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Needle Coke Market Segmentation by Source (Decant Oil, Coal Tar Pitch, and Others); by Grade (Premium, and Others); by Application (Graphite Electrodes, Lithium-ion Batteries, Steel Plants, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Needle Coke Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Global Needle Coke Market Highlights over 2022 – 2030

The needle coke market is estimated to grow at a CAGR of ~14% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the rapid recovery in the steel production industry and battery industry post-coronavirus pandemic, as needle coke is extensively used in the production of steel and lithium-ion batteries. Moreover, needle coke is used as raw material in graphite electrodes in an electric furnace, which is estimated to heighten its demand in the upcoming years. Increasing adoption of electric vehicles has resulted in high demand for lithium-ion batteries, which is a major growth factor for the market. According to the data by the International Energy Agency (IEA), sales of electric cars crossed 2.1 million globally in 2019, witnessing a growth of 2.6% from previous year.

Needle Coke Market Graph

The market is segmented by application into graphite electrodes, lithium-ion batteries, steel plants and others, out of which, the lithium-ion batteries segment is anticipated to hold the largest revenue share in the market over the forecast period on account of increasing production of lithium-ion batteries, backed by their long life, environment friendly nature, and extensive use in electric vehicles.  According to the data by the EIA, the demand for lithium-ion batteries is estimated to increase from 17kt to 185 kt per year by 2030. In the Sustainable Development Scenario, this demand can even double-up by 2030. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Electricity Consumption Graph

In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.

Global Needle Coke Market Regional Synopsis

On the basis of geographical analysis, the global needle coke market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region currently holds the largest market share and is expected to dominate the market over the forecast period owing to the rising focus on developing and manufacturing efficient and affordable electric vehicle battery systems in the countries, such as, United States. Around 7.5% of U.S. adults currently own an electric or hybrid vehicle, while 39% are likely to seriously consider buying an electric vehicle.

The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the rising adoption of electric vehicles in the developing countries in the APAC region, backed by the presence of major automotive manufactures in countries, such as, Japan, and India.

Needle Coke Market Share Graph

The global needle coke market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Needle Coke Market Segmentation

Our in-depth analysis of the global needle coke market includes the following segments:

By Source

  • Decant Oil
  • Coal Tar Pitch 
  • Others

By Grade

  • Premium
  • Others

By Application

  • Graphite Electrodes
  • Lithium-ion Batteries
  • Steel Plants
  • Others

Growth Drivers

  • Increasing Demand for Lithium-ion Batteries
  • Recovery in the Steel Production Industry


  • Impact of COVID-19 on the Manufacturing Industry
  • Competition from Honeycomb Coke

Top Featured Companies Dominating the Market

  • C-Chem Co., Ltd.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Phillips 66 Company
  • Shandong Yida Rongtong Trading Co., Ltd.
  • Shaanxi Coal and Chemical Industry Group Co., Ltd.
  • Mitsubishi Chemical Holding Corporation
  • Bao-steel Group
  • Petrochina International Jinzhou Petrochemical Co., Ltd
  • Petrocokes Japan Ltd.
  • Indian Oil Corporation Ltd
  • GrafTech International Holdings Inc.


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