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Needle Coke Market By Type (Petroleum Derived, Coal Tar Pitch Derived); By Application (Graphite Electrodes, Lithium-ion Batteries, Other Applications); By End User (Steel Industry, Aluminum Industry, Nuclear Power) – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Name: Needle Coke Market - Demand, Size and Competitive Analysis
Creator: Credence Research Inc.
Published: 2025-09-17
License: https://www.credenceresearch.com/info/privacy-policy
Keywords: Needle Coke Market

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Market Overview:

The Global Needle Coke Market size was valued at USD 3,301.4 million in 2018 to USD 4,363.9 million in 2024 and is anticipated to reach USD 6,728.8 million by 2032, at a CAGR of 5.62% during the forecast period.

REPORT ATTRIBUTE	DETAILS
Historical Period	2020-2023
Base Year	2024
Forecast Period	2025-2032
Needle Coke Market Size 2024	USD 4,363.9 million
Needle Coke Market, CAGR	5.62%
Needle Coke Market Size 2032	USD 6,728.8 million

The market is driven by rising demand for ultra-high-power graphite electrodes used in steel production through electric arc furnaces. Increasing adoption of lithium-ion batteries in electric vehicles further fuels the need for needle coke, as it is a critical raw material for synthetic graphite anodes. Growth in electronics and energy storage systems also supports demand. Technological advancements in refining and production processes enhance quality and cost-efficiency, encouraging widespread adoption. Stringent environmental regulations in steelmaking and battery industries continue to accelerate the shift toward needle coke utilization.

Geographically, Asia-Pacific dominates the market, led by China, India, and Japan due to strong steelmaking and battery manufacturing capacity. North America holds a significant share supported by established refining infrastructure and electric vehicle adoption. Europe continues to grow steadily, driven by energy transition policies and demand for advanced batteries. Emerging markets in Latin America and the Middle East show potential, with growing steel production and industrial development fostering future opportunities.

Market Insights:

The Global Needle Coke Market was valued at USD 3,301.4 million in 2018, reached USD 4,363.9 million in 2024, and is projected to hit USD 6,728.83 million by 2032, growing at a CAGR of 5.62%.
Asia Pacific held the largest share at 31.7% in 2024, followed by Europe at 26% and North America at 23.3%, driven by strong steelmaking capacity, EV adoption, and advanced refining infrastructure.
Asia Pacific is also the fastest-growing region, supported by industrial expansion in China, India, Japan, and South Korea alongside rapid growth in battery manufacturing.
In 2024, the steel industry accounted for around 36% of end-user demand, supported by growing adoption of electric arc furnaces.
The aluminum industry and nuclear power sectors contributed about 34% and 30% respectively, reflecting steady demand from energy-intensive industries and specialized applications.

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Market Drivers:

Rising Demand for Graphite Electrodes in Steel Manufacturing:

The Global Needle Coke Market benefits from strong demand for graphite electrodes, which are essential in electric arc furnace-based steelmaking. Growth in infrastructure and construction projects drives the need for steel, increasing electrode consumption. Needle coke offers superior properties such as low thermal expansion and high conductivity, making it the preferred choice for ultra-high-power electrodes. Electric arc furnaces reduce carbon emissions compared to blast furnaces, creating further adoption. It continues to support sustainability goals in global steel industries. Rising energy efficiency requirements also push manufacturers to prefer needle coke-based electrodes. The ongoing shift in emerging economies toward modern steelmaking technologies strengthens demand. These factors establish a stable base for needle coke expansion.

For instance, GrafTech International’s 38% sales volume increase in the US market for Q2 2025 is confirmed by official company earnings releases and financial news platforms.

Growing Need for Lithium-Ion Batteries in Electric Vehicles:

The rising penetration of electric vehicles creates steady demand for lithium-ion batteries, where needle coke forms a key raw material for synthetic graphite anodes. The Global Needle Coke Market experiences growth as automotive manufacturers expand EV production globally. Governments promote EV adoption through subsidies and emission standards, boosting battery demand. Needle coke provides high purity and strong structural properties, improving battery performance. It enhances energy density and ensures durability for longer driving ranges. Increasing investments in battery gigafactories also drive higher needle coke consumption. Rapid technological progress in battery chemistry reinforces its role. The EV boom makes needle coke vital in future transportation energy systems.

