery materials and expanding steel recycling processes. While challenges such as fluctuating raw material costs and technological limitations persist, opportunities in biodiesel production and olefin manufacturing present promising prospects for market expansion. The Asia Pacific region, with its robust industrial base, is expected to lead market growth, while North America and Europe will also contribute to the overall market dynamics.

The comprehensive analysis provided in this report offers valuable insights into the needle coke market, including detailed assessments of market segments, competitive strategies, and regional trends. This information is essential for stakeholders aiming to make informed decisions and capitalize on emerging opportunities in the evolving global market.

๐“๐จ ๐‚๐จ๐ง๐๐ฎ๐œ๐ญ ๐…๐ฎ๐ซ๐ญ๐ก๐ž๐ซ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก, ๐‚๐ฅ๐ข๐œ๐ค ๐‡๐ž๐ซ๐ž: https://www.maximizemarketresearch.com/market-report/needle-coke-market/11668/

๐“๐š๐›๐ฅ๐ž ๐จ๐Ÿ ๐‚๐จ๐ง๐ญ๐ž๐ง๐ญ:

๐“๐ก๐ž ๐๐ข๐  ๐๐ข๐œ๐ญ๐ฎ๐ซ๐ž: Market size, overview, and key points.
๐Ž๐ฎ๐ซ ๐…๐จ๐œ๐ฎ๐ฌ: Specific areas, timeframe, and scope we'll explore.
๐Œ๐š๐ซ๐ค๐ž๐ญ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ: Who are the big businesses and up-and-comers?
๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ข๐ณ๐ž: How much money is flowing in this market?
๐Œ๐š๐ซ๐ค๐ž๐ญ ๐๐ซ๐ž๐š๐ค๐๐จ๐ฐ๐ง: Different types of products/services and their segments.
๐‚๐จ๐ฆ๐ฉ๐ž๐ญ๐ข๐ญ๐ข๐จ๐ง ๐‚๐ก๐ž๐œ๐ค: How easy (or tough) is it to compete in this market?
๐–๐ก๐จ'๐ฌ ๐๐ฎ๐ฒ๐ข๐ง๐ ?: Understanding the customer base and their needs.
๐†๐ฅ๐จ๐›๐š๐ฅ ๐Œ๐š๐ซ๐ค๐ž๐ญ: How does this market differ around the world?
๐ƒ๐ž๐œ๐ข๐ฌ๐ข๐จ๐ง ๐“๐ข๐ฆ๐ž: Making informed choices in this market.
๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ก๐ข๐Ÿ๐ญ๐ฌ: What's driving changes in the market?
๐…๐ฎ๐ญ๐ฎ๐ซ๐ž ๐‹๐จ๐จ๐ค: Emerging trends that will shape the market.
๐“๐ก๐ž ๐’๐ž๐ฅ๐ฅ๐ž๐ซ๐ฌ: Who are the major companies selling in this market?
๐‚๐จ๐ฆ๐ฉ๐ž๐ญ๐ข๐ญ๐ข๐จ๐ง ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ: Strengths and weaknesses of the key players.

๐Š๐ž๐ฒ ๐ช๐ฎ๐ž๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐š๐ง๐ฌ๐ฐ๐ž๐ซ๐ž๐ ๐ข๐ง ๐ญ๐ก๐ž ๐๐ž๐ž๐๐ฅ๐ž ๐‚๐จ๐ค๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐š๐ซ๐ž:

What is Needle Coke?
What is the growth rate of the Needle Coke Market?
Which are the factors expected to drive the Needle Coke market growth?
What are the different segments of the Needle Coke Market?
What are the factors restraining the growth of the Needle Coke Market?
What is the demand pattern of the Needle Coke Market?
What major challenges could the Needle Coke Market face in the future?

๐€๐๐๐ข๐ญ๐ข๐จ๐ง๐š๐ฅ ๐‘๐ž๐ฅ๐ž๐ฏ๐š๐ง๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ :

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๐Ž๐ฎ๐ซ ๐€๐๐๐ซ๐ž๐ฌ๐ฌ:

๐Œ๐š๐ฑ๐ข๐ฆ๐ข๐ณ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐๐ฏ๐ญ. ๐‹๐ญ๐.
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Pune Banglore Highway, Narhe
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๐€๐›๐จ๐ฎ๐ญ ๐Œ๐š๐ฑ๐ข๐ฆ๐ข๐ณ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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