Needle Coke Market Analysis

Type (Petroleum-Based, Coal-Based)

Needle coke market from the petroleum-based is anticipated to hold the largest share during the forecast period. The heating value of fuel-grade petroleum is high, which does not generate any ash when burned. The demand for the petroleum-based segment is expected to be boosted due to an increase in steel production for the development of railways, road construction, and automobiles.  The expanding use of petroleum-based coke in a variety of end industries is due to its low ash content and low toxicity. These factors are propelling the growth of the petroleum-based segment.

Application (Graphite Electrodes, Lithium-Ion Battery, Special Carbon Material)

The graphite electrodes segment in the needle coke market is estimated to hold a share of 54.8% by 2037 and is poised to grow rapidly during the forecast period. The demand for graphite electrodes is increasing because they are highly used in the production of steel and other non-ferrous metals. Also, it is used in different types of batteries, e.g. electroplating or electrolysis, and welding, which is likely to accelerate the graphite electrode segment growth. Moreover, the consumption of graphite electrodes has increased for conducting high current at low voltage, a requirement for various melting and alloying processes.

Our in-depth analysis of the global needle coke market includes the following segments: