CHICAGO, UNITED STATES, August 25, 2023/EINPresswire.com/ -- The global 𝐧𝐞𝐞𝐝𝐥𝐞 𝐜𝐨𝐤𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 generated revenue of 𝐔𝐒$ 𝟑,𝟔𝟑𝟔.𝟒 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟐 and is estimated to surpass the valuation of 𝐔𝐒$ 𝟔,𝟕𝟐𝟏.𝟏 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏, growing at a 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟕.𝟎𝟕% during the forecast period from 𝟐𝟎𝟐𝟑 𝐭𝐨 𝟐𝟎𝟑𝟏.

𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/needle-coke-market

Over the years, there has been significant expansion in the needle coke market, and this trend is continuing. The needle coke market had a huge production capacity of roughly 3,250 kt/a as of 2021, demonstrating the scope and significance of this important commodity. China is undoubtedly the highest producer of needle coke, dominating the market. China supplies 68.9% of the world's manufacturing capacity, or over 2,240 kt/a, of production capacity.

Given that lithium-ion batteries and steel are both produced using needle coke, the growing production of batteries and steel will drive the market growth. For instance, the World Steel Association estimates that in the month of February 2023, 63 countries produced 142.4 million metric tons (Mt) of crude steel. The Middle East generated 3.5 million metric tons of crude steel in February 2023. When compared to the same period in 2022, this was up 11.5%.

Additionally, needle coke is a raw material for the graphite electrodes in an electric furnace, which is predicted to increase demand for it in the coming years. About 70% of the production of graphite electrodes' input costs are made up of needle coke. China is the world's leading producer and consumer of graphite electrodes. The graphite electrodes generated sales of about 72% in 2022.

The widespread use of electric vehicles has increased the need for lithium-ion batteries, which is a key driver of market growth. The International Energy Agency (IEA) data shows that more than 10 million electric vehicles were sold globally in 2022, and sales of these vehicles are anticipated to increase by another 35% this year to reach 14 million.

𝐆𝐫𝐚𝐩𝐡𝐢𝐭𝐞 𝐄𝐥𝐞𝐜𝐭𝐫𝐨𝐝𝐞 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐞𝐝 𝐌𝐨𝐫𝐞 𝐓𝐡𝐚𝐧 𝐇𝐚𝐥𝐟 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐡𝐚𝐫𝐞

The graphite electrode category accounted for more than 72% of total revenue as of 2022. This clearly shows the importance of graphite electrodes in needle coke. The segment is likely to grow at a CAGR of 7.28% during the projection period.

The demand for needle coke is expected to rise in the upcoming years due to the fact that it is a necessary raw material for graphite electrodes in an electric furnace. Needle coke accounts for about 70% of the input expenses in the production of graphite electrodes. The world's largest manufacturer and consumer of graphite electrodes is China.

The Bureau of International Recycling estimates that China recycled roughly 226.2 million tons of steel scrap for use in the production of steel. Additionally, the increasing supply of steel scrap in China demonstrates the rising demand for needle coke, which is used to make graphite electrodes.

During the forecast period, the aforementioned factors are likely to have an impact on the demand for needle coke for use in graphite electrodes.

𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐂𝐚𝐩𝐭𝐮𝐫𝐞 𝐀𝐛𝐨𝐮𝐭 𝟔𝟎% 𝐨𝐟 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐡𝐚𝐫𝐞

The Asia Pacific region hold a lion's share of more than 60% of the market revenue in 2022. The region is responsible for around 70% of the world's production of needle coke, solidifying its status as the market's global hub. China is the driving force behind this extraordinary output, with major contributions also coming from Japan, South Korea, and India.

China dominates the worldwide graphite electrode market in terms of consumption and manufacturing capacity, opening up opportunities for the nation's steel industry. As an illustration, China's steel production grew to 91100 thousand tons in June 2023 from 90100 thousand tons in May. This highlights the market's rising demand for needle coke during the anticipated period. The Chinese government is likewise concentrating on creating environmentally friendly steel production methods. There are already plans for an electric arc furnace with a new capacity of several hundred thousand metric tons.

One of the top producers and exporters of coal tar- and petroleum-based pitch needle coke is Japan. Showa Denko, Nippon Carbon, SEC Carbon, and Tokai Carbon are some of the industry leaders in graphite electrodes. Based on the aforementioned factors, the Asia Pacific region is predicted to rule the global market.

𝐓𝐨𝐩 𝟕 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐭𝐨 𝐂𝐨𝐧𝐭𝐫𝐨𝐥 𝟑𝟓% 𝐨𝐟 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐡𝐚𝐫𝐞

Astute Analytica discovered that the needle coke market is very concentrated after doing more research. Seven major companies control about 35% of the global market. This denotes substantial entry barriers and emphasizes the magnitude and funding needed to enter the manufacture of needle coke.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐌𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/industry-report/needle-coke-market

The steel business, the expanding graphite battery sector, and the constantly changing electronics industry are the main consumers of needle coke. Due to their heavy reliance on needle coke, these industries have rising demand, which benefits suppliers.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬

• NIPPON STEEL Chemical & Material Co., Ltd.
• Mitsubishi Chemical Holdings Corporation
• Sumitomo Chemical Co., Ltd.
• Asahi Kasei Corporation
• Sojitz JECT Corporation
• Tokai Carbon Co., Ltd.
• Mitsui Chemicals Inc.
• Other Prominent Players

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐮𝐭𝐥𝐢𝐧𝐞

𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐧𝐞𝐞𝐝𝐥𝐞 𝐜𝐨𝐤𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐟𝐨𝐜𝐮𝐬𝐞𝐬 𝐨𝐧 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐓𝐲𝐩𝐞, 𝐆𝐫𝐚𝐝𝐞, 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧, 𝐄𝐧𝐝 𝐔𝐬𝐞𝐫, 𝐚𝐧𝐝 𝐑𝐞𝐠𝐢𝐨𝐧.

𝐁𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐓𝐲𝐩𝐞

Needle Coke
• Coal based
• Petroleum-based
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o Rotary kiln
• Carbon Materials
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o Fullerene
o Others (Graphite, Carbon Fibre, Carbon Nanotube, Carbon Black, Activated Carbon and Diamond)
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• Lithium-Ion Anode
• Carbon Black
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𝐁𝐲 𝐄𝐧𝐝 𝐔𝐬𝐞𝐫
• Automotive
• Aluminum & Steel
• Semiconductor
• Others
𝐁𝐲 𝐑𝐞𝐠𝐢𝐨𝐧
• North America
o The U.S.
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• Europe
o Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
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o Poland
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o Rest of Eastern Europe
• Asia Pacific
o China
o India
o Japan
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o Australia & New Zealand
o Rest of APAC
• Middle East & Africa (MEA)
o UAE
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o South Africa
o Rest of MEA
• South America
o Argentina
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o Bolivia
o Paraguay
o Rest of South America

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/needle-coke-market

𝐀𝐛𝐨𝐮𝐭 𝐀𝐬𝐭𝐮𝐭𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐚:

Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.

They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.

Aamir Beg
Astute Analytica
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