Needle Coke Market Segmentation by Type (Petroleum-Based, and Coal-Based); by Grade (Intermediate, Premium, and Super Premium); by Application (Graphite Electrodes, Lithium-Ion Battery, Special Carbon Material, and Others); and by End-User Industry (Automotive, Semiconductor, Aluminum & Steel, and Others)-Global Demand Analysis & Opportunity Outlook 2020-2030

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    21 Oct 2022
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Impact Analysis on the Growth of Market

Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.



The Research Report is Updated with 2022 Base Year, 2023 Estimated year and Forecast till 2035 with Market Insights.

With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2022 as base year, 2023 as estimated year and forecast to 2035. This will have market drivers, recovery rate in the market, insights and competitive analysis.

Market Overview:

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Global Needle Coke Market Highlights Over 2020 - 2030

The global needle coke market is estimated to garner a revenue of USD 4085.6 Million by the end of 2030, by growing at a CAGR of 6.73% over the forecast period, i.e., 2021 – 2030. Moreover, the market generated a revenue of USD 2168.7 Million in the year 2020. The growth of the market can be attributed to rising demand for electric vehicles (EVs) globally, and therefore the increasing need for lithium-ion batteries. According to the statistics by the International Energy Agency (IEA), the global electric car stock of battery electric vehicles (BEVs) touched 4.79 Million in the year 2019, up from 0.72 Million in the year 2015. The manufacturers of lithium-ion batteries for EVs require needle coke as its unique crystalline structure makes it a good material for making electrodes. This specialty grade of pet coke is typically produced from a dedicated coker that uses low-sulfur FCC slurry as feedstock. Lithium-ion batteries are widely being used in EVs as these batteries can be recharged multiple times and are more stable when compared to other battery forms. Besides this, the Li-ion batteries also have a higher voltage capacity, higher energy density and lower self-discharge rate than other batteries which are rechargeable.


Global Needle Coke Market Size,




The market growth can also be attributed to the growing demand for steel recycling and graphite electrodes. According to the statistics by the World Steel Association, the production of crude steel around the globe increased from 189 Million Tonnes in the year 1950 to 1878 Million Tonnes in the year 2020. Needle coke is a vital component in the manufacturing process of steel. In an electric steel furnace that melts and refines steel scrap, needle coke is used a primary material for electrode that are used in these furnaces. The growth of the market can also be attributed to the increasing advancement in modernizing coking units and the surge in research and development investments for production technologies of steel.

Global Needle Coke Market Regional Synopsis

Regionally, the global needle coke market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific is expected to garner the largest revenue of USD 1809.1 Million by the end of 2030, up from a revenue of USD 937.1 Million in the year 2020. The growth of the market in the region can primarily be attributed to the presence of several countries in the region, such as China, India, and Japan, who are the largest producers of crude steel. In the other statistics by the World Steel Association, China ranked 1st in crude steel production worldwide with a registered production volume of 1064.8 Million Tonnes in the year 2020. India and Japan ranked 2nd and 3rd respectively with 100.3 Million Tonnes and 83.2 Million Tonnes production volume in the same year. The market in the region is further segmented by country into Australia, Japan, South Korea, India, China, and the Rest of Asia Pacific. The market in China is anticipated to garner the largest revenue of USD 811.9 Million by the end of 2030, up from a revenue of USD 415.3 Million in the year 2020.

Growth Drivers and Challenges Impacting the Growth of the Global Needle Coke Market

