Needle Coke Market by Type (Coal-Tar Pitch Derived, Petroleum Derived), Grade (Intermittent Grade, Premium Grade, Super-Premium Grade), Application, End-Use - Global Forecast 2024-2030
The Needle Coke Market size was estimated at USD 4.32 billion in 2023 and expected to reach USD 4.69 billion in 2024, at a CAGR 8.82% to reach USD 7.81 billion by 2030.
Needle coke is a type of carbon material characterized by its needle-like structure, which gives it its name. It is a highly crystalline form of petroleum coke or coal tar pitch used primarily in manufacturing graphite electrodes, essential for electric arc furnaces in the steelmaking process. The global expansion in needle coke use is primarily driven by the burgeoning EAF steel manufacturing as economies push towards recycling steel scrap to meet sustainability targets. Additionally, the soaring demand for electric vehicles (EVs), which rely on lithium-ion batteries, significantly bolsters the need for needle coke. Variations in crude oil prices and limited availability of decant oil and the raw material for needle coke indirectly affect demand. A significant shift towards sustainable and renewable energy sources and adopting stricter environmental regulations may stimulate the utility of higher-grade electrode materials, where needle coke is indispensable. Moreover, increasing investments in alternative energy sources and advancements in battery technology portray opportunities for the future use of needle coke in battery anodes.
Regional Insights
The needle coke market in the Americas is characterized by a steady demand primarily due to the thriving steel industries and growing lithium-ion battery manufacturing, particularly in the United States. The U.S. holds a major position in the market because of the presence of key needle coke manufacturers and the adoption of electric arc furnaces (EAF), which utilize graphite electrodes made from needle coke. The Asia-Pacific region is expected to grow the needle coke market substantially. China is the dominant player due to its massive steel industry and the burgeoning electric vehicle (EV) sector. Both these industries are key consumers of needle coke for producing graphite electrodes and lithium-ion batteries, respectively. India, Japan, and South Korea are notable markets, with growth driven by technological innovations and increasing manufacturing capacities. The needle coke market in the EMEA region exhibits a diversified market, with Europe being at the forefront in terms of demand for needle coke, especially due to the steel and automotive sectors. The European market is mature, focusing on sustainable and eco-friendly manufacturing processes. The Middle East is an emerging market with growth potential. Africa is still developing with limited production capacities but could evolve as a future market owing to its developing industries and potential untapped resources.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Needle Coke Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Surge in demand for graphite electrodes from the automotive and aerospace industry
- Expanding use of semiconductors in electronic devices and equipment
- Market Restraints
- Quality limitations of needle coke across industries
- Market Opportunities
- Significant shift toward sustainable and renewable energy sources
- Rising number of research and development projects for needle coke
- Market Challenges
- Issues associated with complex production of needle coke
- Market Segmentation Analysis
- Type: Growing demand coal-tar pitch derived needle coke in the steel industry
- Grade: Significant preference for premium grade needle coke in the production of high-quality graphite electrodes
- Application: Increasing preference for needle coke stems from its high crystallinity and purity for lithium-ion batteries
- End-Use: Rising utilization of high-quality needle coke across aluminum & steel industries
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Needle Coke Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Needle Coke Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- Graphite One Delivers Synthetic Graphite Material Key to Accelerating its Path to Anode Material Production
Graphite One Inc. made significant strides in producing advanced synthetic graphite anode materials tailored to the evolving needs of the lithium-ion battery industry. The company successfully distributed samples of its synthetic anode products to United States-based global end-users for comprehensive evaluation. These samples are engineered to cater to specific market requirements, including an anode boasting a high energy capacity exceeding 360 mAh/g, another optimized for rapid charging capabilities surpassing 4C, and a third designed for sustained performance with a lifespan of over 6,000 cycles.
