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Needle Coke Market - Forecasts from 2020 to 2025

  • ID: 5009214
  • Report
  • February 2020
  • Region: Global
  • 130 pages
  • Knowledge Sourcing Intelligence LLP
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FEATURED COMPANIES

  • Asbury Carbons
  • C-Chem CO., Ltd.
  • Indian Oil Corporation
  • Phillips 66
  • Seadrift Coke LP
  • SojitzJECT Corporation
  • MORE
The global needle coke market is expected to grow at a CAGR of 5.37% over the forecast period to reach US$3,182.160 million by 2025, increasing from US$2,324.985 million in 2019

Needle coke is used as a material for graphite electrodes in an electric furnace in the steel industry. The needle is coke is utilized as a consumable for conducting high current at a low level of voltage which is required for melting or alloying processes. In recent years the prices of needle coke have significantly increased due to rising demand from steel and the manufacturing industry (lithium-ion batteries used in the automotive industry). As needle coke application was limited to graphite electrodes its supply over the years has been limited but due to increasing demand for needle coke in the production of lithium-ion batteries used in electric vehicles, its demand outpaced supple leading to all-time high prices which are expected to remain same for a couple of years.

Expanding steel industry is driving the market for needle coke

Needle coke is used as the primary raw material for the manufacturing of graphite electrodes from arc furnace in the steel and aluminum industries. Expanding the steel industry is considered as one of the prime drivers for the growth of the market during the forecast period. The developing countries like India and Brazil where the steel industry is continuously striving for modernization and up-gradation to increase the energy efficiency a level widens up the growth opportunities for needle coke vendors and manufacturers in the coming years. In fact in India, according to the Indian Steel Association (ISA), steel demand grows by more than 7.2 percent in both 2019-20 and 2020-21. Favorable government policies in the steel and aluminum industry by attracting investment also increase the demand for needle over the forecast period. For instance, The Union Cabinet of Government of India has approved the National Steel Policy (NSP) 2017, aiming to create a globally competitive steel industry in India and The National Steel Policy of 2017, has anticipated 300 million tonnes of production capacity by 2030-31. Besides, according to the Organisation for Economic Co-operation and Development (OECD) and the World Steel Association, crude steel production in China has increased from 867,544 thousand MMT in 2017 to 927,523 thousand MMT in 2018. However, uncertainty in global crude oil prices and stringent environmental regulation over the manufacturing of needle coke are considered as the restraining factors for the growth of the market. However, the prices of pricing for graphite electrodes have historically been cyclical and reflecting the demand trends of the steel industry and the supply of graphite electrodes.

Increasing adoption in lithium Ion batteries is considered one of the driving factors for the growth of the market

Needle coke is one of the primary raw materials used in the production of lithium-Ion batteries and with the growing demand for smartphones and other wearable devices the market for needle coke is also expected to grow during the forecast period. In fact, the wearable devices market is projected to grow at a CAGR of 21.63% to reach US$80.438 billion by 2025

(Source: Knowledge Sourcing Intelligence). Technological giants around the globe are investing heavily in lithium-ion batteries which are also increasing the demand for needle coke. Increasing production and demand for electric vehicles around the globe is increasing the demand for lithium-Ion batteries which will further propel the market growth opportunities for needle coke in the coming years. For instance, according to the IEA, the battery electric vehicle sales in China have increased from 0.95 million in 2017 to 1.77 million in 2018. Also after the tax break on electric vehicles in China, the sales of electric vehicles further spiked in the coming years. Also, IEA further projects that the global electric car stock may range between nine and twenty million in 2020 and between forty and seventy million by 2025. Furthermore, in the last two years, lithium-Ion battery manufacturers have been using needle coke instead of other forms of graphite due to technological advances and the consistent quality that needle coke provides.

China is estimated to hold a significant share in the market

By geography, the global needle coke market has been segmented as North America, South America, Europe, the Middle East and Africa, and Asia Pacific (APAC) regions. The Asia Pacific accounts for the significant share of the global needle coke market in 2019 and is projected to grow at a healthy rate throughout the forecast period. This growth is attributed to the presence of big market players coupled with the established steel industry in the region. The needle coke market in the Asia Pacific region is anticipated to witness exponential growth owing to expanding the automotive and construction industry in developing countries like China and India. For instance, automotive production in India has increased from 3,898.425 thousand units in 2013 to 5,174.645 thousand in 2018 (Source: International Organization of Motor Vehicle Manufacturers). However, the North American needle coke market will witness considerable growth during the forecast period owing to the rising manufacturing and automotive industry coupled with favorable government policies in the region. Also, Europe is expected to grow at a marginal rate over the forecast period on account of stringent regulation over the production of needle coke.

Competitive Insights

Prominent key market players in the global needle coke market include Phillips, Seadrift, Mitsubishi Chemicals, JXTG Nippon Oil & Energy Corp and Sumitomo Chemical Company among others. At present, these companies hold a significant share in the market and are adopting various growth strategies such as new product launches, M&A, and partnerships to expand their global footprint. Companies are focusing on improving the quality of needle coke through research and development and by developing needle coke which can be used in the manufacturing of highly durable UHP electrodes. Furthermore, companies investing in technology and manufacturing strengths and capabilities to hold a competitive advantage over their competitors.

