市场调查报告书
商品编码
1455868
全球针状焦市场:按应用、类型、等级、最终用途和国家进行分析 - 分析和预测(2023-2033)Global Needle Coke Market: Focus on Application, Type, Grade, End Use, and Country-Level Analysis - Analysis and Forecast, 2023-2033 |
2023年全球针状焦市场规模达30.5亿美元。
该市场预计将以 7.99% 的复合年增长率成长,到 2033 年将达到 65.8 亿美元。该市场正在受到基础设施进步、经济成长、都市化、工业化以及对钢铁和电动车不断增长的需求的影响。相反,全球不确定性、监管不匹配、经济不稳定和基础设施限制等挑战正在阻碍成长。
主要市场统计数据 | |
---|---|
预测期 | 2023-2033 |
2023年评估 | 30.5亿美元 |
2033年预测 | 65.8亿美元 |
复合年增长率 | 7.99% |
针状焦是石油或煤原料延迟焦化得到的具有针状微观结构的碳材料。针状焦是一种优质石油焦,具有明显的针状结构,具有碳含量高、硫和金属含量低、导热性能良好的特性。它是在原油或煤焦油沥青精製中透过称为延迟焦化的复杂过程生产的。
随着钢铁製造製程对石墨电极的需求不断增长,针状焦市场不断增长。由于电动车行业的快速扩张,市场正在获得更多的收益。针状焦的独特性能使其非常适合生产石墨电极,而石墨电极是钢铁生产中使用的电弧炉的重要组成部分。由针状焦製成的石墨电极具有高耐热性、机械强度和导电性,使其成为承受电弧炉恶劣条件的理想选择。除炼钢外,针状焦也用于生产其他碳基材料,如锂离子电池负极材料、特殊碳製品以及航太、电子等产业的各种高性能材料。
该报告研究了全球针状焦市场,并提供了市场概述,包括按应用、类型、等级、最终用途、国家和参与市场的公司概况分類的趋势。
Global Needle Coke Market Overview
The global needle coke market was valued at $3.05 billion in 2023, and it is expected to grow at a CAGR of 7.99% and reach $6.58 billion by 2033. This market is shaped by infrastructural advancements, economic growth, urbanization, industrialization, and growing demand for steel and electric vehicles. Conversely, challenges such as global uncertainties, regulatory discrepancies, economic instability, and infrastructural limitations pose hurdles to growth.
Introduction of Needle Coke
KEY MARKET STATISTICS | |
---|---|
Forecast Period | 2023 - 2033 |
2023 Evaluation | $3.05 Billion |
2033 Forecast | $6.58 Billion |
CAGR | 7.99% |
Needle coke is a purposely structured carbon material with a needle-like microstructure obtained from delayed coking of petroleum or coal feedstocks. Needle coke is a high-quality petroleum coke with a distinct needle-like structure characterized by its high carbon content, low sulfur and metals content, and excellent thermal conductivity. It is produced during the refining of crude oil or from coal tar pitch via a complex process known as delayed coking.
Market Introduction
The needle coke market has been consistently growing with the growing demand for graphite electrodes for the steelmaking process. With the rapid expansion of the electric vehicle industry, the market is gaining more revenue. The unique properties of needle coke make it highly desirable for the production of graphite electrodes, which are essential components in electric arc furnaces used in steel production. Graphite electrodes made from needle coke exhibit high thermal resistance, mechanical strength, and electrical conductivity, making them ideal for withstanding the extreme conditions inside electric arc furnaces. In addition to steelmaking, needle coke is also used in the production of other carbon-based materials, such as lithium-ion battery anodes, specialty carbon products, and various high-performance materials in industries such as aerospace and electronics.
Industrial Impact
Given the increasing demand for steel and the growing market for lithium-ion batteries and other advanced materials, the demand for needle coke is expected to continue to rise. However, concerns about environmental impacts associated with its production and the need for sustainable alternatives are prompting research and development efforts aimed at improving the efficiency and environmental performance of needle coke production processes, as well as exploring alternative sources of carbon for its manufacture.
