Needle Coke Market Outlook ( to )
The global needle coke market size to expand at a CAGR of 3.7% and will reach a valuation of US$ 5.86 billion by the end of fro US$ 4.07 billion in .
Zhongsheng supply professional and honest service.
The U.S. accounts for 91.4% of the North American market share, which is the largest market in the world, mainly on the back of technological advancements and high consumption of needle coke by the steel and aluminium industry.
Report Attributes
Details
Needle Coke Market Size (A)
US$ 4 Billion
Estimated Market Value (E)
US$ 4.07 Billion
Forecasted Market Value (F)
US$ 5.86 Billion
Global Market Growth Rate ( to )
3.7% CAGR
North America Market Size ()
US$ 1.4 Billion
North America Growth Rate ( to )
4% CAGR
U.S. Market Growth Rate ( to )
3.9% CAGR
Key Companies Profiled
Mitsubishi Chemical Holding Corporation; Indian Oil Corporation; Phillips 66; JXTG Holdings Inc.; Seadrift Coke L.P.; C-Chem Co., LTD; Petroleum Coke Industries Company K.S.C; Baotailong New Material Co., Ltd.; Bao-steel Group; Sinopec Shanghai Petrochemical Company Limited; Shanxi Hongte Coal Chemical Co Ltd; Sinosteel Anshan Research Institute of Thermo-Energy Co.; Petrochina International Jinzhou Petrochemical Co., Ltd; Shijiazhuang Deli Chemical Co.; Petrocokes Japan Ltd.
Needle cocaine is often referred to as acicular cocaine. It is a highly crystalline petroleum coke used in the production of needle coke electrodes for the aluminium and steel sectors. Needle coke electrodes are valuable as they need to be replaced regularly.
Don't Need a Global Report?
save 40%! on Country & Region specific reports
Worldwide Needle Coke Consumption Analysis ( to ) Vs. Market Forecast Outlook ( to )
Needle coke is the primary raw ingredient used in the aluminium and steel business to make graphite electrodes from arc furnaces. It is a particular type of coke with remarkable structural properties, high electrical resistance, oxidizability, thermal expansion coefficient (CTE), and high-temperature resistance.
Needle coke counts for more than 40% of the raw material costs in the production of graphite electrodes.
In , the needle coke market size was valued at US$ 3.54 billion and increased to US$ 4 billion at the end of expanding at 2.8% CAGR.
Based on type, petroleum-derived needle coke accounted for 56.4% market share at the end of , while coal tar pitch-derived needle coke accounted for the rest.
Where there was an increase in sales in , demand started decreasing from -end due to the outspread of COVID-19 as business cycles were affected.
The global needle coke market is expected to expand at 3.7% CAGR and reach US$ 5.86 billion in valuation by the year .
Because of favourable government policies, fluctuating gas costs, and increased consumer awareness of the need to decrease carbon emissions, the hybrid electric vehicles business has rapid expansion in recent years. This has contributed to a large increase in needle coke demand as well, as it is extensively utilized in the production of synthetic graphite, which is used to make lithium-ion batteries for electric vehicles.
Which Market Opportunities Will Help Needle Coke Producers Increase their Revenue Growth?
'Rising Trend of Electric Vehicles to Drive Consumption of Needle Coke in Batteries'
Electric vehicle adoption was low; although, due to the implementation of many policies to minimise carbon and other emissions, the craze of buying a hybrid electric car is projected to gain traction over the next decade.
This shift in inclination toward hybrid electric vehicles is expected to have a substantial impact on the needle coke industry.
Needle coke can be produced by several methods. Due to the abundance of scrap, steel manufacturing using the electric arc furnace process has increased dramatically in developed countries across Europe and America.
In India, the electric arc furnace technique holds for over 60% of steel production, whereas in the Middle East, the electric arc furnace technique holds for over 90% of steel production. These reasons have resulted in substantial market sales of needle cokes in these furnaces.
'Investments in R&D & Strategic Collaborations'
The needle coke market sales growth will be boosted by changes in the business environment created by rapid technological advancements. A growing number of R&D activities will also help to moderate the market's growth rate.
Furthermore, an increase in strategic partnerships and emerging new marketplaces will function as market drivers, enhancing the industry's growth rate.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more ' Only @ Fact.MR
Which Regional Markets Should Needle Coke Producers Focus On?
'Economic Changes, Technological Advancements, & High Demand from Steel Industry in North America'
The North America needle coke market is expected to account for 35.2% of the global market share. The market for North America is predicted to enjoy a valuation of US$ 1.43 billion in , and further is expected to reach a valuation of US$ 2.12 billion by the year .
Recovery of the North American economy, as well as the expansion of several important end-use industries, is expected to continue to be macro-driving variables for steel production in the economy. The introduction of revolutionary technologies such as the electric-arc furnace (EAF) has accelerated the rise of mini-mills, which boosts demand for needle cokes.
Sales of needle coke in the Europe market are expected to expand at a CAGR of 3.4% from to . The Europe needle coke market is set to enjoy a valuation of US$ 1 billion in and reach US$ 1.39 billion by .
Currently, the Latin American and MEA regional markets are expected to account for 7.2% and 4.2% of the global market share respectively. The market growth is slightly lower than other regions but is expected to expand at a healthy rate during the forecast period.
The Asia Pacific region is expected to emerge as a leading market for needle coke and is expected to account for 28.7% of the global market share in . Emerging economies of the APAC region are boosting market sales growth. China is the biggest producer and supplier of needle cokes.
