The rising trend of electric vehicles (EVs) is expected to drive the consumption of needle coke in batteries. Needle coke is a high-quality form of petroleum coke that is used to manufacture graphite electrodes, which are essential components in the production of lithium-ion batteries used in EVs. Graphite electrodes made from needle coke have higher thermal and electrical conductivity, making them more efficient in storing and releasing energy than traditional graphite electrodes. As EVs gain popularity, the demand for lithium-ion batteries is expected to rise significantly, which will, in turn, increase the demand for needle coke.

The demand for needle coke in the battery industry is also driven by the increasing demand for energy storage solutions in renewable energy systems, such as solar and wind power, which require large-scale batteries for energy storage. Additionally, the use of needle coke in other applications, such as steel production, is also driving demand for the material. However, the production of needle coke is a complex and costly process, and there is limited global production capacity, leading to potential supply chain challenges as demand increases. As a result, companies in the needle coke market, such as Phillips 66, Seadrift Coke LP, and Mitsubishi Chemical Corporation, are investing in expanding production capacity and developing new technologies to meet the increasing demand for needle coke.

Overall, the rising trend of EVs is expected to be a significant driver of demand for needle coke in batteries, and as the EV market continues to grow, the demand for needle coke is expected to rise further.

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Key findings of the Needle Coke market study:

The report provides a present market outlook on Needle Coke. Additionally, the Needle Coke market share is anticipated to grow with a CAGR of 3.7% in the forecast period.
Regional breakdown of the Needle Coke market based on predefined taxonomy.
Innovative manufacturing processes implemented by Needle Coke vendors in detail.
Region-wise and country-wise fragmentation of the Needle Coke market to grasp the revenue, and growth outlook in these areas.
Changing preferences among consumers across various regions and countries.

Factors (Positive and Negative) impacting the growth of the global Needle Coke market.
Needle Coke price, market share, and Trends forecast for assessment period 2022-2032

Key Segments Covered in Needle Coke Industry Research

Needle Coke Market by Type :
- Petroleum-derived Needle Coke
- Coal Tar Pitch-derived Needle Coke
Needle Coke Market by Grade :
- Intermediate Premium Needle Coke
- Base Premium Needle Coke
- Super Premium Needle Coke
Needle Coke Market by Application :
- Graphite Electrodes
- Lithium-ion Batteries
- Other Applications
Needle Coke Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA

What makes this Research different from others?

COVID- Impact analysis- The report includes details of the impact of the pandemic on the Needle Coke market further including insights on the pre-COVID situation. Additionally, this report benefits in terms of post-COVID recovery prospects, changing consumer demands, and buying patterns valuable for Needle Coke companies.
Industrial trend analysis- The research covers recent trends in the field of Needle Coke which are augmented with the applicable technologies and shifts in industrial processes. The scope for digital and industrial technologies is discussed in order to help client firms to understand the benefits and risks included in light of market trends.
Needle Coke Sustainability metrics- The rising concerns of environmentally friendly production and consumption are taken to next level in this research, as research is focused on emerging methods of ensuring sustainability. These insights include climate-friendly initiatives adopted by some players in the industry. Furthermore, details of manufacturers’ impact on carbon footprint are evaluated intend to make clients aware of their contribution to sustainable development goals.

Competitive Landscape

The Needle Coke industry is dominated by some prominent players including

Mitsubishi Chemical Holding Corporation
Indian Oil Corporation
Phillips 66
JXTG Holdings Inc.
Seadrift Coke L.P.

C-Chem Co., LTD
Petroleum Coke Industries Company K.S.C
Baotailong New Material Co., Ltd.
Bao-steel Group

Sinopec Shanghai Petrochemical Company Limited
Shanxi Hongte Coal Chemical Co Ltd
Sinosteel Anshan Research Institute of Thermo-Energy Co.
Petrochina International Jinzhou Petrochemical Co., Ltd

Shijiazhuang Deli Chemical Co.
Petrocokes Japan Ltd.

The competition in the sector is driven by key parameters such as product price, targeted customer base, and strategic marketing. Major players in the market focused on the Needle Coke market innovation by investing more in research and development. Furthermore, the industry players are focusing on the extensive usage of online distribution channels for enhanced cost-effectiveness. The sustainability in the supply chain is a decisive factor for Needle Coke brands leading to an impact on the margin profits of firms.

Report Benefits & Key Questions Answered

Needle Coke Company & brand share analysis: Company and brand share analysis on Needle Coke reveals how much market share is captured by Tier 1, Tier 2, and Tier 3 players
Needle Coke Historical volume analysis: The industry analysis provides data & insights on historical volume sales of Needle Coke
Needle Coke Category & segment level analysis: Fact.MR’s Needle Coke sales outlook offers category and segment level analysis on lucrative and nascent product types. Market players can use this information to identify sales potential and set sales targets at local, country, and regional level.
Needle Coke Consumption by demographics: The market intelligence study provides consumption by demographics analysis so market players can design their product and marketing strategies on the basis of high-value consumers
Post COVID consumer spending on Needle Coke: The report includes post COVID consumer spending analysis. This information will help business leads understand the shifts in purchasing power and behavior

Manufacturing trend analysis: Vital information on how market players are aligning their manufacturing strategies with respect to evolving consumer sentiments

Rising Trend of Electric Vehicles to Drive Needle Coke Market