For instance, POSCO Future M’s July 2025 supply contract of natural graphite anode materials to a major Japanese battery manufacturer is reported in verified press releases and reputable industry news.

Expanding Application in Energy Storage Systems and Electronics:

Energy storage technologies are becoming critical in renewable energy integration, and needle coke contributes to improved storage capacity. The Global Needle Coke Market sees consistent demand from the electronics industry as well. Portable devices, laptops, and smartphones require high-performance batteries, where needle coke-based graphite ensures efficiency. Renewable energy deployment across solar and wind creates demand for grid-scale storage, increasing the need for needle coke. It delivers stability and extended lifespan in advanced storage systems. Smart grids and distributed energy solutions further strengthen market adoption. Rising consumer demand for compact electronics adds another growth factor. Such diverse applications ensure long-term stability for the market.

Technological Advancements and Refining Innovations Supporting Quality:

Refiners are adopting advanced technologies to improve the quality and efficiency of needle coke production. The Global Needle Coke Market benefits from enhanced yield and cost optimization through process innovation. Research initiatives aim to improve purity levels and minimize environmental impact during production. It strengthens the supply chain by supporting consistency in output. New refining methods reduce dependency on traditional coking processes, boosting flexibility. Industrial collaborations and R&D efforts accelerate development of sustainable production pathways. Such advancements reduce risks of supply disruption while meeting evolving quality standards. These technological improvements help ensure future resilience and competitive positioning.

Market Trends:

Shift Toward Green Steel and Decarbonization Strategies:

The Global Needle Coke Market aligns with global efforts toward decarbonization, as green steel initiatives gain traction. Electric arc furnaces dominate cleaner steel production methods, driving steady needle coke adoption. Companies in developed regions are investing in low-carbon steel plants. It supports the transition toward more sustainable production, reducing greenhouse gas emissions. Needle coke’s role in high-efficiency graphite electrodes makes it a preferred choice in this context. Policies promoting carbon-neutral steel accelerate demand. Collaborations between governments and steelmakers add momentum. These sustainability trends position needle coke as a key material in green manufacturing.

For instance, industry reports and market analysis document PetroChina’s Jinzhou Petrochemical completing an expansion to increase its needle coke capacity to 350,000 tons annually in late 2024.

Integration of Needle Coke into Advanced Battery Technologies:

Battery producers are integrating needle coke into advanced designs for improved performance and safety. The Global Needle Coke Market expands as manufacturers develop high-capacity energy storage devices. Emerging chemistries focus on enhancing cycle life and energy density with stable anode materials. It provides structural integrity, supporting next-generation lithium-ion and beyond-lithium solutions. Research in solid-state batteries also evaluates its application. Increased demand for fast-charging and durable batteries strengthens adoption. Strategic partnerships between chemical companies and automakers enhance production scale. These innovations in battery applications reinforce long-term demand for needle coke.

For instance, Indian Oil Corporation’s approved Rs 1,268 crore investment in 2025 for a calcined needle coke production unit at Paradip refinery is substantiated by news articles and company announcements.

Rising Investments in Recycling and Circular Economy Approaches:

Sustainability trends encourage the recycling of graphite electrodes and needle coke-based products. The Global Needle Coke Market benefits from circular economy practices adopted by leading steel and battery companies. Recycling lowers raw material dependency and reduces carbon footprint. It supports resource efficiency and ensures long-term material availability. Firms invest in electrode recycling technologies to improve recovery yields. Governments also promote recycling regulations in battery supply chains. Industry initiatives demonstrate commitment to reducing waste and enhancing sustainability. Such approaches align with broader environmental goals and provide resilience against resource shortages.