Country-wise Insights
How is Demand for Needle Coke Evolving across the U.S.?
'Technological Developments Aiding Growth in Demand for Needle Cokes'
The United States market for needle coke is set to enjoy a valuation of US$ 1.31 billion in , and further expand at a CAGR of 3.9% to reach US$ 1.92 billion by the year .
The U.S. needle coke market is expected to account for 90.8% of the North America Market share, in . The presence of key market players and technological advancements are likely to boost needle coke sales in the U.S.
Which Country Leads the Asia Pacific Needle Coke Market?
'High Consumption & Production of Needle Coke in China'
The China needle coke market is currently valued at around US$ 506.7 million, and is anticipated to progress at a CAGR of 4.8% to reach US$ 800 million by . China is the world's largest manufacturer and user of needle cokes.
In the worldwide context, China has the greatest share of consumption and manufacturing capacity of graphite electrodes, indicating the potential for steel production in the country and indicating the market demand throughout the projection period.
Furthermore, China's government is concentrating on developing environmentally friendly steel production methods. A new electric arc furnace capacity of several hundred thousand metric tonnes is already in the works. Electric arc furnaces currently produce around 20% of the steel produced in the country.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Category-wise Insights
Which Needle Grade Coke is Expected to Be Highly Adopted?
'Super Premium Grade Needle Coke Preferred Due to its Low Sulphur Level & Remarkable Inherent Qualities'
Needle grade coke is segmented into intermediate premium, base premium, and super premium types. Currently, the intermediate premium segment is likely to hold 52.7% of the global market share.
While base premium and super premium segments are expected to account for 28.7% and 18.6% of the global market share respectively, in.
Because of its low sulphur level and remarkable inherent characteristics, the super premium grade is commonly used in steel and carbon applications.
The super premium grade has a low coefficient of thermal expansion (CTE) rate, a low puffing rate, and a big particle size, allowing for a 5% increase in steel recycling productivity. These are also the finest grades used in the production of ultra-high power (UHP) graphite electrodes of greater quality.
Which Needle Coke Application is Most Lucrative for Market Players?
'Needle Coke Graphite Electrodes Highly Demanded over Needle Coke Lithium-ion Batteries'
Based on application the needle coke market is segmented into graphite electrodes, lithium-ion batteries, and other applications. Currently, graphite electrodes are expected to account for 54.8% of the global market share.
Needle coke graphite has several qualities, including strong thermal conductivity and heat resistance. It is utilised in tough environments, such as high-temperature environments, and as a result, low thermal expansion coefficients are sought, making it excellent for use as a primary heat source in electric arc furnaces.
At present, needle coke lithium-ion batteries are likely to hold 29.3% of the global market share. Due to consumer demand for natural graphite electrodes over a synthetic product in lithium-ion batteries, needle coke lithium-ion batteries are predicted to expand at a high rate.
One of the major factors driving sales of lithium-ion batteries is the growing popularity of smartphones and other wearable gadgets in the needle coke market.
The other applications are expected to hold 15.9% of the global market share, in .
Why is Petroleum-derived Needle Coke More in Demand than Coal-tar Pitch Needle Coke?
'High Consumption of Petroleum-derived Needle Coke in Steel Industry'
In , petroleum-derived and coal tar pitch-derived needle coke segments are expected to account for 56.5% and 43.5% of the global market share respectively.
The steel industry's demand for synthetic graphite electrodes for Electric Arc Furnaces (EAFs) and lithium-ion battery anode material is driving the demand for petroleum-derived needle cokes.
Coal-tar pitch needle coke is made from coal tar, a by-product of the coke-making process. Because of its good physical-chemical qualities, refined coal-tar needle pitch coke is regarded as a viable material for the manufacturing of needle coke.
Production of needle coke from coal tar pitches has an advantage over petroleum coke in that it is more fragrant and has fewer adverse effects. Needle coke made from coal-based feedstock could outperform needle coke made from petroleum-based feedstock with suitable industrial treatment.
The petroleum needle coke market is expanding rapidly due to its high demand from the steel and aluminium sector for the production of electrodes and they are highly valuable because the electrodes must be changed on regular basis.
Competitive Landscape
Market participants are increasingly investing in research and development activities to create needle coke from low-value heavier hydrocarbon streams that do not require any considerable feed pre-treatment. Needle coke made from low-value heavier hydrocarbon streams can endure temperatures as high as degrees Celsius.
Furthermore, due to high product pricing, companies are increasing their refinery margins. Captive raw material supply has given fully integrated market companies such as Sumitomo Chemical Company, Phillips 66, and Mitsubishi Chemical Corp. a competitive advantage, especially during price changes.
- ICC, International Ltd. stated in November that it has finalised the previously announced acquisition agreement with Seadrift Coke L.P, the world's second-largest producer of petro needle coke, and C/G Electrodes LLC (C/G), a US-based graphite electrode maker.
