Needle Coke Market Outlook:
Needle Coke Market size is valued at USD 5.53 billion in 2025 and is expected to grow to USD 13.03 billion by 2036, registering a CAGR of 7.68% during the forecast period, i.e., 2026-2036. In 2026, the industry size of needle coke is estimated at USD 6.21 billion.
The primary growth driver of the global needle coke market is the rapid expansion of the electric vehicle (EV) industry, which directly increases demand for high-purity graphite materials used in lithium-ion battery anodes. According to the International Energy Agency, global electric car sales exceeded 17 million in 2024, representing more than 20 % of all new car sales worldwide and a year-on-year growth of over 25%. Needle coke is essential for producing synthetic graphite anodes, which enhance battery energy density, charging efficiency, and cycle life—key performance factors for EV adoption. As EV production scales, so does needle coke consumption, with battery applications becoming one of the fastest-growing segments of the market alongside traditional uses such as graphite electrodes for steelmaking. Supportive clean-energy policies and rising EV penetration further reinforce this trend, positioning electrification of transport as the foremost catalyst for needle coke demand.