Expansion of Production Facilities and Regional Supply Chain Diversification:

Producers are expanding capacity to meet rising demand across steel, battery, and electronics sectors. The Global Needle Coke Market witness’s regional diversification with new plants in Asia-Pacific, North America, and the Middle East. Companies aim to secure supply chains and reduce import reliance. It creates stability in meeting local industrial requirements. Governments support domestic production projects to strengthen industrial competitiveness. Strategic alliances between refiners and steelmakers improve efficiency. Technological upgrades in refineries enable large-scale output. These expansions ensure secure global supply and market balance for the long term.

Market Challenges Analysis:

High Production Costs and Limited Feedstock Availability:

The Global Needle Coke Market faces challenges due to the high costs of production and limited feedstock availability. Premium coking feedstock remains scarce, pushing manufacturers to compete for raw materials. It creates volatility in supply chains and affects production stability. Rising energy costs further pressure margins for producers. Regulatory restrictions on petroleum refining complicate operations. Dependence on oil-derived feedstocks makes the industry vulnerable to crude market fluctuations. Companies attempt to balance efficiency with environmental compliance, adding complexity. These cost pressures limit market accessibility for smaller players.

Environmental Regulations and Supply-Demand Imbalance Risks:

Stringent environmental standards present challenges for producers across regions. The Global Needle Coke Market experiences rising scrutiny of emissions and waste management practices. It compels manufacturers to invest heavily in compliance systems. Slow capacity expansion versus demand growth risks creating shortages. Battery and steel sectors increase consumption faster than supply scalability. This imbalance may push prices upward, straining downstream industries. Unpredictable trade policies and regional supply restrictions add to instability. Producers must adapt strategies to meet compliance while maintaining cost efficiency. These dynamics create uncertainty in long-term planning.

Market Opportunities:

Rising Demand from Electric Vehicles and Energy Storage Expansion:

The Global Needle Coke Market has strong opportunities due to EV expansion and renewable energy storage. Growing demand for high-performance lithium-ion batteries continues to push adoption. It ensures strong growth prospects in both automotive and stationary storage markets. Increasing investments in charging infrastructure also support battery demand. Policies promoting zero-emission mobility encourage long-term consumption. Expanding battery production plants further strengthen the outlook. Opportunities remain strong as energy storage systems become integral to sustainable power grids.

Emergence of New Refining Technologies and Regional Expansion:

Technological advances create opportunities for improving yield and quality in needle coke production. The Global Needle Coke Market benefits from regional expansion projects aimed at reducing import dependency. It ensures supply chain resilience and cost optimization. Collaboration between refiners and governments accelerates project execution. Emerging markets invest in large-scale steel and battery industries, creating demand centers. Producers focusing on sustainable refining practices strengthen competitiveness. These factors open growth avenues and reinforce long-term market potential.

Market Segmentation Analysis:

By Type

The Global Needle Coke Market is segmented into petroleum derived and coal tar pitch derived categories. Petroleum-derived needle coke dominates due to consistent availability of petroleum feedstock and advanced refining technologies. It delivers higher purity and uniform quality, making it preferred for premium graphite electrodes and high-capacity batteries. Coal tar pitch-derived needle coke holds a steady share, driven by cost advantages and utilization in regions with coal-based industries. It continues to support steelmaking applications, though environmental concerns limit expansion potential.

For instance, Shanxi Hongte Coal Chemical Co. Ltd suspended its needle coke price quotations in 2025 amid market shifts, highlighting challenges in coal tar pitch-derived coke production.

By Application

The market is divided into graphite electrodes, lithium-ion batteries, and other applications. Graphite electrodes remain the largest segment, with demand driven by electric arc furnace-based steelmaking. It benefits from growing adoption of energy-efficient and lower-emission processes. Lithium-ion batteries represent the fastest-growing segment, supported by global electric vehicle expansion and rising energy storage deployment. Other applications include specialty carbon materials for nuclear and aerospace industries, where performance reliability drives niche demand.

For instance, although GrafTech International increased its sales volume in the second quarter of 2025, lower average selling prices led to reduced net sales and a wider net loss, illustrating ongoing market pressures despite a sustained high demand for graphite electrodes in steelmaking.

By End User

Key end users include steel industry, aluminum industry, and nuclear power. The steel industry dominates consumption, relying on needle coke for ultra-high-power graphite electrodes. It remains critical for construction and infrastructure growth worldwide. The aluminum industry uses needle coke-based carbon anodes, contributing to steady demand. The nuclear power sector adopts needle coke in high-specification graphite components, ensuring safety and efficiency in reactor applications. Each segment underpins the diverse and long-term relevance of needle coke across industries.

Segmentation:

By Type

Petroleum Derived
Coal Tar Pitch Derived

By Application

Graphite Electrodes
Lithium-ion Batteries
Other Applications

By End User

Steel Industry
Aluminum Industry
Nuclear Power

By Region

North America
- U.S.
- Canada
- Mexico
Europe
- UK
- France
- Germany
- Italy
- Spain
- Russia
- Rest of Europe
Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Argentina
- Rest of Latin America
Middle East
- GCC Countries
- Israel
- Turkey
- Rest of Middle East
Africa
- South Africa
- Egypt
- Rest of Africa

Regional Analysis:

North America

The North America Global Needle Coke Market size was valued at USD 781.44 million in 2018 to USD 1,018.54 million in 2024 and is anticipated to reach USD 1,540.90 million by 2032, at a CAGR of 5.4% during the forecast period. North America holds about 23.3% of the global market share in 2024. The region benefits from strong steel production and established refining capacity. The U.S. leads consumption, driven by demand for graphite electrodes in electric arc furnaces and expanding electric vehicle battery manufacturing. Canada contributes steadily with industrial growth and energy projects, while Mexico shows potential through rising steel capacity. It gains support from policies promoting sustainable manufacturing and energy storage adoption. Strategic investments in battery plants further stimulate demand. North America continues to position itself as a hub for advanced carbon materials.

Europe

The Europe Global Needle Coke Market size was valued at USD 887.75 million in 2018 to USD 1,138.11 million in 2024 and is anticipated to reach USD 1,682.21 million by 2032, at a CAGR of 5.1% during the forecast period. Europe accounts for about 26% of the global market share in 2024. The region is shaped by strong demand for sustainable steelmaking and advanced battery technologies. Germany, France, and the UK remain key markets, driven by industrial capacity and EV adoption. It benefits from EU initiatives supporting decarbonization and renewable integration. Energy transition goals increase the importance of energy storage, creating higher demand for needle coke. Regional producers also strengthen capacity with cleaner refining practices. The focus on green steel and battery innovation makes Europe a stable and innovation-driven market.

Asia Pacific

The Asia Pacific Global Needle Coke Market size was valued at USD 998.02 million in 2018 to USD 1,383.54 million in 2024 and is anticipated to reach USD 2,265.60 million by 2032, at a CAGR of 6.4% during the forecast period. Asia Pacific dominates with nearly 31.7% of the global market share in 2024. China leads consumption due to its vast steelmaking industry and growing EV battery capacity. Japan and South Korea contribute significantly with strong electronics and automotive sectors. India shows robust growth potential, supported by infrastructure expansion and renewable energy projects. It benefits from large-scale graphite electrode production and rising lithium-ion battery demand. Southeast Asia emerges as an upcoming hub for industrial development. Regional governments support energy-efficient industries, ensuring consistent consumption. Asia Pacific remains the primary growth engine for the global market.

Latin America

The Latin America Global Needle Coke Market size was valued at USD 293.83 million in 2018 to USD 381.84 million in 2024 and is anticipated to reach USD 575.32 million by 2032, at a CAGR of 5.3% during the forecast period. Latin America represents about 8.7% of the global market share in 2024. Brazil leads regional demand, driven by steel production and automotive growth. Argentina supports consumption through industrial activity, while other countries expand capacity gradually. It benefits from rising investment in infrastructure and construction projects. Increasing adoption of electric arc furnaces boosts electrode demand. Energy storage applications remain limited but show future potential. Regional supply chains strengthen through imports from global producers. Latin America offers steady growth opportunities within the global market.

