This report provides exclusive insights into the COVID-19 impact on the Needle Coke Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Needle Coke Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Needle Coke Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on needle coke market provides an in-depth analysis of segments and sub-segments in global as well as regional needle coke market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional needle coke market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global needle coke market. According to report, the global needle coke market is projected to grow at a CAGR of 5% over the forecast period of 2018-2024.
Needle coke is premium grade high value petroleum coke used in the manufacturing of graphite electrodes with a very low coefficient of thermal expansion for electric arc furnaces in the steel industry. Coke has a relatively very low volatile matter content that suits it for better fuel. Production of needle coke demands specific feedstock, calcination conditions and coking conditions. Needle cokes are used as a primary material for an electrode used in an electric steel furnace that melts and refines steel scrap. The main advantage of needle coke is that it does not require special design of Delayed Coker unit and can produce Needle Coke in an existing unit without major modification.
Growing demand for the product in the steel industry, growing demand for Lithium-ion batteries and development of efficient and advanced technology are the major factors driving the growth of the needle coke market. For instance, Indian Oil research & development has developed a technology for production of Needle Coke from low value heavier hydrocarbon streams without any major feed pre-treatment. In addition, superior properties such as low coefficient of thermal expansion, puffing rate, and large particle size are fuelling the growth of the market. However, insecurity in the global crude oil and natural gas markets owing to demand & supply fluctuations is a major restraint for needle coke market growth. Furthermore, growing refinery parameters owing to increasing needle coke prices is supposed to hike production capabilities particularly in emerging economies such as China, India, and Brazil this, in turn, is anticipated to create several growth opportunities in the needle coke market.
Among the geographies, Asia Pacific dominated the global needle coke market. China is anticipated to be the largest consumer market for needle coke and is anticipated to witness significant growth in increasing steel and aluminum industries. Presence of a large number of graphite electrode manufactures has made European regions to increase the demand for needle coke. Majority of the needle coke in Europe is imported from Japan and China. The world’s largest manufacturer of needle coke is Conoco Phillips (Phillips 66). Moreover, North America is estimated to have the fastest growth due to technological advancements in the region and average demand over the foreseeable.
The report on global needle coke market covers segments such as applications. On the basis of applications, the global needle coke market is categorized into graphite electrode manufacturing, lithium-ion batteries and others (specialty carbons).
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global needle coke market such as, Phillips 66, Mitsubishi Chemical Corporation, Indian Oil Corporation Ltd, JXTG Holdings, Inc, Seadrift Coke LP, Sinopec Shanghai Petrochemical Company Limited, Baosteel Group, Petrocokes Japan Ltd., Sinosteel Anshan Research Institute of Thermo-Energy Co., Ltd. and Fangda Carbon New Material Co. Ltd.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global needle coke market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of needle coke market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the needle coke market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the needle coke market to understand the present and future trends in this market and formulate their strategies accordingly.