In the coming years, the Calcined Petroleum Coke market is expected to grow significantly. This growth is mainly due to the increase in the consumption of calcined petcoke in various end-use industries. The market is segmented by type, application, technology, sub-segments and region. Each of these segments is thoroughly examined to analyze the market potential.
The global Calcined Petroleum Coke market is estimated for the period from 2017 to 2028. The market size and forecast are based on several key factors, such as market demand, supply and production. These factors are analyzed to provide readers with the necessary information to make business decisions.
The petroleum coke market in the US is expected to witness significant growth over the next few years. As a result of this, the market is set to expand to nearly $4 billion in 2021. Moreover, the increase in the construction industry is expected to fuel the market's development in the near future. However, fluctuations in the prices of fuels may affect the growth of the market in the coming years.
The price of calcined petroleum coke varies from country to country. It depends on the amount and distance from the import point. Some countries are able to provide a higher supply than others. Therefore, a decrease in the supply can impact the price of the product.
The European Petroleum Coke market is expected to see a rise in the prices of the product in the coming year. A surge in the demand for the product from the steel and aluminum industry is expected to boost the market. The emergence of technological advancements is also expected to contribute to the overall growth of the industry. Similarly, rising urbanization trends are likely to be beneficial for the overall development of the industry.
In South America, the price of the calcined petroleum coke soared in the first half of the year. This was caused by a tight supply of the product. During the same period, the demand for the product from the cement production sector increased. Also, the crisis in the Suez Canal contributed to an increase in the freight costs.
The calcined petroleum coke market in the United States is expected to expand in the coming years. Several key manufacturers are keen to work with direct end users to secure stable sales. Additionally, technological innovations are expected to help expand the application area of the product. For instance, the production of intermediate grade needle coke is now possible thanks to new manufacturing processes.
India is the second largest market in Asia Pacific and is expected to witness an increasing demand for the product. Furthermore, the cement production sector is expected to increase its demand for calcined petroleum coke. Hence, the annual consumption of the product is expected to reach 10 million tons by the year 2028. Thus, the demand for the product is expected to expand at a double-digit CAGR over the next few years.
Although, the price of the product is projected to remain unchanged in the first quarter of 2021, the demand for the product is expected to grow in the coming years. Moreover, the increasing number of paints and coatings applications is also predicted to create strong opportunities for the industry in the near future.
English
Write a Message