Needle Coke Market Scope
Needle coke is a premium grade, high-value petroleum coke used in the manufacturing of graphite electrodes of very low coefficient of thermal expansion (CTE) for the electric arc furnaces in the steel industry. Only a few companies in the world manufacture needle coke using own proprietary technology. Indian Oil has developed a technology for production of needle coke from low value heavier hydrocarbon streams without any major feed pre-treatment.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Largest Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Nayara Energy Limited (India), GrafTech International Holdings Inc. (United States), Indian Oil Corporation Ltd (India), Reliance Industries Limited (India), Asbury Carbons (United States), Bao-Steel Group (China), Phillips 66 (United States), Seadrift Coke LP (United States), Sinopec (China), SojitzJECT Corporation (Japan) and Mitsubishi Chemical Corporation (Japan) |
CAGR | 5.1% |
Research Analyst at AMA estimates that Chinese and Indian Manufacturers will contribute to the maximum growth of Global Needle Coke market throughout the predicted period.
Nayara Energy Limited (India), GrafTech International Holdings Inc. (United States), Indian Oil Corporation Ltd (India), Reliance Industries Limited (India), Asbury Carbons (United States), Bao-Steel Group (China), Phillips 66 (United States), Seadrift Coke LP (United States), Sinopec (China), SojitzJECT Corporation (Japan) and Mitsubishi Chemical Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are C-Chem (Jiangsu) Needle Coke Technology Co., Ltd. (China) and The Needle Coker Company (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Needle Coke market by Type , by Application (Graphite Electrode, Special Carbon Material, Lithium-Ion Batteries and Others) and Region with country level break-up.
On the basis of geography, the market of Needle Coke has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In 2021, ICC, International Ltd. has announced that it has completed an earlier announced acquisition of Seadrift Coke L.P, the world's second-largest producer of petroleum needle coke, and C/G Electrodes LLC (C/G), a US producer of graphite electrodes. company. and In 2020, Mitsubishi Chemical Holdings Corporation is a wholly owned subsidiary of Mitsubishi Chemical Holdings Asia Pacific Pte. Ltd. (MCHAP), Asia Pacific Regional Representative, Responsible for Risk Management and Compliance.
In 2021, ENEOS Holdings, Inc. and ENEOS-backed U.S.-based startup Ample, Inc. announce business collaboration to launch EV battery replacement service in Japan., In 2020, The National Iranian Oil Refining and Distribution Company and Iranian Mines & Mining Industries Development & Renovation have announced a partnership to develop sponge and needle coke at the two refineries., On 18 Jan 2019, Phillips 66, a leading needle coke company has increased the prices of needle coke by 24%. and Recently, the Supreme Court of India has removed the ban on import of needle cokes, HEG, and Graphite which was imposed on August 17, 2018.
Influencing Trend:
Latest Technological Advancements in the Production of Needle Coke
Market Growth Drivers:
Rapidly Increasing Demand from Steel Manufacturing Industry and Adoption of Steel Recycling
Challenges:
Intense Competition Among Player and High Cost Associated with Needle Coke
Restraints:
The Rising Needle Coke Material Prices
Opportunities:
Growing Graphite Electrodes Demand from Aerospace Industry
Key Target Audience
Needle Coke Manufacturers, Needle Coke Traders/Distributors, Needle Coke Importer/Exporter, Regulatory & Government Bodies, Downstream Vendors, End Users and Others