<div id="readability-page-1"><div> <div> , /PRNewswire/ -- What is the Market Size of Petroleum Needle Coke? The global market for Petroleum Needle Coke was estimated to be worth USD 4600 Million in 2024 and is forecast to a readjusted size of USD 18810 Million by 2031 with a CAGR of 22.6% during the forecast period 2025-2031. Get Free Sample: https://reports.valuates.com/request/sample/QYRE-Auto-34L8663/Global_Petroleum_Needle_Coke_Market What are the key factors driving the growth of the Petroleum Needle Coke- Market? The petroleum needle coke market represents a critical intersection of industrial sustainability, technological adaptation, and strategic energy transformation. Its applications across steel, battery, and energy sectors create a robust demand foundation anchored in global decarbonization goals. Producers increasingly focus on refining efficiency, quality control, and resource optimization to cater to emerging industries and regulatory standards. As clean technologies and circular economy principles reshape manufacturing priorities, petroleum needle coke remains integral to enabling high-performance processes and energy systems. This enduring relevance reinforces its status as an essential industrial material shaping the evolution of sustainable production worldwide. Source from Valuates Reports: https://reports.valuates.com/market-reports/QYRE-Auto-34L8663/global-petroleum-needle-coke <div>TRENDS INFLUENCING THE GROWTH OF THE PETROLEUM NEEDLE COKE- MARKET:</div> Electrode coke acts as a crucial feedstock in the production of graphite electrodes used in electric arc furnaces, which are essential for steelmaking. The purity, low sulfur content, and high structural integrity of petroleum needle coke enable the manufacture of high-performance electrodes that can withstand intense heat and electrical stress. As the steel industry moves toward energy-efficient and low-emission production methods, demand for premium electrode materials continues to rise. The superior crystallinity and conductivity properties of petroleum needle coke make it indispensable for achieving consistent performance in metallurgical processes, thereby strengthening its role in the electrode coke segment and fueling the steady expansion of the global petroleum needle coke market. Petroleum needle coke serves as a vital raw material for producing anodes in lithium-ion batteries, commonly referred to as negative coke. The precision structure and low impurity levels make it ideal for achieving high energy density and improved charge cycles in advanced batteries. As global adoption of electric vehicles and renewable energy storage systems accelerates, the demand for efficient battery-grade anode materials intensifies. Petroleum needle coke supports this transformation by offering consistent quality and superior graphitization characteristics, which enhance battery performance and longevity. The growing preference for sustainable and high-performance power sources directly increases the consumption of petroleum needle coke in anode manufacturing, propelling steady market growth worldwide. The rise in steel recycling and the transition to electric arc furnace technology amplify the demand for graphite electrodes derived from petroleum needle coke. The eco-friendly advantages of recycling steel, combined with global efforts to reduce carbon emissions, drive steel producers toward efficient and sustainable furnace operations. Petroleum needle coke's structural uniformity and thermal stability ensure superior electrode performance, which is critical for maintaining production consistency. This sustainable steelmaking shift significantly enhances needle coke consumption, establishing a strong link between green manufacturing and market growth while aligning industrial strategies with global decarbonization objectives. The accelerating production of electric vehicles increases the need for high-quality lithium-ion batteries, in which petroleum needle coke is a key component for anode manufacturing. Its unique crystalline structure enables fast charging, extended life cycles, and stable energy storage, all crucial for modern EVs. Manufacturers increasingly favor petroleum needle coke due to its ability to produce dense, high-purity graphite essential for battery efficiency. As automakers expand EV portfolios and invest in domestic battery supply chains, petroleum needle coke demand continues to grow, reinforcing its strategic role in advancing clean transportation and sustaining the global transition toward zero-emission mobility. Industries seeking durable, thermally stable, and electrically conductive carbon materials rely heavily on petroleum needle coke. Its exceptional anisotropic characteristics make it suitable for advanced applications beyond traditional steel and battery use, such as aerospace and energy storage devices. The preference for high-performance materials in extreme environments accelerates innovation across multiple end-use industries. Petroleum needle coke supports this growth by offering the necessary balance between mechanical strength and conductivity. As the industrial landscape diversifies, the material's superior quality and versatility position it as a cornerstone for emerging technologies, bolstering market resilience and broadening application scopes worldwide. Rapid industrialization and urban development across emerging economies stimulate massive demand for steel and batteries, both dependent on petroleum needle coke. Countries focusing on infrastructure growth and automotive manufacturing are adopting advanced production technologies requiring reliable electrode and anode materials. Local steel producers and battery makers increasingly invest in domestic needle coke production facilities to reduce import dependency. This industrial momentum enhances regional consumption and supply chain stability. As governments support energy-efficient and renewable solutions, petroleum needle coke becomes integral to sustainable industrial development, ensuring long-term demand from construction, mobility, and heavy manufacturing sectors. The global shift toward renewable energy integration drives