Construction will increase the rate of consumption of calcined petroleum coal in the future. This will drive demand for the cement and power industries, both of which use fuel grade PETCOKE. Moreover, global economic growth will drive market growth. The use of anode-grade petcoke or needle coal in the production steel and graphite electrodes will also drive the market growth.
In 2021 aluminium accounted for 75-80% of the total petcoke demand. Other buyers included the paint, paper, and chemicals industry. Demand for calcined Petroleum Coke will be boosted by the increasing need for developing infrastructure in developing country.
A recent dockworkers' strike at Germany's Hamburg harbor halted the exports, which contributed to a decline in the price of calcined Petcoke. The suspension of manufacturing by a number of companies due to higher interest rates also slowed down new orders and construction. In Germany, the PMI dropped to 49.4, indicating a contraction in new orders and business activity.
The global market for calcined petroleum is segmented according to type, end user, and region. Based on type, the market is categorized as anode grade, needle, shot, and sponge. The anode type calcined oil coke can be used as a carbon-raising agent in the melting process of aluminum. Needle calcined Petroleum Coke is used to produce high-carbon products and graphite, such as electrodes and carburizers. Similarly, sponge calcined petroleum coke is used for the production of various carbon and graphite products.
Globally, the production of calcined petrol coke is expected to increase at a rate of 7.8% CAGR over the forecasted period. This is primarily due to the rise in construction activities in emerging economies. The aluminium sector is expected to increase its consumption. The increasing demand for calcined petrol coke will also increase the consumption of alumina which is used to manufacture aluminium products. The steel industry will also see an increase in demand for calcined coke due to the increasing construction of residential and commercial buildings. This will increase the demand for petcoke of high quality with low sulfur. This will increase the efficiency and lower the production cost of steel. This will then drive the calcined Petroleum Coke consumption rate.
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