Needle Coke market projected to reach $9.7 billion by 2032, driven by demand for electrodes.
From GlobeNewswire: 2025-02-20 10:00:00
The Needle Coke market is projected to reach $9.7 Billion by 2032, with a CAGR of 8.2%. Demand is driven by electrode manufacturing for lithium-ion batteries and EVs, as well as consumer interest in health supplements and beauty products. Manufacturing advancements are lowering costs and improving product quality, fueling market potential.
Key players in the Needle Coke market include GrafTech International, JFE Chemical Corporation, and Mitsubishi Chemical Corporation, among others. Super-premium grade needle coke held a 54% market share in 2023, favored for its thermal stability and purity in steel production. Electrode applications dominated the market in 2023, with a 48% share.
Asia Pacific accounted for 54% of the revenue share in 2023, driven by industrialization and EV growth. China, the world’s largest steel producer, is increasing production for efficient use in electric arc furnaces. The region’s increasing mobility for electricity and Li-ion batteries is boosting needle coke demand.
In February 2023, POSCO Chemical opened a new plant for artificial graphite anodes, highlighting the importance of needle coke in electric vehicle batteries. The market report covers market size, grade segmentation, application breakdown, regional analysis, and company profiles, providing insights for decision-making. 1. The stock market saw a significant drop today, with the S&P 500 falling by 2.5% and the Dow Jones Industrial Average down by 600 points. This decline was driven by concerns over rising inflation rates and potential interest rate hikes by the Federal Reserve.
2. In political news, President Biden signed a new executive order aimed at promoting competition in various industries, including healthcare, technology, and agriculture. The order includes measures to lower prescription drug prices, increase internet access, and promote small businesses.
3. The Tokyo Olympics have officially begun, with the opening ceremony taking place in a mostly empty stadium due to COVID-19 restrictions. The games will feature over 11,000 athletes from 206 countries competing in 33 different sports over the next two weeks.
4. In environmental news, a new study has found that global temperatures are on track to exceed the 1.5 degree Celsius limit set by the Paris Agreement within the next decade. This could lead to more frequent and severe heatwaves, droughts, and other extreme weather events.
5. A new report from the World Health Organization has revealed that over 3 million people worldwide died from alcohol-related causes in 2020. This represents a significant increase from previous years, with alcohol consumption linked to a wide range of health issues including liver disease, cancer, and mental health disorders.
Read more at GlobeNewswire: Needle Coke Market to Reach USD 9.7 Billion by 2032