Global Petroleum Needle Coke Market Growth 2025-2031

The global Petroleum Needle Coke market size is predicted to grow from US$ 5415 million in 2025 to US$ 19170 million in 2031; it is expected to grow at a CAGR of 23.5% from 2025 to 2031.

Needle coke is a high-quality variety of carbon materials that has been vigorously developed. It has a silver-gray, metallic-luster porous solid appearance. Its structure has obvious flow texture, large and few pores and slightly elliptical. The particles have a large aspect ratio, a fibrous or needle-like texture, and feel lubricated. It is the raw material for producing high-end carbon products such as electric arc furnace steelmaking, special carbon materials, carbon fiber and its composite materials.

According to the different production raw materials, needle coke can be divided into oil-based needle coke and coal-based needle coke. Needle coke produced with petroleum residue as raw material is oil-based needle coke; needle coke produced with coal tar pitch and its fractions as raw materials is coal-based needle coke. The production method of oil-based needle coke was developed by the United States in the late 1950s. It uses heavy distillate oils from petroleum processing plants such as thermal cracking residue oil and catalytic cracking clarified oil as raw materials, and is produced through delayed coking and calcination processes to produce oil-based needle coke. This report focuses on oil-based needle coke.

From a regional perspective, China is the largest consumer and producer. The market has changed rapidly in the past few years, with sales accounting for about 61%.

In terms of product type and technology, electrode coke revenue accounts for the largest share, accounting for 68%. From the perspective of product market application, electric arc furnace steelmaking accounts for the largest share, and the new energy vehicle market changes the fastest, with the automobile market accounting for 19%. Needle coke is used in two fields: lithium battery negative electrode and graphite electrode. Needle coke is a high-quality variety that was vigorously developed in carbon materials in the 1970s. It belongs to artificial graphite and has a series of advantages such as low thermal expansion coefficient, low porosity, low sulfur, low ash content, low metal content, high conductivity and easy graphitization. Its graphitized products have good chemical stability, corrosion resistance, high thermal conductivity, and good mechanical strength at low and high temperatures. Needle coke is divided into raw coke and cooked coke. Raw coke is mainly used to produce negative electrode materials, and the downstream is mainly new energy vehicles; cooked coke is mainly used to produce graphite electrodes, and the downstream is the steel smelting industry. Among them, needle coke is used for lithium battery negative electrode materials, and the future market space is broad.

Currently, the world's major manufacturers include Phillips 66, Jinzhou Petrochemical, Sinopec, Yida New Materials and GrafTech, with Phillips 66 accounting for 26% of the global market share. The needle coke industry has high technical barriers and certain requirements for raw material quality. From the perspective of global needle coke production areas, needle coke production companies are mainly concentrated in countries that have mastered the large-scale industrial production capabilities of needle coke products, such as the United Kingdom, the United States, Japan, South Korea and China. From the perspective of domestic needle coke production areas, my country's needle coke production companies are distributed in East China, Northeast China, North China, Central China and other regions, and oil-based needle coke is mainly concentrated in Shandong and other regions where the petroleum refining industry is relatively developed.

LP Information, Inc. (LPI) ' newest research report, the “Petroleum Needle Coke Industry Forecast” looks at past sales and reviews total world Petroleum Needle Coke sales in 2024, providing a comprehensive analysis by region and market sector of projected Petroleum Needle Coke sales for 2025 through 2031. With Petroleum Needle Coke sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Petroleum Needle Coke industry.

This Insight Report provides a comprehensive analysis of the global Petroleum Needle Coke landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Petroleum Needle Coke portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Petroleum Needle Coke market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Petroleum Needle Coke and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Petroleum Needle Coke.

This report presents a comprehensive overview, market shares, and growth opportunities of Petroleum Needle Coke market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Electrode Coke
Negative Coke

Segmentation by Application:
Electric Arc Furnace Steelmaking
Automobile
Consumer Electronics
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Phillips 66
GrafTech
Eneos
Sumitomo Corporation
CNPC Jinzhou Petrochemical
Sinopec
Shandong Yida New Materials
Liaoning Baolai
Shandong Jingyang
Weifang Fumei

Key Questions Addressed in this Report

What is the 10-year outlook for the global Petroleum Needle Coke market?

What factors are driving Petroleum Needle Coke market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Petroleum Needle Coke market opportunities vary by end market size?

How does Petroleum Needle Coke break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.