Needle Coke Market

Introduction of the Global Needle Coke Market Report

Needle coke refers to a premium grade and high-value petroleum coke which is used for the manufacturing of graphite electrodes of low Coefficient of Thermal Expansion (CTE) for the electric arc furnaces in the steel sector. The coal-based needle coke is manufactured using coal tar which appears during the production of coke. As compared to petroleum-based needle coke, the coal-based needle coke has physical properties, which include the low coefficient of thermal expansion and less breakage.

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Market Dynamic

Key Drivers and Emerging Trends

One of the major factors that is contributing to the growth of the global needle coke market includes the significant shift of the consumer’s preference towards electric cars, which is increasing the application of lithium-ion batteries in Battery Electric Vehicle (BEV) and Hydrid Electric Vehicles (HEV) sectors. The needle coke is used as an anode of a lithium-ion secondary battery. According to IEA, the overall sales of electric cars were estimated to be 2.1 million for the year 2019, which is mainly due to the various technological progress in the electrification of two/three-wheelers, buses, and trucks. Thus, the rising penetration of electric vehicles is responsible for the market growth. In addition to this, the introduction of various initiatives to decrease carbon emission is further supporting the adoption of electric vehicles.

There has been a strong demand for the needle coke in sectors such as construction and oil & gas. It is used as a raw material in steel recycling and for various other applications such as engineering, automobile, and aerospace.  The emergence of the COVID-19 pandemic has impacted the steel business at the global level. The strict lockdown and never-ending uncertainties have negatively impacted the production of needle coke around the world.

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Application – Segment Analysis

Based on the application, the graphite electrodes segment is predicted to grow at a higher CAGR over the forecast period. Various benefits offered by graphite, such as higher thermal conductivity and low electrical resistance to heat is encouraging the end-users to opt for this segment. The graphite electrode is divided into four types: RP Graphite electrodes, SHP Graphite electrodes, HP Graphite electrodes, and UHP graphite electrodes. It is used in electric arc furnace steel manufacturing, alloy steel, and various other alloys as they offer a high level of generating heat and are used in the refinement of steel.

Type – Segment Analysis

Based on the type, the coal based needle coke is anticipated to witness a faster CAGR during the forecast period. The coal based needle coke is manufactured from the coal tar produced during the needle coke manufacturing process. The major factor which is driving the growth of the segment is the various benefits offered by coal based needle coke, such as low electric resistance, low coefficient of thermal expansion, and other advantages as compared to the petroleum needle coke is further surging the segment growth.

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Regional – Segment Analysis:

Based on the region, Asia-Pacific region is anticipated to grow at a higher CAGR during the forecast period. As per the Worldsteel Association, China was among the top steel-producing countries in 2018 and 2019, amounting to 920 tonnages in 2018 and 996.3 tonnages in 2019. The country has some of the top leading steel-producing companies, such as China Baowu Group, China Steel Corporation, among others. China is also producing lithium-ion batteries on a large scale. The strong demand for graphite electrodes and lithium-ion batteries is further driving the growth of this region.

Top Market Players

Various notable players operating in the market include Indian Oil Corporation Ltd., Phillips 66 Company, Mitsubishi Chemical Corporation, Asbury Carbons, Graftech International, Sojitz JECT Corporation, Sumitomo Corporation, C-Chem Co., Ltd., Baosteel Group Hu, and Graphite India Limited, among others. 

Key Developments:

• • In 2020, Indian Oil Corporation Ltd., installed Grassroot Needle Coker Unit at Paradip Refinery through its R&D’s in-house technologies. The company has already passed Stage-1 approval of the installation.

Segments covered in the Report:

The global needle coke market has been segmented on the basis of application, type, and regions. Based on application, the market is segmented into lithium ion anode, graphite electrodes, and others. Based on the type, the market has been segmented into coal based and oil based. 

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Key questions answered in this research report:

• • At what pace is the global needle coke market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global needle coke market? what will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global needle coke market?
  • Which application generated maximum revenues in 2019 and identify the most promising application during the forecast period?
  • What are the various type areas of the global needle coke market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Application, By Type, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Indian Oil Corporation Ltd., Phillips 66 Company, Mitsubishi Chemical Corporation, Asbury Carbons, Graftech International, Sojitz JECT Corporation, Sumitomo Corporation, C-Chem Co., Ltd., Baosteel Group Hu, and Graphite India Limited, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Needle Coke Market by Application

• • Lithium Ion Anode
  • Graphite Electrodes
  • Others

Global Needle Coke Market by Type

• • Coal based
  • Oil based

Global Needle Coke Market by Region

• • North America Needle Coke Market (Option 1: As a part of the free 25% customization)
    • North America Needle Coke Market by Application
    • North America Needle Coke Market by Type
    • US Needle Coke Market All-Up
    • Canada Needle Coke Market All-Up
  • Europe Needle Coke Market (Option 2: As a part of the free 25% customization)
    • Europe Needle Coke Market by Application
    • Europe Needle Coke Market by Type
    • UK Needle Coke Market All-Up
    • Germany Needle Coke Market All-Up
    • France Needle Coke Market All-Up
    • Spain Needle Coke Market All-Up
    • Rest of Europe Needle Coke Market All-Up
  • Asia-Pacific Needle Coke Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Needle Coke Market by Application
    • Asia-Pacific Needle Coke Market by Type
    • China Needle Coke Market All-Up
    • India Needle Coke Market All-Up
    • Japan Needle Coke Market All-Up
    • Rest of APAC Needle Coke Market All-Up
  • RoW Needle Coke Market (Option 4: As a part of the free 25% customization)
    • RoW Needle Coke Market by Application
    • RoW Needle Coke Market by Type
    • Brazil Needle Coke Market All-Up
    • South Africa Needle Coke Market All-Up
    • Saudi Arabia Needle Coke Market All-Up
    • UAE Needle Coke Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Needle Coke Market All-Up

Major Players Operating in the Global Needle Coke Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Indian Oil Corporation Ltd.
  • Phillips 66 Company
  • Mitsubishi Chemical Corporation
  • Asbury Carbons
  • Graftech International
  • Sojitz JECT Corporation
  • Sumitomo Corporation
  • C-Chem Co., Ltd.
  • Baosteel Group Hu
  • Graphite India Limited