Petrol coke is an oil-refining byproduct that contains a large amount of solid carbon. This is used for alternative power generation. This fuel is less carbon-intensive than fossil fuels. In the future, however, it is expected that increased environmental regulations as well as concerns over greenhouse gas emissions will slow down the growth of global calcined oil coke.
The market for calcined petcoke is segmented according to type, application, and geography. The market for fuel grade petcoke is expected to capture the largest share of the overall market through the forecast period. Due to increased infrastructure and industrialization of developing countries, steel and aluminum are needed. These metals are essential in railway, highway and auto manufacturing. These metals are in high demand in developing nations and will continue to do so in the future.
The growing demand for calcined coke is also driven by the increasing steel consumption of developing countries. Calcined petroleum coke can be used in metallurgical industries to replace coal. This coke can also be used for the production of graphite electrodes. EAF Steel production is rapidly increasing in Asia Pacific. Especially in India and China. It is due mainly to the economic reforms of Asia Pacific, infrastructure development and increasing per capita income.
The manufacture of fertilizers as well as the incineration of petroleum coke for electricity generation are other applications. Because it's less expensive than natural gases for electricity generation, this fuel plays a major role in the energy industry. Furthermore, it is useful in the production of liquefied petroleum gas and ammonium nitrate. Low ash makes it easy to use, store and handle.
The calcined coke is also used in the cement industry as an economical fuel. In emerging markets, this is mostly due to construction activities. Growing construction activity also drives the clinker and will have a positive impact on the green and calcined coke markets.
Additionally, the increased demand for aluminium as well as steel acts like a catalyst on the calcined Petroleum Coke Market. This is primarily because of the growing infrastructure and automotive sectors in developing countries. Alumina and the primary aluminium industry require calcined petrol coke to add carbon. Graphite electrodes are made from it for EAF production steel, as well as other carbon products and graphite. Calcined petroleum coke can also be used in electrical transformers. Due to its low ash content, it is preferred by brick and glass manufacturers for making these products. It can also be used to fuel thermal power plants.
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