The Global Needle Coke Market size is expected to grow from 1.91 million metric tons in 2023 to 3.37 million metric tons by 2028, at a CAGR of 12.07% during the forecast period (2023-2028).
The COVID-19 pandemic negatively impacted the needle coke market. Due to COVID-19, the manufacturing of graphite electrodes was heavily impacted due to less demand from the steel manufacturing plants, which reduced the consumption of needle coke. After 2020, the market expanded steadily because of the continuous manufacturing of graphite electrodes.
The needle coke market is consolidated in nature. Some of the major players in the market (not in any particular order) include Phillips 66 Company, GrafTech International, Mitsubishi Chemical Group Corporation, ENEOS Corporation, and NIPPON STEEL Chemical & Material Co., Ltd., among others.
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