The Global Needle Coke Market was valued at USD 3,309 Million in 2024 and is projected to reach USD 5,018 Million by 2032, growing at a Compound Annual Growth Rate (CAGR) of 6.3% during the forecast period (2024–2032). This growth is being driven by increasing steel production via electric arc furnaces, rising demand for lithium-ion batteries in electric vehicles, and the accelerating adoption of sustainable carbon materials across steelmaking and energy storage sectors.

As the steel and battery industries transform toward low-emission operations and sustainable growth, the spotlight is on the key producers who are driving innovation, efficiency, and cleaner material pathways. In this blog, we profile the Top 10 Companies in the Needle Coke Industry—a mix of petroleum refiners, coal-based specialists, and sustainable carbon pioneers shaping the future of global steel and battery production.

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🔟 1. Shandong Yida New Material Co., Ltd.

Headquarters: Shandong, China
Key Offering: Petroleum-based needle coke, recycled carbon materials

Shandong Yida is a prominent player in China’s needle coke sector, focusing on innovative production from petrochemical byproducts. The company supplies high-quality needle coke for graphite electrodes and battery anodes, serving major steel mills and EV battery manufacturers in Asia. Its emphasis on recycling technologies helps reduce dependency on traditional feedstocks, supporting the growing need for cost-effective and eco-friendly carbon materials.

Sustainability Initiatives:

• Development of recycled needle coke processes

• Partnerships with battery producers for sustainable supply

• Commitment to reducing emissions in coking operations

Download FREE Sample Report: Needle Coke Market – View in Detailed Research Report

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9️⃣ 2. Sinosteel Corporation

Headquarters: Beijing, China
Key Offering: Coal-based needle coke, graphite products

Sinosteel is a key supplier in the coal-based needle coke segment, providing materials essential for high-performance graphite electrodes used in electric arc furnaces. Operating extensively in China, the company supports the region’s massive steel production while expanding into battery applications, ensuring reliable supply chains for downstream industries amid growing global demand.

Sustainability Initiatives:

• Investments in low-sulfur coal processing

• Collaborations to improve energy efficiency in production

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8️⃣ 3. JXTG Holdings, Inc.

Headquarters: Tokyo, Japan
Key Offering: Petroleum-based needle coke, specialty carbons

JXTG Holdings, now part of ENEOS, excels in producing premium petroleum-based needle coke for advanced applications in steel and batteries. The company’s integrated refining operations enable consistent quality, meeting the stringent requirements of ultra-high-power electrodes and high-capacity anodes, particularly in Japan’s precision manufacturing ecosystem.

Sustainability Initiatives:

• Targets for 20% reduction in production emissions by 2030

• Supply agreements with green steel initiatives

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7️⃣ 4. CNPC Jinzhou Petrochemical

Headquarters: Liaoning, China
Key Offering: Petroleum-based needle coke, industrial carbons

CNPC Jinzhou is a major contributor to China’s needle coke capacity, leveraging its petrochemical expertise to produce materials for EAF steel production and LIB anodes. The company plays a crucial role in meeting domestic demand, with expansions aimed at supporting the EV boom and sustainable steelmaking in the Asia-Pacific region.

Sustainability Initiatives:

• Goal to integrate 15% alternative feedstocks by 2028

• China’s largest coal-to-needle coke innovation program

Download FREE Sample Report: Needle Coke Market – View in Detailed Research Report

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6️⃣ 5. Fangda Carbon New Material Co., Ltd.

Headquarters: Hunan, China
Key Offering: Coal-based needle coke, graphite electrodes

Fangda Carbon specializes in coal-based needle coke, supplying integrated solutions from raw materials to finished electrodes for global steel producers. With a strong foothold in Asia, the company addresses the rising need for high-quality carbons in EAFs, while investing in R&D to enhance performance for battery applications.

Sustainability Initiatives:

• Certified low-emission production facilities

• Aims for net-zero operations in key plants

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5️⃣ 6. Shanxi Jinzhou Group

Headquarters: Shanxi, China
Key Offering: Coal-based needle coke, premium graphite

Shanxi Jinzhou is the leading coal-based needle coke producer globally, accounting for a significant share of market volume. It supplies critical materials for China’s steel industry and emerging battery sector, with advanced calcination processes ensuring high purity and consistency for demanding applications.

Sustainability Initiatives:

• Current output exceeding 200,000 tons/year

• Target: 300,000 tons/year by 2027 with greener tech

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4️⃣ 7. Indian Oil Corporation Ltd.

Headquarters: New Delhi, India
Key Offering: Petroleum-based needle coke, bio-derived carbons

Indian Oil is expanding its needle coke production through strategic joint ventures, focusing on petroleum-based grades for graphite electrodes and anodes. As India’s steel sector grows, the company secures downstream demand, contributing to regional self-sufficiency in critical materials for steel and EVs.

Sustainability Initiatives:

• Planned 100,000-ton capacity addition

• Research into sustainable feedstocks from refinery wastes

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3️⃣ 8. Mitsubishi Chemical Corporation

Headquarters: Tokyo, Japan
Key Offering: Petroleum-based needle coke, advanced carbons

Mitsubishi Chemical leads in high-purity needle coke for specialty applications, including nuclear and aerospace carbons. The company’s technological edge supports premium battery anodes and electrodes, driving innovation in Japan’s high-tech industries while addressing global sustainability goals.

Sustainability Initiatives:

• Indigenous R&D for low-carbon production

• Collaborations for circular carbon economy

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2️⃣ 9. Sumitomo Corporation

Headquarters: Tokyo, Japan
Key Offering: Petroleum-based needle coke, ultra-high purity grades

Sumitomo maintains leadership in ultra-high purity needle coke, commanding premium pricing for nuclear and aerospace uses. Its global supply chain serves steel and battery sectors, with ongoing expansions to meet rising demand from EV manufacturers and sustainable steel projects.

Sustainability Initiatives:

• Investments in 800,000 tons/year renewable carbon capacity

• Major expansions in supply chains for green materials

Download FREE Sample Report: Needle Coke Market – View in Detailed Research Report

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1️⃣ 10. Phillips 66

Headquarters: Houston, Texas, USA
Key Offering: Petroleum-based needle coke, sustainable graphite precursors

Phillips 66 dominates global production with over 40% capacity share alongside partners, utilizing proprietary delayed coking for superior quality. It supplies key markets in North America and Asia, supporting EAF steel and high-end battery anodes through strategic refinery integrations.

Sustainability Initiatives:

• End-to-end solutions for low-carbon steel and batteries

• Strategic alliances with electrode and battery producers

Get Full Report Here: Needle Coke Market – View in Detailed Research Report

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🌍 Outlook: The Future of Needle Coke Is Greener and More Efficient

The needle coke market is undergoing a dynamic shift. While traditional petroleum and coal-based production still dominate, the industry is investing heavily in low-carbon alternatives, advanced refining technologies, and sustainable supply networks for steel and batteries.

📈 Key Trends Shaping the Market:

• Rapid capacity expansion in Asia, North America, and Europe for sustainable grades

• Regulatory push for low-emission materials in steel and EV sectors by 2030

• Digitalization of production chains and quality tracking

• Industry alliances for carbon reduction and circular economy

Get Full Report Here: Needle Coke Market – View in Detailed Research Report

The companies listed above are not only powering global steel and batteries—they’re spearheading the green transition in critical materials.