Needle Coke Market Analysis

Needle Coke Market Analysis

To get key market trends

  Download Free Sample

Based on grade, the market is segmented into fuel grade & calcined petcoke. The fuel grade petcoke industry is projected to surpass over USD 6.5 billion by 2032. Innovations in production technologies are improving the yield and quality of needle petroleum coke. The technological improvements are helping to meet the rising quality standards required by end-user industries, thereby supporting market growth.
 

Based on application, the needle coke market is divided into power plants, cement industry, steel industry, aluminum industry, among others, where steel industry is projected to grow over 5.5% through 2032. Increasing & exponential use of needle petroleum coke across steel industry owing to rapid industrialization and urbanization is fueling the expansion of steel production.
 

The Asia Pacific needle coke market is anticipated to surpass over USD 5 billion by 2032. Positive outlook toward aluminum and steel industries along with the rapid expansion and modernization of existing refineries will strengthen the business outlook across the region. Abundant availability and low cost of fuel have made it preferable for power generation as compared to its competitive counterparts including natural gas and coal.
 

The Needle petcoke industry across the U.S. has witnessed a steady growth on account of increasing industrial activities, energy needs, and the availability of petcoke as a byproduct of the refining process. Moreover, the robust investments across cement, power generation, steel, and aluminum industries have also paved way for industry expansion.