Epsilon Advanced Materials to build USD 650 Million graphite anode facility in North Carolina
Epsilon Advanced Materials announced a strategic investment of USD 650 million to construct a state-of-the-art graphite anode facility in North Carolina. This plant is slated to commence production of high-capacity anode materials in 2026, with a forecasted capacity sufficient to supply the electric vehicle (EV) batteries of over 1.1 million EVs by the decade's end. The manufacturing process is expected to incorporate cutting-edge green technologies, underscoring Epsilon's commitment to environmentally friendly practices in the rapidly expanding EV market.
TMS International Partnering with Nippon Carbon as North American Distributor of Graphite Electrodes
TMS International solidified its position within the North American market through an exclusive partnership with Nippon Carbon Co., Ltd, becoming the sole distributor of premium graphite electrodes. The partnership reflects TMS's dedication to excellence and an unwavering commitment to customer satisfaction, accelerating the company's trajectory toward sustained growth.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Needle Coke Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Needle Coke Market, highlighting leading vendors and their innovative profiles. These include Anovion LLC, Asbury Carbons Inc, BP PLC, Chevron Lummus Global LLC, China Baowu Steel Group Corp., Ltd., China Petroleum & Chemical Corporation, ENEOS Holdings, Inc., Fangda Carbon New Material Co.,Ltd, Gautam Zen International P Ltd, GrafTech International Ltd., Graphite India Limited, HEG Limited, Indian Oil Corporation Limited, John Wood Group PLC, Marathon Petroleum Corporation, Mitsubishi Chemical Corporation, Mott Corporation, NIPPON STEEL Chemical & Material CO., LTD., Petroleum Coke Industries Company, Phillips 66 Company, POSCO M&C Materials Co., Ltd., Rain Carbon Inc., Resonac Corporation, Rizhao Hengqiao Carbon Co.,Ltd., Sojitz JECT Corporation, Sumitomo Corporation, and Tokai Carbon Co., Ltd..
Market Segmentation & Coverage
This research report categorizes the Needle Coke Market to forecast the revenues and analyze trends in each of the following sub-markets:- Type
- Coal-Tar Pitch Derived
- Petroleum Derived
- Rotary Kiln
- Shaft Calciner
- Grade
- Intermittent Grade
- Premium Grade
- Super-Premium Grade
- Application
- Graphite Electrode Manufacturing
- Lithium-Ion Batteries
- Specialty Carbons
- End-Use
- Aluminium & Steel Industry
- Automotive Industry
- Semiconductor Industry
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- Alabama
- California
- Florida
- Illinois
- Indiana
- Louisiana
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Market Drivers
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Surge in demand for graphite electrodes from the automotive and aerospace industry
- 5.1.1.2. Expanding use of semiconductors in electronic devices and equipment
- 5.1.2. Restraints
- 5.1.2.1. Quality limitations of needle coke across industries
- 5.1.3. Opportunities
- 5.1.3.1. Significant shift toward sustainable and renewable energy sources
- 5.1.3.2. Rising number of research and development projects for needle coke
- 5.1.4. Challenges
- 5.1.4.1. Issues associated with complex production of needle coke
- 5.2. Market Segmentation Analysis
- 5.2.1. Type: Growing demand coal-tar pitch derived needle coke in the steel industry
- 5.2.2. Grade: Significant preference for premium grade needle coke in the production of high-quality graphite electrodes
- 5.2.3. Application: Increasing preference for needle coke stems from its high crystallinity and purity for lithium-ion batteries
- 5.2.4. End-Use: Rising utilization of high-quality needle coke across aluminum & steel industries
