Global Needle Coke Market to Grow on the Back of Growing Demand for Steel Worldwide; Market to Grow with a CAGR of 6.73% During 2021-2030

 

Kenneth Research has released a report titled “Needle Coke Market: Global Demand Analysis & Opportunity Outlook 2030” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.

The production of crude steel around the globe, according to the statistics by the World Steel Association, increased from 189 Million Tonnes in the year 1950 to 1878 Million Tonnes in the year 2020.

The statistics portray the growing demand for steel across different end-use industries. As a result, there is a growing need amongst the manufacturers of steel to increase the production of steel, so as to meet the rising demand for steel. Needle coke forms an important component in the manufacturing process of steel, and hence with the growing production of steel, the demand for needle coke is also anticipated to grow significantly. Such a factor is therefore anticipated to drive the growth of the market in the coming years.

The global needle coke market is anticipated to grow with a CAGR of 6.73% over the forecast period, i.e., 2021 – 2030. The market is estimated to garner a revenue of USD 4085.6 Million by the end of 2030. Additionally, in the year 2020, the market generated a revenue of USD 2168.7 Million. The market is segmented by grade into intermediate, premium, and super-premium. The super-premium segment, out of all the other segments, projected to display the largest revenue of USD 2217.7 Million by the end of 2030. Moreover, the segment registered a revenue of USD 1072.8 Million in the year 2020.


By region, the global needle coke market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in the Asia Pacific is expected to garner the largest revenue of USD 1809.1 Million by the end of 2030. Moreover, the market in the region registered a revenue of USD 937.1 Million in the year 2020.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

However, the fluctuating prices of graphite electrodes is predicted to hinder the market growth in the coming years.

This report also provides the existing competitive scenario of some of the key players of the global needle coke market, which includes company profiling of Asbury Carbons Inc., NIPPON STEEL CORPORATION, ENEOS Holdings Co., Ltd., GrafTech International Ltd., Graphite India Limited, HEG Limited, Mitsubishi Chemical Holdings Corporation, Phillips 66 Company, Sojitz Corporation, Sumitomo Corporation, Tokai Carbon Co., Ltd., and others.

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Needle Coke Market: Global Demand Analysis & Opportunity Outlook 2030”, analyses the overall global needle coke industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global needle coke market in the near future.

Request Report Sample@https://www.kennethresearch.com/sample-request-10352385

Kenneth Research is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment, etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

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