the adoption of large-scale energy storage systems, further increasing the need for petroleum needle coke in high-capacity batteries. Its contribution to producing stable, efficient anode materials ensures reliability in storing intermittent solar and wind energy. Utilities and energy developers prioritize storage solutions built with materials that guarantee durability and consistency under varying operational loads. Petroleum needle coke fulfills these criteria, linking its market demand closely to the clean energy transition. The synergy between grid-scale storage expansion and carbon material innovation amplifies its significance across the global energy ecosystem. Claim Yours Now! https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-34L8663&amp;lic=single-user What are the major types in the Petroleum Needle Coke- Market? <ul type="disc"> <li>Electrode Coke</li> <li>Negative Coke</li> </ul> What are the main applications of the Petroleum Needle Coke- Market? <ul type="disc"> <li>Electric Arc Furnace Steelmaking</li> <li>Automobile</li> <li>Consumer Electronics</li> <li>Others</li> </ul> Key Players in the Petroleum Needle Coke- Market <ul type="disc"> <li>Phillips 66 produces high-purity petroleum needle coke used globally in ultra-high-power graphite electrodes for electric arc furnace steelmaking.</li> <li>GrafTech operates one of the world's only integrated graphite electrode supply chains, manufacturing petroleum needle coke through its Seadrift facility.</li> <li>Eneos supplies premium-grade petroleum needle coke derived from its advanced refining operations in Japan for electrode and battery material applications.</li> <li>Sumitomo Corporation participates in the petroleum needle coke market through its global materials trading business, supporting supply for steel and carbon industries.</li> <li>CNPC Jinzhou Petrochemical is a major Chinese producer of petroleum needle coke used in UHP graphite electrode manufacturing.</li> <li>Sinopec manufactures petroleum needle coke through multiple refining subsidiaries, serving China's expanding graphite electrode and carbon materials sector.</li> <li>Shandong Yida New Materials produces petroleum needle coke and related carbon products for industrial electrode and high-temperature applications.</li> <li>Liaoning Baolai manufactures petroleum needle coke for graphite electrode producers and other carbon-intensive industries.</li> <li>Shandong Jingyang specializes in petroleum needle coke production to meet demand from high-power and ultra-high-power electrode markets.</li> <li>Weifang Fumei supplies petroleum needle coke and specialty carbon materials used in graphite electrodes and metallurgical processes.</li> </ul> Market Share Analysis of Petroleum Needle Coke- Market Global key players of petroleum needle coke include Phillips 66, CNPC Jinzhou Petrochemical, Sinopec and Shandong Yida New Materials. The top four players hold a share of about 55%. The global origin is mainly distributed in North America, Europe, China, Japan, etc., of which China is the largest production area, occupying more than 60% of the market share. In terms of product, electrode coke is the largest segment, with a share of about 59%. In terms of application, electric arc furnace steelmaking is the largest application, with a share of about 59%. Purchase Regional Report: https://reports.valuates.com/request/regional/QYRE-Auto-34L8663/Global_Petroleum_Needle_Coke_Market SUBSCRIPTION We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans. What are some related markets to the Petroleum Needle Coke- Market? - In 2024, the global market size of Pitch Coke was estimated to be worth USD 795 Million and is forecast to reach approximately USD 968 Million by 2031 with a CAGR of 2.9% during the forecast period 2025-2031. - Graphite Anode Materials for Lithium-ion Batteries Market - The global market for Spherical Graphite was valued at USD 874 Million in the year 2024 and is projected to reach a revised size of USD 1658 Million by 2031, growing at a CAGR of 9.7% during the forecast period. - The global market for Needle Coke for Graphite Electrode was valued at USD 1755 Million in the year 2024 and is projected to reach a revised size of USD 2746 Million by 2031, growing at a CAGR of 6.7% during the forecast period. - The global market for Coke was valued at USD 274860 Million in the year 2024 and is projected to reach a revised size of USD 259320 Million by 2031, growing at a CAGR of -0.8% during the forecast period. - The global market for Graphitized Petroleum Coke Particles was valued at USD 13250 Million in the year 2024 and is projected to reach a revised size of USD 16080 Million by 2031, growing at a CAGR of 2.9% during the forecast period. - The global market for Anode Grade Petroleum Coke was valued at USD 9064 Million in the year 2024 and is projected to reach a revised size of USD 11340 Million by 2031, growing at a CAGR of 3.3% during the forecast period. - In 2024, the global market size of Calcined Petroleum Coke was estimated to be worth USD 13200 Million and is forecast to reach approximately USD 15940 Million by 2031 with a CAGR of 2.8% during the forecast period 2025-2031. - Graphite Petroleum Coke Market - Anode Grade Coke Market - Petroleum Coke for EV Batteries Market - Acicular Pitch Coke Market - The global market for Blast Furnace Coke was estimated to be worth USD 2761 Million in 2023 and is forecast to a readjusted size of USD 4155 Million by 2030 with a CAGR of 6.1% during the forecast period 2024-2030. 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The Petroleum Needle Coke market is projected to grow from USD 4600 Million in 2024 to USD 18.81 Billion by 2031, driven by demand in EV and EAF steel sectors. Key growth factors include its use in graphite electrodes for steelmaking and anodes in lithium-ion batteries. The market benefits from global decarbonization goals, sustainable manufacturing, and increased EV production, highlighting its importance in clean technologies and industrial sustainability.

11:22 ET Petroleum Needle Coke Market to Reach USD 18.81 Billion by 2031, Driven by EV and EAF Steel Demand | Valuates Reports