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Exploring the Growing Demand and Key Trends in the Needle Coke Market

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Ben Wood
Exploring the Growing Demand and Key Trends in the Needle Coke Market

The needle coke market has been experiencing a significant surge in demand in recent years. As the global energy landscape evolves, the need for needle coke, a crucial material in the production of graphite electrodes, has skyrocketed. Several key trends are driving this growing demand. Firstly, the increasing adoption of electric vehicles has led to a rise in graphite electrode production for lithium-ion batteries. Additionally, the expanding steel industry and the growing demand for steel products in developing countries have contributed to the increased consumption of needle coke. Moreover, advancements in technology and the shift towards sustainable energy sources are further propelling the Needle Coke Market. Understanding these key trends and their implications is vital for industry players to effectively capitalize on the growing demand and stay ahead in this dynamic market.


The global needle coke market is expected to witness robust growth, exhibiting CAGR of 10.73 % over the forecast period, due to rising business expansion by key players. For instance, A new project for producing needle coke is being launched by Gazprom Neft at their Omsk refinery in December 2022. This project is expected to be complete by 2024.


North America is anticipated to witness robust growth in the global needle coke market during the forecast period, due to rising end-user industries for steel production.


Key players active in the global needle coke market are HEG Limited, Phillips 66 Company, China National Petroleum Corporation, Mitsubishi Chemical Corporation, Graphite india Limited, GrafTech International, Eastman Chemical Company, Sumitomo Chemical Co., Ltd, Shanghai Petrochemical, Indian Oil Corporation Ltd, GrafTech International, NIPPON STEEL Chemical & Material Co., Ltd., Asbury Carbons, Eni S.p.A., and Royal Dutch Shell Plc.


Read More:

https://cmitoc.blogspot.com/2023/05/global-needle-coke-market-is.html


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Ben Wood
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