Middle East

The Middle East Global Needle Coke Market size was valued at USD 223.84 million in 2018 to USD 298.12 million in 2024 and is anticipated to reach USD 464.29 million by 2032, at a CAGR of 5.8% during the forecast period. The region accounts for about 6.8% of the global market share in 2024. It benefits from expanding steel production and industrial diversification programs. GCC countries invest heavily in infrastructure, raising demand for graphite electrodes. Turkey also contributes with its growing steel industry. Energy transition policies encourage demand for battery technologies, though still in early stages. Refinery expansion projects support localized supply opportunities. Regional focus on reducing import dependency strengthens long-term stability. The Middle East emerges as a competitive participant in the global market.

Africa

The Africa Global Needle Coke Market size was valued at USD 116.54 million in 2018 to USD 143.76 million in 2024 and is anticipated to reach USD 200.52 million by 2032, at a CAGR of 4.3% during the forecast period. Africa holds about 3.3% of the global market share in 2024. South Africa leads consumption, supported by steel production and industrial activity. Egypt follows with infrastructure-driven demand, while other regions remain underdeveloped. It relies heavily on imports to meet consumption needs. Slow adoption of electric arc furnaces limits demand expansion. Energy storage and EV adoption are at an early stage but hold future potential. Rising industrialization and urban development will gradually increase usage. Africa remains a small but evolving segment in the global market landscape.

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Key Player Analysis:

Baosteel Group
China National Petroleum Corporation (CNPC)
ENEOS Corporation
GrafTech International
Indian Oil Corporation
Nippon Steel Corporation
POSCO Future M
Shanxi Hongte Coal Chemical Co. Ltd.
Tokai Carbon Co., Ltd.
Sinopec
Other Key Players

Competitive Analysis:

The Global Needle Coke Market is moderately consolidated, with key players controlling a significant portion of global supply. Leading companies focus on expanding refining capacity, improving product purity, and strengthening supply chains to secure long-term contracts with steel and battery manufacturers. It remains highly competitive as regional producers in Asia, North America, and Europe seek to expand their presence through strategic alliances and technology investments. Companies compete on cost efficiency, product performance, and sustainable production practices. Strong demand from steelmaking and lithium-ion battery applications ensures that both established and emerging players actively pursue market share.

Recent Developments:

In July 2025, POSCO Future M signed a supply agreement with a major Japanese battery manufacturer to supply natural graphite anode materials produced at its Sejong plant for use in electric vehicle batteries. The company continues to expand its customer base globally through a self-sufficient supply chain and differentiated technology.
GrafTech International Ltd: For the second quarter of 2025, GrafTech reported a 12% year-over-year increase in sales volume, totaling 28.6 thousand metric tons. The company noted its highest sales volume performance since Q3 2022, especially driven by a 38% increase in sales volume in the US market.
Shanxi Hongte Coal Chemical Co. Ltd: Shanxi Hongte Coal Chemical suspended its needle coke quotation around mid-2025 as per market reports, reflecting ongoing adjustments in the needle coke market.

Report Coverage:

The research report offers an in-depth analysis based on type, application, and end user. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook:

Rising adoption of electric arc furnaces will sustain steady electrode demand.
Expanding EV markets will accelerate consumption of lithium-ion battery anodes.
Advanced refining technologies will enhance purity and production efficiency.
Regional supply diversification will reduce dependency on imports.
Recycling of graphite electrodes will support circular economy models.
New refinery projects in Asia-Pacific will expand production capacity.
Demand for green steel initiatives will strengthen market stability.
Strategic partnerships between refiners and automakers will boost growth.
Environmental compliance will drive investment in cleaner technologies.
Emerging economies will offer untapped opportunities in steel and energy storage.