Key Segments Covered in Needle Coke Industry Research
-
Needle Coke Market by Type :
- Petroleum-derived Needle Coke
- Coal Tar Pitch-derived Needle Coke
-
Needle Coke Market by Grade :
- Intermediate Premium Needle Coke
- Base Premium Needle Coke
- Super Premium Needle Coke
-
Needle Coke Market by Application :
- Graphite Electrodes
- Lithium-ion Batteries
- Other Applications
-
Needle Coke Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
List Of Table
Table 01: Global Market Value (US$ Mn) Analysis, by Type, to
Table 02: Global Market Value (US$ Mn) Analysis, by Type, to
Table 03: Global Market Value (US$ Mn) Opportunity Analysis, by Type, to
Table 04: Global Market Value (US$ Mn) Analysis, by Grade, to
Table 05: Global Market Value (US$ Mn) Analysis, by Grade, to
Table 06: Global Market Value (US$ Mn) Opportunity Analysis, by Grade, to
Table 07: Global Market Value (US$ Mn) Analysis, by Application, to
Table 08: Global Market Value (US$ Mn) Analysis, by Application, to
Table 09: Global Market Value (US$ Mn) Opportunity Analysis, by Application, to
Table 10: Global Market Value (US$ Mn) Analysis, by Region, to
Table 11: Global Market Value (US$ Mn) Analysis, by Region, to
Table 12: Global Market Value (US$ Mn) Opportunity Analysis, by Region, to
Table 13: North America Market Value (US$ Mn) Analysis, by Country, to
Table 14: North America Market Value (US$ Mn) Analysis, by Country, to
Table 15: North America Market Value (US$ Mn) Opportunity Analysis, by Country, to
Table 16: North America Market Value (US$ Mn) Analysis, by Type, to
Table 17: North America Market Value (US$ Mn) Analysis, by Type, to
Table 18: North America Market Value (US$ Mn) Opportunity Analysis, by Type, to
Table 19: North America Market Value (US$ Mn) Analysis, by Grade, to
Table 20: North America Market Value (US$ Mn) Analysis, by Grade, to
Table 21: North America Market Value (US$ Mn) Opportunity Analysis, by Grade, to
Table 22: North America Market Value (US$ Mn) Analysis, by Application, to
Table 23: North America Market Value (US$ Mn) Analysis, by Application, to
Table 24: North America Market Value (US$ Mn) Opportunity Analysis, by Application, to
Table 25: Latin America Market Value (US$ Mn) Analysis, by Country, to
Table 26: Latin America Market Value (US$ Mn) Analysis, by Country, to
Table 27: Latin America Market Value (US$ Mn) Opportunity Analysis, by Country, to
Table 28: Latin America Market Value (US$ Mn) Analysis, by Type, to
Table 29: Latin America Market Value (US$ Mn) Analysis, by Type, to
Table 30: Latin America Market Value (US$ Mn) Opportunity Analysis, by Type, to
Table 31: Latin America Market Value (US$ Mn) Analysis, by Grade, to
Table 32: Latin America Market Value (US$ Mn) Analysis, by Grade, to
Table 33: Latin America Market Value (US$ Mn) Opportunity Analysis, by Grade, to
Table 34: Latin America Market Value (US$ Mn) Analysis, by Application, to
Table 35: Latin America Market Value (US$ Mn) Analysis, by Application, to
Table 36: Latin America Market Value (US$ Mn) Opportunity Analysis, by Application, to
Table 37: Europe Market Value (US$ Mn) Analysis, by Country, to
Table 38: Europe Market Value (US$ Mn) Analysis, by Country, to
Table 39: Europe Market Value (US$ Mn) Opportunity Analysis, by Country, to
Table 40: Europe Market Value (US$ Mn) Analysis, by Type, to
Table 41: Europe Market Value (US$ Mn) Analysis, by Type, to
Table 42: Europe Market Value (US$ Mn) Opportunity Analysis, by Type, to
Table 43: Europe Market Value (US$ Mn) Analysis, by Grade, to
Table 44: Europe Market Value (US$ Mn) Analysis, by Grade, to
Table 45: Europe Market Value (US$ Mn) Opportunity Analysis, by Grade, to
Table 46: Europe Market Value (US$ Mn) Analysis, by Application, to
Table 47: Europe Market Value (US$ Mn) Analysis, by Application, to
Table 48: Europe Market Value (US$ Mn) Opportunity Analysis, by Application, to
Table 49: East Asia Market Value (US$ Mn) Analysis, by Country, to
Table 50: East Asia Market Value (US$ Mn) Analysis, by Country, to
Table 51: East Asia Market Value (US$ Mn) Opportunity Analysis, by Country, to
Table 52: East Asia Market Value (US$ Mn) Analysis, by Type, to
Want more information on Petroleum needle coke manufacturer? Feel free to contact us.
