The global market for needle coke is projected to grow at a CAGR of 6.05% from 2025 to 2033, with an expected value of $7.03 billion by 2033. Needle coke is a high-value carbon material essential for graphite electrodes in steel production and anodes in electric vehicle batteries. Its low thermal expansion, high density, and resistance make it ideal for high-performance applications. It requires raw materials with high aromatic content, low sulfur, and optimal viscosity. Needle coke improves the production of ultra-high power and high-power graphite electrodes, in addition to anodes for lithium-ion batteries and electrodes for supercapacitors.
As industries seek advanced solutions, needle coke remains a critical driver of innovation and efficiency across sectors. China holds a dominant position in the needle coke market, however, the global focus toward supply chain diversification while adopting the “China Plus One” strategy has opened opportunities for companies that have access to abundant raw materials such as coal tar and slurry oil to capitalize on the market opportunities.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook