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WILMINGTON, Delaware, November 12, 2023 (GLOBE NEWSWIRE) — Allied Market Research released a report titled, “Global Assessment and Industry Analysis of Needle Coke Market by Type (Derived from Petroleum, Derived from Coal), and by Application (Graphite Electrode, Lithium-Ion Battery, Special Carbon Materials, Rubber Compounds, Other): 2021-2031“. According to the report, the global Sui Kok Market is projected to accumulate revenues of $5.7 billion by 2031, displaying a significant increase from $2.3 billion in 2021, with an estimated CAGR of 9.8% in the forecast period 2022-2031.
Evaluation of a significant occurrence
The expansion of the worldwide needle coke market can be ascribed to the rising favorability of top-notch grade needle coke across varying industries due to its exceptional attributes and chemical composition. Nonetheless, the high production costs of needle coke may impede market expansion. Nevertheless, the advancements in needle coke production technology are anticipated to foster substantial investment opportunities in the market.
Access sample sections of the research overview: https://www.alliedmarketresearch.com/request-sample/17830
The most lucrative section is derived from petroleum
In terms of type, the segment derived from petroleum dominated the market in 2021, contributing to nearly two-thirds of the total revenue. This segment is also expected to demonstrate the highest CAGR of 10.2% throughout the forecast period. The growing expansion of cement and power generation sectors is predicted to propel market growth.
It is expected that graphite electrodes will be among the most valuable by 2031
In terms of application, the graphite electrodes segment held the majority of the market share, accounting for approximately four-fifths of the total market revenue. The widespread utilization of graphite electrodes in steel and other non-ferrous metal production is expected to significantly contribute to the growth of this segment. Conversely, the lithium-ion battery segment is projected to exhibit the highest CAGR of 11.1% during the analytical time frame. The increasing use of needle coke in lithium-ion batteries for various consumer electronics is poised to aid market expansion.
Obtain the complete report (200 Pages with insights, charts, tables and figures PDF) @ https://bit.ly/49tqQbQ
Asia Pacific presents an extremely profitable opportunity
In 2021, the Asia Pacific region generated the highest revenue, capturing about three-fifths of the total share. This sector is anticipated to grow at a CAGR of 10.7% from 2022 to 2031. The market is anticipated to expand further due to the growing scope of graphite electrode production driven by the increased demand for electric vehicles.
Key companies in the sector
- Essar Oil Limited
- Nippon Steel Corporation
- Reliance Industries
- HEG Limited
- Petroleum Coke Industry
- Shell Global
- Indian Oil Corporation
- Sumitomo Corporation
- Tokai Carbon Company Limited
- Asbury Carbons Inc.
- Graphtec International Limited
- Baosteel Group
- Mott Corporation
- Philips 66
- Mitsubishi Chemical Corporation
The report also examines major companies in the industry and their various strategies, including collaborations and partnerships, while also portraying the competitive landscape of the market.
Desire access to statistical data and graphs, and strategies of major players: https://www.alliedmarketresearch.com/needle-coke-market/purchase-options
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Allied Market Research (AMR) is a full-service market research and business-consulting division of Allied Analytics LLP, headquartered in Portland, Oregon. Allied Market Research offers unparalleled quality to global enterprises as well as small and medium businesses, providing services like “business intelligence solutions” and “market research reports.” AMR aims to deliver business insights and consulting to aid its clients in making strategic business decisions and achieving sustainable growth in their respective market sectors.
Pawan Kumar, CEO of Allied Market Research, is leading the organization in delivering high-quality data and insights. We maintain professional corporate relationships with various entities, enabling us to gather market data that ensures the precision of our research data tables and market forecasts. Every data presented in our reports is obtained through primary interviews with top executives of leading companies in the respective sector. We employ a rigorous methodology for acquiring secondary data, including extensive online and offline research and discussions with knowledgeable professionals and analysts in the industry.
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