Segmentation:

By Grade
  • Intermediate
  • Premium
  • Super Premium

By Application
  • Graphite Electrode
  • lithium-ion batteries
  • Others

By Geography

North America
  • USA
  • Canada
  • Mexico

South America
  • Brazil
  • Others

Europe
  • UK
  • Germany
  • France
  • Italy
  • Others

Middle East and Africa

Asia Pacific
  • Japan
  • China
  • India
  • Others
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Asbury Carbons
  • C-Chem CO., Ltd.
  • Indian Oil Corporation
  • Phillips 66
  • Seadrift Coke LP
  • SojitzJECT Corporation
  • MORE
1. Introduction
1.1. Market Definition
1.2. Market Segmentation

2. Research Methodology
2.1. Research Data
2.2. Assumptions

3. Executive Summary
3.1. Research Highlights

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. Needle coke Market Analysis, By Grade
5.1. Introduction
5.2. Intermediate
5.3. Premium
5.4. Super Premium

6. Needle coke Market Analysis, By Application
6.1. Introduction
6.2. Graphite Electrode
6.3. lithium-ion batteries
6.4. Others

7. Needle coke Market Analysis, By Geography
7.1. Introduction
7.2. North America (US$ Million) (tons)
7.2.1. North America Needle coke Market, By Grade, 2019 to 2025 (US$ Million) (tons)
7.2.2. North America Needle coke Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.2.3. By Country
7.2.3.1. United States (US$ Million) (tons)
7.2.3.1.1. United States Needle coke Market, Grade, 2019 To 2025 (US$ Million) (tons)
7.2.3.1.2. United States Needle coke Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.2.3.2. Canada (US$ Million) (tons)
7.2.3.2.1. Canada Needle coke Market, By Grade, 2019 To 2025 (US$ Million) (tons)
7.2.3.2.2. Canada Needle coke Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.2.3.3. Mexico (US$ Million) (tons)
7.2.3.3.1. Mexico Needle coke Market, By Grade, 2019 To 2025 (US$ Million) (tons)
7.2.3.3.2. Mexico Needle coke Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.3. South America (US$ Million) (tons)
7.3.1. South America Needle coke Market, By Grade, 2019 to 2025 (US$ Million) (tons)
7.3.2. South America Needle coke Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.3.3. By Country
7.3.3.1. Brazil (US$ Million) (tons)
7.3.3.1.1. Brazil Needle coke Market, By Grade, 2019 To 2025 (US$ Million) (tons)
7.3.3.1.2. Brazil Needle coke Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.3.3.2. Others
7.4. Europe (US$ Million) (tons)
7.4.1. Europe Needle coke Market, By Grade, 2019 To 2025 (US$ Million) (tons)
7.4.2. Europe Needle coke Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.4.3. By Country
7.4.3.1. UK (US$ Million) (tons)
7.4.3.1.1. UK Needle coke Market, By Grade, 2019 To 2025 (US$ Million) (tons)
7.4.3.1.2. UK Needle coke Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.4.3.2. Germany (US$ Million) (tons)
7.4.3.2.1. Germany Needle coke Market, By Grade, 2019 To 2025 (US$ Million) (tons)
7.4.3.2.2. Germany Needle coke Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.4.3.3. France (US$ Million) (tons)
7.4.3.3.1. France Needle coke Market, By Grade, 2019 To 2025 (US$ Million) (tons)
7.4.3.3.2. France Needle coke Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.4.3.4. Italy (US$ Million) (tons)
7.4.3.4.1. Italy Needle coke Market, By Grade, 2019 To 2025 (US$ Million) (tons)
7.4.3.4.2. Italy Needle coke Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.4.3.5. Others
7.5. Middle East and Africa (US$ Million) (tons)
7.5.1. Middle East And Africa Needle coke Market, By Grade, 2019 To 2025 (US$ Million) (tons)
7.5.2. Middle East And Africa Needle coke Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.6. Asia Pacific (US$ Million) (tons)
7.6.1. Asia Pacific Needle Coke Market, By Grade, 2019 To 2025 (US$ Million) (tons)
7.6.2. Asia Pacific Needle Coke Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.6.3. By Country
7.6.3.1. Japan (US$ Million) (tons)
7.6.3.1.1. Japan Needle coke Market, By Grade, 2019 To 2025 (US$ Million) (tons)
7.6.3.1.2. Japan Needle coke Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.6.3.2. China (US$ Million) (tons)
7.6.3.2.1. China Needle coke Market, By Grade, 2019 To 2025 (US$ Million) (tons)
7.6.3.2.2. China Needle coke Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.6.3.3. India (US$ Million) (tons)
7.6.3.3.1. India Needle Coke Market, By Grade, 2019 To 2025 (US$ Million) (tons)
7.6.3.3.2. India Needle coke Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.6.3.4. Others

8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix

9. Company Profiles
9.1. Phillips 66
9.2. Asbury Carbons
9.3. Seadrift Coke LP
9.4. Graf Tech International Holdings Inc.
9.5. Mitsubishi Chemical Corporation
9.6. SojitzJECT Corporation
9.7. Indian Oil Corporation
9.8. C-Chem CO., Ltd.
9.9. Sumitomo Corporation
9.10. JXTG Nippon Oil & Energy Corp.
Note: Product cover images may vary from those shown
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  • Phillips 66
  • Asbury Carbons
  • Seadrift Coke LP
  • GrafTech International Holdings Inc.
  • Mitsubishi Chemical Corporation
  • SojitzJECT Corporation
  • Indian Oil Corporation
  • C-Chem CO., Ltd.
  • Sumitomo Corporation
  • JXTG Nippon Oil & Energy Corp.
Note: Product cover images may vary from those shown
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