Market Size of Needle Coke Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 2.14 Million metric tons |
| Market Volume (2029) | 3.79 Million metric tons |
| CAGR (2024 - 2029) | 12.07 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Needle Coke Market Analysis
The Needle Coke Market size is estimated at 2.14 Million metric tons in 2024, and is expected to reach 3.79 Million metric tons by 2029, growing at a CAGR of 12.07% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the needle coke market. During the pandemic, the manufacturing of graphite electrodes was heavily impacted due to less demand from the steel manufacturing plants, which reduced the consumption of needle coke. After 2020, the market expanded steadily because of the continuous manufacturing of graphite electrodes.
- Over the short term, the major factors driving the growth of the market studied are the increasing investments in EAF steel manufacturing and the government policies to increase scrap steel consumption.
- On the flip side, health hazards associated with petroleum coke act as a roadblock to the growth of the needled (petroleum-based) coke market.
- An increase in lithium-ion battery production globally is likely to act as an opportunity for the market studied during the forecast period.
- Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.
