Recent housing crisis in the US had set construction industry back by several years. As the bubble burst, the housing prices came crashing down, and resulted in misfortune for millions who had invested in the real estate. Now, the story is set to overturn as US markets rebounds, and new initiatives in Asia Pacific reverse growth for the construction sector. Indian Finance Minister has announced that the country will invest over $5 trillion in the infrastructural development over the course of 2019-2024. This announcement promises major opportunities for players in the needle coke market. Needle coke is widely used in steel manufacturing or more specifically, arc furnaces used in steel manufacturing. Moreover, the steel supplies infrastructural constructions of bridges, ports, and highways plays an important role in the construction industry. Moreover, China has also announced trillion dollar investments in its signature Belt and Road initiative which will spur major growth for the steel industry, driven by construction industry. The rising demand for steel will drive tremendous growth for the needle coke market in the near future.
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Electric Vehicle Promise a New Era of Growth for Needle Coke Market
All major global vehicle manufacturers have announced an electric vehicle of their own. Many of these are already in the process of launching their vehicle as emission standards rise, and make way for significant opportunities for players in the needle coke market. needle coke are used in manufacturing steel for electric vehicles as well as anodes used in lithium batteries. It is estimated that electric vehicles will make up nearly 40% of all vehicles by 2040. Their growing adoption with brands like Tesla, and growing push for sustainable energy by government entities around the world will drive tremendous opportunities for growth for players in the needle coke market.
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