This raw material is sold by leading calcined coal producers. It's used as a carbon anode in aluminum smelting. Coker units in oil refineries process heavy crudes to produce this coal byproduct. It is also referred to as fuel-grade petcoke or green petroleum coke (GPC). GPC can be of either fuel or anode grade. Due to lower impurity and cost, anode-grade coal is preferred for smelting.
China is one of the major global manufacturers of calcined petroleum coke. China is one of the largest markets for this product. Its consumption has been steadily increasing over the past decade. Recently, aluminum production is on the rise and GPC's demand will increase.
Other major players on the market are BP Plc Phillips 66 Company and Valero Energy Corporation. These companies are involved in a broad range of industries, from gas to petroleum. GPC is a highly competitive industry, with new players entering at an accelerated pace. The competition in the GPC industry is likely to increase over the coming years.
Aluminum industry growth and construction expenditures are driving the global market for calcined petrol coke. China, India, Indonesia, and other countries with higher aluminum consumption are responsible for driving the global growth of aluminum. The aluminum industry is a key contributor to the overall steel consumption, which in turn drives calcined petcoke demand.
A rise in construction of infrastructures in Asia Pacific also drives the calcined coke market. Roads, bridges, dams, residential construction, etc., are all included. In India, initiatives like 'Housing for All 2022' and 100 smart cities will likely drive housing construction over the period of forecast. The market for petcoke will likely expand as a result.
Calcined Petcoke is used widely in the metallurgical sector to produce alumina, and aluminum-related products. Also, petcoke can be used to make cement as an alternative fuel for fossil and natural gases. It is used in power plants as well.
North American markets are leading the growth in the calcined PETCOKE market. In part, this is because of the strong infrastructure in place, along with advanced technologies and favorable environmental regulation. Additionally, there is an abundance of natural gas in the area, which helps to boost economic growth. In addition, there are many refineries in the region that use calcined petrol coke as raw materials for their processes. The calcined petcoke market is also encouraged by this. The price fluctuations of natural gas and petroleum are hampering the market for calcined PETCOKE in this region.
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