Needle Coke Market is Predicted to Reach US$ 6.60 Billion by 2035, Expanding at a CAGR of 3.7% | Fact.MR

Needle Coke Market to Grow Steadily Driven by Rising Demand in EV Batteries and Steel Recycling Applications Through 2035.

ROCKVILLE, MD, UNITED STATES, June 13, 2025 /EINPresswire.com/ -- According to Fact.MR, the global needle coke market is expected to grow at a steady CAGR of 3.7% from 2025 to 2035, driven by strong steel industry demand and the rising adoption of electric vehicles. The market is projected to increase from USD 4.58 billion in 2025 to over USD 6.60 billion by 2035. Needle coke, a highly crystalline petroleum product, continues to be a critical raw material for lithium-ion battery anodes and graphite electrodes used in electric arc furnaces.

The growing demand for lithium-ion batteries, particularly for electric vehicles and energy storage systems, is reshaping the market landscape. Fact.MR highlights that advancements in battery chemistry—especially the shift toward high-energy-density batteries—will further boost needle coke consumption. Additionally, global green initiatives promoting steel recycling over traditional blast furnace methods are increasing the use of electric arc furnaces, further driving demand for needle coke.

For More Insights into the Market, Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=8146

Needle Coke Industry Demand Analysis and Impact

The needle coke industry operates within a complex value chain shaped by interdependent stakeholders, each playing a distinct role in its development. Central to this chain are the producers—primarily petroleum refineries and coal-based chemical companies—responsible for supplying the highly crystalline feedstock.

These upstream manufacturers hold a pivotal position, as they influence both the quality and availability of needle coke. Strict regulations on emissions and operational efficiency are prompting these producers to invest in advanced refining technologies and cleaner production methods. Their strategic decisions—such as capacity expansions or product diversification—have a direct impact on supply dynamics, pricing, and the stability of downstream markets.

Country-Wise Analysis of the Needle Coke Market

United States: The market is projected to expand at a CAGR of 3.4%, driven by strong demand from electric arc furnace (EAF) steel production and the growing electric vehicle (EV) sector. These industries continue to prioritize sustainability and innovation, reinforcing needle coke consumption.

China: With a forecasted CAGR of 4.2%, China remains a major consumer due to its position as the world’s largest steel producer and a global leader in EV manufacturing. Government support for green technologies and ongoing infrastructure development are key contributors to market expansion.

United Kingdom: Sales are expected to grow at a CAGR of 3.1%. The U.K.’s focus on decarbonizing its steel industry and advancing EV adoption is driving demand. Additionally, increased R&D in low-carbon production methods is gaining traction. However, post-Brexit regulatory shifts and trade uncertainties may pose challenges while also creating new strategic opportunities.

Key Players

Mitsubishi Chemical Holding Corporation
Indian Oil Corporation
Phillips 66
JXTG Holdings Inc.
Seadrift Coke L.P.
C-Chem Co., LTD
Petroleum Coke Industries Company K.S.C
Baotailong New Material Co., Ltd.
Bao-steel Group
Sinopec Shanghai Petrochemical Company Limited
Shanxi Hongte Coal Chemical Co., Ltd.
Sinosteel Anshan Research Institute of Thermo-Energy Co.
PetroChina International Jinzhou Petrochemical Co., Ltd.
Shijiazhuang Deli Chemical Co.
Petrocokes Japan Ltd.

Key Strategies

In response to the fast-changing dynamics of the global carbon materials industry, manufacturers are increasingly pursuing vertical integration and technological diversification. To mitigate price volatility, many are securing raw material supply by entering into long-term contracts for petroleum and coal tar feedstocks. This strategic approach helps stabilize input costs and strengthens supply chain resilience.

Simultaneously, leading producers are investing in proprietary refining and calcination technologies to achieve higher product purity and consistency. These advancements are aimed at tapping into high-growth segments such as ultra-high-power graphite electrodes and lithium-ion battery anodes. As demand rises for energy-efficient and high-performance materials, especially in the energy storage and metallurgical sectors, manufacturers are focusing on delivering superior quality to meet increasingly stringent requirements.

These initiatives not only enhance product performance and unlock new applications but also improve profit margins and competitive positioning in the global market.

Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=S&rep_id=8146

Segmentation

By Type :
Petroleum-derived Needle Coke
Coal Tar Pitch-derived Needle Coke
By Grade :
Intermediate Premium Needle Coke
Base Premium Needle Coke
Super Premium Needle Coke
By Application :
Graphite Electrodes
Lithium-ion Batteries
Other Applications
By Region :
North America
Latin America
Europe
Asia Pacific
MEA

Check out More Related Studies Published by Fact.MR:

The global specialty pulp & paper chemicals market is expected to grow from USD 26.6 billion in 2025 to USD 46.1 billion by 2035, registering a CAGR of 3.3%, according to Fact.MR analysis.

The global radar absorbing materials coating market is projected to grow from USD 52.0 million in 2025 to USD 109.6 million by 2035, at a CAGR of 6.5%, according to Fact.MR analysis.

About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive.

Contact:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team: sales@factmr.com
Follow Us: LinkedIn | Twitter | Blog

S. N. Jha
Fact.MR
+1 628-251-1583
sales@factmr.com

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.