Needle Coke Market Poised to Grow by $857.65 Million due to an Increasing Demand for UHP Graphite Electrodes | Technavio

The global needle coke market size is poised to grow by USD 857.65 million during 2020-2024, progressing at a CAGR of almost 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

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Technavio has announced its latest market research report titled Global Needle Coke Market 2020-2024 (Graphic: Business Wire)

The increasing demand for UHP graphite electrodes is one of the major reasons for the needle coke market growth. UHP graphite electrodes are gaining immense traction in the steel industry. They are mainly used in UHP EAFs with the current density ranging from 19 amperes per square centimeter to 43 A/cm2. Large capacity UHP EAFs are being used as they have low cost and high work efficiency. UHP graphite electrodes possess excellent dimension stability and high resistance toward deformation, spalling, cracking, oxidation, and thermal shock. As the UHP graphite electrodes are made using needle coke, the increase in the adoption of UHP electrodes will drive the consumption of needle coke.

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Report Highlights:

• The major needle coke market growth came from the graphite industry in 2019, and the segment is expected to grow at a significant rate during the forecast period.
• APAC was the largest needle coke market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the high consumption of needle coke in the steel industry.
• The global needle coke market is concentrated. C-Chem Co. Ltd., China Petrochemical Corp., ENEOS Holdings Inc., GrafTech International Ltd., Indian Oil Corp. Ltd., Mitsubishi Chemical Holdings Corp., Phillips 66, PMC Tech Co. Ltd., Sojitz JECT Corp., and Sumitomo Corp. are some of the major market participants. To help clients improve their market position, this needle coke market forecast report provides a detailed analysis of the market leaders.
• As the business impact of COVID-19 spreads, the global needle coke market 2020-2024 is expected to have neutral growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Emergence of Green Steel will be a Key Market Trend

The consumption of fossil fuel for the production of steel contributes to carbon dioxide emissions, which has become a major issue faced by the global steel industry. To resolve this issue, several R&D activities have been undertaken, which have led to the emergence of green steel. Several steel-making methods have been developed to reduce CO2 emissions, which include pulverized coal injection, and carbon capture and storage (CCS) technology. This will increase the production of steel worldwide, which in turn, will boost the demand for needle coke for producing graphite electrodes.

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Needle Coke Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist needle coke market growth during the next five years
• Estimation of the needle coke market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the needle coke market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of needle coke market vendors

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Executive Summary

Market Landscape

• Market ecosystem
• Market characteristics
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by End-user

• Market segments
• Comparison by End user
• Graphite industry - Market size and forecast 2019-2024
• Battery industry - Market size and forecast 2019-2024
• Others - Market size and forecast 2019-2024
• Market opportunity by End user

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption
• Competitive scenario

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• C-Chem Co. Ltd.
• China Petrochemical Corp.
• ENEOS Holdings Inc.
• GrafTech International Ltd.
• Indian Oil Corp. Ltd.
• Mitsubishi Chemical Holdings Corp.
• Phillips 66
• PMC Tech Co. Ltd.
• Sojitz JECT Corp.
• Sumitomo Corp.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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View source version on businesswire.com: https://www.businesswire.com/news/home/20201028006045/en/

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