Increasing Use in Lithium-ion Batteries, Graphite Electrode, Nuclear Industry to Drive Needle Coke Market, says TMR

-  The growing need for innovative specialty carbon products to open up new avenues in coal-based-needle coke production technology

-  Needle coke is used in the making of nuclear graphite as well. The growing demand in nuclear sector is likely to support the growth of the needle coke market.

ALBANY, N.Y., July 29, 2021 /PRNewswire/ -- The global needle coke market is driven by the growing requirements of the nuclear power sector. Needle coke is used in the making of nuclear graphite, which is utilized in nuclear furnaces. In the foreseeable future, the nuclear sector is projected to be driven by the increase in the number of nuclear projects. Economic growth, population rise, and rapid urbanization are expected to increase energy consumption in the upcoming years. The global needle coke market is projected to expand at a CAGR of 4.8% during the forecast period, from 2021 to 2031, in terms of value. However, the market has experienced a downturn as a result of the coronavirus outbreak. Poor market sentiment has resulted in the decreased demand for products and services, causing production operations at steel plants to halt, thereby leading to a decline in the demand for needle coke. Companies in the market are making use of the plug-and-play technology to produce needle coke to meet consumer demand. Thus, the needle coke market is expected to observe growth opportunities in the nuclear energy sector.

Strong expertise with attention to detail makes our market research reports stand apart. Request a sample now - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2258

Key Findings of Market Report

• Growing Demand for Needle Coke in Steel Industry to Develop Graphite Electrodes to Boost Global Market

The steel industry relies heavily on needle coke. It is utilized as a basic material in the manufacturing of graphite electrodes. Graphite electrodes are also utilized in the production of steel. The global needle coke market is also being driven by the rise of the metal business in both developing as well as industrialized nations.

Request the Corona Virus impact analysis on Needle Coke Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=2258

Needle coke is a common substance utilized as a heating element in electric arc furnaces (EAFs), which are used in the production of steel. Due to increasing environmental restrictions, manufacturers of steel are choosing the EAF process of steel manufacturing over the blast furnace-blast oxygen furnace (BOF) method. The BOF method requires 0.2 kg to 0.3 kg of graphite electrode to make 1 ton of steel. The EAF method, on the other hand, needs around 0.7 kg to 0.8 kg of it to produce the same quantity of steel. As such, the increasing demand for graphite electrode is likely to drive the global needle coke market in the near future.

• Use of Advanced Coal-based Needle Coke Manufacturing Technology to Innovate in Specialty Carbon Products

The demand for needle coke is being fueled by the use of high-grade carbon products. In order to drive innovation in specialty carbon products, needle coke producers are upgrading the coal-based needle coke manufacturing technology. Moreover, vital applications such as semiconductor manufacturing equipment and nuclear power require these materials in large quantities.

In addition, specialty carbon products are utilized in the production of solar energy. Large amounts of raw materials are procured by manufacturers to increase the supply of high-value carbon material items. A steady supply of needle coke and associated products for lithium-ion batteries, graphite electrodes, and specialty carbon materials is ensured by the plentiful availability of raw materials.

Buy our Premium Research Report on Needle Coke Market @ https://www.transparencymarketresearch.com/checkout.php?rep_id=2258&ltype=S

Needle Coke Market: Growth Drivers

• Due to its higher energy density, petroleum needle coke is preferred over coal pitch needle coke. As a result, needle coke makers are exploring revenue potential in lithium-ion batteries with extended lifespan. Petroleum-based needle coke is being produced using advanced carbonization and microscopy technology.
• Use of needle coke in the battery manufacturing sector is on the rise, particularly in developing and industrialized countries such as Japan, India, the U.S., and the U.K. In developing countries including India, there has been a rise in government measures to promote foreign investment in the metal sector, thus driving the needle coke market.

Needle Coke Market: Key Competitors

• Sinosteel Anshan Research Institute of Thermo-Energy Co.
• Mitsubishi Chemical Holding Corporation
• Sinopec Shanghai Petrochemical Company Limited
• JXTG Holdings Inc.
• Petrochina International Jinzhou
• Baotailong New Material Co., Ltd.

Needle Coke Market: Segmentation

Type

• Petroleum Derived
• Coal Tar Pitch Derived

Grade

• Intermediate
• Premium
• Super Premium

Application

• Graphite Electrodes
• Lithium-ion Batteries

Chemicals & Materials Industry battles Tangible Impact of Economic and Cultural changes, Explore Transparency Market Research's award-winning coverage of the global Chemicals & Materialhttps://www.transparencymarketresearch.com/food-beverages-market-reports-4.html Industry:

Photo Emulsion Market - The fluctuation in raw material prices is likely to hamper the photo emulsion market in Europe during the forecast period. The increase in the demand for photo emulsion in screen printing and textile printing is anticipated to drive the photo emulsion market in Europe during the next decade, as photo emulsion is extensively employed in these industries.

Dewatering Aids for Mining Market - The dewatering aids for mining market in Europe and Middle East & Africa was valued at US$ 148.3 Mn in 2020 and is expected to reach US$ 203.4 Mn by 2031, expanding at a CAGR of 3.2% during the forecast period of 2021 to 2031. Dewatering aids are used to reduce cake moisture in the filtration of mineral slurries, such as sulfide flotation concentrates, iron ore concentrates, and coal concentrates, and tailings and alumina trihydrate in the Bayer process. Dewatering aids in mining increase filtration throughput in mineral processing by reducing moisture content and improving release of the filter cake. They offer unique chemistry that can significantly increases production rates, and lowers energy and transportation costs.

About Us

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com 
Website: http://www.transparencymarketresearch.com 
Press Release Source: https://www.transparencymarketresearch.com/pressrelease/needle-coke-market.htm

Logo: https://mma.prnewswire.com/media/1085206/Transparency_Market_Research_Logo.jpg