Needle Coke Market Size, Share, and Growth Analysis, By Product Type (Petroleum-Based Needle Coke, Shaft Calciner), By Grade (Premium Grade, Intermediate Grade), By Application, By End Use, By Region - Industry Forecast 2025-2032
Sinopec Shanghai Petrochemical Company Limited(China)
Shanxi Hongte Coal Chemical Co Ltd.(China)
Sinosteel Anshan Research Institute of Thermo-Energy Co.(China)
Petrochina International Jinzhou Petrochemical Co., Ltd.(China)
Shijiazhuang Deli Chemical Co.(China)
Petroleum Coke Industries Company K.S.C.(Kuwait)
Petrocokes Japan Ltd.(Japan)
Asbury Carbon Inc.(USA)
Sumitomo Chemical Company(Japan)
JXTG Nippon Oil & Energy Corp.(Japan)
Sojitz Ject Corp.(Japan)
HEG Limited(India)
POSCO(South Korea)
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Needle Coke Market size was valued at USD 5.6 billion in 2023 and is poised to grow from USD 6.23 billion in 2024 to USD 14.56 billion by 2032, growing at a CAGR of 11.2% during the forecast period (2025-2032).
The global surge in steel production and the increasing use of graphite electrodes in electric arc furnaces (EAF) are driving a strong demand for needle coke in the coming years. Additionally, the rising application of needle coke in battery electrode production presents fresh opportunities for suppliers. Continued investments in urbanization and industrialization are poised to enhance the market outlook for needle coke. The demand for high-quality steel and carbon products from sectors like automotive, aerospace, and construction further supports revenue growth. Furthermore, advancements in production technologies will create favorable conditions for needle coke companies through 2031. However, challenges such as raw material price volatility, high production costs, and competition from alternatives may impede manufacturers in this sector.
Top-down and bottom-up approaches were used to estimate and validate the size of the Needle Coke market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Needle Coke Market Segments Analysis
Global Needle Coke Market is segmented by Product Type, Grade, Application, End Use and region. Based on Product Type, the market is segmented into Petroleum-Based Needle Coke, Shaft Calciner, Coal-Based Needle Coke and Rotary Kiln. Based on Grade, the market is segmented into Premium Grade, Intermediate Grade and Super-Premium Grade. Based on Application, the market is segmented into Rubber Compounds, Silicon Metal And Ferroalloys, Lithium-Ion Anode, Graphite Electrodes, Carbon Black and Others. Based on End Use, the market is segmented into Aerospace & Defence, Automotive, Aluminium And Steel Industry, Semiconductor and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Needle Coke Market
The growing demand for lithium-ion batteries and other battery types, driven by the advancing electrification across various industries, is anticipated to significantly boost needle coke sales in the coming years. Needle coke serves as an essential raw material in the manufacturing of graphite anodes and electrodes, which are vital components of these batteries. As industries increasingly shift towards electric solutions, the need for quality needle coke will rise, positioning it as a key driver in the market. This demand surge will likely enhance the overall market dynamics and encourage further investments in needle coke production and innovation.
Restraints in the Needle Coke Market
The Needle Coke market faces significant constraints due to the inherent volatility in the prices of petroleum-based products, from which needle coke is typically derived. Such price fluctuations can adversely affect the profitability of needle coke suppliers, leading to inconsistent supply chain dynamics throughout the market study period and potentially beyond. This instability not only hampers the overall growth potential of the Needle Coke market but also raises concerns regarding supply continuity for manufacturers reliant on this essential material. Consequently, these factors collectively pose a challenge for industry players aiming to navigate the market effectively.
Market Trends of the Needle Coke Market
The Needle Coke market is witnessing a significant upward trend driven by the rising sales of electric vehicles (EVs). As the automotive industry pivots towards electrification, the demand for lithium-ion batteries, which utilize needle coke for their anodes and cathodes, is surging. This shift presents a lucrative opportunity for needle coke suppliers to collaborate with battery manufacturers and broaden their market reach. With the global emphasis on sustainability and reduced carbon emissions, the interplay between EV adoption and needle coke utilization is set to redefine market dynamics, laying the groundwork for robust growth and innovation in the needle coke sector in the years to come.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Drivers & Opportunities
Restraints & Challenges
Porters Analysis
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2024
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Global Needle Coke Market Size by Product Type & CAGR (2025-2032)
Market Overview
Petroleum-Based Needle Coke
Shaft Calciner
Coal-Based Needle Coke
Rotary Kiln
Global Needle Coke Market Size by Grade & CAGR (2025-2032)
Market Overview
Premium Grade
Intermediate Grade
Super-Premium Grade
Global Needle Coke Market Size by Application & CAGR (2025-2032)
Market Overview
Rubber Compounds
Silicon Metal And Ferroalloys
Lithium-Ion Anode
Graphite Electrodes
Carbon Black
Others
Global Needle Coke Market Size by End Use & CAGR (2025-2032)
Market Overview
Aerospace & Defence
Automotive
Aluminium And Steel Industry
Semiconductor
Others
Global Needle Coke Market Size & CAGR (2025-2032)
North America (Product Type, Grade, Application, End Use)
US
Canada
Europe (Product Type, Grade, Application, End Use)
Germany
Spain
France
UK
Italy
Rest of Europe
Asia Pacific (Product Type, Grade, Application, End Use)
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America (Product Type, Grade, Application, End Use)
Brazil
Rest of Latin America
Middle East & Africa (Product Type, Grade, Application, End Use)
GCC Countries
South Africa
Rest of Middle East & Africa
Competitive Intelligence
Top 5 Player Comparison
Market Positioning of Key Players, 2024
Strategies Adopted by Key Market Players
Recent Developments in the Market
Company Market Share Analysis, 2024
Company Profiles of All Key Players
Company Details
Product Portfolio Analysis
Company's Segmental Share Analysis
Revenue Y-O-Y Comparison (2022-2024)
Key Company Profiles
Phillips 66 (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Mitsubishi Chemical Corporation (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Indian Oil Corporation Limited (India)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Baosteel Group (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
C-Chem Co., Ltd. (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Seadrift Coke L.P. (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Sinopec Shanghai Petrochemical Company Limited (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Shanxi Hongte Coal Chemical Co Ltd. (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Sinosteel Anshan Research Institute of Thermo-Energy Co. (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Petrochina International Jinzhou Petrochemical Co., Ltd. (China)