The global market for calcined Petroleum Coke is expected reach US$ 9.5 Billion by 2022. This market will grow at a rate of 8.8% between 2017 and 2020. The increasing construction expenditure along with increasing demands for well before buildings (PEB) will support the market growth during the projection period. The demand for steel and other metals is also being boosted by the rising industrialization in emerging nations. This is driving the calcined petroleum coke market globally.
The metallurgy is the most common application of calcined PETCOKE. It is used as a smelting material to produce aluminum or steel. Cement kilns represent the second-largest end use of calcined Petroleum Coke. It can be used to heat cement kilns, and also as fuel for power stations. This will continue to drive the calcined petroleum coke market for the forecast period.
Petcoke can be stored at bulk material storage stations in large quantities. These facilities tend to be located in industrial regions near major roads, railroads, or waterways. Health risks for communities that are located near these facilities is of great concern. The Government of Canada performed a scientific screening assessment to determine the potential impact of these substances.
In general, calcined Petroleum Coke is delivered via rail, truck, or barge to the end-users. Often, it is held temporarily at bulk material transfer stations with multimodal transport capability, which may be located in industrial areas adjacent to waterways, railways, and major roadways. These transfer facilities can pose environmental and human health risks to people and animals that live or work near them. The screening evaluation considers the potential risks to human and ecological health from a particular substance, including its properties chemical, the likelihood that a person will be exposed, and what level of harm might occur.
In terms of geography, Asia Pacific is anticipated to lead the calcined petroleum coke market in 2019. This is due in part to the growing steel demand in nations such India and China. The expansion of infrastructural operations such as building and roads is driving the regional calcined petroleum coke market.
Manufacturers in the calcined oil coke market utilize several strategic activities in order to expand their presence. These include new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. The market for calcined coke is also being pushed by technological innovations. Industry participants are also focusing locally on manufacturing to reduce operating costs. Customers will benefit from this and the market sector will expand. A competitive pricing strategy is also helping manufacturers gain a firm foothold in the booming market. The industry players are also implementing R&D, to innovate and create a variety of products for different applications. This will strengthen the competitive advantage of their brand name and thereby enhance their market share. Oxbow Corporation and Atha Group are among the major players in this market. Ltd, and Bharat Petroleum Corporation Limited.
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