The growth of paints & coatings, steel and fertiliser industries are expected to open up a significant market potential for the calcined petroleum coke. Country-wise installed capacity, production, demand and import export analysis are captured in the report.
The market sizing and forecast is done based on the following segments: By type: Needle, Shot, Sponge & Honeycomb Coke; and By application: Aluminum, Graphite, Steel and Fertilizer.
The global calcined petroleum coke market report provides PESTEL analysis, Porter’s five forces, PORTER score and 2023-2029 forecast for the region. The report also helps in understanding the growth opportunities and pitfalls of the market. It includes the industry trends, latest technological developments, new product releases and other strategic activities undertaken by the market participants.
The rise in manufacturing and construction activities due to various government initiatives such as 100 smart cities and housing for all by 2022 is boosting the demand for calcined petroleum coke. It is used for making titanium dioxide pigments, bricks, glass, paints and fertilisers and it has anti-corrosion property. It also has good thermal constancy and electrical conductivity which makes it an ideal electrode material for batteries.
Fuel grade coke finds its major application in power and cement kiln industries as it can be substituted for steam coal in boilers. This results in a significant reduction in emissions of sulfur dioxide, nitrogen oxide and particulate matter.
The market for calcined petroleum coke has been expanding due to the increasing metal industry demand. Besides, increased construction expenditure and rapid urbanization in Asia Pacific countries is another factor driving the global calcined petcoke market growth.
Based on product type, the calcined petcoke market is segmented into Needle coke and Shot coke. The fuel grade segment dominated the calcined petroleum coke market in 2020 and is expected to continue its dominance throughout the forecast period. The fuel grade coke is used in cement and power industries.
Moreover, carbonized pet coke is an important ingredient in the production of aluminum anodes. 0.4 tonnes of calcined petcoke is required to produce one tonne of aluminum anode. Therefore, the aluminum & steel sector is expected to drive the calcined petroleum coke market growth in the near future. Moreover, the power plants industry is also expected to drive the market growth in the next few years. The growing power generation industry is requiring large amounts of fuel, which is being supplied by the petroleum coke market.
The global calcined petroleum coke market is expanding due to the increased demand for steel in construction industry. This has been complemented by infrastructure development facilitated by continuous infrastructural growth in emerging economies. The market is also gaining traction due to the growing use of petroleum coke as a fuel for power generation.
The market is segmented on the basis of type, application and region. Based on the type, the market is bifurcated into needle grade, fuel grade and calcined petcoke. The fuel grade calcined petroleum coke is used in coal-fired boilers and cement kilns. The aluminum & steel, titanium dioxide, paints & coatings and fertilizers industries are major consumers of the fuel grade calcined petroleum coke.
The report provides a comprehensive analysis of the global calcined petroleum coke market and forecasts the market size for the period from 2021 to 2028. It evaluates the market drivers and restraints influencing the expansion of the market.
The global calcined petroleum coke market is expected to grow at a rapid pace during the forecast period due to increase in industrialization across the world. This is mainly due to development in power generation and cement industry. In addition, growth in aluminium consumption owing to the increasing demand for automobiles and railways is driving the market. To cater to this demand, several companies have established delayed coking units to refine crude oil and create petroleum coke.
In 2021, Asia Pacific accounted for 40% of the global calcined petroleum coke market due to growing infrastructural operations such as construction, roads, bridges and dams in countries such as India and Singapore. Also, population growth is resulting in the need for residential constructions. As a result, the Indian government has launched initiatives such as “100 smart cities” and “Housing for All by 2022.” These factors are likely to boost green and calcined petroleum coke market demand in Asia Pacific.
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