The key players operating in the needle coke market include Asbury Carbons, Grazpromneft, China Petroleum & Chemical Corporation, Shandong Jingyang Technology Co. Ltd, GrafTech International, Shanxi Hongte Coal Chemical Co Ltd, Indian Oil Corporation Ltd, Mitsubishi Chemical Corporation, NIPPON STEEL Chemical & Material Co., Ltd., Sumitomo Corporation, Baotailong New Materials Co., Ltd., Phillips 66, POSCO FUTURE M, TAQAT, Arak Oil Refinery, among others. These companies are focusing on strategic partnerships and market expansion to expand their market presence.
Market Segmentation:
Segmentation 1: by Application
Graphite Electrode to Dominate the Needle Coke Market (by Application)
The demand for needle coke in the production of graphite electrodes is significant and closely tied to the steel industry. Graphite electrodes are crucial components used in electric arc furnaces (EAFs) for the production of steel via the secondary route, which involves melting scrap steel. Electric arc furnaces require high-performance graphite electrodes to conduct electricity and generate the extreme heat necessary to melt scrap steel and other raw materials. Needle coke is the preferred raw material for manufacturing graphite electrodes due to its exceptional properties, including high thermal conductivity, low coefficient of thermal expansion, high mechanical strength, and low electrical resistance. All this is expected to drive the needle coke market during the forecast period 2023-2033.
Segmentation 2: by End Use
Aluminium and Steel Industry to Dominate the Needle Coke Market (by End Use)
The steel industry is the primary consumer of needle coke, where it is used in the production of graphite electrodes. Electric arc furnaces (EAFs) utilize graphite electrodes to generate the high temperatures necessary to melt scrap steel and other raw materials for steelmaking. Needle coke's unique properties, including high thermal conductivity and mechanical strength, make it indispensable for manufacturing high-quality graphite electrodes capable of withstanding the extreme conditions within EAFs. As the steel industry grows, so does the demand for needle coke. In the aluminum industry, needle coke is used in the production of certain carbon-based materials, such as cathodes for aluminum electrolysis cells. Carbon cathodes play a crucial role in the Hall-Heroult process, which is the primary method for producing aluminum. However, the demand for needle coke in the aluminum industry is relatively smaller compared to its demand in the steel industry.
Segmentation 3: by Type
Oil-Based to be Dominant in the Needle Coke Market (by Type)
Needle coke demand in the oil-based sector primarily stems from its use in the production of graphite electrodes, which are essential components in electric arc furnaces (EAFs) used for steelmaking. Needle coke's unique properties, including high carbon content, low impurities, and excellent thermal conductivity, make it the preferred material for manufacturing high-quality graphite electrodes.
Segmentation 4: by Grade
Super-Premium Grade to Dominate the Needle Coke Market (by Grade)
The shift toward high-efficiency steel production and increasingly demanding quality standards creates a strategic opening for suppliers of super-premium grade needle coke. This material's unique properties are essential for ultra-high-power graphite electrodes. Additionally, the rapidly expanding demand in nuclear, aerospace, semiconductor, and other high-tech sectors makes this market segment promising for further growth.
Segmentation 5: by Region
The demand for needle coke in the Asia-Pacific (APAC) region has been growing steadily in recent years. The Asia-Pacific region is a major hub for steel production, with countries such as China, Japan, South Korea, and India being significant contributors. Electric arc furnaces (EAFs) are widely used in steelmaking in this region, and needle coke is a critical raw material for producing graphite electrodes used in EAFs. The expansion of steel production capacity in Asia-Pacific countries has led to an increased demand for needle coke. With the push for electric vehicles to combat air pollution and reduce carbon emissions, there has been a surge in demand for lithium-ion batteries, which require needle coke-derived graphite as an anode material. As APAC countries such as China and South Korea lead the way in EV production and adoption, the demand for needle coke for battery production has been on the rise.
Recent Developments in the Needle Coke Market
Demand - Driver, Limitation, and Opportunity
Market Demand Driver: Carbon Reduction Mandates and Environmental Standards
The needle coke market is poised for significant growth, propelled by the increasing adoption of the electric arc furnace (EAF) steelmaking process and the mounting pressure to achieve carbon neutrality targets. Sustainability considerations are reshaping the steel industry; the EAF process offers a more environmentally conscious approach compared to the traditional basic oxygen furnace (BOF) method. This shift favors needle coke, a critical material for EAF graphite electrode production. Carbon neutrality targets are rising in prominence due to a mix of factors, including tightening environmental regulations, growing consumer demand for sustainable products, and investor pressure for environmental, social, and governance (ESG) responsibility. Industries with high carbon footprints, such as steel manufacturing, are urgently seeking ways to decarbonize their operations. The needle coke market stands to benefit substantially from this trend as EAF adoption accelerates, thereby expected to drive the needle coke market over the forecast period from 2023 to 2033.
