Currently, the global market for green and calcined petroleum coke prices is estimated to grow to $29.8 billion in the next five years, with demand for metallurgical applications driving the growth. This article provides an overview of the regional and global outlook for the market and offers a discussion of the major drivers and barriers.
Increasing demand from end user industries is driving the value of green petroleum coke. New incremental production is lower in quality, with higher contaminant levels. The oil refining industry is reducing the availability of suitable green petroleum coke.
China is the largest producer of anode-grade coke, producing over 30 million metric tons annually. Most GPC is sold as fuel for power generation and cement production.
Calcined petroleum coke is used for the production of carbon anodes in aluminum smelting. It is low cost and readily available. Various technologies are used to produce calcined petroleum coke.
The rotary kiln calcining process is the most common technology in the Western world. A rotary kiln is a cylindrical vessel that rotates slowly. It has a bottom slide gate that controls the movement of coke. The kiln is designed to heat the coke at temperatures between 1200 degC and 1350 degC. The coke is then cooled with water in a rotary cooler.
In addition to being a source of calcined petroleum coke, green coke can be pulverized into pellets. Pelleted cokes are very dense and have uniform structure. These pellets are mechanically strong, making them ideal for use in aluminum smelting. They can also be used in titanium dioxide production.
Currently, Asia-Pacific leads the global market for green and calcined petroleum coke. This is due to rapid industrialization in the region. It is also expected to witness significant growth over the forecast period. The region has a large population, which is expected to drive increased construction activities.
This segment is expected to grow at a compound annual growth rate of 8.91% over the next six years. The largest application is cement. However, the market for paints & coatings, fertilizers, aluminum, and steel is expected to generate strong opportunities.
The calcined petroleum coke market is also growing, mainly due to the increasing demand for aluminum. China's aluminum smelting sector is expected to increase annualized production by 1.8 million metric tons in the second half of 2020. This is a major opportunity for players to expand their production capacity.
The global calcined petroleum coke market is expected to reach a value of USD 2.9 billion by 2028. The report presents information on the key players in the market. It provides a dashboard overview of the leading companies' past performance, as well as successful marketing strategies. This report also covers the important market drivers, restraints, and key trends.
The calcined petcoke market is expected to grow at a double-digit CAGR over the next five years. The market is primarily driven by the growth of the end use industry and the emergence of new applications. The key players are actively seeking to expand their production capacity to meet the demands of the market.
Increasing demand for heavy oils, rise in the production of steel and infrastructure development in Middle East and Africa are expected to drive the growth of petroleum coke market. But environmental concerns may also restrain the demand for petroleum coke.
The calcined petroleum coke market is expected to see a high rate of expansion over the next six years. Asia Pacific is expected to dominate the market. The construction industry has emerged as a leading sector in the region. This is because of the large population and increasing infrastructure. The market is expected to reach USD million by 2028. The rising demand for aluminum and steel in developing countries will help the market expand further.
The price of petroleum coke in the United States has fallen drastically over the past few months. The price of petroleum coke rose to $200 per metric ton in February 2022. In the second quarter, prices decreased due to buyer resistance and speculations that there could be a recession. In addition, an Indonesian coal export ban caused the price of coal to increase.
Globally, the petroleum coke market is forecast to expand at a strong pace. In the USA, the market is expected to remain dominant owing to the significant growth of the economy. In Europe, the market is expected to expand at a moderate pace. The global market is projected to expand at a CAGR of 6.9% from 2021 to 2030.
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