Dublin, Jan. 27, 2025 (GLOBE NEWSWIRE) — The “Needle Coke – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Needle Coke was estimated at US$4.1 Billion in 2023 and is projected to reach US$5.0 Billion by 2030, growing at a CAGR of 2.8% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Needle coke is a premium grade of petroleum coke, characterized by its needle-like structure, high carbon content, low sulfur levels, and high electrical conductivity. It is primarily used in the production of graphite electrodes, which are essential components in electric arc furnaces (EAF) for steelmaking, lithium-ion battery anodes, and other high-performance applications in the chemical and metallurgical industries.
The importance of needle coke lies in its ability to withstand high temperatures, maintain structural integrity, and deliver excellent conductivity, making it an indispensable material in various high-temperature, energy-intensive processes. In steelmaking, graphite electrodes made from needle coke facilitate the efficient melting of scrap steel in electric arc furnaces, which have become the dominant technology in steel production due to their lower energy consumption and reduced emissions compared to blast furnaces.
How Are Technological Advancements Shaping the Needle Coke Market?
Technological advancements have significantly enhanced the production, processing, and application of needle coke, driving innovation across industries that rely on high-performance materials. One of the major developments is the improvement in refining processes, which have enabled more efficient production of petroleum needle coke. Refineries have optimized processes such as delayed coking and hydrocracking to produce higher yields of needle coke, with better control over impurities like sulfur and ash content. This has resulted in higher-quality needle coke that meets the stringent requirements of graphite electrode manufacturers and battery producers.
The development of coal tar pitch needle coke has further expanded the availability and application of needle coke. Advanced processing techniques have improved the quality of coal-based needle coke, making it suitable for use in both electrodes and battery anodes. While traditionally more limited in supply compared to petroleum needle coke, coal-based variants are now gaining traction as manufacturers seek to diversify their raw material sources, particularly in regions with abundant coal reserves. This diversification helps mitigate supply risks and stabilize pricing in the needle coke market.
Innovations in synthetic graphite production have also impacted the needle coke market, particularly in the growing field of lithium-ion batteries. Manufacturers are investing in technologies to enhance the performance of synthetic graphite anodes, such as surface modification and coating techniques that improve conductivity and cycle life. Needle coke`s high graphitization potential makes it a preferred raw material for synthetic graphite production, and advancements in anode technology have increased demand for high-purity, low-ash needle coke to meet the performance requirements of modern battery applications. These innovations not only expand the capabilities of needle coke but also align with broader trends toward sustainability, efficiency, and improved energy storage in high-growth industries.
What Are the Emerging Applications of Needle Coke Across Different Sectors?
Needle coke is finding expanding applications across various sectors, driven by its unique properties and the demand for high-performance materials. In the steel industry, needle coke is primarily used in the production of graphite electrodes for electric arc furnaces. As the global steel industry shifts towards electric arc furnace technology, which is more energy-efficient and environmentally friendly than traditional blast furnaces, the demand for needle coke has increased. Graphite electrodes made from needle coke are critical for achieving the high temperatures needed to melt scrap steel, making them essential for efficient steel recycling and production.
In the battery sector, needle coke plays a crucial role in the production of synthetic graphite anodes for lithium-ion batteries. Synthetic graphite derived from needle coke offers high purity, low expansion, and excellent conductivity, making it ideal for battery anodes. With the rise of electric vehicles (EVs), renewable energy storage, and portable electronics, the demand for lithium-ion batteries has surged, leading to a corresponding increase in the demand for needle coke. The performance and longevity of lithium-ion batteries depend heavily on the quality of graphite anodes, making needle coke a vital material in the transition toward clean energy technologies.
In the chemical and metallurgical industries, needle coke is used in high-temperature processes such as furnace linings, crucibles, and molds. Its thermal stability, low reactivity, and high carbon content make it suitable for producing high-quality refractory materials and specialized carbon products. Additionally, needle coke is used in nuclear applications, where its high purity and structural integrity under extreme conditions are critical for producing components like control rods and fuel elements.
The expanding applications of needle coke across these sectors highlight its critical role in supporting energy-efficient, high-performance, and sustainable solutions in industries like steel production, energy storage, and advanced materials manufacturing. As global demand for steel, electric vehicles, and renewable energy storage continues to rise, needle coke is set to play an increasingly important role in enabling technological advancements and sustainable growth.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Needle Coke Market such as Baosteel Group Corporation, C-Chem Co., Ltd., Indian Oil Corporation Ltd., JXTG Holdings, Inc., Mitsubishi Chemical Corporation and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Petroleum Derived Needle Coke segment, which is expected to reach US$3.1 Billion by 2030 with a CAGR of a 3.0%. The Coal Tar Pitch Derived Needle Coke segment is also set to grow at 2.5% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $1.1 Billion in 2023, and China, forecasted to grow at an impressive 5.0% CAGR to reach $1.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Segments
- Application (Graphite Electrode, Lithium Ion Batteries, Other Applications)
- Grade (Intermediate Premium, Base Premium, Super Premium)
- Type (Petroleum Derived, Coal Tar Pitch Derived)
Key Attributes:
Report Attribute | Details |
No. of Pages | 197 |
Forecast Period | 2023 – 2030 |
Estimated Market Value (USD) in 2023 | $4.1 Billion |
Forecasted Market Value (USD) by 2030 | $5 Billion |
Compound Annual Growth Rate | 2.8% |
Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Needle Coke – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Growing Demand for Graphite Electrodes Drives Needle Coke Market Growth
- Increasing Steel Production Sets the Stage for Needle Coke Adoption
- Expanding Applications in Lithium-ion Batteries Strengthen Business Case
- Advancements in Electric Vehicle (EV) Manufacturing Propel Needle Coke Demand
- Rising Investment in Battery Production Bodes Well for Needle Coke Market
- Expanding Use in Aerospace Applications Sets the Stage for Needle Coke Expansion
- Increasing Use in Foundries and Furnaces Spurs Demand for Needle Coke
- Strong Demand in Aluminum Production Propels Needle Coke Market Growth
- Rising Applications in Electrode Paste Expands Addressable Market
- Expanding Role in Nuclear Power Applications Sets the Stage for Market Growth
FOCUS ON SELECT PLAYERS:Some of the 47 companies featured in this report include
- Baosteel Group Corporation
- C-Chem Co., Ltd.
- Indian Oil Corporation Ltd.
- JXTG Holdings, Inc.
- Mitsubishi Chemical Corporation
- Petroleum Coke Industries Co. (K.S.C)
- Phillips 66 Company
- Shaanxi Coal and Chemical Industry Group Co., Ltd.
- SINOPEC Shanghai Petrochemical Co. Ltd
For more information about this report visit https://www.researchandmarkets.com/r/dn1czf
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