Asia Pacific Needle Coke Market Key Players, Types, Applications (2035)
The Asia Pacific needle coke market is to generate the highest revenue by the end of 2035.
Increasing Demand for Lithium-Ion Batteries to Promote Global Market Share of Needle Coke
To accommodate the growing demand for lithium-ion batteries, producers of needle coke are quickly expanding their manufacturing capacities. In order to make carbon anodes, the producers are also improving their production methods. It is becoming more and more feasible for these carbon anodes to replace natural graphite as a result of technological advancements and improvements in carbon anode quality.
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Additionally, the graphite electrodes have better physical qualities than other materials such less spalling and fracture, maximum electrical resistance, and low heat expansion. The popularity of graphite electrodes is being fueled by these considerations.
Some of the major growth factors and challenges that are associated with the growth of the global needle coke market are:
Growth Drivers:
· Growing Steel Recycling Market Demand
· Increased Technological Advancements
Challenges:
The variation in price of materials required for the manufacturing of needle coke is greatly impacted by the volatility in crude oil prices. Therefore, it is anticipated that changes in the cost of resources and goods may impede market expansion.
For example, China’s strict environmental regulations have essentially shut down 30% of its ability to produce graphite electrodes and have restricted output in various regions, tightening the screws on industrial operations that emit pollution.
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By application, the global needle coke market is segmented graphite electrodes, lithium-ion battery, and special carbon material. Among the three, graphite electrodes market is expected to garner the highest revenue during the forecast period. The use of petroleum-based needle coke for making graphite electrodes is relatively high. Graphite electrodes must be utilized in the manufacturing of steel and other nonferrous metals through an electric arc furnace and a ladle furnace. It is utilized in a variety of battery types, including cathodic protection, welding, electroplating or electrolysis, and so forth. The better physical characteristics of graphite electrodes are less spalling and fracture, maximum electrical resistance, and minimal heat expansion. The popularity of graphite electrodes is being fueled by these considerations.
China accounted for more than 70% of global consumption and manufacturing capacity for graphite electrodes, which suggests that steel production is now practical in this nation. This further demonstrates that there would be a rising demand for needle coke during the predicted period. In addition, the Chinese government is working to create steel production techniques that are environmentally benign. Japan is a significant producer and an exporter of pitch needle coke made from coal tar and petroleum.
North America is also expected to hold significant share in the market. The market for petroleum-based needle coke is anticipated the drive the growth. Also, increasing utilization of specialty carbon materials, and increased production of graphite electrodes. Additionally, the market of North America is estimated to grow with the CAGR of 7% over the forecast period owing to the increasing development and producing competent and reasonable electric vehicle battery systems.
This report also provides the existing competitive scenario of some of the key players of the global needle coke market which includes company profiling of Phillips 66 Company, Shandong Yida Rongtong Trading Co., Ltd., Shanxi Hongte Coal Chemical Co. Ltd., Mitsubishi Chemical Holding Corporation, Bao Steel Group, PetroChina International Jinzhou Petrochemical Co., Ltd, Petrocokes Japan Ltd., ENEOS Holdings Inc., GrafTech International Holdings Inc. and others.
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