Needle Coke Market Size is USD 3.59 Billion By 2027

 Surging product demand from the steel industry and increased demand for lithium-ion batteries with a rising electric vehicles trend will stimulate market growth.

The Needle Coke Market size is estimated to reach USD 5.85 billion in terms of annual valuation from 3.59 billion in 2019, delivering a CAGR of 6.4% through 2027. Growing product demand for the manufacturing of electrodes, silicon metal & ferroalloys, rubber compounds, and others, will drive needle coke market growth through the forecast period. Needle coke is a crucial raw material used in the steel & aluminum industries and for the manufacturing of graphite electrodes. The rapid growth of the consumer electronics sector and increasing consumer preference for electric and hybrid vehicles is likely to fuel the demand for needle coke. The growing demand is attributed to the extensive usage of lithium-ion batteries in hybrid electric vehicles, battery electric vehicles, consumer electronics, and other applications.

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Top Leading Players: Phillips 66, Graftech International, Mitsubishi Chemical Corporation, Sumitomo Chemical Company, China National Petroleum Corporation, Indian Oil Corporation Limited, Asbury Carbon Inc., Sojitz Ject Corporation, Graphite India Limited, and Baosteel Group, among others.

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