Graphite And Graphene Are The Fastest Growing Segments Fueling The Growth of Needle Coke Market
The global Needle Coke Market is estimated to be valued at US$ 2.99 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Needle coke is a special grade form of petroleum coke that is used in the production of graphite electrodes for electric arc furnaces as well as lithium-ion batteries. It provides high mechanical strength, corrosion resistance and thermal shock resistance making it suitable for applications requiring high temperature stability. Market Key Trends: One of the key trends driving the growth of the needle coke market is the increasing consumption of graphite electrodes in electric arc furnace steel production. Graphite electrodes act as electrodes in electric arc furnaces used for steel production. Needle coke is the primary raw material used in the production of graphite electrodes. As steel production through electric arc furnace...