A surge in the use of graphite electrodes in the steel industry globally is expected to result into promising growth opportunities in the global petroleum needle coke market during the forecast period of 2021 to 2031.
An upcoming study by Transparency Market Research (TMR) delivers thorough analysis of major factors influencing the growth trajectory of the global petroleum needle coke market. Hence, this report provides comprehensive assessment of important facets such as the growth drivers, current and historical trends, challenges, R&D projects, and expansion opportunities in the market for petroleum needle coke. In addition, it offers reliable data on the production, sales, volume, revenues, and shares of the global petroleum needle coke market.
The report on the global petroleum needle coke market is presented in the form of various segments, which are based on several important parameters including type, application, and region. In terms of type, the market for petroleum needle coke is classified into middle-sulfur petroleum needle coke, low-sulfur petroleum needle coke, and high-sulfur petroleum needle coke.
Petroleum needle coke refers to a needle-shaped carbon material manufactured using a technique in which raw petroleum coke (which is a solid carbon obtained from cracking of heavy oil) is heated. The product finds main application as an aggregate of artificial graphite electrodes in the electric arc furnaces intended for the iron manufacturing industry, according to a TMR study on the global petroleum needle coke market.
Petroleum needle coke finds application in ultra-high power electrode and special carbon materials. The global petroleum needle coke market is prognosticated to gain sizable growth opportunities during the forecast period. This growth is attributed to factors such as a rise in the demand for steel from varied end-use industries including transport, automotive, electrical engineering, building & construction, foil & packaging, consumer goods, and machinery & equipment.
The nature of the global petroleum needle coke market seems to be fairly fragmented. The existence of considerable number of players makes the competition levels in the market for petroleum needle coke intense. This scenario is encouraging companies from the petroleum needle coke market to execute organic as well as inorganic strategies including mergers, acquisitions, partnerships, and collaborations in order to maintain their leading market positions.
Companies in the petroleum needle coke market are allocating sizable amount of money and time in R&D projects. These efforts are helping enterprises to develop innovative and superior quality products. This, in turn, is supporting in the expansion of the petroleum needle coke market.
The list of key players in the global petroleum needle coke market includes:
Based on region, the global petroleum needle coke market shows existence in many regions such as North America, Europe, Asia Pacific, and Middle East and Africa. Among all, Asia Pacific seems to be one of the fastest growing regions in the market for petroleum needle coke.
The growth of the Asia Pacific petroleum needle coke market is ascribed to many factors including the presence of many emerging economies, industrial development in nations such as India and China, and rise in the demand for steel in this region. Moreover, rise in the number of infrastructure development projects is estimated to generate profitable prospects in the Asia Pacific petroleum needle coke market in the years to come.
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Petroleum Needle Coke Market
*86 figures and 60 tables includes