Needle Coke Market by Type, Grade, Application, End-Use

List of Tables

[190 Pages Report] 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.

KEY MARKET STATISTICS
Base Year [2023]	USD 4.32 billion
Estimated Year [2024]	USD 4.69 billion
Forecast Year [2030]	USD 7.81 billion
CAGR (%)	8.82%

Type: Growing demand coal-tar pitch derived needle coke in the steel industry

Coal-tar pitch-derived needle coke is manufactured using coal tar, a byproduct of metallurgical coke production known for its high purity and superior properties required for fabricating ultra-high power (UHP) graphite electrodes. Coal-tar pitch needle coke typically contains fewer impurities than its petroleum-based counterpart. The rotary kiln is a long-established method for producing petroleum-derived needle coke. The raw material is heated indirectly in a rotary kiln, which promotes a controlled coking process, influencing the coke's qualities. The rotary kiln is a long-established method for producing petroleum-derived needle coke. Petroleum-derived needle coke is produced from heavy aromatic hydrocarbon oil derived from petroleum refining, which is considered suitable for producing graphite electrodes for arc furnaces in the steel industry. It is also increasingly used to manufacture battery anodes for electric vehicles (EVs). When comparing the two types of needle coke, the coal-tar pitch-derived needle coke has a slight edge in terms of quality and is thus preferred for high-end applications. However, petroleum-derived needle coke has the advantages of scalability and cost-effectiveness, making it more suitable for widespread industrial applications.

Grade: Significant preference for premium grade needle coke in the production of high-quality graphite electrodes

Intermittent grade needle coke is characterized by its sporadic production output and relatively lower quality than higher grades. It is typically used in applications where the strict purity and conductivity requirements of higher-grade needle cokes are not necessary. Common uses include the manufacture of graphite electrodes for electric arc furnaces in which the intensity and frequency of use are not as rigorous or where cost considerations outweigh the benefits of higher-grade material. Premium grade needle coke is recognized for its higher quality than the intermittent grade, which offers better electrical and thermal conductivity and increased mechanical strength. This grade is frequently utilized in producing high-quality graphite electrodes, essential for the effective operation of ultra-high power (UHP) electric arc furnaces used in steel manufacturing. Super-premium grade needle coke stands at the apex of the quality spectrum in needle coke production. It boasts the highest purity levels, excellent crystalline structure, and optimal physical properties, such as coefficient of thermal expansion (CTE), which are crucial for the fabrication of graphite electrodes for even the most demanding steel and aluminum production scenarios, as well as for lithium-ion batteries anodes.

Application: Increasing preference for needle coke stems from its high crystallinity and purity for lithium-ion batteries

The primary use for needle coke is fabricating graphite electrodes, indispensable in steel production through electric arc furnaces (EAF). Needle coke's low coefficient of thermal expansion (CTE) and high-temperature resistance contribute to durable electrodes capable of withstanding harsh conditions within EAFs. The burgeoning electric vehicle (EV) market and portable electronics industry have amplified the demand for lithium-ion batteries, with needle coke as an essential component in the anode material, contributing to higher energy density and battery efficiency. Specialty carbons, including carbon fibers, activated carbon, and carbon black, leverage the properties of needle coke for various applications. The material's inherent qualities facilitate enhanced aerospace, defense, water purification, and high-end plastics and rubber production performance. The application segments for needle coke show divergent demand patterns based on sector-specific requirements. In graphite electrode manufacturing, the key driver is needle coke's thermal stability and electrical conductivity, which is paramount for steel production efficiency. Lithium-ion batteries use needle coke for the increased energy density and longevity they impart to anodes, aligning with the surging consumer and industrial demand for sustainable and reliable energy sources. Specialty carbons represent a broad category where needle coke's physical and chemical stability is leveraged across a spectrum of high-performance products with diverse industrial applications.

End-Use: Rising utilization of high-quality needle coke across aluminum & steel industries

The aluminum and steel industry predominantly uses needle coke as a key raw material for producing graphite electrodes. Graphite electrodes are critical components in electric arc furnaces (EAFs) and ladle furnaces employed for steel production. In the automotive industry, needle coke is significantly utilized for producing lithium-ion batteries, integral to powering electric vehicles (EVs). The need for high-purity needle coke is paramount here, as it directly impacts the batteries' performance, longevity, and safety. The semiconductor industry demands highly pure needle coke to fabricate silicon wafers and semiconductors. This high-grade needle coke is indispensable for producing high-quality synthetic graphite in semiconductor manufacturing. The aluminum and steel industry requires needle coke to focus on thermal resistance and electrical conductivity due to the extreme conditions in EAFs. The automotive sector is motivated by the needle coke's purity, which impacts the efficiency and lifecycle of EV batteries. Meanwhile, the Semiconductor Industry prioritizes the highest purity level to prevent product failure due to impurities.

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.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Needle Coke Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis 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: 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 examination of the current state of vendors in the Needle Coke Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. 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 this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

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

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Needle Coke Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Needle Coke Market?

3. What are the technology trends and regulatory frameworks in the Needle Coke Market?

4. What is the market share of the leading vendors in the Needle Coke Market?

5. Which modes and strategic moves are suitable for entering the Needle Coke Market?

Product Code: MRR-036C5CF3B47D

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