Major industry participants are developing novel manufacturing procedures for intermediate quality needle coke to make it appropriate for various applications. Technological advances are aimed at refining techniques and expanding application areas of calcined petroleum coke.
Increasing steel sector, development in the cement and power generation industries, growth in supply of heavy oils, and supportive government initiatives regarding green environment are propelling demand for calcined coke worldwide.
A number of factors are driving the growth of the global calcined coke market. These include aluminum consumption growth in various industries, expansion of infrastructural operations, and the development of the construction sector in nations such as India.
Additionally, steel demand is also on the rise. This is likely due to the growth of the infrastructure sector and a focus on sustainable building materials. This is expected to drive the market through the forecast period.
The global calcined coke market is segmented by type, with fuel grade coke accounting for the largest share. This type of coke is used as a fuel for power generation and industrial applications, as it has a high calorific value. It is also used to manufacture anodes for the aluminum and titanium smelting industry. However, strict environmental regulations on this type of coke are anticipated to restrict its growth in the coming years. Needle calcined coke, on the other hand, is growing rapidly and will continue to do so in the future.
The global calcined coke market is thoroughly and accurately assessed in this report with a large focus on the industry dynamics, competition, regional growth, segmental analysis, key growth strategies, and much more. It provides reliable estimations and calculations for global market revenue and volume by Type segment, as well as for the forecast period 2016-2027.
Increased construction spending along with a rise in demand for pre-engineered buildings (PEB), especially in emerging Asia Pacific countries such as China, India, and Singapore, is expected to boost the worldwide market development for calcined coke over the projected period. Moreover, growing metal industry is also likely to have a positive impact on the market.
Rising steel production, expansion in the cement and power generation industries, a surge in the supply of heavy oils globally, and supportive government initiatives regarding a green environment are some of the major factors fueling the growth of the global calcined petroleum coke market. Moreover, companies are adopting various growth strategies such as product launches, innovations, collaborations and partnerships, mergers and acquisitions, and intensive R&D to survive in the competitive market.
The global calcined petroleum coke market comprises sales of needle, honeycomb, sponge, and shot coke from major manufacturers to end users. Values in the report are 'factory gate' values, which reflect the amounts paid by enterprises to producers, including shipping and handling fees.
The demand for fuel-grade coke is driven by its low production costs and high calorific value. It is mainly used in power plants to fire cement kilns and generate electricity.
In Asia Pacific, growing infrastructure development and rapid industrialization drive the demand for calcined coke. The country's growing aluminium consumption is also a key driver for the market, as it offers advantages such as corrosion resistance, formability, light weight and dampness. Further, India's robust construction activities and increased population growth will further contribute to the market. In addition, the country's focus on green energy projects will also boost the demand for the product. This will lead to a substantial increase in the utilization of needle calcined coke in battery electrodes, thereby driving the market.
The global calcined coke market is segmented by type, application and region. The aluminium industry is a major purchaser of this product as it is used to manufacture carbon anodes, which are required in the electrolytic reduction process to convert aluminium oxide into aluminium metal. Other end-use industries include steel, paper, paints & coatings and fertiliser.
The growing steel industry, advancements in the cement and power generation industries, expansion of heavy oil supply globally and supportive government activities pertaining to a green environment are the factors fuelling the growth of this market. Additionally, the rising manufacturing & construction activities in countries such as India and China are also driving the demand for this product.
The major players in this market include Indian Oil Corporation Limited, Essar Oil Ltd and HPCL - Mittal Energy Limited among others. These companies focus on increasing their production capacities to meet the demand for this product. This strategy helps them expand their market share and garner higher profits.
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