Growth Drivers

  • Rising Demand for Lithium-Ion Batteries for EVs

  • Growing Demand for Steel Recycling and Graphite Electrodes


  • Fluctuating Prices of Graphite Electrodes

Global Needle Coke Market Segmentation Synopsis

The global needle coke market is segmented by type into petroleum-based and coal-based, out of which, the petroleum-based segment is expected to garner the highest market share by the end of 2030 and also grow with the highest CAGR of 7.12% during the forecast period. By grade, the market is segmented into intermediate, premium, and super-premium. Out of these, the super-premium segment is projected to display the largest revenue of USD 2217.7 Million by the end of 2030, up from a revenue of USD 1072.8 Million in the year 2020. By application, the market is segmented into graphite electrodes, lithium-ion battery, and special carbon material. Out of these, the graphite electrodes segment is projected to garner the largest revenue of USD 2650.4 Million by the end of 2030, up from a revenue of USD 1421.2 Million in the year 2020. By end-user industry, the market is segmented into automotive, semiconductor, aluminum & steel, and others. Out of these, the aluminum & steel segment is projected to garner the largest revenue of USD 2622.9 Million by the end of 2030, up from a revenue of USD 1417.6 Million in the year 2020.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global needle coke market that are included in our report are Asbury Carbons Inc., NIPPON STEEL CORPORATION, ENEOS Holdings Co., Ltd., GrafTech International Ltd., Graphite India Limited, HEG Limited, Mitsubishi Chemical Holdings Corporation, Phillips 66 Company, Sojitz Corporation, Sumitomo Corporation, Tokai Carbon Co., Ltd., and others.

Latest Developments in the Global Needle Coke Market:

  • July 26th, 2021: GrafTech International Ltd. announced that it would open a new sales office in Chiba-shi, Japan. With this new office, the company aims to expand its services to the customers in Japan and also to contribute to its global sales.

  • August 9th, 2021: Phillips 66 announced that it has entered into an agreement with the Australia-based company, NOVONIX Limited, where Phillips 66 would acquire 66% of the stake. With this acquisition, the company aims to enhance its battery supply chain in the U.S.

Key Reasons to Buy Our Report

  • The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

  • It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

  • The report includes detailed company profiles of the major players dominating the market.

  • We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

  • We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook




1.      Market Definition

1.1.  Definition

1.2.Market Segmentation

2.     Assumptions and Acronyms

3.     Research Methodology

3.1. Research Process

3.2.                     Primary Research

3.3.                     Secondary Research

4.    Executive Summary – Global Needle Coke Market

5.     Market Dynamics

5.1. Market Drivers

5.2.                     Market Trends

6.    Key Market Opportunities

7.     Major Roadblocks for the Market Growth

8.    Regulatory & Standards Landscape

9.    Industry Risk Analysis

10.            Feedstock Analysis

11.  Key Feature Analysis by Type

12. Pricing Analysis of Needle Coke Market

13. Value Chain Analysis

14.Impact of COVID-19 on the Needle Coke Market

14.1.                  Impact on Manufacturers

14.2.                 Impact on Demand

14.3.                 Impact on Distributors & Suppliers

14.4.                 Impact on End-Users

15. Competitive Positioning

16.Competitive Landscape

16.1.                  Market Share Analysis, 2020

16.2.                 Competitive Benchmarking

16.2.1.                      Asbury Carbons Inc.

16.2.2.                     NIPPON STEEL CORPORATION

16.2.3.                     ENEOS Holdings Co., Ltd.

16.2.4.                     GrafTech International Ltd.

16.2.5.                     Graphite India Limited

16.2.6.                     HEG Limited

16.2.7.                     Mitsubishi Chemical Holdings Corporation

16.2.8.                     Phillips 66 Company

16.2.9.                     Sojitz Corporation

16.2.10.                Sumitomo Corporation

16.2.11.                  Tokai Carbon Co., Ltd.

17. Global Needle Coke Market, 2020-2030

17.1.                  Market Overview

17.2.                 By Value (USD Million)

17.3.                 Market Segmentation Analysis, 2020-2030

17.3.1.                       Type    Petroleum-Based, 2020-2030F (USD Million)   Coal-Based, 2020-2030F (USD Million)

17.3.2.                      Grade   Intermediate, 2020-2030F (USD Million)  Premium, 2020-2030F (USD Million)  Super-Premium, 2020-2030F (USD Million)

17.3.3.                      Application   Graphite Electrodes, 2020-2030F (USD Million)  Lithium-Ion Battery, 2020-2030F (USD Million)  Special Carbon Material, 2020-2030F (USD Million)  Others, 2020-2030F (USD Million)

17.3.4.                      End-Use Industry   Automotive, 2020-2030F (USD Million)  Semiconductor, 2020-2030F (USD Million)  Aluminum & Steel, 2020-2030F (USD Million)

