Despite the fact that it is widely used in the fertiliser, glass, brick, and colourings industries, the market price of calcined petroleum coke remains somewhat undefined. With several countries in the Middle East and India accumulating calcining capacity, the market price is expected to remain steady in the coming years.
Various industries utilize petroleum coke as a cost-effective fuel. This fuel is produced as a byproduct of the refining process of crude oil. It is used in power plants and cement kilns. This fuel has a high calorific value and low ash content. It also serves as a good alternative to coal. Its use in the power industry is expected to increase in the coming years.
Besides power plants, cement kilns are a major segment of the petroleum coke market. The increasing demand for cement kilns is expected to propel the market growth in the coming years.
The global petroleum coke market is segmented into North America, Europe, Asia Pacific, and Rest of the World. The Americas is expected to witness a CAGR of over 8% during the forecast period.
The market is also expected to grow due to the rapid advancement of technologies in the field of energy. For instance, gasification of petroleum coke is expected to provide an environment-friendly and clean power source, thereby increasing profit margins.
Despite the fact that it has been around for over a century, the glass block may be the last of the old fashioned construction materials, but it isn't quite the dinosaur it once was. A new breed of glass block is on the verge of a makeover in the name of efficiency.
The old fashioned glass bricks and mortar have been largely replaced by the much more efficient and less expensive concrete or cement based construction methods. Nevertheless, glass blocks are still used for decorative and functional applications in the home and garden. A modern day equivalent of a glass brick is a porcelain based sanitary ware, aptly named porcelain. Glass blocks have been around since the days of the Roman Empire and are still used in some parts of the world.
The most important benefit of glass blocks is that they are durable, albeit somewhat expensive, and require little maintenance. The fact that they are fire resistant makes them a good long term investment in both commercial and domestic use. A well crafted glass block can last well into the twentieth century and may well continue to do so in the near future.
Among the major regions, Asia Pacific dominated the global green petroleum coke and calcined petroleum coke market in terms of volume and revenue. The market is expected to expand at a high CAGR during the forecast period.
Asia-Pacific region has witnessed rapid industrialization and construction activities. As a result, demand for green petroleum coke has increased. It is used as a raw material for steel making. The market is expected to expand at 6% CAGR over the forecast period. The market has been projected to expand at a higher rate in the Asia Pacific region, owing to its favorable growth prospects.
In the global market, the calcined petroleum coke and green petroleum coke markets are highly fragmented. However, the market has a few players that account for a substantial share of the overall market. The major players in the market include Aluminium Bahrain B.S.C. (Alba), Atha Group, Oxbow Corporation, Rain Carbon Inc., and Maniyar Group of Industries.
Besides the growth in demand for aluminum, the demand for calcined petroleum coke is also expected to increase, driven by the increasing industrialisation and urbanization of the world. This demand is expected to increase from 2023 to 2028, with a 3.2% CAGR.
The demand for aluminium is expected to increase because of the proposed reforms by the Government of India. This is driven by the increase in urbanization, which is also expected to lead to an increase in the construction industry. In addition, the government's National Electricity Policy has increased the use of aluminium and renewable energy projects, which is expected to boost the demand for calcined petroleum coke.
The demand for calcined petroleum coke will be primarily driven by the increasing demand for aluminium, as well as the use of titanium dioxide in paint and pigment production. Several key players are expected to be active in the market. Some of them include Rain Carbon Inc., Atha Group, and Rain Industries Limited.
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