CHAPTER NO. 1 : GENESIS OF THE MARKET

1.1 Market Prelude – Introduction & Scope

1.2 The Big Picture – Objectives & Vision

1.3 Strategic Edge – Unique Value Proposition

1.4 Stakeholder Compass – Key Beneficiaries

CHAPTER NO. 2 : EXECUTIVE LENS

2.1 Pulse of the Industry – Market Snapshot

2.2 Growth Arc – Revenue Projections (USD Million)

2.3. Premium Insights – Based on Primary Interviews

CHAPTER NO. 3 : NEEDLE COKE MARKET FORCES & INDUSTRY PULSE

3.1 Foundations of Change – Market Overview
3.2 Catalysts of Expansion – Key Market Drivers
3.2.1 Momentum Boosters – Growth Triggers
3.2.2 Innovation Fuel – Disruptive Technologies
3.3 Headwinds & Crosswinds – Market Application
3.3.1 Regulatory Tides – Compliance Challenges
3.3.2 Economic Frictions – Inflationary Pressures
3.4 Untapped Horizons – Growth Potential & Opportunities
3.5 Strategic Navigation – Industry Frameworks
3.5.1 Market Equilibrium – Porter’s Five Forces
3.5.2 Ecosystem Dynamics – Value Chain Analysis
3.5.3 Macro Forces – PESTEL Breakdown