17.3.5.                      Region   North America, 2020-2030F (USD Million)  Europe, 2020-2030F (USD Million)  Asia Pacific, 2020-2030F (USD Million)  Latin America, 2020-2030F (USD Million)  Middle East & Africa, 2020-2030F (USD Million)

18.            Cross Analysis of Application w.r.t. Type, 2020

19.Cross Analysis of End-Use Industry w.r.t. Type, 2020

20.           North America Needle Coke Market, 2020-2030

20.1.                Market Overview

20.2.               By Value (USD Million)

20.3.               Market Segmentation Analysis, 2020-2030

20.3.1.                     Type  Petroleum-Based, 2020-2030F (USD Million) Coal-Based, 2020-2030F (USD Million)

20.3.2.                   Grade Intermediate, 2020-2030F (USD Million)                        Premium, 2020-2030F (USD Million)                        Super-Premium, 2020-2030F (USD Million)

20.3.3.                   Application Graphite Electrodes, 2020-2030F (USD Million)                        Lithium-Ion Battery, 2020-2030F (USD Million)                        Special Carbon Material, 2020-2030F (USD Million)                        Others, 2020-2030F (USD Million)

20.3.4.                   End-Use Industry Automotive, 2020-2030F (USD Million)                        Semiconductor, 2020-2030F (USD Million)                        Aluminum & Steel, 2020-2030F (USD Million)

20.3.5.                    Country United States, 2020-2030F (USD Million)                        Canada, 2020-2030F (USD Million)

21. Europe Needle Coke Market, 2020-2030

21.1.                  Market Overview

21.2.                 By Value (USD Million)

21.3.                 Market Segmentation Analysis, 2020-2030

21.3.1.                      Type

21.3.2.                     Grade

21.3.3.                     Application

21.3.4.                     End-Use Industry

21.3.5.                     Country   United Kingdom, 2020-2030F (USD Million)  Germany, 2020-2030F (USD Million)  Italy, 2020-2030F (USD Million)  France, 2020-2030F (USD Million)  Spain, 2020-2030F (USD Million)  Russia, 2020-2030F (USD Million)  Netherlands, 2020-2030F (USD Million) Rest of Europe, 2020-2030F (USD Million)

22.           Asia Pacific Needle Coke Market, 2020-2030

22.1.                 Market Overview

22.2.                By Value (USD Million)

22.3.                Market Segmentation Analysis, 2020-2030

22.3.1.                     Type

22.3.2.                    Grade

22.3.3.                    Application

22.3.4.                    End-Use Industry

22.3.5.                    Country  Australia, 2020-2030F (USD Million), 2020-2030F (USD Million) Korea, 2020-2030F (USD Million), 2020-2030F (USD Million) China, 2020-2030F (USD Million) of Asia Pacific, 2020-2030F (USD Million)

23.           Latin America Needle Coke Market, 2020-2030

23.1.                 Market Overview

23.2.                By Value (USD Million)

23.3.                Market Segmentation Analysis, 2020-2030

23.3.1.                     Type

23.3.2.                    Grade

23.3.3.                    Application

23.3.4.                    End-Use Industry

23.3.5.                    Country  Brazil, 2020-2030F (USD Million), 2020-2030F (USD Million), 2020-2030F (USD Million) of Latin America, 2020-2030F (USD Million)

24.           Middle East & Africa Needle Coke Market, 2020-2030

24.1.                 Market Overview

24.2.                By Value (USD Million)

24.3.                Market Segmentation Analysis, 2020-2030

24.3.1.                     Type

24.3.2.                    Grade

24.3.3.                    Application

24.3.4.                    End-Use Industry

24.3.5.                    Country  GCC, 2020-2030F (USD Million), 2020-2030F (USD Million) Africa, 2020-2030F (USD Million) of MEA, 2020-2030F (USD Million)

25.            Analyst Review



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  1. Asbury Carbons Inc.
  3. ENEOS Holdings Co., Ltd.
  4. GrafTech International Ltd.
  5. Graphite India Limited
  6. HEG Limited
  7. Mitsubishi Chemical Holdings Corporation
  8. Phillips 66 Company
  9. Sojitz Corporation
  10. Sumitomo Corporation
  11. Tokai Carbon Co., Ltd.
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