Needle Coke Market Share

APAC Market Forecast

The needle coke market in the Asia Pacific to hold a share of 54% by 2037 and is expected to grow during the forecast period.  In the global scenario, China accounted for more than 70 % in terms of consumption and capacity to produce graphite electrodes which means that steel production is now feasible within this country. This further shows that in the forecast period there will be an increasing demand for needle coke. Besides this, China's government is also trying to develop eco-friendly production methods for steel. Among the major producers are Japan, as well as an exporter of petroleum and coal tar-based pitch needle coke. Therefore, countries such as China and Japan are bolstering the needle coke market growth in the region.

North American Market Statistics

North America needle coke market is estimated to grow with a CAGR of 7% over the forecast period owing to the increasing development and production of competent and reasonable electric vehicle battery systems. Currently, approximately 7 % of US adults have an electric or hybrid vehicle and 39% are likely to actively consider the purchase of such a vehicle.