Needle Coke Market to Reach USD 9.7 Billion by 2032 | SNS Insider

Austin, Feb. 20, 2025 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that, “The Needle Coke Market Size was valued at USD 4.8 Billion in 2023 and is expected to reach USD 9.7 Billion by 2032, growing at a CAGR of 8.2% over the forecast period of 2024-2032.”

The Needle Coke market is being driven by growing demand in electrode manufacturing for lithium-ion batteries and electric vehicles (EVs). Its critical role in producing high-quality anodes for energy storage systems contributes to this growth. Furthermore, the increasing interest of consumers in health supplements and beauty products is boosting demand. The report by the EU on Energy Transition (2023) further claims that manufacturing processes are being advanced, thus lowering costs and improving product quality, which in turn is fueling market potential.

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Key Players:

• GrafTech International (Ultra-Pure Needle Coke, High-Quality Needle Coke)
• JFE Chemical Corporation (Needle Coke for Graphite Electrodes, High-Performance Needle Coke)
• Mitsubishi Chemical Corporation (Super-Premium Needle Coke, Needle Coke for Steelmaking)
• Indian Oil Corporation Limited (IOCL Needle Coke, Petroleum Needle Coke)
• Shaanxi Coal and Chemical Industry (Needle Coke, Petroleum Needle Coke)
• Asbury Carbons (Needle Coke, Synthetic Needle Coke)
• Koch Industries (Needle Coke, Petroleum Needle Coke)
• Sinosteel Corporation (Needle Coke for Lithium Batteries, Ultra-High-Quality Needle Coke)
• China National Petroleum Corporation (CNPC) (Needle Coke, High-Purity Needle Coke)
• Phillips 66 (Petroleum Needle Coke, Ultra-High Performance Needle Coke)
• Fushun Jinly Petrochemical (Needle Coke, Petroleum Needle Coke)
• Shanxi Hongte Chemical (Needle Coke for Lithium-ion Batteries, Petroleum Needle Coke)
• LG Chem (Needle Coke, High-Performance Needle Coke)
• Dongjiang Chemical (Needle Coke, Carbon Needle Coke)
• Mitsui Chemicals (High-Quality Needle Coke, Graphite Electrode Needle Coke)
• Hunan Jinli New Materials (Petroleum Needle Coke, High-Performance Needle Coke)
• C-Chem Co. Ltd. (Needle Coke for Steel Production, Ultra-Pure Needle Coke)
• Pechiney (Alcan) (Needle Coke, Petroleum-Based Needle Coke)
• ConocoPhillips (Needle Coke, Synthetic Needle Coke)
• SGL Carbon (Needle Coke for Electrode Production, Graphite Needle Coke)

Needle Coke Market Report Scope:

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Regulatory Landscape and Policies Shaping the Needle Coke Market

• Strict environmental regulations encourage the sustainable production of Needle Coke.
• The demand for these high-quality anodes is further supported by governments around the world providing incentives for electric vehicle adoption.
• Food products and cosmetic products are also more than anything for that reason we have some safety criteria and standards into them. They are why people utilize Needle Coke in health supplements.
• Renewable energy-backed policies drive investments in battery production.
• Needle Coke import and export dynamics are influenceable by international trade samplings.

Based on Grade, Super-premium grade held a 54% market share in 2023 because of its high quality and suitability for use in graphite electrodes in EAFs and lithium-ion batteries. This is known for its thermal stability, low resistance, and great purity are key to effective, sustainable steel production.

Based on Application, in 2023, the electrode applications dominated the market with 48% from its total. Needle coke is used in the manufacture of graphite electrodes for EAF steelmaking, which are energy-efficient and environmentally-friendly. The increasing transition to EAF leads to a higher demand for high-performance needle coke.

In 2023, the Asia Pacific captured 54% revenue share of needle coke market driven by rapid industrialization and electric vehicle growth.

The main reason behind using needle coke lies in the world's largest producer of steel China and increasing production for efficient use of electric arc furnaces (EAF) for energy purposes. Growing mobility for electricity and rising usage in Li-ion battery-based cars has significantly increased battery requirements for cars. Increasing electricity and reducing harmful effects by more governmental activities increase its use throughout the region.

Recent Highlights

• February 2023: POSCO Chemical opened a new 10,000-ton plant for artificial graphite anodes. Artificial graphite anodes depend heavily on needle coke derived from coal tar in the production process. It's also one of the important components driving demand for electric vehicle batteries and helps in achieving improved battery performance and efficiency.

Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6. Competitive Landscape

7. Needle Coke Market Segmentation, By Grade

8. Needle Coke Market Segmentation, by Application

9. Regional Analysis

10. Company Profiles

11. Use Cases and Best Practices

12. Conclusion

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