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Published Date: 2017-11-20Number of Pages: 283

Needle Coke Market (Type - Petroleum Derived and Coal Tar Pitch Derived; Grade - Intermediate, Premium, and Super Premium; End-User - Steel, Aluminum Industry, Lithium Battery, Nuclear Power, and Aerospace) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2025

Global Needle Coke Market: Snapshot

The global needle coke market is anticipated to display steadfast growth in the upcoming years owing to the growth of a number of end-use industries. The recycling and melting of scrap metal to produce recycled steel is influencing the market’s growth. This is because needle coke is employed in the manufacture of graphite electrodes that are used in electric arc furnace in steel making. Further, several countries in the world are increasingly switching from induction furnace to electric arc furnaces (EAF) because of the polluting nature of the former.

The increasing demand for aluminum to serve a large number of end-use industries is also positively impacting the needle coke market. For example, the growth of electrical appliances industry and automobiles industry have upped aluminum production considerably.

A report by Transparency Market Research (TMR) estimates the global needle coke market to expand at a CAGR of 5.5% between 2017 and 2025, for the market’s valuation of US$953.8 mn in 2016 to become US$4,424.3 mn by 2025 end.

Global Needle Coke Market

Declining Crude Oil Prices Ups Demand for Petroleum based Needle Coke

The global needle coke market is segmented on the basis of type, grade, end-user, and region in this report. In terms of type, petroleum derived and coal tar pitch derived are the segments into which the needle coke market is divided. Of the two, petroleum derived needle coke accounts for the leading market share as it can withstand high temperatures in steel production and is relatively less detrimental to the environment. The decline in crude oil prices globally has further upped the demand for petroleum derived needle coke.

Based on grade, the needle coke market is bifurcated into intermediate, premium, and super premium needle cokes. Amongst them, the intermediate segment holds substantial share in the overall market. This is mainly because of its high sulfur content which is close to 0.1%w, and comparatively higher coefficient of thermal expansion than premium and super premium needle cokes. On the other hand, premium grade needle coke has sulfur content below 0.1%w followed by super premium needle coke with less than 0.01%w sulfur content.

The segments into which the global needle coke market is segregated based on geography are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Amongst all, in 2016, North America held supremacy in the needle coke market. The region recorded leading steel production employing electric arc furnace process until 2016. Thus, needle coke production is high in this region.

Vast Use of Electric Arc Furnace Process for Steel Making Makes Asia Pacific Key Market

Asia Pacific and Europe stood as significant markets for needle coke in 2016. Countries such as Germany, France, and the U.K. registered significant steel production via electric arc furnace process until 2016. Needle coke is used in the manufacture of graphite electrodes that are indispensable in electric arc furnace and ladle furnace steel production routes.

Also, India and China recorded substantially high production of steel via electric arc furnace until 2016. India’s estimated share of steel production via EAF is 60% in 2017. This indicates the needle coke market in Asia Pacific is steered by the steel industry.

In Latin America, Peru and Chile account for significant contribution to the needle coke market due to vast resources for mining activities.

Key companies operating in the global needle coke market include include Mitsubishi Chemical Corporation, Indian Oil Corporation Ltd., Philips 66, JXTG Holdings Inc., Seadrift Coke LP, C-Chem Co.Ltd., PETROLEUM COKE INDUSTRIES CO. (K.S.), Baotailong New Material Co. Ltd., Bao-steel Group, Sinopec Shanghai Petrochemical Company Limited, Shanxi Hongte Coal Chemical Co. Ltd., Sinosteel Anshan Research Institute of Thermo-Energy Co. Ltd., Petrochina International Jinzhou Petrochemical Co. Ltd., and Shijiazhuang Deli Chemical Co.

Global Needle Coke Market: Overview

Needle Coke is a premium grade, high-value, petroleum coke employed in the manufacture of graphite electrodes of very low thermal expansion coefficient for the electric arc furnaces in the steel industry. Only a few companies in the world manufacture needle coke. Production of needle coke involves specific feedstocks, coking environments, and calcination settings. The hardware components employed are similar to that of conventional delayed coker unit. Any heavier streams in the refinery and particularly with low sulfur content are considered as the feed, depending on the type of hydrocarbon molecules present.

The Asia Pacific region is estimated to hold a significant share of the needle coke market due to the rise in demand for steel and increased mining activities in China and India. The market in North America is anticipated to expand at a considerable pace during the forecast period due to higher demand for needle coke from India, China and other countries in Asia for superior needle coke in steel production including Russia. Needle coke has a direct impact on determining the prices of graphite since there is a direct correlation between steel production through EAF and graphite prices. Needle coke is majorly petroleum derived, and hence, prices can fluctuate significantly as it’s oligopolistic in nature.

Global Needle Coke Market: Research Methodology

Primary research represented the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities

Secondary research sources which were typically referred to, but are not limited to, include: company websites, annual reports, financial reports,  internal and external proprietary databases as well as relevant patent and regulatory database, national government documents, market reports, news articles, press releases, industry magazines, webcasts specific to companies operating in the market, and regulatory databases such as Factiva and Bloomberg, national government documents, statistical databases, and webcasts specific to companies operating in the Needle Coke market.

We conduct primary interviews on an ongoing basis with mining industry participants and commentators to validate data and analysis. Primary and secondary research were conducted to understand and arrive at trends, which were employed to carry out forecasts for the needle coke market. These help validate and strengthen secondary research findings. These also help develop the analysis, team’s expertise and market understanding.

Global Needle Coke Market: Competitive Landscape

Key major players operating in the needle coke market include Mitsubishi Chemical Corporation, Indian Oil Corporation Ltd., Phillips 66, JXTG Holdings, Inc.,  Seadrift Coke LP, C-Chem CO., LTD., PETROLEUM COKE INDUSTRIES CO. (K.S.C), Baotailong New Material Co., Ltd., Bao-steel Group, Sinopec Shanghai Petrochemical Company Limited, Shanxi Hongte Coal Chemical Co Ltd., Sinosteel Anshan Research Institute of Thermo-Energy Co., Ltd., Petrochina International Jinzhou Petrochemical Co., Ltd., and Shijiazhuang Deli Chemical Co.

Global Needle Coke Market has been segmented as follows:

  • Global Needle Coke Market: by Type
    • Petroleum Derived
    • Coal Tar Pitch Derived
  • Global Needle Coke Market: by Grade
    • Intermediate
    • Premium
    • Super Premium
  • Global Needle Coke Market: by End-User
    • Steel Industry
    • Aluminum Industry
    • Lithium Battery
    • Nuclear Power
    • Aerospace
    • Others (Electric Carbon Brush, etc.)
  • Global Needle Coke Market: by Region
    • North America
      • U.S.
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Europe
      • France
      • Germany
      • Russia
      • Turkey
      • U.K.
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • ASEAN
      • Rest of Asia Pacific
    • Middle East & Africa
      • GCC
      • South Africa
      • Rest of Middle East and Africa


 
 
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