Needle Coke Market Share, Drivers, Demand and Growth Prospect to 2023
“The factors that are playing a major role in the growth of the market are the growing production of electric vehicles and the high demand in graphite electrodes and lithium-ion batteries. However, the high cost of graphite electrodes and the environment related concerns may restrain overall market growth in the years to come. �
Global needle coke market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Needle coke is a high value, premium grade petroleum coke exclusively used in the manufacturing of graphite electrodes of the very low coefficient of thermal expansion (CTE) for the electric arc heaters in the steel industry. It is crystalline and offers the properties needed for manufacturing graphite electrode. The factors that are playing a major role in the growth of the market are the growing production of electric vehicles and the high demand in graphite electrodes and lithium-ion batteries. However, the high cost of graphite electrodes and the environment related concerns may restrain overall market growth in the years to come. Needle coke market is segmented based on product type, grade, application, and region. Coal tar pitch and petroleum-derived are the product types that could be explored in needle coke in the forecast period. Petroleum-derived needle coke sector accounted for the substantial market share of needle coke and is estimated to continue its dominance in the years to come. Super premium (SP), intermediate (I), and premium (P) are the grades that could be explored in needle coke in needle coke industry in the forecast period. The superpremium sector accounted for the substantial market share of needle coke and is estimated to lead the overall market in the years to come. Browse Full Research Report @ https://www.millioninsights.com/industry-reports/needle-coke-market