The global calcined petroleum coke market is expected to grow at a significant rate during the forecast period. The rising demand for energy across the globe is bolstering the growth of the market.
The report offers a detailed analysis of the calcined petroleum coke market by product type, application and major geographical regions.
The global calcined petroleum coke market is growing at a rapid pace due to several factors. The increasing need for energy to perform various tasks, and the demand for urea as an essential nitrogen fertilizer are driving the growth of the market. In addition, the market is also bolstered by the rising number of residential and commercial construction activities.
The calcined petroleum coke market is segmented on the basis of type, application, and region. The type segment includes fuel grade coke and calcined petroleum coke. Fuel grade coke is primarily used as a fuel for power generation. However, calcined petroleum coke is also used in various applications such as paints and coloring, aluminum, steel, and fertiler for titanium dioxide production. The report provides an in-depth analysis of the global calcined petroleum coke market with current and future estimations to identify the imminent investment pockets. The report analyzes the major drivers, restraints, opportunities, and challenges in the market to help investors plan better business strategies.
The North America region of the global calcined petroleum coke market is anticipated to observe significant growth during the forecast period. This is primarily due to the increasing construction spending and rise in demand for pre-engineered buildings. Moreover, the demand for anode grade petcoke or needle calcinated coke for steel and graphite electrode industries is also expected to propel the growth of the regional market.
Green petcoke is a byproduct of oil refining process and has a high sulfur content and carbon content. It is used as a raw material for various industries, including power generation and aluminum production. Calcined petcoke is a higher-purity carbon material, and is used for various applications, including fuel, bricks & glass, aluminum, paints & coatings, titanium dioxide, and fertilizers.
The major players in the global calcined petroleum coke markets are adopting various strategies to expand their market presence. These include product launches, partnerships & collaborations, mergers & acquisitions, and intensive R&D.
Vantage Market Research (VMR) expects that the Europe region of the calcined petroleum coke market will continue to grow during the forecast period. This is primarily due to growing investments in construction projects by government across the continent.
Moreover, rising iron & steel production in the region and the use of petroleum coke as an electrode in the aluminum industry will propel market growth. Additionally, the demand for fuel-grade petroleum coke as a substitute for coal in power plants will increase.
To meet global demand, major players in the calcined petroleum coke market are preparing to expand their production capacities. Furthermore, they are interested in forming long-term collaboration with direct end consumers to enhance their market reach. Efficient supply of the product in sectors such as paints & coatings, steel, fertilizer, etc. is considered to play a vital role in determining sales for the product in the near future. Therefore, strategic tie-ups between producers and distributors will result in steady market sales.
The global calcined petroleum coke market is divided into fuel grade coke and calcined petcoke. Fuel grade coke is a byproduct of oil refining and is used as an energy source. Increasing demand for fuel grade coke in cement and power industries is expected to drive the market in the future.
Calcined petcoke is used in aluminum smelting, paper, paint, and steel industries. It is also used as a raw material for producing titanium dioxide. Increasing industrialization and construction activities in the Middle East & Africa region will increase the demand for calcined petcoke in the future.
Leading players in the global calcined petroleum coke market include Oxbow Corporation, Atha Group, Rain Industries Limited, HPCL-Mittal Energy Limited (HMEL), Essar Oil Ltd., Henze International LLC, and BP pLC. These companies are focusing on enhancing their production capacity to meet the growing demand for calcined petcoke. They are also partnering with end-use industries to ensure efficient supply and distribution.
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