Market Challenge: Rising Raw Material Prices
Surging prices for raw materials, notably coal tar and crude oil, pose a considerable challenge to the needle coke industry. The production of needle coke is critically dependent on these feedstocks, rendering it highly sensitive to their price volatility. The Russia-Ukraine war, trade wars, and other global uncertainties are leading to supply chain disruptions, resulting in ups and downs of raw material prices for needle coke manufacturing. An upward trend in coal tar prices, influenced by supply chain disruptions and heightened demand from other sectors, is compressing profit margins for needle coke manufacturers. Similarly, the unpredictable crude oil market is directly affecting the cost of petroleum-based needle coke feedstocks. These rising expenses generate a cascading effect, leading to increased needle coke prices and potentially reducing demand from key industries such as steel and aluminum.
Market Opportunity: Vertical Integration of Needle Coke Business
Vertical integration represents a compelling opportunity for needle coke manufacturers and their customers in the sector. Amid fluctuating costs of raw materials, especially needle coke, adopting vertical integration tactics can solidify supply chains, counteract price volatility, and enhance profitability for all involved parties. By venturing upstream into needle coke production, through either the establishment of new plants or through strategic acquisitions, graphite electrode producers can secure a critical input. This opportunity diminishes dependence on third-party suppliers and shields against market fluctuations. Ensuring access to a dependable, high-quality needle coke supply leads to cost efficiencies and fortifies a competitive edge in the graphite electrode industry. Moreover, needle coke consumers also stand to gain from vertical integration. This approach promises enhanced supply chain reliability, guaranteeing the steady availability of vital materials. Furthermore, tighter integration between producers and consumers can spur innovation in both product development and process efficiency, bolstering growth and competitive positioning in the market.
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different grades and types. Moreover, the study provides the reader with a detailed understanding of the needle coke market based on the end user.
Growth/Marketing Strategy: The needle coke market has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The company's favored strategy has been product developments, business expansions, and acquisitions to strengthen its position in the needle coke market.
Competitive Strategy: Key players in the needle coke market analyzed and profiled in the study involve needle coke manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the needle coke market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Research Methodology
Factors for Data Prediction and Modeling
Market Estimation and Forecast
This research study involves the usage of extensive secondary sources, such as certified publications, articles from recognized authors, white papers, annual reports of companies, directories, and major databases to collect useful and effective information for an extensive, technical, market-oriented, and commercial study of the global needle coke market.
The process of market engineering involves the calculation of the market statistics, market size estimation, market forecast, market crackdown, and data triangulation (the methodology for such quantitative data processes is explained in further sections). The primary research study has been undertaken to gather information and validate the market numbers for segmentation types and industry trends of the key players in the market.
Primary Research
The primary sources involve industry experts from the needle coke market and various stakeholders in the ecosystem. Respondents such as CEOs, vice presidents, marketing directors, and technology and innovation directors have been interviewed to obtain and verify both qualitative and quantitative aspects of this research study.
The key data points taken from primary sources include:
Secondary Research
This research study of the needle coke market involves extensive secondary research, directories, company websites, and annual reports. It also makes use of databases, such as Hoovers, Bloomberg, Businessweek, and Factiva, to collect useful and effective information for an extensive, technical, market-oriented, and commercial study of the global market. In addition to the aforementioned data sources, the study has been undertaken with the help of other data sources and websites, such as the U.S. Geological Survey and Natural Resources Canada.
Secondary research was done in order to obtain crucial information about the industry's value chain, revenue models, the market's monetary chain, the total pool of key players, and the current and potential use cases and applications.
The key data points taken from secondary research include:
Key Market Players and Competition Synopsis
The companies that are profiled in the needle coke market have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Some of the prominent names in this market are:
Companies that are not a part of the aforementioned pool have been well represented across different sections of the report (wherever applicable).
Scope and Definition