ALBANY, New York, November 22, 2017 /PRNewswire/ --
Transparency Market Research has released a new market report titled "Needle Coke Market By Type (Petroleum Derived And Coal Tar Pitch Derived) By Grade (Intermediate, Premium, And Super Premium) By End-User (Steel, Aluminum Industry, Lithium Battery, Nuclear Power, Aerospace, And Others) And By Region (North America, Europe, Asia Pacific And Rest Of The World) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2025." According to the report, the global Needle Coke market revenue was US$ 953.8 Mn in 2016 and is projected to reach US$ 4,424.3 Mn by 2025 at a CAGR of 5.5% from 2017 to 2025.
Needle Coke is a premium grade, high-value, petroleum coke employed in the manufacture of graphite electrodes of very low thermal expansion coefficient for the electric arc furnaces in the steel industry. Only a few companies in the world manufacture needle coke. Production of needle coke involves specific feedstocks, coking environments, and calcination settings. The hardware components employed are similar to that of conventional delayed coker unit. Any heavier streams in the refinery and particularly with low sulfur content are considered as the feed, depending on the type of hydrocarbon molecules present.
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The global graphite industry has witnessed a downfall of a several tons of needle coke, in terms of production due to the consolidation of the world's top manufacturers for the last three years till 2016. The major reason for consolidation of top needle coke manufacturing companies is to improve profitability by curbing high cost of operations. China has witnessed remarkable increase in both production and consumption of aluminum. It accounts for nearly 50% of the consumption and production of aluminum, worldwide. Aluminum is considered as the metal of the future, as it finds increasing application in high-tech manufacturing and transportation. Rising demand for automobiles and other electronic appliances in China has led to the increase in aluminum production in the country.
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The electrode prices move in tandem with crude oil fluctuations. Needle coke approximately involves 40% of production cost of graphite electrodes. Furthermore, the needle coke market is oligopolistic in nature, the manufacturers can therefore look to increase the prices. Needle coke has a direct impact on determining the prices of graphite since there is a direct correlation between steel production through EAF and graphite prices. Needle coke is majorly petroleum derived, and hence, prices can fluctuate significantly as it's oligopolistic in nature.
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In 2016, Asia Pacific and Europe held significant share of needle coke market. This trend is estimated to hold a significant share of the needle coke market due to the rise in demand for steel and increased mining activities in China and India. The market in North America is anticipated to expand at a considerable pace during the forecast period due to higher demand for super premium grade needle coke for steel, aluminium and nuclear power industries.
Key major players operating in the needle coke market include Mitsubishi Chemical Corporation, Indian Oil Corporation Ltd., Phillips 66, JXTG Holdings, Inc., Seadrift Coke LP, C-Chem CO., LTD., PETROLEUM COKE INDUSTRIES CO. (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., Ltd., Petrochina International Jinzhou Petrochemical Co., Ltd., and Shijiazhuang Deli Chemical Co.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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SOURCE Transparency Market Research