Table 53: East Asia Market Value (US$ Mn) Analysis, by Type, to
Table 54: East Asia Market Value (US$ Mn) Opportunity Analysis, by Type, to
Table 55: East Asia Market Value (US$ Mn) Analysis, by Grade, to
Table 56: East Asia Market Value (US$ Mn) Analysis, by Grade, to
Table 57: East Asia Market Value (US$ Mn) Opportunity Analysis, by Grade, to
Table 58: East Asia Market Value (US$ Mn) Analysis, by Application, to
Table 59: East Asia Market Value (US$ Mn) Analysis, by Application, to
Table 60: East Asia Market Value (US$ Mn) Opportunity Analysis, by Application, to
Table 61: South Asia & Oceania Market Value (US$ Mn) Analysis, by Country, to
Table 62: South Asia & Oceania Market Value (US$ Mn) Analysis, by Country, to
Table 63: South Asia & Oceania Market Value (US$ Mn) Opportunity Analysis, by Country, to
Table 64: South Asia & Oceania Market Value (US$ Mn) Analysis, by Type, to
Table 65: South Asia & Oceania Market Value (US$ Mn) Analysis, by Type, to
Table 66: South Asia & Oceania Market Value (US$ Mn) Opportunity Analysis, by Type, to
Table 67: South Asia & Oceania Market Value (US$ Mn) Analysis, by Grade, to
Table 68: South Asia & Oceania Market Value (US$ Mn) Analysis, by Grade, to
Table 69: South Asia & Oceania Market Value (US$ Mn) Opportunity Analysis, by Grade, to
Table 70: South Asia & Oceania Market Value (US$ Mn) Analysis, by Application, to
Table 71: South Asia & Oceania Market Value (US$ Mn) Analysis, by Application, to
Table 72: South Asia & Oceania Market Value (US$ Mn) Opportunity Analysis, by Application, to
Table 73: MEA Market Value (US$ Mn) Analysis, by Country, to
Table 74: MEA Market Value (US$ Mn) Analysis, by Country, to
Table 75: MEA Market Value (US$ Mn) Opportunity Analysis, by Country, to
Table 76: MEA Market Value (US$ Mn) Analysis, by Type, to
Table 77: MEA Market Value (US$ Mn) Analysis, by Type, to
Table 78: MEA Market Value (US$ Mn) Opportunity Analysis, by Type, to
Table 79: MEA Market Value (US$ Mn) Analysis, by Grade, to
Table 80: MEA Market Value (US$ Mn) Analysis, by Grade, to
Table 81: MEA Market Value (US$ Mn) Opportunity Analysis, by Grade, to
Table 82: MEA Market Value (US$ Mn) Analysis, by Application, to
Table 83: MEA Market Value (US$ Mn) Analysis, by Application, to
Table 84: MEA Market Value (US$ Mn) Opportunity Analysis, by Application, to
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more ' Only @ Fact.MR
Needle Coke Market Size
Share
Want to share this? Click here to share on social media or embed it on your website.
Compare market size and growth of
Needle Coke Market with other markets in Chemicals & Materials Industry
Plastics, Polymers, and Elastomers
Adhesives and Sealants
Commodity Chemicals
Water and Wastewater Treatment
Advanced Materials
Construction Chemicals and Materials
Loading the graph. Please wait.
Interact With Data Points To Access Key Markets In The
Chemicals & Materials Industry
Show Quadrants
Zoom
By Sub-Category
Plastics, Polymers, and Elastomers
Adhesives and Sealants
Commodity Chemicals
Water and Wastewater Treatment
Advanced Materials
Construction Chemicals and Materials
Paints and Coatings
Fine Chemicals
Abrasives
Biobased Chemicals
Ceramics
Chemical Technologies
Electronic Materials
Gels
Industrial Gases
Insulation
Lubricants and Fuel Additives
Metals and Minerals
Specialty Carbon
Specialty Chemicals
Technical Textiles
Wood Derivatives
By Market Size
+ More Filters
Geo Focus
Global
Regional
Country
Growth Rate
Click on data point to dive deeper into the details and uncover valuable insights about each segment.
Thank you!
We've received your request. Our team will be reaching out to you shortly.
Study Period:
CAGR:
Countries/ Region Covered:
Major Players:
Get Free Sample Of This Report
Please enter a valid
Please enter your number
Needle Coke Market Analysis
The Needle Coke Market size is estimated at 2.22 million metric tons in , and is expected to reach 4.49 million metric tons by , at a CAGR of 15.11% during the forecast period (-).
The needle coke industry is experiencing significant transformation driven by the rapid evolution of the electric vehicle (EV) sector and energy storage solutions. Global EV sales demonstrated remarkable growth, reaching 10.5 million units in , representing a 55% increase compared to the previous year. This surge in EV adoption has catalyzed substantial investments in battery manufacturing infrastructure, with major automotive manufacturers and battery producers forming strategic partnerships to establish regional production capabilities. The electronics and IT industry's production value reached USD 3,436.8 billion in , further supporting the demand for high-quality needle coke in various applications.
The manufacturing landscape is witnessing unprecedented expansion through strategic collaborations and facility establishments. In , Ford partnered with CATL to construct a USD 3.5 billion joint venture facility for manufacturing lithium-iron phosphate batteries, while Honda and LG Energy Solution announced plans to establish a new manufacturing facility for lithium-ion batteries in Ohio. These developments reflect the industry's commitment to building robust regional supply chains and reducing dependency on imports. Additionally, Taqat Development Company's announcement to establish a 75,000-ton-per-annum needle coke complex in Rabigh demonstrates the industry's focus on expanding production capabilities.
The battery manufacturing sector has shown remarkable progress in technological advancement and capacity expansion. China's battery industry demonstrated exceptional growth, with new additions in NEVs Li-ion battery capacity totaling 183.8 GWh in , marking a substantial 130.2% increase from the previous year. This growth is complemented by significant developments in other regions, such as India's milestone achievement with Log9's establishment of the country's first indigenous Li-ion battery cell production facility in , marking a significant step toward regional manufacturing capabilities.
The industry is experiencing a notable shift toward sustainable practices and technological innovation in battery production. Global battery usage witnessed a significant uptick, increasing by 72% from to , driven by growing demand from electric vehicles and energy storage applications. This trend has prompted manufacturers to invest in research and development of advanced battery technologies, focusing on improving energy density, reducing costs, and enhancing sustainability. The integration of needle coke in these advanced applications continues to evolve, with manufacturers exploring new formulations and production techniques to meet the increasingly stringent requirements of modern battery systems. The needle coke price trend is also being closely monitored as it impacts the cost dynamics of battery production.
