Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The Global Needle Coke market is emerging owing to the HEV industry and rising awareness of carbon emission
The global needle coke market has the potential to grow with USD 10.2 billion with historical CAGR in the forecast period from 2020-2027. Factors driving the market demand for needle coke are the significant development of the new energy industry, the need for lithium coke materials for needle coke, a high-end raw material, is also continuously increasing. It expected to bolster the market share of the needle coke market.
Needle coke is a high-quality variety of thrived in carbon materials. Its appearance is a silver-gray, metallic luster porous substantial and has a bright, flowing texture. The pores are large but few and slightly oval, and the particles are large. The length-to-width ratio, like a fibrous or needle-like texture, has a lubricating feel and is the raw material for producing high-end carbon products such as ultra-high-power electrodes, unique carbon materials, carbon fibers, and composite materials.
Moreover, with the continuous advancement of supply-side structural reforms and the increasing intensity of domestic environmental supervision, the needle coke market has been in a tightly balanced pattern, and product prices have continued to perform strongly.
Grade overview in the Global Needle Coke Market
Based on the grade, the global needle coke market categorized into Super-premium, Premium-grade, Intermediate-grade. The super-premium grade segment accounted for the largest share in the global needle coke market. Needle coke is an indispensable raw material for the production of ultra-high-power graphite electrodes, anode materials for lithium batteries, nuclear graphite, stealth materials, aerospace, and other high-end industries. The process technology for producing super-premium grade needle coke is entirely comparable to the world-renowned brands. After being put into production, it will completely break the situation that super-premium grade needle coke entirely depends on imports. Needle coke is a product of high-end manufacturing industry with high technology content, high investment threshold, high product quality requirements, and high returns.
Application overview in the Global Needle Coke Market
Based on the application, the global needle coke market classified into Electrode, Silicon metals & ferroalloys, Carbon black, Rubber compounds, Others. The electrode segment has dominated the largest share in the global needle coke market. Needle coke is a high-quality material for manufacturing high-power and ultra-high-power electrodes. The graphite electrode made of needle coke has strong thermal shock resistance, high mechanical strength, excellent oxidation performance, low electrode consumption, and large allowable current density.
Moreover, the development of the steel industry requires a large number of ultra-high-power electrodes and high-power electrodes. Thus, the demand for needle coke used in the production of ultra-high-power electrodes and high-power electrodes is proliferating. Therefore, the electrode segment is propelling the market demand for the global needle coke market in the forecast period from 2020-2027.
Region overview in the Global Needle Coke Market
Based on geography, the global needle coke market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America region is dominating the market share of the global needle coke market. It is mainly due to the rising development and production of needle coke, R&D personnel is increasingly aware of the difficulty of needle coke production, construction of pilot plants to obtain experimental data to guide production. The processing technology of needle coke is continuously improved to meet the increasing demand. Also, needle coke with excellent quality will produce shortly to meet the growing requirements of the steel industry in the North America region.
Global Needle Coke Market: Competitive Landscape
Companies such as Phillips 66, Asbury Carbon Inc., Seadrift Coke L.P., Sumitomo Chemical Company, Mitsubishi Chemical Corp., JXTG Nippon Oil & Energy Corp., Indian Oil Corporation Limited, and others are key players in the global needle coke market.