Petroleum Needle Coke Market to Expand Exponentially Owing to Rising Demand for Graphite Electrodes from the Steel Industry


Posted March 4, 2019 by sakshiTMR

The TMR report anticipates that the rise in the demand for graphite electrodes from the steel industry will drive the petroleum needle coke market during the forecast period i.e, 2018-2026.

 
Transparency Market Research in its new report titled, “Petroleum Needle Coke Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the petroleum needle coke market. The TMR report anticipates that the rise in the demand for graphite electrodes from the steel industry will drive the petroleum needle coke market during the forecast period i.e, 2018-2026. High demand for steel from industries such as automotive, transport, building & construction, electrical engineering, consumer goods, foil & packaging, machinery & equipment, and others is propelling the steel industry. A factor restraining the global petroleum needle coke market is strict environmental regulations on the use of petroleum coke. Furthermore, the market is also affected by the highly volatile prices of fuel, says the report.
The report states that in terms of application, petroleum needle coke is utilized in the steel industry for the production of graphite electrodes, high power intermediates, carbon materials, and surging carbon intermediates. In terms of type, the petroleum needle coke market is split into intermediate, premium, and super premium grades coke depending upon the sulfur content. Lower the sulfur content, higher is the grade of coke. The grades are decided based on the fineness of the coke. Super premium grade coke is used for the manufacturing of the ultra-high power graphite electrodes, which are used in electric arc furnaces in the steel and aluminum industry. Super premium grade sulfur offers superior properties such as low ash, low sulfur content, and low coefficient of thermal expansion. Premium coke and intermediate coke is used less in the steel and aluminum industries as compared to super premium grade coke.
From a regional perspective, the petroleum needle coke market is divided into North America, Asia Pacific, Europe, and Middle East & Africa. Among these, the market in Asia pacific is expected to expand at the significant rate during the forecast period, due to heavy demand from the steel and aluminum industries. China is estimated to be a significant producer and consumer of petroleum needle coke in the Asia Pacific region. Production of petroleum needle coke in India is expected to rise due to increase in demand from the construction and building industries. The market in North America is expected to expand at a moderate pace over the forecast period, owing to technological advancements in the region. The petroleum needle coke market in Europe is expected to be stable due to steady demand from the steel industry. The market in Latin America and Middle East & Africa is expected to expand at a sluggish pace during the forecast period.
Major players operating in the global petroleum needle coke market include Indian Oil Corporation Ltd, Royal Dutch Shell Plc., Phillips 66, Essar Oil Ltd, Seadrift Coke LP, Baotailong New Material Co., Ltd., JXTG Holdings, Inc. Petrochina International Jinzhou Petrochemical Co., Ltd., Reliance Industries Ltd, Mitsubishi Chemical Corporation, C-Chem CO., LTD., PETROLEUM COKE INDUSTRIES CO. (K.S.C), , Sinopec Shanghai Petrochemical Company Limited, Shanxi Hongte Coal Chemical Co Ltd., and Shijiazhuang Deli Chemical Co.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Issued By Transparency Market Research
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Business Address 90 State Street, Suite 700 Albany, NY 12207
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Categories Biotech
Tags Petroleum Needle Coke , Petroleum Needle Coke Market , Petroleum Needle Coke Market Size
Last Updated March 4, 2019