Needle Coke Market Trends
Increasing Investments in EAF Steel Manufacturing
The steel industry is witnessing substantial investments in Electric Arc Furnace (EAF) technology as companies aim to reduce carbon emissions and improve operational efficiency. In November , JFE Steel announced plans to construct a large-scale electric arc furnace at its Kurashiki plant, scheduled for completion by , with the potential to reduce annual emissions by 2.6 million tons. This strategic investment demonstrates the industry's commitment to sustainable steel production through EAF technology. Similarly, HEG Limited expanded its graphite electrode capacity to 100 kilotons per annum in November , with a significant investment of USD 143.741 million, positioning itself as the third-largest graphite electrode company in the Western world.
The growing adoption of EAF technology is driving increased demand for graphite electrodes, which are essential components in the electric arc furnace steelmaking process. These electrodes can withstand extremely high temperatures of up to 1,600°C and possess crucial properties such as high thermal conductivity and low electrical resistance, making them indispensable for melting iron scrap. The manufacturing process of these electrodes is complex and time-intensive, requiring up to six months for processing, including baking and rebaking stages to convert coke into graphite. This sophisticated production process, combined with increasing EAF installations, is creating a robust demand for needle coke, the primary raw material used in graphite electrode manufacturing. The needle coke price trend is a critical factor for manufacturers as it influences production costs and market dynamics.
Understand The Key Trends Shaping This Market
Download PDF
Government Policies to Increase Scrap Steel Consumption
Governments worldwide are implementing supportive policies to promote the use of steel scrap in manufacturing processes, particularly through EAF technology. The Indian government has taken significant steps by eliminating customs duty on scrap imports, directly benefiting EAF steel manufacturers and encouraging the transition to more sustainable production methods. These policy initiatives are complemented by broader environmental regulations that favor electric arc furnace technology over traditional blast furnaces, as EAFs rely primarily on steel scrap and electricity, making them more environmentally sustainable.
Chinese authorities are actively promoting Electric Arc Furnace technology as a cornerstone of their environmental strategy in the steel industry. The government's focus on developing eco-friendly means of steel production has led to supportive national policies that encourage the adoption of EAF technology. This transition is particularly significant as it aligns with the country's broader environmental goals and sustainable development initiatives. The policy framework not only supports the increased use of steel scrap but also creates a favorable environment for investments in EAF technology, which in turn drives the demand for graphite electrodes and, consequently, needle coke. This policy-driven transformation is reshaping the industry landscape, with graphite electrode manufacturers expanding their production capabilities to meet the growing demand from EAF operators. Additionally, the use of premium coke and specialty coke in the production process is gaining attention, further influencing market trends.
Segment Analysis: Product Type
Petroleum-Based Segment in Needle Coke Market
The petroleum needle coke segment dominates the global needle coke market, commanding approximately 84% of the total market share in . This segment's prominence is attributed to the easier availability and processing of petroleum-based raw materials compared to other alternatives. The segment has maintained its leadership position due to its extensive application in manufacturing graphite electrodes and lithium-ion battery anodes. Petroleum needle coke is produced from either petroleum oil (light/heavy crudes), petroleum residue products, or petroleum by-products during petroleum oil refining. The segment is experiencing robust growth with an expected growth rate of around 15% from to , driven by increasing investments in EAF steel manufacturing and the rapidly expanding lithium-ion battery industry. The growth is further supported by the rising adoption of electric vehicles globally and the subsequent demand for high-quality needle coke in battery production.
Coal-Tar Pitch-Based Segment in Needle Coke Market
The coal-tar pitch-based segment represents a smaller but significant portion of the needle coke market. This segment offers unique advantages such as excellent physical properties, including a low coefficient of thermal expansion, low electric resistance, and reduced spalling and breakage compared to petroleum-based alternatives. Coal-based needle coke is derived from coal tar pitch, a by-product of coking metallurgical coal for blast-furnace steelmaking. The segment faces certain challenges in production, including the need to remove primary quinoline insoluble matter and address the stability of nitrogen heterocyclics in the coke matrix. Despite these challenges, the segment maintains its importance in specific high-performance applications where its superior physical properties are essential.
Segment Analysis: Application
Graphite Electrodes Segment in Needle Coke Market
The graphite electrodes segment continues to dominate the global needle coke market, commanding approximately 66% of the total market share in . This significant market position is primarily driven by the increasing adoption of electric arc furnace (EAF) technology in steel manufacturing worldwide. The segment's dominance is further strengthened by major steel producers investing in new EAF facilities and expanding their existing capacities. For instance, ArcelorMittal's investment in new EAF facilities and Liberty Steel's construction of electric arc furnaces demonstrate the growing preference for this technology. Additionally, various government initiatives promoting the use of EAF technology for reducing carbon emissions in steel production have contributed to the segment's market leadership. The segment's robust performance is also supported by the superior properties of needle coke-based graphite electrodes, including high thermal conductivity, excellent resistance to heat and impact, and low electrical resistance, making them essential for steel manufacturing applications.
