Research Nester published a report titled “Needle Coke Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global needle coke market in terms of market segmentation by source, grade, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global needle coke market is projected to grow at a CAGR of ~14% over the forecast period, i.e., 2022 – 2030. 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 garner the largest revenue share over the forecast period. The growing demand for electric vehicle, backed by rising environmental awareness amongst the people, is estimated to account for the growth of the segment. According to the data by the International Energy Agency (IEA), 2.1 million electric cars were sold in 2019.
The market is estimated to grow on the back of various application of needle coke, including production of steel, lithium-ion batteries, and others. The steel industry is witnessing rapid recovery post the halt caused due to coronavirus outbreak. This is estimated to increase the demand for needle coke significantly, which is estimated to boost the market growth in the upcoming years. Moreover, increasing demand for lithium-ion batteries in the EV industry is estimated to fuel the market growth.
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Regionally, the global needle coke market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these, the market in Asia Pacific region is estimated to witness highest CAGR over the forecast period, on the back of presence of major needle coke producing companies in the countries, such as, China and Japan. Moreover, increasing adoption of electric vehicles in this region is also foreseen to boost the regional market growth.
The research was global in nature and conducted in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa). In addition, areas like Market size, Y-O-Y growth & Opportunity Analysis, market players competitive study, investment opportunities, demand for future outlook etc. have been covered and displayed in the research report to ensure it dives deep to achieve strategic competitive intelligence in the segment.
Increasing Application of Needle Coke to Boost the Market Growth
Needle coke is primarily used as the major heating element in the steel plants, to produce steel. It is also used in the production of lithium-ion batteries. The growth in the applications of needle coke is estimated to boost the market growth.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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However, competition from honeycomb coke, and negative impact of COVID-19 are expected to operate as key restraint to the growth of the global needle coke market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global needle coke market which includes company profiling of C-Chem Co., Ltd, 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. and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global needle coke market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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