Punjab Samachar

Needle Coke Market Expected To Reach USD 5.85 Billion By 2027 With CAGR Of 6.4% says Reports And Data

 Breaking News
  • No posts were found

Needle Coke Market Expected To Reach USD 5.85 Billion By 2027 With CAGR Of 6.4% says Reports And Data

April 09
20:15 2021
Needle Coke Market Expected To Reach USD 5.85 Billion By 2027 With CAGR Of 6.4% says Reports And Data

Reports And Data
Surging product demand from the steel industry and increased demand for lithium-ion batteries with a rising electric vehicles trend will stimulate market growth. Needle Coke Market Size – USD 3.59 billion in 2019, Market Growth – CAGR of 6.4%, Market Trends – Escalating demand for lithium-ion batteries

The needle coke market size is estimated to reach USD 5.85 billion in terms of annual valuation from 3.59 billion in 2019, delivering a CAGR of 6.4% through 2027. Growing product demand for the manufacturing of electrodes, silicon metal & ferroalloys, rubber compounds, and others, will drive needle coke market growth through the forecast period. Needle coke is a crucial raw material used in the steel & aluminum industries and for the manufacturing of graphite electrodes. The rapid growth of the consumer electronics sector and increasing consumer preference for electric and hybrid vehicles is likely to fuel the demand for needle coke. The growing demand is attributed to the extensive usage of lithium-ion batteries in hybrid electric vehicles, battery electric vehicles, consumer electronics, and other applications.

The hybrid electric vehicles are witnessing rapid growth with favorable policies by the government, rising awareness among consumers to reduce carbon emissions, and volatile gas prices. These factors will positively impact needle coke market growth over the coming years. Moreover, the coal tar needle coke is obtained as a by-product of the low ash distillation and cooking process. This enables manufacturers to covert coal tar into various intermediate chemicals, which further offers great opportunities to the industry players.

The cost-effectiveness of needle coke products, product advancement with new technology, along with growing demand for steel and lithium-ion batteries, will supplement the needle coke market over the forecast period.

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/2929

Further key findings from the report suggest

  • On the basis of product type, the coal-based product segment is likely to contribute significant revenue to the global needle coke market share, exhibiting a growth rate of 7.2% through 2027. The robust growth can be attributed to the remarkable properties of the product, such as a low coefficient of thermal expansion and low electric resistance as compared to petroleum needle coke
  • The petroleum-based needle sub-segment accounted for the majority of the needle coke market share in 2019 and is forecast to register a CAGR of 6.1% through 2027 due to extensive product usage in steel production as it has the ability to withstand high-temperature conditions and is less harmful to the environment.
  • In terms of grade, the premium-grade needle coke segment is expected to witness a substantial growth rate of 6.1% over the analysis period.
  • On the basis of application, the electrodes sub-segment accounted for the largest market share in 2019 and is estimated to grow at 6.6% through 2027. Graphite electrodes are extensively used in ladle furnace (LF) and electric arc furnace (EAF) for the production of steel, ferroalloy production, smelting processes, and silicon metal production, among others.
  • In the regional landscape, the Asia Pacific region accounted for the largest market share in 2019 and is forecast to grow at 7.4% over the projected timeframe n account of the rising growth of infrastructure and manufacturing industries across the region.
  • Key participants in the needle coke market are Phillips 66, Graftech International, Mitsubishi Chemical Corporation, Sumitomo Chemical Company, China National Petroleum Corporation, Indian Oil Corporation Limited, Asbury Carbon Inc., Sojitz Ject Corporation, Graphite India Limited, and Baosteel Group, among others.

  • On 3rd September 2020, The Indian Oil Corporation Board approved an investment of USD 17.31 crore for setting up a needle coker unit with a CNC production capacity of 56 kilos tpa. at its Paradip refinery in Odisha.

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/needle-coke-market

For the purpose of this report, Reports and Data has segmented the Global Needle Coke Market on the basis of product type, grade, application, and region:

Product Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)

  • Coal-Based Needle Coke
  • Petroleum-Based Needle Coke

Grade Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)

  • Super-Premium Grade
  • Premium Grade
  • Intermediate-Premium Grade

Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)

  • Electrodes
  • Silicon Metal & Ferroalloys
  • Carbon Black
  • Rubber Compounds
  • Others

Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Buy Now: https://www.reportsanddata.com/checkout-form/2929

Table Of Content:

Chapter 1. Market Synopsis
    1.1. Market Definition
    1.2. Research Scope & Premise
    1.3. Methodology
    1.4. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Needle Coke Segmentation & Impact Analysis
    4.1. Needle Coke Material Segmentation Analysis
    4.2. Industrial Outlook
          4.2.1. Market indicators analysis
          4.2.2. Market drivers analysis


Chapter 9. Competitive Landscape
    9.1. Market Revenue Share by Manufacturers
    9.2. Manufacturing Cost Breakdown Analysis
    9.3. Mergers & Acquisitions
    9.4. Market positioning
    9.5. Strategy Benchmarking
    9.6. Customer Mapping
    9.7. Vendor Landscape
Chapter 10. Company Profiles
    10.1. Phillips 66
            10.1.1. Company Overview
            10.1.2. Financial Performance
            10.1.3. Technology Insights
            10.1.4. Strategic Initiatives
    10.2. Mitsubishi Chemical Corporation
            10.2.1. Company Overview
            10.2.2. Financial Performance
            10.2.3. Technology Insights
            10.2.4. Strategic Initiatives
   10.3. Graftech International
           10.3.1. Company Overview
           10.3.2. Financial Performance
           10.3.3. Technology Insights
           10.3.4. Strategic Initiatives
    10.4. Sumitomo Chemical Company
            10.4.1. Company Overview
            10.4.2. Financial Performance
            10.4.3. Technology Insights
            10.4.4. Strategic Initiatives
    10.5. Indian Oil Corporation Limited
            10.5.1. Company Overview
            10.5.2. Financial Performance
            10.5.3. Technology Insights
            10.5.4. Strategic Initiatives
    10.6. China National Petroleum Corporation
            10.6.1. Company Overview
            10.6.2. Financial Performance
            10.6.3. Technology Insights
            10.6.4. Strategic Initiatives
    10.7. Asbury Carbon Inc.
            10.7.1. Company Overview
            10.7.2. Financial Performance
            10.7.3. Technology Insights
            10.7.4. Strategic Initiatives
    10.8. Baosteel Group
           10.8.1. Company Overview
           10.8.2. Financial Performance
           10.8.3. Technology Insights
           10.8.4. Strategic Initiatives


About Us:

Our in-house experts assist our clients with advice based on their proficiency in the market that helps them in creating a compendious database for the clients. Our team offers expert insights to clients to guide them through their business ventures. We put in rigorous efforts to keep our clientele satisfied and focus on fulfilling their demands to make sure that the end-product is what they desire. We excel in diverse fields of the market and with our services extending to competitive analysis, research and development analysis, and demand estimation among others, we can help you invest your funds in the most beneficial areas for research and development.

Media Contact
Company Name: Reports and Data
Contact Person: John Watson
Email: Send Email
Phone: +1-212-710-1370
Address:40 Wall St. 28th floor
City: New York City
State: NY 10005
Country: United States
Website: https://www.reportsanddata.com/press-release/global-needle-coke-market