- 5.3. Market Trend Analysis
- 5.3.1. Investigating the impact of government incentives on expansion of needle coke production facilities and proliferating needle coke use in advanced batteries in the Americas region
- 5.3.2. Expansion of graphite material production facilities and focus on optimizing the regulations for the import of needle coke across the APAC region
- 5.3.3. Emphasis on sustainable needle coke production and extensive growth of steel and lithium battery production
- 5.4. Cumulative Impact of High Inflation
- 5.5. Porter’s Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
- 5.6. Value Chain & Critical Path Analysis
- 5.7. Regulatory Framework Analysis
- 6. Needle Coke Market, by Type
- 6.1. Introduction
- 6.2. Coal-Tar Pitch Derived
- 6.3. Petroleum Derived
- 7. Needle Coke Market, by Grade
- 7.1. Introduction
- 7.2. Intermittent Grade
- 7.3. Premium Grade
- 7.4. Super-Premium Grade
- 8. Needle Coke Market, by Application
- 8.1. Introduction
- 8.2. Graphite Electrode Manufacturing
- 8.3. Lithium-Ion Batteries
- 8.4. Specialty Carbons
- 9. Needle Coke Market, by End-Use
- 9.1. Introduction
- 9.2. Aluminium & Steel Industry
- 9.3. Automotive Industry
- 9.4. Semiconductor Industry
- 10. Americas Needle Coke Market
- 10.1. Introduction
- 10.2. Argentina
- 10.3. Brazil
- 10.4. Canada
- 10.5. Mexico
- 10.6. United States
- 11. Asia-Pacific Needle Coke Market
- 11.1. Introduction
- 11.2. Australia
- 11.3. China
- 11.4. India
- 11.5. Indonesia
- 11.6. Japan
- 11.7. Malaysia
- 11.8. Philippines
- 11.9. Singapore
- 11.10. South Korea
- 11.11. Taiwan
- 11.12. Thailand
- 11.13. Vietnam
- 12. Europe, Middle East & Africa Needle Coke Market
- 12.1. Introduction
- 12.2. Denmark
- 12.3. Egypt
- 12.4. Finland
- 12.5. France
- 12.6. Germany
- 12.7. Israel
- 12.8. Italy
- 12.9. Netherlands
- 12.10. Nigeria
- 12.11. Norway
- 12.12. Poland
- 12.13. Qatar
- 12.14. Russia
- 12.15. Saudi Arabia
- 12.16. South Africa
- 12.17. Spain
- 12.18. Sweden
- 12.19. Switzerland
- 12.20. Turkey
- 12.21. United Arab Emirates
- 12.22. United Kingdom
- 13. Competitive Landscape
- 13.1. Market Share Analysis, 2023
- 13.2. FPNV Positioning Matrix, 2023
- 13.3. Competitive Scenario Analysis
- 13.3.1. Graphite One Delivers Synthetic Graphite Material Key to Accelerating its Path to Anode Material Production
- 13.3.2. Epsilon Advanced Materials to build USD 650 Million graphite anode facility in North Carolina
- 13.3.3. TMS International Partnering with Nippon Carbon as North American Distributor of Graphite Electrodes
- 13.3.4. Posco Future M Starts Trial Run for In-House Production of Anode Materials
- 13.3.5. Mitsubishi Chemical, Zeon to make EV battery materials in North America
- 13.3.6. Indian Government Permits Import of Pet Coke as Raw Material for Lithium-Ion Batteries
- 13.3.7. Chevron Lummus Global and TAQAT Announce License and Engineering Contract Agreement for Needle Coke/Synthetic Graphite Complex
- 13.3.8. Anovion, maker of graphite for electric batteries, plans USD 800 million factory in southwest Georgia
- 13.3.9. Allkem and Livent to Create a Leading Global Integrated Lithium Chemicals Producer
- 13.3.10. GrafTech Expands Operations with New Sales Office in Dubai
- 13.3.11. NOVONIX Enters into Joint Venture Agreement with TAQAT Development Company to Produce Battery Materials in the MENA Region
- 13.3.12. Posco Chemical Expands the Production Capacity of Synthetic Graphite Anode Materials
- 13.3.13. POSCO Chemical Signs a Contract with Ultium Cells LLC Of the United States to Supply Artificial Graphite Anode Material for Electric Vehicle Batteries Worth KRW 939.3 Billion (USD 764.3 Million)
- 14. Competitive Portfolio
- 14.1. Key Company Profiles
- 14.2. Key Product Portfolio
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