Needle Coke Market is projected to grow at CAGR of 4.53% during the forecast
The report published by Knowledge Sourcing Intelligence titled “Needle Coke Market – Forecasts from 2018 to 2023” studies the various factors affecting the demand for various types of needle cokes worldwide. The report has been segmented by type (petroleum based, coal based), and application (graphite electrode, lithium-ion batteries). In addition, the demand for needle coke has been estimated based on the geography, covering five regions namely North America, South America, Europe, Middle East and Africa, and Asia Pacific, and some of the major economies in each of these regions. Needle coke is the main component used to produce graphite electrodes which are used in electric arc furnace steel manufacturing. The demand for needle coke would primarily be driven by the expansion of steel manufacturing industries and increasing adoption of steel recycling around the globe. Increasing adoption of needle coke due to the properties like low electric resistance and less breakage associated with it is expected to propel the demand during the forecast period.
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By application, graphite electrodes are projected to have the significant market share in the Needle coke market in 2018.
It is estimated that the demand for graphite electrodes will be stronger as compared to lithium-ion in 2018 and will grow at a significant rate. The demand for graphite electrodes will be directly affected by increasing demand for the product in the aerospace industry owing to its material variety and cost. Therefore, with the increasing investment in the aerospace industry, the demand for graphite electrodes is expected to increase in the coming years. According to International Trade Administration, US aerospace manufacturers contributes around $143 billion in export sales to the US economy and in 2016 export of civil aerospace products including aircraft and engines totaled $123.7 billion which is a 1.6% increase over 2015.
The Asia Pacific region is estimated to hold a significant share in the needle coke market throughout the forecast period.
The demand for needle coke was comparatively high in the Asia Pacific region owing to the rising investment in steel and aluminum manufacturing industries in various countries such as China, India, and South Korea, among others. Furthermore, an increase in automotive production due to the availability of labor at an economical price and favorable government policies is adding to the demand for needle coke. In addition, the rising automotive sector in the region is also expected to widen up the growth opportunities for vendors and manufacturers in the region during the forecast period. For instance, total car production in India has increased by nearly 5.83% in 2017 reaching a total production of 4,782,896 units (Source: International Organization of Motor Vehicle Manufacturers).
This report also includes a study of strategies and product portfolios of some of the leading companies in the needle coke market. It consists of company profiles of the leading companies such as Phillips 66, Asbury Carbons, Seadrift Coke LP, GrafTech International Holdings Inc, Mitsubishi Chemical Corporation, SojitzJECT Corporation, Indian Oil Corporation, C-Chem CO., Ltd and Sumitomo Corporation.
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Knowledge Sourcing Intelligence (KSI) is a market research and consulting organization based out of India. KSI publishes research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centering on niche and latest technologies. We engage with key decision makers and stakeholders across the value chain to provide clients with a detailed analysis and bird’s-eye view of the market with whole market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines.
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