Needle coke is an excellent and promising raw material that holds a strong potential to change the dynamics of the steel and automotive industry. The fates of these two industries are intertwined with the needle coke industry driven by lithium-ion batteries and graphite electrodes. The demand for needle coke is rising with the rise in demand for electric vehicles and steel in the end-use industries. The steel industry is continuously growing at a steady rate and thus driving the demand for needle coke in the steel industry.
With the growing environmental concerns, the automotive industry is experiencing a considerable shift toward the adoption of electric vehicles in the world. The EV manufacturers are opting for lithium-ion batteries for achieving better performance ratios. The lithium-ion battery manufacturers are using needle coke for the production of lithium-ion battery anodes, which is driving the demand generated for needle coke in the market.
Steel and automotive industry are the two major contributors in generating the demand for needle coke in the global market. The development of these industries is continuously driving the growth of needle coke, generating stronger demand for the crystalline material in the downstream ecosystem. In the coming years, needle coke is expected to witness high demand due to the constant push from the government bodies toward the adoption of electric vehicles throughout the world.
Needle coke is extracted from two carbon sources and is of two types: petroleum-based and coal-based. Petroleum-based needle coke is significantly providing a push to the needle coke market in the end-use industries, where it is being used as a crucial raw material.
Needle coke is used most significantly in the production of graphite electrodes and lithium-ion batteries by electric arc furnace (EAF) steelmakers and battery manufacturers. Graphite electrode manufacturers use needle coke driven by its excellent characteristics that include withstanding a high temperature of around 2800°C, providing high thermal expansion coefficient and electrical resistivity. The steel and automotive industry posits a high demand for needle coke owing to its numerous characteristics.
The needle coke industry is a highly concentrated market, which consists of around ten key players from around the globe. The U.S., China, and Japan are the countries majorly producing a vast quantity of needle coke. The U.S. accounts for a major percentage of petroleum-based needle coke production, and China is leading in terms of coal-based needle coke production. The two countries are leading the market owing to the market contribution made by their giant players.. The largest end-user segment of needle coke, steel industry, prefers petroleum-based needle coke because of its meaningfully graphitizing time and bake time, which is significantly required during the production of high-quality graphite electrodes for EAF steelmaking. Similarly, the battery manufacturers also prefer petroleum-based needle coke for the production of lithium-ion batteries driven by its high energy density that provides batteries longer driving ranges and longevity.
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Though the adoption rate of lithium-ion batteries is slow in developing countries due to their high cost, potential EV manufacturers are planning to switch to lithium-ion batteries in the coming years. Developed countries such as Japan are actively involved in the development of lithium-ion batteries driven by strong government policies, a well-established automotive industry, and potential research capacity. Some of the major EV manufacturers using lithium-ion batteries in their cars are Tesla, Inc. in Tesla 3 model and Chevrolet in the BOLT model.
Industry attractiveness in this context refers to the maximum profitability in the needle coke nitride industry. This factor further gauges the competitiveness persisting in the industry. The overall industry attractiveness does not imply that every player in the market earns the same profit. Companies apply their core competency and strong network to achieve a profit above the industry average.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the needle coke market includes Phillips 66, JXTG Nippon Oil & Energy , C-Chem Co., Ltd. , Shijiazhuang Deli Chemical Co., Ltd., Mitsubishi Chemical Corporation, Seadrift Coke, LP , Sumitomo Corporation, Indian Oil Corporation Ltd., Reliance Industries Ltd., Fangda Carbon New Material Co., Ltd., Shanxi Hongte Coal Chemical Industry, Baotailong New Materials Co., Ltd. and Sinosteel Corporation.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Needle Coke Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/needle-coke-market/download-sampleMarket DynamicsGrowing steel manufacturing industries, especially in the Asia Pacific region along with increasing demand from graphite electrodes, is expected to be the key growth factor.
Robust demand for steel and aluminum from automobiles, heavy equipment, and machinery, aircraft sector is further supporting the market growth.
In addition, superior properties such as low electric resistance, a coefficient of thermal expansion, less breakage and spalling are anticipated to fuel the market over the forecast period.
Whereas, instability in crude oil and natural gas market affects the demand and supply are expected to hamper the market growth.This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis.