CHAPTER NO. 4 : KEY INVESTMENT EPICENTER

4.1 Regional Goldmines – High-Growth Geographies

4.2 Product Frontiers – Lucrative Type Categories

4.3 End User Sweet Spots – Emerging Demand Segments

CHAPTER NO. 5: REVENUE TRAJECTORY & WEALTH MAPPING

5.1 Momentum Metrics – Forecast & Growth Curves

5.2 Regional Revenue Footprint – Market Share Insights

5.3 Segmental Wealth Flow – Type, Application, and End User Revenue

CHAPTER NO. 6 : TRADE & COMMERCE ANALYSIS

6.1. Import Analysis By Region

6.1.1. Global Needle Coke Market Import Revenue By Region

6.2. Export Analysis By Region

6.2.1. Global Needle Coke Market Export Revenue By Region

CHAPTER NO. 7 : COMPETITION ANALYSIS

7.1. Company Market Share Analysis

7.1.1. Global Needle Coke Market: Company Market Share

7.2. Global Needle Coke Market Company Revenue Market Share

7.3. Strategic Developments

7.3.1. Acquisitions & Mergers

7.3.2. New Type Launch

7.3.3. Regional Expansion

7.4. Competitive Dashboard

7.5. Company Assessment Metrics, 2024

CHAPTER NO. 8 : NEEDLE COKE MARKET – BY TYPE SEGMENT ANALYSIS

8.1. Needle Coke Market Overview By Type Segment

8.1.1. Needle Coke Market Revenue Share By Type

8.2. Petroleum Derived

8.3. Coal Tar Pitch Derived

CHAPTER NO. 9 : NEEDLE COKE MARKET – BY APPLICATION SEGMENT ANALYSIS

9.1. Needle Coke Market Overview By Application Segment

9.1.1. Needle Coke Market Revenue Share By Application

9.2. Graphite Electrodes

9.3. Lithium-ion Batteries

9.4. Other Applications

CHAPTER NO. 10 : NEEDLE COKE MARKET – BY END USER SEGMENT ANALYSIS

10.1. Needle Coke Market Overview By End User Segment

10.1.1. Needle Coke Market Revenue Share By End User

10.2. Steel Industry

10.3. Aluminum Industry

10.4. Nuclear Power

CHAPTER NO. 11 : NEEDLE COKE MARKET – REGIONAL ANALYSIS

11.1. Needle Coke Market Overview By Region Segment

11.1.1. Global Needle Coke Market Revenue Share By Region

10.1.2. Regions

11.1.3. Global Needle Coke Market Revenue By Region

11.1.4. Type

11.1.5. Global Needle Coke Market Revenue By Type

11.1.6. Application

11.1.7. Global Needle Coke Market Revenue By Application

11.1.8. End User

11.1.9. Global Needle Coke Market Revenue By End User

CHAPTER NO. 12 : NORTH AMERICA NEEDLE COKE MARKET – COUNTRY ANALYSIS

12.1. North America Needle Coke Market Overview By Country Segment

12.1.1. North America Needle Coke Market Revenue Share By Region

12.2. North America

12.2.1. North America Needle Coke Market Revenue By Country

12.2.2. Type

12.2.3. North America Needle Coke Market Revenue By Type

12.2.4. Application

12.2.5. North America Needle Coke Market Revenue By Application

12.2.6. End User

12.2.7. North America Needle Coke Market Revenue By End User

12.3. U.S.

12.4. Canada

12.5. Mexico

CHAPTER NO. 13 : EUROPE NEEDLE COKE MARKET – COUNTRY ANALYSIS

13.1. Europe Needle Coke Market Overview By Country Segment

13.1.1. Europe Needle Coke Market Revenue Share By Region

13.2. Europe

13.2.1. Europe Needle Coke Market Revenue By Country

13.2.2. Type

13.2.3. Europe Needle Coke Market Revenue By Type

13.2.4. Application

13.2.5. Europe Needle Coke Market Revenue By Application

13.2.6. End User

13.2.7. Europe Needle Coke Market Revenue By End User

13.3. UK

13.4. France

13.5. Germany

13.6. Italy

13.7. Spain

13.8. Russia

13.9. Rest of Europe

CHAPTER NO. 14 : ASIA PACIFIC NEEDLE COKE MARKET – COUNTRY ANALYSIS

14.1. Asia Pacific Needle Coke Market Overview By Country Segment

14.1.1. Asia Pacific Needle Coke Market Revenue Share By Region

14.2. Asia Pacific

14.2.1. Asia Pacific Needle Coke Market Revenue By Country

14.2.2. Type

14.2.3. Asia Pacific Needle Coke Market Revenue By Type

14.2.4. Application

14.2.5. Asia Pacific Needle Coke Market Revenue By Application

14.2.6. End User

14.2.7. Asia Pacific Needle Coke Market Revenue By End User

14.3. China

14.4. Japan

14.5. South Korea

14.6. India

14.7. Australia

14.8. Southeast Asia

14.9. Rest of Asia Pacific

CHAPTER NO. 15 : LATIN AMERICA NEEDLE COKE MARKET – COUNTRY ANALYSIS

15.1. Latin America Needle Coke Market Overview By Country Segment

15.1.1. Latin America Needle Coke Market Revenue Share By Region

15.2. Latin America

15.2.1. Latin America Needle Coke Market Revenue By Country

15.2.2. Type

15.2.3. Latin America Needle Coke Market Revenue By Type

15.2.4. Application

15.2.5. Latin America Needle Coke Market Revenue By Application

15.2.6. End User

15.2.7. Latin America Needle Coke Market Revenue By End User

15.3. Brazil

15.4. Argentina

15.5. Rest of Latin America

CHAPTER NO. 16 : MIDDLE EAST NEEDLE COKE MARKET – COUNTRY ANALYSIS

16.1. Middle East Needle Coke Market Overview By Country Segment

16.1.1. Middle East Needle Coke Market Revenue Share By Region

16.2. Middle East

16.2.1. Middle East Needle Coke Market Revenue By Country

16.2.2. Type

16.2.3. Middle East Needle Coke Market Revenue By Type

16.2.4. Application

16.2.5. Middle East Needle Coke Market Revenue By Application

16.2.6. End User

16.2.7. Middle East Needle Coke Market Revenue By End User

16.3. GCC Countries

16.4. Israel

16.5. Turkey

16.6. Rest of Middle East

CHAPTER NO. 17 : AFRICA NEEDLE COKE MARKET – COUNTRY ANALYSIS

17.1. Africa Needle Coke Market Overview By Country Segment

17.1.1. Africa Needle Coke Market Revenue Share By Region

17.2. Africa

17.2.1. Africa Needle Coke Market Revenue By Country

17.2.2. Type

17.2.3. Africa Needle Coke Market Revenue By Type

17.2.4. Application

17.2.5. Africa Needle Coke Market Revenue By Application

17.2.6. End User

17.2.7. Africa Needle Coke Market Revenue By End User

17.3. South Africa

17.4. Egypt

17.5. Rest of Africa

CHAPTER NO. 18 : COMPANY PROFILES

18.1. Baosteel Group

18.1.1. Company Overview

18.1.2. Product Portfolio

18.1.3. Financial Overview

18.1.4. Recent Developments

18.1.5. Growth Strategy

18.1.6. SWOT Analysis

18.2. China National Petroleum Corporation

18.3. ENEOS Corporation

18.4. GrafTech International

18.5. Indian Oil Corporation

18.6. Nippon Steel Corporation

18.7. POSCO Future M

18.8. Shanxi Hongte Coal Chemical Co Ltd

18.9. Tokai Carbon Co., Ltd

18.10. Sinopec

18.11. Other Key Players

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Frequently Asked Questions:

What is the current market size for Global Needle Coke Market, and what is its projected size in 2032?

