Needle Coke Market To Reach USD 5.85 Billion By 2027
Market Summary Growth of the iron & steel industry, especially in the APAC region is one of the significant factors influencing the market growth. Market Size – USD 3.59 billion in 2019, Market Growth - CAGR of 6.4%, Market Trends – Escalating demand for lithium-ion batteries The global needle coke market is expected to reach USD 5.85 Billion by 2027, according to a new report by Reports and Data. Needle coke is a high technology-intensive product and is primarily used in the production of graphite electrodes. The demand for lithium-ion batteries, mainly driven by the growing popularity of hybrid electric vehicles (HEV), battery electric vehicles (BEV), laptops, and smart devices, as well as growth of the steel industries (requiring graphite electrodes for arc furnaces), especially in the Asia Pacific region, among other factors, are causative for the growth of the market. Further key findings from the report suggest : • The market in the Asia Pacific region held the largest market share in 2019 and projected to have a CAGR of 7.4% in the period 2020-2027. The market dominance of the region is owing to the growing infrastructure and growth of the manufacturing sector. • In August 2018, Baosteel Chemical Co. Ltd and Fangda Carbon collaborated to jointly set up a UHP (Ultra-High Power) grade graphite electrode production plant called ‘Boafang Carbon Material Technology Co. Ltd’. www.reportsanddata.com
Key Players: Phillips 66, Mitsubishi Chemical Corporation, Graftech International, Sumitomo Chemical Company, Indian Oil Corporation Limited, China National Petroleum Corporation, Asbury Carbon Inc., Baosteel Group, Sojitz Ject Corporation, and Graphite India Limited, among others. Segmentation: • Product Type Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027) Coal-Based Needle Coke Petroleum-Based Needle Coke • Grade Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027) Super-Premium Grade Premium Grade Intermediate-Premium Grade • Application Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027) Electrodes Silicon Metal & Ferroalloys Carbon Black Rubber Compounds Others www.reportsanddata.com
Regional Needle Coke Market (Regional Output, Demand & Forecast by Countries):• North America (United States, Canada, Mexico) • South America (Brazil, Argentina, Ecuador, Chile) • Asia Pacific (China, Japan, India, Korea) • Europe (Germany, UK, France, Italy) • Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) and More.
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Major highlights of the report: • An all-inclusive evaluation of the parent market • The evolution of significant market aspects • Industry-wide investigation of market segments • Assessment of the market value and volume in the past, present and forecast years • Market share evaluation • Study of niche industrial sectors • Tactical approaches of the market leaders • Lucrative strategies to help companies strengthen their position in the market
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