Needle Coke Market
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Needle Coke Market is estimated to fuelling US$ XX Mn by 2026 in terms of revenue with CAGR of XX% in the forecasting period 2018-2026.
Needle coke is a needle-shaped carbon material. Needle coke is a top-notch review of oil coke, which is utilized as a part of the assembling of graphite cathodes for bend heaters in the steel industry. A decent nature of needle coke is hard and thick mass shaped with a structure of carbon strings. Needle coke is used in the production of graphite electrodes mainly used for the steel industry.
The rapid growth of new energy vehicles increases consumption of needle coke in lithium battery anode material. The demand was about 80kt in 2017 and is predicted to surpass 250kt in 2026. Increasing demand for steel recycling is presumed to augment Needle Coke Market growth over the foreseeable future. Increasing petroleum-based needle coke demand globally is anticipated to fuel market growth over the forecast period. Uncertainty in the global crude oil and natural gas markets owing to demand & supply fluctuations is a major restraint for Needle Coke Market growth. Limited global DCC capacities coupled with technological limitations is expected to negatively affect needle coke market growth over the next few years.
Needle Coke Market can be segmented by type, by grade, application, and region. On the basis of type, Coal tar is obtained as a by-product during the cooking process of low ash metallurgical coke. The petroleum derived segment accounted for more than 60% share of the market in 2017. In terms of grade, the super-premium grade has the lowest coefficient of thermal expansion (CTE), which makes it more suitable for the production of high-grade graphite electrodes. In terms of application, the graphite electrode segment held a major share of the market in 2017.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
On the basis of region, Asia Pacific market is expected to witness significant growth over the next few years owing to increasing steel and aluminum manufacturing industries in the region. The market in Europe is likely to expand at a significant pace in the near future.
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Last Update : 08 July 2020
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