Lithium-Ion Batteries Segment in Needle Coke Market
The lithium-ion batteries segment is emerging as the fastest-growing application in the needle coke market, projected to grow at approximately 22% during -. This remarkable growth is primarily fueled by the exponential rise in electric vehicle adoption globally and increasing investments in battery manufacturing facilities. Major automotive manufacturers and battery producers are establishing new production facilities and expanding existing ones to meet the surging demand. For example, CATL's significant investment in battery production expansion projects and Ford's collaboration for Li-iron phosphate battery manufacturing demonstrate the segment's growth potential. The segment's growth is further accelerated by government initiatives supporting electric vehicle adoption and battery manufacturing, such as the United States' National Blueprint for Lithium Batteries - and various European countries' investments in battery production facilities. The increasing focus on energy storage solutions and the growing consumer electronics market are also contributing to the segment's rapid expansion.
Remaining Segments in Application Segmentation
The other applications segment in the needle coke market, while smaller in market share, plays a crucial role in diverse industrial applications. This segment primarily includes specialty coke products used in semiconductor manufacturing equipment, solar power generation, and nuclear power core materials. The growing technological advancements in semiconductor manufacturing and increasing investments in solar power infrastructure are driving demand in this segment. The segment also serves various advanced manufacturing applications, particularly in research fields and nuclear plants, where graphitized coke materials are essential for separating fusion and fission materials from coolants. The expansion of semiconductor manufacturing facilities and growing investments in renewable energy infrastructure continue to create new opportunities for needle coke applications in these specialized sectors.
Needle Coke Market Geography Segment Analysis
Needle Coke Market in Asia-Pacific
The Asia-Pacific region dominates the global needle coke market, driven by significant investments in electric arc furnace (EAF) steel manufacturing and rapid growth in lithium-ion battery production. China leads the regional needle coke market with extensive manufacturing capabilities, followed by Japan, India, and South Korea. The region's growth is supported by government initiatives promoting electric vehicle adoption, increasing steel production through EAF technology, and expanding battery manufacturing facilities. Countries across the region are investing heavily in research and development while focusing on technological advancements in both steel and battery sectors.
Needle Coke Market in China
China maintains its position as the largest needle coke market in Asia-Pacific, commanding approximately 78% of the regional market share. The country's dominance is attributed to its extensive steel manufacturing infrastructure and rapidly growing electric vehicle battery sector. China's needle coke industry benefits from strong government support through policies like the 'Fourteenth Five-Year Plan for Industrial Green Development' and the 'Efficient Resource Utilisation Promotion Project'. The country's leadership in graphite electrode production and its position as the world's largest steel producer through EAF technology continue to drive market growth. Additionally, China's near monopoly in the lithium-ion batteries market strengthens its position in the needle coke industry.
Growth Dynamics in Chinese Needle Coke Market
China is projected to maintain the highest growth rate in the Asia-Pacific region, with an expected CAGR of approximately 15% from -. This exceptional growth is driven by aggressive expansion in the electric vehicle battery sector and increasing adoption of EAF technology in steel production. The country's battery manufacturing sector is witnessing unprecedented growth with major players like CATL expanding their production capacities. The government's commitment to achieving carbon neutrality and promoting sustainable manufacturing practices further supports this growth trajectory. China's strategic initiatives in both the steel and battery sectors continue to create robust demand for needle coke.
Needle Coke Market in North America
The North American needle coke market demonstrates strong growth potential, characterized by technological advancement and an increasing focus on sustainable manufacturing practices. The United States dominates the regional landscape, followed by Canada and Mexico. The region's market is primarily driven by the expanding electric vehicle sector and the growing adoption of EAF technology in steel production. Government initiatives supporting domestic battery production and steel industry modernization are creating favorable conditions for market growth across all three countries.
Needle Coke Market in United States
The United States maintains its position as the largest needle coke market in North America, holding approximately 91% of the regional market share. The country's market leadership is supported by its advanced manufacturing capabilities and strong presence in both steel and battery sectors. The implementation of the National Blueprint for Lithium Batteries - and various government initiatives promoting domestic battery production has strengthened the market position. The country's extensive EAF steel production infrastructure and growing investments in battery manufacturing facilities continue to drive market growth.
Growth Dynamics in United States Needle Coke Market
The United States is expected to maintain the highest growth rate in North America, with a projected CAGR of approximately 10% from -. This growth is primarily driven by increasing investments in electric vehicle battery manufacturing and the expansion of EAF steel production facilities. The country's focus on developing domestic battery supply chains and reducing dependency on imports is creating new opportunities for needle coke manufacturers. The implementation of the Inflation Reduction Act and other supportive policies is expected to further accelerate market growth.
Needle Coke Market in Europe
The European needle coke market is characterized by a strong focus on sustainable manufacturing and technological innovation. Germany leads the market, followed by Italy, France, and the United Kingdom. The region's transition towards electric vehicles and green steel production is driving market growth. The European Union's emphasis on developing domestic battery production capabilities and reducing carbon emissions in the steel industry is creating new opportunities for market expansion.
Needle Coke Market in Germany
Germany maintains its position as the largest needle coke market in Europe, driven by its robust automotive industry and strong presence in steel manufacturing. The country's leadership in industrial technology and commitment to sustainable manufacturing practices have established it as a key market. Germany's strategic focus on electric vehicle production and battery manufacturing, coupled with its advanced steel industry, continues to drive market growth.
