Needle Coke Market Size, Opportunities, Trends, Growth Factors, Revenue Analysis, For 2022–2030

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Rising demand for semiconductors, and various metals and materials and components from aerospace & defense, building and construction, automotive, marine, and oil & gas, among various others is driving inclining demand for needle coke.

The global Needle Coke market size reached USD 2,293.5 Billion in 2021 and is expected to register a revenue CAGR of 8.7% during the forecast period, according to latest analysis by Emergen Research. Increasing production of graphite electrodes for the steel industry, especially in emerging countries, growing usage of smart devices, and high demand for graphite batteries are some key factors driving market revenue growth. Needle coke is a premium grade, high value petroleum coke used in the manufacturing of graphite electrodes of very low Coefficient of Thermal Expansion (CTE). These graphite electrodes are used in Electric Arc Furnaces (EAFs) in the steel manufacturing industry for melting scrap metal and producing steel. High tensile strength, good chemical stability, and high thermal conductivity of needle coke enables manufacturing of ultra-high power graphite electrode and artificial graphite cathode materials.

The Global Needle Coke market drivers and restraints Market report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals.


Needle coke is highly preferred for its low thermal expansion coefficient, low porosity, and high conductivity and widely used in the manufacture of synthetic graphite and anode material for lithium-ion batteries, which are used in Electric Vehicles (EVs). Graphite is the largest raw material in lithium-ion batteries by size. Surge in demand for EVs owing to increasing environmental impact and rising carbon emissions and favorable initiatives by governments for green and low-carbon economy is boosting revenue growth of the needle coke market. For instance, Tesla Model S electric vehicle contains up to 85kg of graphite. Increasing penetration of electric vehicles and shifting consumer preference towards hybrid-electric cars are factors expected to continue to drive market revenue growth during the forecast period.

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Volatility in the global natural gas and crude oil prices owing to fluctuations in demand and supply as well as potential shortage of petroleum-derived needle coke as petroleum prices continue to rise are expected to restraint growth of market to a major extent. Moreover, petroleum needle coke cost is driven even higher owing to required filtration to remove a major portion of ash content from the decant oil. Ukraine-Russia conflict has led to implementation of stringent sanctions, which has driven international crude oil prices up, rising by over 9% and breaking through USD 100 for the first time since 2014. Trade costs are also expected to rise owing to sanctions, export restrictions, higher energy costs, and transport disruptions, thereby affecting many economies in long-term consequences.

The major manufacturers covered in this report:

Asbury Carbons, Baosteel Group Co., GrafTech International, Indian Oil Corporation Ltd., Mitsubishi Chemical Holdings Corporation, Nippon Steel Chemical Material Co. Ltd., Phillips 66 Company, Posco Chemical, Sumitomo Corporation, and China National Petroleum Corporation

Segments Covered in this report are:

  • Product Type Outlook (Revenue, USD Million, Volume, Kilotons; 2019-2030)
    • Coal-based Needle Coke
    • Petroleum-Based Needle Coke
      1. Shaft Calciner
      2. Rotary Kiln
  • Grade Outlook (Revenue, USD Million, Volume, Kilotons; 2019-2030)
    • Intermediate Grade
    • Premium Grade
    • Super-Premium Grade
  • Application Outlook (Revenue, USD Million, Volume, Kilotons; 2019-2030)
    • Graphite Electrodes
    • Silicon Metal and Ferroalloys
    • Lithium-ion Anode
    • Carbon Black
    • Rubber Compounds
    • Others

This report strategically examines the micro-markets and brings to light the impact of technology upgrades on the performance of the Needle Coke market.

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The study on the Needle Coke market further blends in the best of both primary and secondary research to estimate and verify the current status of import and export, demand and supply, consumption power, spending capacity and distribution channel worldwide.

The report examines the market standing of prominent manufacturers and evaluates the strategies they have adopted to stay competitive. The study also applies qualitative and quantitative techniques to assess the annual and financial performance of the top vendors and insights from market leaders.

Comprehensive coverage of the recent developments including joint ventures, collaborations, investments, product launches and acquisitions and mergers form an important part of the research on the Needle Coke market for the forecast period, 2020 to 2028.

Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:

United States




Southeast Asia


Researchers conducting the research also carry out a comprehensive analysis of the recent amendments in the government regulation and their impact on the competitive landscape of the industry.

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