[Latest] Global Needle Coke Market Size/Share Worth USD 6.2

Austin, TX, USA, May 07, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Needle Coke Market Size, Trends and Insights By Type (Petroleum Based, Coal Based), By Application (Graphite Electrodes, Lithium-ion Battery, Special Carbon Material, Rubber Compounds, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” in its research database.

“According to the latest research study, the demand of global Needle Coke Market size & share was valued at approximately USD 2.5 Billion in 2023 and is expected to reach USD 2.8 Billion in 2024 and is expected to reach a value of around USD 6.2 Billion by 2033, at a compound annual growth rate (CAGR) of about 5.5% during the forecast period 2024 to 2033.”

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Needle Coke Market: Overview

Needle coke is a specialized type of petroleum coke, which is a carbonaceous solid derived from oil refining. It is distinguished by its unique structure composed of long, thin, needle-like crystalline structures. This structure gives needle coke exceptional mechanical strength, thermal conductivity, and resistance to thermal expansion.

The global needle coke market is witnessing several notable trends. Firstly, there’s a growing demand for needle coke in the production of lithium-ion batteries and fuel cells, driven by the increasing adoption of electric vehicles and renewable energy technologies worldwide.

Additionally, the steel industry’s continued reliance on electric arc furnaces for steelmaking is fueling demand for needle coke as a crucial material for graphite electrodes. Moreover, advancements in technology and manufacturing processes are improving the quality and efficiency of needle coke production, leading to enhanced product performance and cost-effectiveness.

Furthermore, there’s a rising emphasis on sustainability and environmental regulations, encouraging manufacturers to explore greener production methods and alternative feedstocks for needle coke. Overall, these trends indicate a dynamic and evolving market landscape characterized by increasing demand, technological innovation, and sustainability considerations.

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By type, the petroleum-based segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. The petroleum-based needle coke market is experiencing increasing demand driven by the growth of electric vehicles, renewable energy technologies, and steel production. Additionally, technological advancements and investments in sustainable energy solutions are shaping the market toward higher-quality and more efficient needle coke production processes.

By application, the graphite electrode segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. Recent trends in the graphite electrode needle coke market include increasing demand driven by the growth of electric vehicles and renewable energy technologies, tightening supply due to limited production capacity expansion, and rising prices attributed to higher raw material costs and market consolidation among key producers.

In the Asia-Pacific coke market, key trends include growing demand for steel production, driven by infrastructure and construction projects, along with the rise in electric vehicle adoption, leading to increased demand for needle coke in lithium-ion batteries. Additionally, environmental regulations are pushing for cleaner coke production methods.

Phillips 66, a significant provider of the exclusive graphite needle coke used in producing lithium-ion batteries for electric vehicles worldwide, has revealed a new partnership with Faradion. This collaboration aims to advance anode materials for sodium-ion batteries, an emerging energy storage technology.

Report Scope

Feature of the Report	Details
Market Size in 2024	USD 2.8 Billion
Projected Market Size in 2033	USD 6.2 Billion
Market Size in 2023	USD 2.5 Billion
CAGR Growth Rate	5.5% CAGR
Base Year	2023
Forecast Period	2024-2033
Key Segment	By Type, Application and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the Needle Coke report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the Needle Coke report has been modified to include the COVID-19 impact study prior to delivery.)

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CMI has comprehensively analyzed needle coke market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict an in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this needle coke industry.

The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.

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Key questions answered in this report:

What is the size of the Needle Coke market and what is its expected growth rate?
What are the primary driving factors that push the Needle Coke market forward?
What are the Needle Coke Industry's top companies?
What are the different categories that the Needle Coke Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Needle Coke market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2024−2033
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Needle Coke Market: Regional Analysis

By region, Needle Coke market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. The Asia-Pacific dominated the global needle coke market in 2022 with a market share of 45% in 2022 and is expected to keep its dominance during the forecast period 2024-2032.

The Asia-Pacific region is a major driver of the needle coke market due to several factors. Rapid industrialization and urbanization in countries like China and India have led to increased demand for steel and other carbon-based products, which in turn drives the need for needle coke in the production of graphite electrodes used in steelmaking.

Additionally, the growing adoption of electric vehicles (EVs) and renewable energy technologies in the region has increased the demand for lithium-ion batteries and fuel cells, both of which require needle coke as a key component.

Furthermore, the presence of major needle coke producers and manufacturers in countries like Japan and South Korea further fuels the market growth in the Asia-Pacific region. Overall, the region’s expanding industrial base, coupled with its focus on technological advancements and sustainable energy solutions, continues to drive the demand for needle coke.

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List of the prominent players in the Needle Coke Market:

Phillips 66
Mitsubishi Chemical Corporation
PetroChina Company Limited
C-Chem Co. Ltd.
JXTG Holdings Inc.
Baowu Steel Group Corporation Limited
Indian Oil Corporation Limited
Shanxi Hongte Coal Chemical Industry Co. Ltd.
Shandong Yida New Material Co. Ltd.
Asbury Carbons
Baosteel Group Corporation
Sumitomo Chemical Co. Ltd.
Seadrift Coke LP
Sinopec Shanghai Petrochemical Company Limited
PCK Petroleum Development Limited
ConocoPhillips Company
Mitsubishi Chemical Holdings Corporation
Indian Oil Corporation
Sinopec Shanghai Petrochemical Co. Ltd.
Sojitz JECT Corporation
Others

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The Needle Coke Market is segmented as follows:

By Type

Petroleum Based
Coal Based

By Application

Graphite Electrodes
Lithium-ion Battery
Special Carbon Material
Rubber Compounds
Others

By Grade

Intermediate
Premium
Super Premium

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Regional Coverage:

North America

U.S.
Canada
Mexico
Rest of North America

Europe

Germany
France
U.K.
Russia
Italy
Spain
Netherlands
Rest of Europe

Asia Pacific

China
Japan
India
New Zealand
Australia
South Korea
Taiwan
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

This Needle Coke Market Research/Analysis Report Contains Answers to the following Questions.

Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Needle Coke Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Needle Coke Market? What Was the Capacity, Production Value, Cost and PROFIT of the Needle Coke Market?
What Is the Current Market Status of the Needle Coke Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Needle Coke Market by Considering Applications and Types?
What Are Projections of the Global Needle Coke Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Needle Coke Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Needle Coke Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Needle Coke Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Needle Coke Industry?

Click Here to Access a Free Sample Report of the Global Needle Coke Market @ https://www.custommarketinsights.com/report/needle-coke-market/

Reasons to Purchase Needle Coke Market Report

Needle Coke Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Needle Coke Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Needle Coke Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Needle Coke Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the global Needle Coke market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Needle Coke market analysis.

The competitive environment of current and potential participants in the Needle Coke market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide Needle Coke market should find this report useful. The research will be useful to all market participants in the Needle Coke industry.
Managers in the Needle Coke sector are interested in publishing up-to-date and projected data about the worldwide Needle Coke market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Needle Coke products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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