Growth Dynamics in German Needle Coke Market
Germany demonstrates the strongest growth potential in the European region, supported by its aggressive expansion in electric vehicle battery production and steel industry modernization. The country's commitment to reducing carbon emissions and promoting sustainable manufacturing practices is driving the adoption of EAF technology. Significant investments in battery manufacturing facilities and the development of green steel production capabilities are creating sustained demand for needle coke.
Needle Coke Market in South America
The South American needle coke market is developing steadily, with Brazil emerging as both the largest and fastest-growing market in the region, followed by Argentina. The region's market growth is primarily driven by the modernization of steel manufacturing facilities and emerging opportunities in the electric vehicle battery sector. While the market currently represents a smaller share of global consumption, increasing investments in EAF technology and a growing focus on electric vehicle production are creating new growth opportunities.
Needle Coke Market in Middle East & Africa
The Middle East & Africa needle coke market is experiencing steady growth, with Saudi Arabia emerging as both the largest and fastest-growing market, followed by South Africa. The region's market is primarily driven by investments in steel manufacturing infrastructure and a growing focus on diversifying industrial capabilities. Government initiatives promoting industrial development and increasing adoption of EAF technology in steel production are creating new opportunities for market expansion.
Get Analysis on Important Geographic Markets
Download PDF
Needle Coke Industry Overview
Top Companies in Needle Coke Market
The needle coke market is led by established players like Phillips 66 Company, Liaoning Baolai Bioenergy, China National Petroleum Corporation (CNPC), and Shandong Yida Rongtong Trading Co., who have built strong manufacturing capabilities and distribution networks. Companies are focusing on technological advancements in production processes to improve product quality and meet the growing demand from electric vehicle battery and steel manufacturing sectors. Strategic expansions through capacity additions, particularly in the Chinese market, have reshaped market dynamics and competitive positions. Players are increasingly pursuing vertical integration strategies to secure raw material supply and optimize costs, while also investing in R&D for developing specialized grades of needle coke. The industry has witnessed a shift toward long-term agreements with key consumers to ensure steady supply chains and maintain market positions.
Consolidated Market with Strong Regional Players
The global needle coke market exhibits a highly consolidated structure outside China, dominated by multinational corporations with integrated operations across the value chain. These established players leverage their technological expertise, extensive distribution networks, and long-standing relationships with end-users to maintain their market positions. The Chinese market segment presents a different dynamic, with numerous domestic manufacturers actively expanding their production capacities and gradually increasing their global market presence. The industry has witnessed strategic mergers and acquisitions, such as the absorption-type merger between Nippon Steel Chemical & Material Co. Ltd and C-Chem, indicating a trend toward consolidation to achieve operational synergies and market expansion.
The competitive landscape is characterized by a mix of specialized needle coke manufacturers and diversified chemical conglomerates that have integrated needle coke production into their broader portfolio. Major players are continuously investing in capacity expansions and technological upgrades to meet the increasing demand from growing end-use industries. The market has seen limited new entrants due to high capital requirements, technical expertise needs, and the importance of established supply chain relationships, contributing to the maintained positions of incumbent players.
Innovation and Sustainability Drive Future Success
Success in the needle coke market increasingly depends on companies' ability to develop high-quality products while maintaining cost competitiveness through operational efficiency. Manufacturers are focusing on developing specialized grades of needle coke to meet the specific requirements of emerging applications in electric vehicle batteries and advanced carbon materials. The ability to secure stable raw material supply through vertical integration or strategic partnerships has become crucial for maintaining competitive advantage. Companies are also investing in sustainable production processes and environmental compliance to address growing regulatory pressures and changing customer preferences.
Market participants must navigate the challenges of end-user concentration in the steel and battery industries while developing strategies to mitigate substitution risks from alternative materials. Future success will depend on building strong technical capabilities, establishing efficient distribution networks, and maintaining close relationships with key customers. Companies entering or expanding in the market need to focus on differentiation through product quality, technical support, and service reliability. The increasing focus on environmental regulations and sustainability goals will require continued investment in cleaner production technologies and sustainable practices, potentially creating new opportunities for innovation and market differentiation. The development of premium coke as a specialized product could also provide a competitive edge in meeting specific industry needs.
Needle Coke Market Leaders
-
Phillips 66 Company
-
China National Petroleum Corporation (CNPC)
-
Shandong Yida Rongtong Trading Co.
-
Shandong Jing Yang Technology Co. Ltd
-
Mitsubishi Chemical Corporation
-
*Disclaimer: Major Players sorted in no particular order
Need More Details on Market Players and Competiters?
Download PDF
Needle Coke Market News
' January : CNPC hoisted and docked the top tower of the 400,000 tons/year of needle coke at the construction site in Jinzhou, China. The project is likely to be completed in the coming years.
' December : Gazprom Neft announced its plans to launch a project to produce needle coke in its Omsk refinery, which will be utilized in manufacturing Li-ion batteries and graphite electrodes. This project is expected to be completed by .
' December : POSCO Chemical announced the agreement with Ultium Cells LLC to supply graphite anode material for the expansion of EV battery cells in the United States. In POSCO Chemical, the entire product was sourced from needle coke.
