Needle Coke Market on the Rise – Powering the Future of Steel & Batteries
The global needle coke market size is expected to reach USD 9.00 billion in 2030 and is projected to grow at a CAGR of 10.9% from 2025 to 2030. Surging demand for needle coke in the manufacturing of lithium-ion battery is a key factor driving the industry growth. Needle coke is a primary element used in the manufacturing of graphite electrodes. The utilization of graphite in batteries has expanded at a robust pace over the past few years. It is the second heaviest component in lithium-ion batteries. These batteries require up to 10 to 20 times more graphite than lithium. Growth of steel industry along with increasing demand from lithium-ion batteries in electric vehicles is likely to remain a key driving factor for market growth in this region. Rapid increase in demand for lithium-ion batteries from the automotive industry is expected to fuel the growth of needle coke industry. In addition, rising focus on the reduction of automobile weight to improve fuel...