The Global Needle Coke Market size was valued at USD 3,301.4 million in 2018 and reached USD 4,363.9 million in 2024. It is projected to reach USD 6,728.8 million by 2032, showing steady growth.

At what Compound Annual Growth Rate is the Global Needle Coke Market projected to grow between 2025 and 2032?

The Global Needle Coke Market is expected to grow at a CAGR of 5.62% during the forecast period 2025–2032. The growth is driven by steel production and battery manufacturing expansion.

Which Global Needle Coke Market segment held the largest share in 2024?

Graphite electrodes held the largest share of the Global Needle Coke Market in 2024. Strong demand from electric arc furnace-based steelmaking supported segment leadership

What are the primary factors fueling the growth of the Global Needle Coke Market?

Key growth factors include rising demand for graphite electrodes in steelmaking, rapid adoption of lithium-ion batteries in EVs, and increasing use in electronics and energy storage systems

Who are the leading companies in the Global Needle Coke Market?

Leading companies include Baosteel Group, China National Petroleum Corporation, ENEOS Corporation, GrafTech International, Indian Oil Corporation, Nippon Steel Corporation, POSCO Future M, Tokai Carbon Co. Ltd., and Sinopec.

About Author

Ganesh Chandwade

Senior Industry Consultant

Ganesh is a senior industry consultant specializing in heavy industries and advanced materials.

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The U.S. Light and Heavy-Duty Natural Gas Vehicle Market size was valued at USD 8,597.94 Million in 2018, grew to USD 13,525.51 Million in 2024, and is anticipated to reach USD 25,027.43 Million by 2032, at a CAGR of 7.45% during the forecast period.

Sweden Wood Pellets Market

Sweden Wood Pellets Market size was valued at USD 79.89 million in 2018, grew to USD 124.94 million in 2024, and is anticipated to reach USD 210.56 million by 2032, at a CAGR of 6.28% during the forecast period.

GCC Industrial Gas Market

GCC Industrial Gas Market size was valued USD 3.39 billion in 2024 and is anticipated to reach USD 5.39 billion by 2032, at a CAGR of 5.97% during the forecast period.

Gas Turbine Oil Market

Gas Turbine Oil Market size was valued USD 3.19 billion in 2024 and is anticipated to reach USD 4.1 billion by 2032, at a CAGR of 3.2% during the forecast period.

Lithium Ion Battery Separator Market

The Global Lithium Ion Battery Separator Market size was valued at USD 2,500 million in 2018 to USD 4,371.65 million in 2024 and is anticipated to reach USD 15,612.26 million by 2032, at a CAGR of 17.35 % during the forecast period.

Flue Gas Desulfurization Systems Market

Flue Gas Desulfurization Systems Market size was valued USD 18.49 Billion in 2024 and is anticipated to reach USD 23.24 Billion by 2032, at a CAGR of 2.9% during the forecast period.

Forklift Battery Market

Forklift Battery Market size was valued USD 3.19 billion in 2024 and is anticipated to reach USD 6.74 billion by 2032, at a CAGR of 9.8% during the forecast period.

Gas Turbine Services Market

Gas Turbine Service Market size was valued USD 18.49 Billion in 2024 and is anticipated to reach USD 25.49 Billion by 2032, at a CAGR of 4.1% during the forecast period.

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Thank you for the data! The numbers are exactly what we asked for and what we need to build our business case.

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The report was an excellent overview of the Industrial Burners market. This report does a great job of breaking everything down into manageable chunks.

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