Needle Coke Market Report - Table of Contents
1. INTRODUCTION
-
1.1 Study Assumptions
-
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
-
4.1.1 Increasing Investments in EAF Steel Manufacturing
-
4.1.2 Government Policies to Increase Scrap Steel Consumption
-
4.2 Restraints
-
4.2.1 Health Hazards Associated with Petroleum Coke
-
4.3 Industry Value-Chain Analysis
-
4.4 Industry Attractiveness - Porter's Five Forces Analysis
-
4.4.1 Bargaining Power of Suppliers
-
4.4.2 Bargaining Power of Buyers
-
4.4.3 Threat of New Entrants
-
4.4.4 Threat of Substitute Products and Services
-
4.4.5 Degree of Competition
-
4.5 Price Overview
5. MARKET SEGMENTATION (Market Size in Volume)
-
5.1 Product Type
-
5.1.1 Petroleum Based
-
5.1.2 Coal-tar Pitch Based
-
5.2 Application
-
5.2.1 Graphite Electrodes
-
5.2.2 Lithium-ion Batteries
-
5.2.3 Other Applications
-
5.3 Geography
-
5.3.1 Asia-Pacific
-
5.3.1.1 China
-
5.3.1.2 India
-
5.3.1.3 Japan
-
5.3.1.4 South Korea
-
5.3.1.5 Rest of Asia-Pacific
-
5.3.2 North America
-
5.3.2.1 United States
-
5.3.2.2 Canada
-
5.3.2.3 Mexico
-
5.3.3 Europe
-
5.3.3.1 Germany
-
5.3.3.2 United Kingdom
-
5.3.3.3 Italy
-
5.3.3.4 France
-
5.3.3.5 Rest of Europe
-
5.3.4 South America
-
5.3.4.1 Brazil
-
5.3.4.2 Argentina
-
5.3.4.3 Rest of South America
-
5.3.5 Middle East and Africa
-
5.3.5.1 Saudi Arabia
-
5.3.5.2 South Africa
-
5.3.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
-
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
-
6.2 Market Share (%) Analysis
-
6.3 Strategies Adopted by Leading Players
-
6.4 Company Profiles
-
6.4.1 Baosteel Group
-
6.4.2 China National Petroleum Corporation (CNPC)
-
6.4.3 China Petroleum & Chemical Corporation (Sinopec)
-
6.4.4 Indian Oil Corporation
-
6.4.5 Liaoning Baolai Bioenergy Co., Ltd.
-
6.4.6 Mitsubishi Chemical Corporation
-
6.4.7 Nippon Steel Corporation
-
6.4.8 Phillips 66
-
6.4.9 Posco Mc Materials
-
6.4.10 Seadrift Coke LP (Graftech International)
-
6.4.11 Shandong Dongyang Technology Co. Ltd
-
6.4.12 Shandong Yida New Materials Co. Ltd
-
6.4.13 Shanxi Hongte Coal Chemical Co. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
-
7.1 Lithium-ion Batteries to Boost the Demand for Needle Coke
**Subject to Availability
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now
Needle Coke Industry Segmentation
Needle coke is a high-quality carbon raw material produced from coal tar and petroleum. It is generally formed as highly crystalline graphene-like carbons exhibiting long-range microstructural order with few impurities and a low coefficient of thermal expansion. It is primarily used for the manufacturing of graphite electrodes and lithium-ion batteries.
The needle coke market is segmented by product type, application, and geography. By type, it is divided into petroleum-based and coal-tar pitch-based. By application, it is divided into graphite electrodes, lithium-ion batteries, and other applications. The report also covers the market sizes and forecasts for the needle coke market in 15 countries across major regions. For each segment, the market sizing and forecasts were made on the basis of volume (kilotons).
Product Type
Petroleum Based
Coal-tar Pitch Based
Application
Graphite Electrodes
Lithium-ion Batteries
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa
Need A Different Region or Segment?
Customize Now
Needle Coke Market Research Faqs
How big is the Needle Coke Market?
The Needle Coke Market size is expected to reach 2.22 million metric tons in and grow at a CAGR of 15.11% to reach 4.49 million metric tons by .
What is the current Needle Coke Market size?
In , the Needle Coke Market size is expected to reach 2.22 million metric tons.
Who are the key players in Needle Coke Market?
Phillips 66 Company, China National Petroleum Corporation (CNPC), Shandong Yida Rongtong Trading Co., Shandong Jing Yang Technology Co. Ltd and Mitsubishi Chemical Corporation are the major companies operating in the Needle Coke Market.
Which is the fastest growing region in Needle Coke Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (-).
Which region has the biggest share in Needle Coke Market?
In , the Asia Pacific accounts for the largest market share in Needle Coke Market.
What years does this Needle Coke Market cover, and what was the market size in ?
In , the Needle Coke Market size was estimated at 1.88 million metric tons. The report covers the Needle Coke Market historical market size for years: , , , , and . The report also forecasts the Needle Coke Market size for years: , , , , and .
Needle Coke Market Research
Mordor Intelligence provides a comprehensive analysis of the needle coke industry, drawing on our extensive experience in industrial materials research. Our expert analysts offer detailed insights into petroleum needle coke production, premium coke manufacturing, and specialty coke applications. The report examines global production capacity, consumption patterns, and emerging applications across key regions. Particular attention is given to calcined needle coke processing technologies.
Our detailed needle coke market analysis offers stakeholders crucial insights into industry dynamics. This includes price trends for needle coke and supply-demand scenarios. The report, available as an easy-to-download PDF, provides actionable intelligence for manufacturers, suppliers, and end-users. This enables informed decision-making in this rapidly evolving sector. Our analysis covers production technologies, regulatory frameworks, and competitive strategies, delivering essential information for business planning and strategic positioning.
If you want to learn more, please visit our website Graphite Heating Rod.
Comments
0