Needle Coke Market Forecast 2027: Trends & Competition
The global needle coke market is expected to witness significant growth in the forecast period i.e. 2023-2027. Needle Coke is a specialty grade carbon final & raw material extracted from the ethylene tar pitch, low-Sulphur vacuum residues, coal tar pitch, petroleum fluidizing catalytic cracking (FCC), and refined solvent coal. Needle coke possesses exceptional strength, high-temperature resistance, ionizability, bulk density, superior electric conductivity, low coefficient of thermal expansion, and bulk density. All these characteristic helps them to increase the demand for needle coke worldwide. According to World Steel Association AISBL, in 2021, the global average production of crude steel worldwide reached 1,953,304 thousand tons per year. The needle coke produces graphite electrodes for the steel industry to melt steel scrap or scrap substitute. Thus, as the demand for crude steel increases, the need for needle coke will rise in the projected year. Ongoing ...