The global market of calcined petroleum coke is gaining momentum. Increasing opportunities in the steel, paints & coatings and fertilizer sectors are expected to drive the market.
Rising demand for pure carbon in the steel industry as an additive in electrodes and as a carburizer, development in the cement and power generation industries and economic expansion of the supply of heavy oils globally are the major factors driving the market growth.
The global market for calcined petroleum coke has been boosted by the expansion of the aluminum and steel industries. In addition, demand for fuel-grade petcoke is growing due to its low production costs and high calorific value. The need for needle calcined coke for battery electrodes is also driving the market.
The market is forecast to grow rapidly over the next decade, especially in North America, Europe, Asia Pacific, and Latin America. Emerging economies such as India and China are increasing their power generation capacity, resulting in increased demand for coke.
In addition, the market is expected to be bolstered by the use of petroleum coke as an alternative to coal for electricity generation. However, a number of other technologies and substitutes are emerging that may reduce the demand for petroleum coke. In addition, environmental concerns may hamper the growth of the market in some regions. Major players are focusing on research and development to expand their product lines. They are also implementing various strategic initiatives to grow their global presence, including new product releases, contractual agreements, mergers and acquisitions, and increased investments.
Market Research Future (MRFR) has published a comprehensive report titled “Calcined Petroleum Coke Market Information by Grade, Application and Region – Forecast till 2028”. The report is based on an in-depth research which covers the global market.
The aluminum industry accounts for about 80% of the demand for calcined petroleum coke, with the rest coming from the steel and chemical industries as a recarburizer or to make titanium dioxide pigments. Oil refineries that process heavy crude oils generate more resid and as a result produce more delayed cokers. The cokes from these delayed cokers have higher sulfur levels and lower bulk density compared to those produced by conventional rotary kilns.
The global demand for energy is driving growth in the market, with increasing manufacturing & construction activities across countries and regions. This will drive the need for electricity which can be generated by utilizing calcined petroleum coke as fuel. The low price of this product is also a major draw, especially as an alternative to coal.
The global calcined petroleum coke market has been negatively affected by the ongoing COVID-19 pandemic, which has forced many businesses to shut down and slow down their physical operations. This has impacted the production of crude oil, from which calcined petcoke is extracted.
In the coming years, the market is expected to be led by Asia-Pacific, owing to rising infrastructural activities in countries such as India and China. Government projects such as ‘100 smart cities’ and ‘Housing for all by 2022’ are expected to drive construction activities in the region, leading to increased demand for calcined petcoke.
North America is the largest exporter of calcined petroleum coke. Low petcoke production cost is a major reason for its popularity in the country, as it allows generating a significant amount of power at a very economical rate. Other factors that are expected to boost the market include increased manufacturing activity, rising automobile sector and growing demand for paints & coatings.
In this report, the market is analyzed by key companies operating in the global calcined petroleum coke industry. The study includes a detailed profile of the major players and their competitive strategies, as well as business overview and product portfolios. The report also focuses on the key growth drivers and challenges for the calcined petroleum coke market.
The Aluminum sector is researched to be a large consumer of calcined pet coke on the global platform with an expected demand for calcined petroleum coke in the near future. The market is also estimated to be driven by the power generation and cement industries in countries like China and India.
The calcined petroleum coke market is characterized by the presence of numerous global and regional players who operate at various stages of the value chain. These include oil and gas manufacturers such as BP, Chevron Corporation, Henze International, Rain Industries Limited, and Essar Oil Ltd. Other prominent market players include Oxbow Corporation, Metso Corporation, Atha Group, Garcia Munte Energia SL, and Amritesh Industries Pvt. Ltd among others.
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