Needle Coke Market A Comprehensive Study Explores Huge Growth in Future

Allied Market Research has published a comprehensive report titled, "Needle Coke Market by Type (Petroleum-Based, Coal-Based), by Application (Graphite Electrodes, Lithium-ion Batteries, Special Carbon Material, Rubber Compounds, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global needle coke industry was valued at $2.3 billion in 2021 and is projected to reach $5.7 billion by 2031, growing at a CAGR of 9.8% from 2022 to 2031.

The report provides a thorough analysis of evolving market trends, key segments, major investment opportunities, value chains, competitive landscapes, and regional dynamics.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/A17410

Market Growth Drivers

The increasing popularity of super-premium grade needle coke, attributed to its low sulfur content and excellent properties such as low puffing rate, low coefficient of thermal expansion, and large particle size, is a key driver for market growth. However, high production costs act as a restraint. On the positive side, technological advancements present lucrative opportunities for industry expansion.

Segment Analysis

By Type:

Petroleum-Based Segment: Dominated the market with over two-thirds share in 2021 and is expected to maintain leadership, exhibiting the fastest CAGR of 10.2% during 2022-2031. The increasing global supply of heavy oils and developments in the cement and power generation industries fuel its growth.

By Application:

Graphite Electrodes Segment: Accounted for nearly 80% of the market share in 2021 and is projected to remain dominant through 2031. Graphite electrodes are widely used in steel production via electric arc furnaces, as well as in battery manufacturing, electroplating, welding, and chemical applications.

Lithium-ion Battery Segment: Expected to register the fastest growth with a CAGR of 11.1% from 2022 to 2031, driven by rising demand in electronics, electric vehicles, energy storage, and consumer products.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/needle-coke-market/purchase-options

Regional Insights

Asia-Pacific emerged as the largest market, capturing nearly 60% of the global share in 2021. The region is anticipated to witness the highest CAGR of 10.7% throughout the forecast period, driven by the rising demand for high-quality needle coke for graphite electrodes and the growing electric vehicle market.

Key Market Players

Essar Oil Ltd.

HEG Limited

Indian Oil Corporation

Asbury Carbons Inc.

Mott Corporation

Nippon Steel Corporation

Petroleum Coke Industry

Sumitomo Corporation

GrafTech International Ltd.

Phillips 66

Reliance Industries

Shell Global

Tokai Carbon Co., Ltd.

Baosteel Group

Mitsubishi Chemical Corporation

These industry leaders employ strategies such as expansion, product innovation, partnerships, and mergers to strengthen their market presence. The report offers an in-depth analysis of their operations, financial performance, and product portfolios.

Conclusion

The needle coke market is set for robust growth, driven by increasing demand from steel production, electric vehicles, and technological advancements in battery applications. Despite production cost challenges, ongoing innovations and investments are poised to shape the market's trajectory positively.

𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/needle-coke-market-A17410

Contact:

David Correa

United States

1209 Orange Street,

Corporation Trust Center,

Wilmington, New Castle,

Delaware 19801 USA.

Int'l: +1-503-894-6022

Toll Free: +1-800-792-5285

Fax: +1-800-792-5285

help@alliedmarketresearch.com

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.