Global Needle Coke Market Report by Type, Grade, Application, End Use Industry, and Region 2023-2028

The global needle coke market size reached US$ 4.0 Billion in 2022. Looking forward, the market is expected to reach US$ 5.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.77% during 2022-2028.

Needle coke is a specialty grade carbon raw material derived from coal tar pitch, ethylene tar pitch, solvent refined coal, low-sulphur vacuum residues, or petroleum fluidized catalytic cracking (FCC) decant oil. It possesses high strength, electrical conductivity, real and bulk density, while having a low coefficient of thermal expansion (CTE) and heteroatom and ash content. It also exhibits excellent graphitizability on account of its strong parallel orientation of turbostratic layer structure and a particular physical shape of the grains.

Needle Coke Market Trends

Needle coke is widely used as a carbonaceous filler in the production of graphite electrodes for ultra-high power electric arc furnaces (EAF) in the steel smelting industry. As these electrodes have low resistivity, high mechanical strength, and excellent thermal shock resistance and oxidation resistance, they are extensively utilized to melt scrap substitutes and maintain the temperature of molten steel. Moreover, needle coke finds applications in the manufacturing of synthetic graphite, which is used to make lithium-ion batteries for electric vehicles (EVs). This, in confluence with the escalating demand for EVs worldwide on account of the rising carbon emissions and increasing environmental concerns, is contributing to the market growth. Apart from this, needle coke is employed in the manufacturing of specialty carbon, which is gaining traction in the electronics industry as a viscosity control additive for electromagnetic shielding and a semi-conductive cable compound. In line with this, as specialty carbon has excellent tinting strength and dispersibility, it finds extensive usage in the construction industry. This, coupled with the thriving construction industry due to rapid urbanization and renovation of existing infrastructure, is anticipated to drive the market.

Key Market Segmentation

This research provides an analysis of the key trends in each sub-segment of the global needle coke market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on type, grade, application and end use industry.

Breakup by Type:

• Coal-tar Pitch Derived
• Petroleum Derived

Breakup by Grade:

• Intermediate
• Premium
• Super Premium

Breakup by Application:

• Graphite Electrodes
• Silicon Metal and Ferroalloys
• Lithium-ion Battery
• Carbon Black
• Rubber Compounds

Breakup by End Use Industry:

• Aluminum and Steel
• Automotive
• Semiconductor

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Latin America
• Brazil
• Mexico
• Middle East and Africa

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players being Asbury Carbons Inc., C-Chem CO. Ltd (Nippon Steel Corporation), ENEOS Holdings Inc., GrafTech International Ltd., Graphite India Limited, HEG Limited, Mitsubishi Chemical Holdings Corporation, Mott Corporation, Phillips 66 Company, Sojitz Corporation, Sumitomo Corporation and Tokai Carbon Co. Ltd.

Key Questions Answered in This Report

1. What was the size of the global needle coke market in 2022?
2. What is the expected growth rate of the global needle coke market during 2023-2028?
3. What are the key factors driving the global needle coke market?
4. What has been the impact of COVID-19 on the global needle coke market?
5. What is the breakup of the global needle coke market based on the type?
6. What is the breakup of the global needle coke market based on the grade?
7. What is the breakup of the global needle coke market based on the application?
8. What are the key regions in the global needle coke market?
9. Who are the key players/companies in the global needle coke market?