Needle Coke Market - Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2018 - 2028

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Needle Coke Market - Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2018 - 2028

Status : September, 2021 | Chemical & Materials

Report Digest


Global Needle Coke Market: Overview

The global needle coke market is projected to witness a high growth trajectory, owing to a robust CAGR (Compound Annual Growth Rate), between 2018 and 2028. A number of factors will drive this growth into the global needle coke market. Some of these include a shift in preference towards electric vehicles, which is creating lucrative growth opportunities in the market for players to dabble with.

Another growth factor would be rise in demand for steel, the production of which requires needle coke when produced via electric furnace.

Global Needle Coke Market: Competitive Landscape

The global needle coke market is seeing developments happening that are shaping the competitive landscape. Some of the most prominent developments are outlined below. More detailed glimpse can be had in the upcoming report by Transparency Market Research (TMR) on the global motion sickness drugs market.

The global needle coke market is fragmented owing to a large number of players flanking the market landscape. Key names in the global needle coke market are Phillips 66; Asbury Carbon Inc.; Seadrift Coke L.P.; Sumitomo Chemical Company; Mitsubishi Chemical Corp.; JXTG Nippon Oil & Energy Corp.; and Indian Oil Corporation., among others. Most players, in their endeavour to stay ahead of their competition, invest heavily in research and development (R&D), The focus right now for most is to develop the product using streams of low-value hydrocarbon that are heavier.

Global Needle Coke Market:  Key trends and driver

The global needle coke market is on an upward growth curve owing to various trends and drivers, prominent among which are spelled out below.

  • Demand for hybrid electric vehicles, or HEV, and Battery Electric Vehicles, or BEV, is rising for multiple reasons. One, as global warming is rising, governments are promoting use of these. Besides, as use of non-renewables sees a declining acceptance rate and reserves, the move to these electric vehicles is only natural and logical. It will help reduce carbon footprint as well as increase demand in the global needle coke market, as it is a primary raw material in manufacturing of graphite electrode, propelling it onto a high growth trajectory over the forecast period.
  • Expansion in production of steel, particularly in developed nations is also contributing to growth in the global needle coke market. This is particularly the case of North America and Europe.

Global Needle Coke Market:  Regional Analysis

Growth of a number of end use industries in the North American region along with improvement in the economies is improving the growth stats of steel production. Electric arc furnace (EAF) and other such technologies are also contributing to the growth of the global needle coke market by setting off the growth of mini mills which are significant in economies like that of the United States, where it accounts for 60% of domestic production.

However, it may be worth noting here that one of the most lucrative regions, growth wise, will be the Asia Pacific (APAC) and it will create opportunities that are worth the last buck, ready to be tapped into. The growth in the region will be attributable to government support towards reviving and promoting manufacturing.

Middle-east will also contribute significantly.

The report is segmented as presented below:

Grade

  • Super-premium
  • Premium-grade
  • Intermediate-grade

Application

  • Electrode
  • Silicon metals & ferroalloys
  • Carbon black
  • Rubber compounds

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TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?