Pune, India, Aug. 18, 2021 (GLOBE NEWSWIRE) -- As per the findings of the research literature, worldwide needle coke market is projected to register a CAGR of 12% over the forecast period 2021-2027. Escalating demand for lithium-ion batteries and increasing availability of steel scrap especially in China are slated to amplify the industry growth in the forthcoming years. Increasing focus among manufacturers towards producing ultra-high power (UHP) graphite electrodes for steel production is further enhancing the industry outlook.
To help readers gain a truly global perspective of the market, the research piece incorporates a country-level assessment of the key regions, namely, North America, Latin America, Asia Pacific and Europe. Apart from this, the market is also studied from the perspective of product type and application. Proceeding further, invaluable data regarding the major players, emerging contenders, and new entrants are included in the document for a holistic understanding of the competitive landscape.
For the uninitiated, needle coke is utilized as a primary raw material for graphite electrodes in an electric furnace. To elaborate, it is a premium quality, high-value petroleum coke used for producing graphite electrodes of very low coefficient of thermal expansion (CTE) for electric arc furnaces.
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Speaking of the Covid-19 impact, the pandemic has negatively impacted production of graphite electrodes across the globe, in turn, has plummeted the demand for needle coke. This can be largely ascribed to supply chain disruptions due to lockdown, travel and transportation restrictions to curb the spread of the virus.
Geographical landscape:
Key regional contributors to global needle coke industry remuneration are Asia Pacific, Europe, North America, and Latin America. Among these, Asia Pacific currently holds a coveted position in the industry and will continue maintain a strong growth curve in the upcoming years, with China at the forefront.
Presence of large graphite electrode manufacturing facilities and broad market has shaped China into one of the prime consumers and importers of needle coke. The country is the world’s largest steel-producer, accounting for more than half of total global steel output. It produced approximately 996.3 million tonnes of steel in 2019 as compared to 1868.8 million tonnes of total global steel production. In addition, China is the world's largest manufacturer of lithium-ion batteries, indicating a sustained demand for needle coke in the country over the forecast duration.
Competitive landscape:
Major players influencing global needle coke trends are Shandong Jingyang Technology Co. Ltd., Seadrift Coke L.P., PMS Technologies, Phillips 66 Co., Mitsubishi Chemical Corp., Kaifeng Pingmei New Carbon Materials Technology Co. Ltd., and JX Nippon Oil & Gas Exploration Corp. among others.
Experts speculate that increasing additions to production capacity is slated to augment the remuneration potential of businesses in this domain.
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Global Needle Coke Market, by Type (Revenue, USD Billion, 2018-2027)
- Coal-tar Pitch Derived
- Petroleum Derived
Global Needle Coke Market, by Application (Revenue, USD Billion, 2018-2027)
- Lithium-ion Battery
- Graphite Electrodes
- Others
Global Needle Coke Market, by Geography (Revenue, USD Billion, 2018-2027)
North America
- United States
- Canada
Europe
- Germany
- Spain
- United Kingdom
- Italy
- Rest of Europe
Asia Pacific
- India
- China
- Australia
- Japan
- South Korea
- Rest of Asia Pacific
Latin America
- Mexico
- Brazil
Rest of the World
Global Needle Coke Market Competitive Dashboard (Revenue, USD Billion, 2018-2027)
- Shandong Jingyang Technology Co. Ltd.
- Seadrift Coke L.P.
- PMS Technologies
- Phillips 66 Co.
- Mitsubishi Chemical Corp.
- Kaifeng Pingmei New Carbon Materials Technology Co. Ltd.
- JX Nippon Oil & Gas Exploration Corp.
- China National Petroleum Corp.
- C-Chem CO. Ltd.
- Baosteel Group Corp.
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Needle Coke market, by Region, 2019-2027 (USD Billion)
1.2.2. Needle Coke market, by Type, 2019-2027 (USD Billion)
1.2.3. Needle Coke market, by Application, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Needle Coke market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Needle Coke market Dynamics
3.1. Needle Coke market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Increasing demand for lithium-ion batteries
3.1.1.2. Rising availability of steel scrap in China
3.1.2. Market Restraint
3.1.2.1. Impact of COVID-19 pandemic
3.1.3. Market Opportunities
3.1.3.1. Growing demand for graphite electrodes and lithium-ion batteries
Chapter 4. Global Needle Coke market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Needle Coke market, by Type
5.1. Market Snapshot
5.2. Global Needle Coke market by Type , Performance - Potential Analysis
5.3. Global Needle Coke market Estimates & Forecasts by Type 2018-2027 (USD Billion)
5.4. Needle Coke market, Sub Segment Analysis
5.4.1. Petroleum Derived
5.4.2. Coal-tar Pitch Derived
Chapter 6. Global Needle Coke market, by Application
6.1. Market Snapshot
6.2. Global Needle Coke market by Application, Performance - Potential Analysis
6.3. Global Needle Coke market Estimates & Forecasts by Application 2018-2027 (USD Billion)
6.4. Needle Coke market, Sub Segment Analysis
6.4.1. Graphite Electrodes
6.4.2. Lithium-ion Battery
6.4.3. Other Applications
Chapter 7. Global Needle Coke market, Regional Analysis
Related Report:
Petcoke Market Size, Application Potential, Competitive Market Share & Forecast to 2024
Petcoke Market size will exceed USD 25 billion by 2024, as reported in the latest study. Increasing investments toward industrialization across developing economies coupled with growing demand for cost efficient and reliable alternate fuels will drive the global petcoke market size. In 2016, Egypt?s Arabian Cement announced to invest USD 9 million for constructing a petcoke mill with an aim to reduce the overall operating costs by lowering the freight rates of the product. Rapid urbanization with ongoing measures to mitigate carbon emissions will further augment the business landscape. For Europe, Russia petcoke market is projected to exceed 5.5 MMT by 2024. Positive outlook towards steel and aluminum industries along with increasing number of power generating stations will stimulate the product demand. Ongoing modernization and expansion of existing refineries will further complement the industry landscape.
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