The trending report published by Crystal Market Research titled, Needle Coke Market, approximates that the Needle Coke market size is estimated to flourish at a significant CAGR in the future, and this is attributed to the escalation in need for this product across the globe along with novel innovations in the market.
Market Overview:
The Needle Coke Market was worth USD 0.97 billion in the year 2014 and is expected to reach approximately USD 1.61 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 5.74% during the forecast period. The worldwide needle coke market is anticipated to encounter a critical development over the figure time frame. The market is anticipated to be impacted by rising demand in steel recycling and rising demand for petroleum-based coke across the globe. Needle coke is a top notch review of oil coke, which is utilized as a part of assembling of graphite cathodes for bend heaters in steel industry..
Key Market Players:
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.
The worldwide needle coke market is segmented into Steel Industry, Aluminum Industry, Lithium Battery, Nuclear Power, Aerospace and other end users on the basis of end users. Steel industry section is expected to generate highest market share over the forecast period owing to the increasing demand of needle coke in the production of graphite electrodes in the steel industry. Aerospace section of the end user segment is expected to demonstrate highest growth rate in the upcoming years due to the increased application of needle coke in this sectors.
Regional Outlook:
North America held a significant share of the Needle Coke Market in 2014 due to the increasing application in steel industry and aerospace. The Asia-Pacific market has not experienced any substantial growth due to high pricing and low Government initiatives towards needle coke production, but can experience favorable growth in coming years owing to increasing in disposable income in the region.
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The Needle Coke Market is segmented as follows-
By Type:
Petroleum Derived
Coal Tar Pitch Derived
By Grade:
Intermediate
Premium
Super Premium
By End User:
Steel Industry
Aluminum Industry
Lithium Battery
Nuclear Power
Aerospace
Others End Users
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Report Magnitude:
This report contains Segment wise in-depth analysis in terms several above-mentioned segments along with market size forecasts and approximations to observe significant areas of industry growth in detail. Additionally, an executive summary, summarizing the entire report in such a way that decision-making team can speedily become familiar with background information, summarizing analysis and main conclusions.
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