Carbonization Technologies Being Used to Create High-value Petroleum-derived Needle Coke: Fact.MR Analysis

GlobeNewswire—15 Jun 2022

United States, Rockville MD, June 15, 2022 (GLOBE NEWSWIRE) -- By the end of 2032, the global needle coke market is predicted to reach US$ 5.86 billion in valuation. Sales of needle coke market is expected to increase at a CAGR of 3.7% from 2022 to 2032, as per Fact.MR, a market research and competitive intelligence provider.

GrafTech International Ltd., a maker of petroleum coke and graphite electrodes, is receiving acclaim for its Seadrift freestanding petroleum needle coke factory, which is the first of its type.

Petroleum-derived needle coke is expected to generate more income and volume than coal-tar pitch-derived needle coke. At present, the petroleum-derived needle coke segment accounts for 56.5% of the global market share.

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Manufacturers of needle coke are investing in units that are not constrained by the demands and limits of traditional oil refineries. This assures a consistent and high-quality supply of petroleum-based needle coke. To expand the supply of premium petroleum-based needle coke, microscopy and sophisticated carbonization methods are being used.

Why is Petroleum-derived Needle Coke More in Demand than Coal-tar Pitch Needle Coke?

“High Consumption of Petroleum-derived Needle Coke in Steel Industry”

In 2022, petroleum-derived and coal tar pitch-derived needle coke segments are expected to account for 56.5% and 43.5% of the global market share respectively.

The steel industry's demand for synthetic graphite electrodes for Electric Arc Furnaces (EAFs) and lithium-ion battery anode material is driving the demand for petroleum-derived needle cokes.

Coal-tar pitch needle coke is made from coal tar, a by-product of the coke-making process. Because of its good physical-chemical qualities, refined coal-tar needle pitch coke is regarded as a viable material for the manufacturing of needle coke.

Production of needle coke from coal tar pitches has an advantage over petroleum coke in that it is more fragrant and has fewer adverse effects. Needle coke made from coal-based feedstock could outperform needle coke made from petroleum-based feedstock with suitable industrial treatment.

 

Link: https://www.globenewswire.com/news-release/2022/06/16/2463577/0/en/Carbonization-Technologies-Being-Used-to-Create-High-value-Petroleum-derived-Needle-Coke-Fact-MR-Analysis.html