Industry Outlook and Trend Analysis
The Needle Coke Market was worth USD 0.97 billion in the year 2014 and is expected to reach approximately USD 1.61 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 5.74% during the forecast period. The worldwide needle coke market is anticipated to encounter a critical development over the figure time frame. The market is anticipated to be impacted by rising demand in steel recycling and rising demand for petroleum-based coke across the globe. Needle coke is a top notch review of oil coke, which is utilized as a part of assembling of graphite cathodes for bend heaters in steel industry. A decent nature of needle coke is hard and thick mass shaped with a structure of carbon strings or needles situated in a single course (stream heading). This coke is exceptionally crystalline and gives the properties required for assembling graphite cathode.
Type Outlook and Trend Analysis
On the basis of Type, the worldwide needle coke market is segmented into Petroleum Derived and Coal Tar Pitch Derived. Petroleum derived needle coke is expected to generate highest market share over the forecast period owing to several advantages derived from this type. In this type, needle coke can be produced from heavier petroleum streams without undergoing any pretreatment. Moreover, development of ex-refinery distillate yield pattern due to upgradation of low value heavier petroleum fractions is also an additional advantage obtained from this type.
Grade Outlook and Trend Analysis
The worldwide needle coke market is segmented into Intermediate, Premium and Super Premium on the basis of grade.Premium grade needle coke is expected to generate highest market share over the forecast period owing to its wide range of applicability in various industries. Moreover, super premium grade of needle coke is expected to generate highest growth rate in the upcoming years due to increasing mining activities in the emerging economies.
End User Outlook and Trend Analysis
The worldwide needle coke market is segmented into Steel Industry, Aluminum Industry, Lithium Battery, Nuclear Power, Aerospace and other end users on the basis of end users. Steel industry section is expected to generate highest market share over the forecast period owing to the increasing demand of needle coke in the production of graphite electrodes in the steel industry. Aerospace section of the end user segment is expected to demonstrate highest growth rate in the upcoming years due to the increased application of needle coke in this sectors.
Regional Outlook and Trend Analysis
North America held a significant share of the Needle Coke Market in 2014 due to the increasing application in steel industry and aerospace. The Asia-Pacific market has not experienced any substantial growth due to high pricing and low Government initiatives towards needle coke production, but can experience favorable growth in coming years owing to increasing in disposable income in the region.
The market includes various competitors prevailing across regions. The major players in the market are Mitsubishi Chemical Corporation, Indian Oil Corporation Ltd., Phillips 66, JXTG Holdings, Inc., Seadrift Coke LP, C-Chem CO., LTD., PETROLEUM COKE INDUSTRIES CO. (K.S.C), Baotailong New Material Co., Ltd., Bao-steel Group, Sinopec Shanghai Petrochemical Company Limited, Shanxi Hongte Coal Chemical Co Ltd., Sinosteel Anshan Research Institute of Thermo-Energy Co., Ltd., Petrochina International Jinzhou Petrochemical Co., Ltd., and Shijiazhuang Deli Chemical Co.
The Needle Coke Market is segmented as follows-
Coal Tar Pitch Derived
By End User:
Others End Users
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2012 to 2023?
What will be the industry market growth from 2014 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?