The global Petroleum Needle Coke market size was US$ 4600 million in 2024 and is forecast to a readjusted size of US$ 18810 million by 2031 with a CAGR of 22.6% during the forecast period 2025-2031.
Needle coke is a high-quality variety of carbon materials that has been vigorously developed. It has a silver-gray, metallic-luster porous solid appearance. Its structure has obvious flow texture, large and few pores and slightly elliptical. The particles have a large aspect ratio, a fibrous or needle-like texture, and feel lubricated. It is the raw material for producing high-end carbon products such as electric arc furnace steelmaking, special carbon materials, carbon fiber and its composite materials.
According to the different production raw materials, needle coke can be divided into oil-based needle coke and coal-based needle coke. Needle coke produced with petroleum residue as raw material is oil-based needle coke; needle coke produced with coal tar pitch and its fractions as raw materials is coal-based needle coke. The production method of oil-based needle coke was developed by the United States in the late 1950s. It uses heavy distillate oils from petroleum processing plants such as thermal cracking residue oil and catalytic cracking clarified oil as raw materials, and is produced through delayed coking and calcination processes to produce oil-based needle coke. This report focuses on oil-based needle coke.
From a regional perspective, China is the largest consumer and producer. The market has changed rapidly in the past few years, with sales accounting for about 61%.
In terms of product type and technology, electrode coke revenue accounts for the largest share, accounting for 68%. From the perspective of product market application, electric arc furnace steelmaking accounts for the largest share, and the new energy vehicle market changes the fastest, with the automobile market accounting for 19%. Needle coke is used in two fields: lithium battery negative electrode and graphite electrode. Needle coke is a high-quality variety that was vigorously developed in carbon materials in the 1970s. It belongs to artificial graphite and has a series of advantages such as low thermal expansion coefficient, low porosity, low sulfur, low ash content, low metal content, high conductivity and easy graphitization. Its graphitized products have good chemical stability, corrosion resistance, high thermal conductivity, and good mechanical strength at low and high temperatures. Needle coke is divided into raw coke and cooked coke. Raw coke is mainly used to produce negative electrode materials, and the downstream is mainly new energy vehicles; cooked coke is mainly used to produce graphite electrodes, and the downstream is the steel smelting industry. Among them, needle coke is used for lithium battery negative electrode materials, and the future market space is broad.
Currently, the world's major manufacturers include Phillips 66, Jinzhou Petrochemical, Sinopec, Yida New Materials and GrafTech, with Phillips 66 accounting for 26% of the global market share. The needle coke industry has high technical barriers and certain requirements for raw material quality. From the perspective of global needle coke production areas, needle coke production companies are mainly concentrated in countries that have mastered the large-scale industrial production capabilities of needle coke products, such as the United Kingdom, the United States, Japan, South Korea and China. From the perspective of domestic needle coke production areas, my country's needle coke production companies are distributed in East China, Northeast China, North China, Central China and other regions, and oil-based needle coke is mainly concentrated in Shandong and other regions where the petroleum refining industry is relatively developed.
The global Petroleum Needle Coke market is strategically segmented by company, region (country), by Type, and by Application. This report empowers stakeholders to capitalize on emerging opportunities, optimize product strategies, and outperform competitors through data-driven insights on sales, revenue, and forecasts across regions, by Type, and by Application for 2020-2031.
Market Segmentation
By Company:
Phillips 66
GrafTech
Eneos
Sumitomo Corporation
CNPC Jinzhou Petrochemical
Sinopec
Shandong Yida New Materials
Liaoning Baolai
Shandong Jingyang
Weifang Fumei
By Type: (Dominant Segment vs High-Margin Innovation)
Electrode Coke
Negative Coke
By Application: (Core Demand Driver vs Emerging Opportunity)
Electric Arc Furnace Steelmaking
Automobile
Consumer Electronics
Others
By Region
Macro-Regional Analysis: Market Size & Growth Forecasts
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Micro-Local Market Deep Dive: Strategic Insights
- Competitive Landscape: Player dominance vs. disruptors (e.g., Phillips 66 in Europe)
- Emerging Product Trends: Electrode Coke adoption vs. Negative Coke premiumization
- Demand-Side Dynamics: Electric Arc Furnace Steelmaking growth in China vs. Automobile potential in North America
- Localized Consumer Needs: Regulatory hurdles in EU vs. price sensitivity in India
Focus Markets:
North America
Europe
China
Japan
Korea
Taiwan (China)
Chapter Outline
Chapter 1: Report scope, executive summary, and market evolution scenarios (short/mid/long term).
Chapter 2: Quantitative analysis of Petroleum Needle Coke market size and growth potential at global, regional, and country levels.
Chapter 3: Competitive benchmarking of manufacturers (revenue, market share, M&A, R&D focus).
Chapter 4: Type-based segmentation analysis – Uncovering blue ocean markets (e.g., Negative Coke in China).
Chapter 5: Application-based segmentation analysis – High-growth downstream opportunities (e.g., Automobile in India).
Chapter 6: Regional sales and revenue breakdown by company, type, application and customer.
Chapter 7: Key manufacturer profiles – Financials, product portfolios, and strategic developments.
Chapter 8: Market dynamics – Drivers, restraints, regulatory impacts, and risk mitigation strategies.
Chapter 9: Actionable conclusions and strategic recommendations.
Why This Report?
Unlike generic global market reports, this study combines macro-level industry trends with hyper-local operational intelligence, empowering data-driven decisions across the Petroleum Needle Coke value chain, addressing:
- Market entry risks/opportunities by region
- Product mix optimization based on local practices
- Competitor tactics in fragmented vs. consolidated markets
Please Note - This is an on demand report and will be delivered in 2 business days (48 hours) post payment.
1 Market Overview
1.1 Petroleum Needle Coke Product Scope
1.2 Petroleum Needle Coke by Type
1.2.1 Global Petroleum Needle Coke Sales by Type (2020 & 2024 & 2031)
1.2.2 Electrode Coke
1.2.3 Negative Coke
1.3 Petroleum Needle Coke by Application
1.3.1 Global Petroleum Needle Coke Sales Comparison by Application (2020 & 2024 & 2031)
1.3.2 Electric Arc Furnace Steelmaking
1.3.3 Automobile
1.3.4 Consumer Electronics
1.3.5 Others
1.4 Global Petroleum Needle Coke Market Estimates and Forecasts (2020-2031)
1.4.1 Global Petroleum Needle Coke Market Size in Value Growth Rate (2020-2031)
1.4.2 Global Petroleum Needle Coke Market Size in Volume Growth Rate (2020-2031)
1.4.3 Global Petroleum Needle Coke Price Trends (2020-2031)
1.5 Assumptions and Limitations
2 Market Size and Prospective by Region
2.1 Global Petroleum Needle Coke Market Size by Region: 2020 VS 2024 VS 2031
2.2 Global Petroleum Needle Coke Retrospective Market Scenario by Region (2020-2025)
2.2.1 Global Petroleum Needle Coke Sales Market Share by Region (2020-2025)
2.2.2 Global Petroleum Needle Coke Revenue Market Share by Region (2020-2025)
2.3 Global Petroleum Needle Coke Market Estimates and Forecasts by Region (2026-2031)
2.3.1 Global Petroleum Needle Coke Sales Estimates and Forecasts by Region (2026-2031)
2.3.2 Global Petroleum Needle Coke Revenue Forecast by Region (2026-2031)
2.4 Major Region and Emerging Market Analysis
2.4.1 North America Petroleum Needle Coke Market Size and Prospective (2020-2031)
2.4.2 Europe Petroleum Needle Coke Market Size and Prospective (2020-2031)
2.4.3 China Petroleum Needle Coke Market Size and Prospective (2020-2031)
2.4.4 Japan Petroleum Needle Coke Market Size and Prospective (2020-2031)
2.4.5 Korea Petroleum Needle Coke Market Size and Prospective (2020-2031)
2.4.6 Taiwan (China) Petroleum Needle Coke Market Size and Prospective (2020-2031)
3 Global Market Size by Type
3.1 Global Petroleum Needle Coke Historic Market Review by Type (2020-2025)
3.1.1 Global Petroleum Needle Coke Sales by Type (2020-2025)
3.1.2 Global Petroleum Needle Coke Revenue by Type (2020-2025)
3.1.3 Global Petroleum Needle Coke Price by Type (2020-2025)
3.2 Global Petroleum Needle Coke Market Estimates and Forecasts by Type (2026-2031)
3.2.1 Global Petroleum Needle Coke Sales Forecast by Type (2026-2031)
3.2.2 Global Petroleum Needle Coke Revenue Forecast by Type (2026-2031)
3.2.3 Global Petroleum Needle Coke Price Forecast by Type (2026-2031)
3.3 Different Types Petroleum Needle Coke Representative Players
4 Global Market Size by Application
4.1 Global Petroleum Needle Coke Historic Market Review by Application (2020-2025)
4.1.1 Global Petroleum Needle Coke Sales by Application (2020-2025)
4.1.2 Global Petroleum Needle Coke Revenue by Application (2020-2025)
4.1.3 Global Petroleum Needle Coke Price by Application (2020-2025)
4.2 Global Petroleum Needle Coke Market Estimates and Forecasts by Application (2026-2031)
4.2.1 Global Petroleum Needle Coke Sales Forecast by Application (2026-2031)
4.2.2 Global Petroleum Needle Coke Revenue Forecast by Application (2026-2031)
4.2.3 Global Petroleum Needle Coke Price Forecast by Application (2026-2031)
4.3 New Sources of Growth in Petroleum Needle Coke Application
5 Competition Landscape by Players
5.1 Global Petroleum Needle Coke Sales by Players (2020-2025)
5.2 Global Top Petroleum Needle Coke Players by Revenue (2020-2025)
5.3 Global Petroleum Needle Coke Market Share by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Petroleum Needle Coke as of 2024)
5.4 Global Petroleum Needle Coke Average Price by Company (2020-2025)
5.5 Global Key Manufacturers of Petroleum Needle Coke, Manufacturing Sites & Headquarters
5.6 Global Key Manufacturers of Petroleum Needle Coke, Product Type & Application
5.7 Global Key Manufacturers of Petroleum Needle Coke, Date of Enter into This Industry
5.8 Manufacturers Mergers & Acquisitions, Expansion Plans
6 Region Analysis
6.1 North America Market: Players, Segments, Downstream and Major Customers
6.1.1 North America Petroleum Needle Coke Sales by Company
6.1.1.1 North America Petroleum Needle Coke Sales by Company (2020-2025)
6.1.1.2 North America Petroleum Needle Coke Revenue by Company (2020-2025)
6.1.2 North America Petroleum Needle Coke Sales Breakdown by Type (2020-2025)
6.1.3 North America Petroleum Needle Coke Sales Breakdown by Application (2020-2025)
6.1.4 North America Petroleum Needle Coke Major Customer
6.1.5 North America Market Trend and Opportunities
6.2 Europe Market: Players, Segments, Downstream and Major Customers
6.2.1 Europe Petroleum Needle Coke Sales by Company
6.2.1.1 Europe Petroleum Needle Coke Sales by Company (2020-2025)
6.2.1.2 Europe Petroleum Needle Coke Revenue by Company (2020-2025)
6.2.2 Europe Petroleum Needle Coke Sales Breakdown by Type (2020-2025)
6.2.3 Europe Petroleum Needle Coke Sales Breakdown by Application (2020-2025)
6.2.4 Europe Petroleum Needle Coke Major Customer
6.2.5 Europe Market Trend and Opportunities
6.3 China Market: Players, Segments, Downstream and Major Customers
6.3.1 China Petroleum Needle Coke Sales by Company
6.3.1.1 China Petroleum Needle Coke Sales by Company (2020-2025)
6.3.1.2 China Petroleum Needle Coke Revenue by Company (2020-2025)
6.3.2 China Petroleum Needle Coke Sales Breakdown by Type (2020-2025)
6.3.3 China Petroleum Needle Coke Sales Breakdown by Application (2020-2025)
6.3.4 China Petroleum Needle Coke Major Customer
6.3.5 China Market Trend and Opportunities
6.4 Japan Market: Players, Segments, Downstream and Major Customers
6.4.1 Japan Petroleum Needle Coke Sales by Company
6.4.1.1 Japan Petroleum Needle Coke Sales by Company (2020-2025)
6.4.1.2 Japan Petroleum Needle Coke Revenue by Company (2020-2025)
6.4.2 Japan Petroleum Needle Coke Sales Breakdown by Type (2020-2025)
6.4.3 Japan Petroleum Needle Coke Sales Breakdown by Application (2020-2025)
6.4.4 Japan Petroleum Needle Coke Major Customer
6.4.5 Japan Market Trend and Opportunities
6.5 Korea Market: Players, Segments, Downstream and Major Customers
6.5.1 Korea Petroleum Needle Coke Sales by Company
6.5.1.1 Korea Petroleum Needle Coke Sales by Company (2020-2025)
6.5.1.2 Korea Petroleum Needle Coke Revenue by Company (2020-2025)
6.5.2 Korea Petroleum Needle Coke Sales Breakdown by Type (2020-2025)
6.5.3 Korea Petroleum Needle Coke Sales Breakdown by Application (2020-2025)
6.5.4 Korea Petroleum Needle Coke Major Customer
6.5.5 Korea Market Trend and Opportunities
6.6 Taiwan (China) Market: Players, Segments, Downstream and Major Customers
6.6.1 Taiwan (China) Petroleum Needle Coke Sales by Company
6.6.1.1 Taiwan (China) Petroleum Needle Coke Sales by Company (2020-2025)
6.6.1.2 Taiwan (China) Petroleum Needle Coke Revenue by Company (2020-2025)
6.6.2 Taiwan (China) Petroleum Needle Coke Sales Breakdown by Type (2020-2025)
6.6.3 Taiwan (China) Petroleum Needle Coke Sales Breakdown by Application (2020-2025)
6.6.4 Taiwan (China) Petroleum Needle Coke Major Customer
6.6.5 Taiwan (China) Market Trend and Opportunities
7 Company Profiles and Key Figures
7.1 Phillips 66
7.1.1 Phillips 66 Company Information
7.1.2 Phillips 66 Business Overview
7.1.3 Phillips 66 Petroleum Needle Coke Sales, Revenue and Gross Margin (2020-2025)
7.1.4 Phillips 66 Petroleum Needle Coke Products Offered
7.1.5 Phillips 66 Recent Development
7.2 GrafTech
7.2.1 GrafTech Company Information
7.2.2 GrafTech Business Overview
7.2.3 GrafTech Petroleum Needle Coke Sales, Revenue and Gross Margin (2020-2025)
7.2.4 GrafTech Petroleum Needle Coke Products Offered
7.2.5 GrafTech Recent Development
7.3 Eneos
7.3.1 Eneos Company Information
7.3.2 Eneos Business Overview
7.3.3 Eneos Petroleum Needle Coke Sales, Revenue and Gross Margin (2020-2025)
7.3.4 Eneos Petroleum Needle Coke Products Offered
7.3.5 Eneos Recent Development
7.4 Sumitomo Corporation
7.4.1 Sumitomo Corporation Company Information
7.4.2 Sumitomo Corporation Business Overview
7.4.3 Sumitomo Corporation Petroleum Needle Coke Sales, Revenue and Gross Margin (2020-2025)
7.4.4 Sumitomo Corporation Petroleum Needle Coke Products Offered
7.4.5 Sumitomo Corporation Recent Development
7.5 CNPC Jinzhou Petrochemical
7.5.1 CNPC Jinzhou Petrochemical Company Information
7.5.2 CNPC Jinzhou Petrochemical Business Overview
7.5.3 CNPC Jinzhou Petrochemical Petroleum Needle Coke Sales, Revenue and Gross Margin (2020-2025)
7.5.4 CNPC Jinzhou Petrochemical Petroleum Needle Coke Products Offered
7.5.5 CNPC Jinzhou Petrochemical Recent Development
7.6 Sinopec
7.6.1 Sinopec Company Information
7.6.2 Sinopec Business Overview
7.6.3 Sinopec Petroleum Needle Coke Sales, Revenue and Gross Margin (2020-2025)
7.6.4 Sinopec Petroleum Needle Coke Products Offered
7.6.5 Sinopec Recent Development
7.7 Shandong Yida New Materials
7.7.1 Shandong Yida New Materials Company Information
7.7.2 Shandong Yida New Materials Business Overview
7.7.3 Shandong Yida New Materials Petroleum Needle Coke Sales, Revenue and Gross Margin (2020-2025)
7.7.4 Shandong Yida New Materials Petroleum Needle Coke Products Offered
7.7.5 Shandong Yida New Materials Recent Development
7.8 Liaoning Baolai
7.8.1 Liaoning Baolai Company Information
7.8.2 Liaoning Baolai Business Overview
7.8.3 Liaoning Baolai Petroleum Needle Coke Sales, Revenue and Gross Margin (2020-2025)
7.8.4 Liaoning Baolai Petroleum Needle Coke Products Offered
7.8.5 Liaoning Baolai Recent Development
7.9 Shandong Jingyang
7.9.1 Shandong Jingyang Company Information
7.9.2 Shandong Jingyang Business Overview
7.9.3 Shandong Jingyang Petroleum Needle Coke Sales, Revenue and Gross Margin (2020-2025)
7.9.4 Shandong Jingyang Petroleum Needle Coke Products Offered
7.9.5 Shandong Jingyang Recent Development
7.10 Weifang Fumei
7.10.1 Weifang Fumei Company Information
7.10.2 Weifang Fumei Business Overview
7.10.3 Weifang Fumei Petroleum Needle Coke Sales, Revenue and Gross Margin (2020-2025)
7.10.4 Weifang Fumei Petroleum Needle Coke Products Offered
7.10.5 Weifang Fumei Recent Development
8 Petroleum Needle Coke Manufacturing Cost Analysis
8.1 Petroleum Needle Coke Key Raw Materials Analysis
8.1.1 Key Raw Materials
8.1.2 Key Suppliers of Raw Materials
8.2 Proportion of Manufacturing Cost Structure
8.3 Manufacturing Process Analysis of Petroleum Needle Coke
8.4 Petroleum Needle Coke Industrial Chain Analysis
9 Marketing Channel, Distributors and Customers
9.1 Marketing Channel
9.2 Petroleum Needle Coke Distributors List
9.3 Petroleum Needle Coke Customers
10 Petroleum Needle Coke Market Dynamics
10.1 Petroleum Needle Coke Industry Trends
10.2 Petroleum Needle Coke Market Drivers
10.3 Petroleum Needle Coke Market Challenges
10.4 Petroleum Needle Coke Market Restraints
11 Research Findings and Conclusion
12 Appendix
12.1 Research Methodology
12.1.1 Methodology/Research Approach
12.1.1.1 Research Programs/Design
12.1.1.2 Market Size Estimation
12.1.1.3 Market Breakdown and Data Triangulation
12.1.2 Data Source
12.1.2.1 Secondary Sources
12.1.2.2 Primary Sources
12.2 Author Details
12.3 Disclaimer
Phillips 66
GrafTech
Eneos
Sumitomo Corporation
CNPC Jinzhou Petrochemical
Sinopec
Shandong Yida New Materials
Liaoning Baolai
Shandong Jingyang
Weifang Fumei
Ìý
Ìý
*If Applicable.
