Needle Coke Market Set to Reach USD 7.1 Billion by 2030, Growing at a CAGR of 6.5%

Needle Coke Market Overview

The needle coke market, a critical component in the production of lithium-ion batteries and electric vehicle (EV) applications, is set for substantial growth. Valued at USD 6.7 billion in 2023, the market is projected to expand at a CAGR of 5.3% from 2024 to 2030. This growth is driven by increasing demand for EV batteries, which rely on high-quality needle coke for graphite electrodes.

Key Players in the Needle Coke Market

The needle coke market is highly competitive, with key players such as Mitsubishi Chemical Corporation, LG Chem, Shandong Yida New Energy, CPC Corporation, and ConocoPhillips dominating the landscape. These companies are actively engaged in mergers and acquisitions to strengthen their positions and enhance production capacities, as demand for needle coke surges in tandem with the global electric vehicle boom.

𝐅𝐨𝐫 𝐟𝐮𝐫𝐭𝐡𝐞𝐫 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧, 𝐜𝐥𝐢𝐜𝐤 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐥𝐢𝐧𝐤:https://www.maximizemarketresearch.com/request-sample/11668/

Mergers & Acquisitions in the Needle Coke Market

Recent mergers and acquisitions across the needle coke sector are shaping its future. Here's a breakdown of significant activities across key regions:

North America:

In the United States, ConocoPhillips has recently acquired Chevron's needle coke production assets, enhancing its supply capabilities for battery-grade products. This acquisition aligns with the growing demand for needle coke in EV manufacturing.

Asia-Pacific:

Japan: Mitsubishi Chemical Corporation has strengthened its market share through strategic partnerships with key graphite electrode manufacturers. This move is aimed at bolstering its needle coke production for the burgeoning battery market.

South Korea: POSCO has made a strategic acquisition of Hyundai Steel's needle coke production unit to streamline its supply chain for EV batteries.
Vietnam & Thailand: As Southeast Asia becomes a manufacturing hub for electric vehicles, companies like Shandong Yida New Energy are investing heavily in needle coke production facilities in these countries to meet growing demand from regional battery manufacturers.

Europe:

In Germany, SGL Carbon has expanded its presence in the needle coke market through the acquisition of a significant stake in Graphite India, a move that positions SGL as a major player in Europe's electric vehicle supply chain.

𝐅𝐨𝐫 𝐟𝐮𝐫𝐭𝐡𝐞𝐫 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧, 𝐜𝐥𝐢𝐜𝐤 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐥𝐢𝐧𝐤:https://www.maximizemarketresearch.com/request-sample/11668/

Regional Developments in Needle Coke Production

Vietnam, Thailand, and Singapore: Rising Markets

Southeast Asia is rapidly emerging as a major player in the needle coke market, with Vietnam and Thailand leading the charge. Both countries are ramping up production to meet the needs of global EV manufacturers. Government support for green energy and electric mobility is accelerating growth, making Southeast Asia a key hub for manufacturing and raw materials, particularly needle coke.

𝐅𝐨𝐫 𝐟𝐮𝐫𝐭𝐡𝐞𝐫 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧, 𝐜𝐥𝐢𝐜𝐤 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐥𝐢𝐧𝐤:https://www.maximizemarketresearch.com/request-sample/11668/

Needle Coke Market Segmentation

by Grade

Base Premium
Intermediate Premium
Super Premium

by Type

Petroleum Derived
Coal Tar Pitch Derived

by Application

Steel Industry
Aluminium Industry
Nuclear Power

𝐂𝐥𝐢𝐜𝐤 𝐡𝐞𝐫𝐞 𝐟𝐨𝐫 𝐚 𝐦𝐨𝐫𝐞 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐞𝐱𝐩𝐥𝐚𝐧𝐚𝐭𝐢𝐨𝐧:https://www.maximizemarketresearch.com/market-report/needle-coke-market/11668/

Needle Coke Market Key Players

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

Japan and South Korea: Key Players with Strong Industry Consolidation

In Japan and South Korea, technological advancements and industry consolidation are pivotal. Japan's Mitsubishi is investing heavily in needle coke production technology, while South Korea's POSCO is expanding its global reach through strategic acquisitions of needle coke facilities.

United States and Europe: Strategic Partnerships to Meet Global Demand

The United States and Europe continue to lead with new partnerships and innovations in the needle coke sector. The EU's push toward carbon neutrality has spurred demand for electric vehicles and, by extension, needle coke. Germany's SGL Carbon and France's Imerys are working on long-term collaborations to expand their needle coke capabilities.

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