Vancouver, British Columbia, Dec. 08, 2020 (GLOBE NEWSWIRE) -- The Global Needle Coke Market is forecast to be worth USD 5.88 Billion by 2027, according to the current analysis by Emergen Research. The market for needle coke is witnessing a demand for technology-intensive products, and the product is used mainly in the production of graphite electrodes. The growing popularity of lithium-ion batteries in hybrid electric vehicles, battery electric vehicles, smart devices, and laptops, as well as the development of steel industries in the Asia Pacific region, will propel the growth of the market.
The growing aerospace industry is propelling the demand for the market as there is increased usage of electrodes in the aircraft. With the growth in commercial usage of aircraft, the market for needle coke is also witnessing high demand. The market will be hindered due to limited DCC capabilities along with advancements in technology. However, properties such as a low coefficient of thermal expansion, the ability to prevent oxidation, and better shock absorption are anticipated to foster the growth of the needle coke market.
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Graphite is a commonly used material in smartphones and laptops as a safe and reliable source of energy. Numerous companies are investing in the research of new anode materials and improving the graphite materials, which is expected to drive the usage of lithium-ion batteries and foster its demand.
Key Highlights From The Report
- In August 2018, Baosteel Chemical Co. Ltd collaborated with Fangda Carbon to set up an Ultra-High Power grade graphite electrode production plant known as ‘Boafang Carbon Material Technology Co. Ltd.’
- Needle coke is manufactured from both petroleum-based and coal-based feedstocks. Coal-based needle coke is made from coal tar pitch, a by-product of coking metallurgical coal for blast-furnace steelmaking. The segment is projected to grow with a CAGR of xx% during the forecast period.
- The Super-Premium sub-segment held a major market share in the year 2019 and is a preferred grade in several steel and carbon companies owing to exceptional inherent and low sulfur content properties.
- Graphite electrodes are the major heating element used in an electric arc furnace. It is a steelmaking process wherein scrap from old appliances or cars is melted to produce new steel.
- North America held a significant share owing to the growth in end-use industries. Furthermore, the rise in demand for electric vehicles and the rapid industrialization of the construction and building industry is fostering the growth of the market.
- Key participants include Phillips 66, Mitsubishi Chemical Corporation, Indian Oil Corporation Limited, Graftech International, Sojitz Ject Corporation, Asbury Carbon Inc., China National Petroleum Corporation, Sumitomo Chemical Company, Baosteel Group, and Graphite India Limited, among others.
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For the purpose of this report, Emergen Research has segmented the Global Needle Coke Market based on product type, grade, application, and region:
- Product Type Outlook (Revenue: USD Billion; 2017-2027)
- Coal-Based Needle Coke
- Petroleum-Based Needle Coke
- Grade Outlook (Revenue: USD Billion; 2017-2027)
- Super-Premium Grade
- Premium Grade
- Intermediate-Premium Grade
- Application Outlook (Revenue: USD Billion; 2017-2027)
- Electrodes
- Silicon Metal & Ferroalloys
- Carbon Black
- Rubber Compounds
- Others
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- Regional Outlook (Revenue: USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Rest of MEA
- North America
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About Emergen Research
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