Needle Coke Market Size Worth US$ 5.6 Billion By 2028 | Growth Rate (CAGR) of 5.8%

Needle coke refers to a high-value specialty grade of petroleum coke with a highly crystalline structure. It is manufactured from coal-tar pitch, petroleum fluidized catalytic cracking (FCC) decant oil, ethylene tar pitch, solvent-refined coal, and low-sulfur vacuum residues.

According to IMARC Group latest report titled “Needle Coke Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on needle coke market price trends. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global needle coke market size reached US$ 4.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.

Needle coke refers to a specialty grade carbon raw material derived from coal tar pitch, ethylene tar pitch, solvent-refined coal, low-sulfur vacuum residues, petroleum fluidized catalytic cracking (FCC) decant oil, etc. It possesses high strength, electrical conductivity, real and bulk density, etc. Needle coke has a low coefficient of thermal expansion (CTE) and heteroatom and ash content. It has a strong and parallel orientation of turbostratic layer structure and the particular physical shape of the grains. Consequently, needle coke exhibits excellent graphitizability.

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Market Trends:

The widespread adoption of this raw material as a carbonaceous filler in the production of graphite electrodes for ultra-high power electric arc furnaces (EAF) in the steel smelting industry is primarily augmenting the needle coke market. Furthermore, the rising usage of these electrodes to melt scrap substitutes and maintain the temperature of molten steel, as they have low resistivity, high mechanical strength, excellent thermal shock resistance and oxidation resistance, etc., is positively influencing the global market. Apart from this, the escalating demand for needle coke in the manufacturing of synthetic graphite, which is used to produce lithium-ion batteries for EVs, is acting as another significant growth-inducing factor. Moreover, the inflating need for electric vehicles, on account of the growing consumer environmental concerns, is also bolstering the market growth. Besides this, extensive investments in R&D activities for developing needle coke from low-value heavier hydrocarbon streams without any feed pre-treatment process are further catalyzing the global market. Additionally, the introduction of heavy energy storage batteries is expected to fuel the needle coke market in the coming years.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Asbury Carbons Inc.
• C-Chem CO. Ltd (Nippon Steel Corporation)
• ENEOS Holdings Inc.
• GrafTech International Ltd.
• Graphite India Limited
• HEG Limited
• Mitsubishi Chemical Holdings Corporation
• Mott Corporation
• Phillips 66 Company
• Sojitz Corporation
• Sumitomo Corporation
• Tokai Carbon Co. Ltd

Needle Coke Market Segmentation:

Our report has categorized the market based on region, type, grade, application and end use industry.

Breakup by Type:

• Coal-tar Pitch Derived
• Petroleum Derived

Breakup by Grade:

• Intermediate
• Premium
• Super Premium

Breakup by Application:

• Graphite Electrodes
• Silicon Metal and Ferroalloys
• Lithium-ion Battery
• Carbon Black
• Rubber Compounds
• Others

 Breakup by End Use Industry:

• Aluminum and Steel
• Automotive
• Semiconductor
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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