The global calcined petroleum coke market is expected to grow at a CAGR of nearly XX% during the forecast period 2022 - 2028. This can be attributed to increased construction spending in emerging countries of Asia Pacific, increasing demand for well before buildings (PEB) in these regions, and rapid development of the metal industry.
Calcined PETCOKE is a petroleum refinery by-product that contains almost 90% of carbon. It also has a greater calorific value compared to coal. It's this that makes it so attractive to end users. The low price of steel is another factor that drives demand. This is especially true in developing areas where steel production booms rapidly.
A robust economic rebound is also boosting energy demand in these regions. This increases the demand for calcined petroleum coke, which is used to produce aluminum and graphite electrodes. The demand for calcined PETCOKE is also driven by the increased iron and steel production in these regions.
Moreover, with the increasing demand for calcined oil coke, major producers have been working to improve their capacity in order meet this demand. In addition, they try to form long-term partnerships to increase sales and market share.
These factors are accelerating the growth of this market. However, it is not without its challenges. These include a lack in infrastructure and a shortage of suppliers. Moreover, the impact of the Russian-Ukraine conflict is creating some uncertainty in terms of trade and supply chain operations.
To address these challenges, some companies are working to integrate digital technology into their business processes. It can help them manage their supply-chains better and reduce costs. Besides this, they are also using advanced analytics for production optimization and improving their operational efficiency. They can also gain a competitive advantage over their competitors.
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