The calcined petroleum coke industry outlook is favorable owing to rising demand from various industries. The growth of the paper, paint, cement and steel industries will aid in the market's growth. Increasing construction spending, coupled with increased demands for pre-engineered buildings (PEB), is expected to drive the global market in the coming years. The market will also be supported by the economic progress and population growth in developing nations.
Calcined petroleum coke is produced by the thermal decomposition of crude oil in a coal-fired boiler. This results into the formation of dark colored solids which contain metals, sulphur as well as carbon. It is used as a fuel for power plants and has a higher calorific value than coal. It is therefore a preferred alternative to conventional fossil fuels. Its low sulfur and emission content makes it an ideal fuel for electricity and heat generation.
Aluminum is the current largest consumer of calcined coke. The aluminum industry uses the calcined petroleum as a source for carbon to produce anodes that are used in aluminum smelting. Aluminum accounts for between 75% and 80% of calcined petrol coke's overall demand. Steel industry is also one of the largest consumers of calcined oil coke. It's used as a carbon additon in production. The steel industry also uses calcined petrol coke to reduce its energy consumption and improve the strength of steel.
Cement and power plants are also major consumers of calcined petrol coke. Cement factories use calcined oil coke in the production process of Portland cement. Portland cement requires a lot heat. Power plants also use calcined coke in order to produce electricity. The increasing number of new and existing power plants is expected to boost the demand for calcined petroleum coke in the near future.
While the calcined petroleum coke market has several drivers, there are some challenges as well. The emergence alternative technologies and substitutes materials may dampen this product's demand. For example, advances in electric vehicles and energy storage are likely reduce dependence on traditional sources of fuel.
Despite these obstacles, the calcined coke market is expected to grow rapidly in the future. Key manufacturers are expanding their capacity in order to meet the increasing demand for this product. The companies are investing in research and development to improve the manufacturing process and develop new applications for this product. They are also trying to increase the presence of their products on international markets by signing long-term contracts. This will likely give them an edge over their rivals. Moreover, the rising infrastructure construction in the Middle East and Africa is expected to provide significant opportunities for the industry. In the recent past, the production and distribution of calcined oil coke were hampered because of the lockdown procedures implemented by governments following the COVID-19 pandemic. This is expected to change over the next few decades.
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