The growth of the metal industry is driving the use calcined petroleum in vehicle manufacturing. The material is used to produce cast iron and aluminum products, such as wheels, axles, pistons and cylinder heads. In addition, calcined petrol coke is used as an essential raw materials in the manufacture of carbon brushes and electrodes made from metallurgical-graphite. This material is also used in the manufacture of automobile brake pads to improve their friction coefficient.
The global calcined coke market has been largely driven by increased investments in infrastructure, especially in countries like China. India and Singapore. Government initiatives and economic changes are encouraging construction in these regions. Additionally, population growth is resulting in the need for residential and commercial infrastructure. Indian government projects like "100 smart Cities" and Housing for All by 2022 are expected to drive the housing construction in India over the forecast period. Singapore's government spends about S$2 billion per month on public infrastructure.
The high demand for aluminum is also increasing the consumption of calcined petrol coke. Aluminum is an eco-friendly material that has a low energy requirement and can be recycled multiple times. The material has also good electrical conductivity and is resistant to rust. Aluminum is expected to grow in demand over the next several years due to its many benefits.
Calcined oil coke is produced by oil refining. This product has a higher energy value than coal. End users prefer it over coal to replace it in kilns. It is also used to replace natural gas in petrochemical manufacturing. This has led a global surge in demand for calcined oil coke.
The ongoing COVID-19 virus epidemic has adversely affected the overall performance in the oil and natural gas industries. As a result, many oil and gas companies have been forced to suspend their major operations. This has affected the supply of calcined petrol coke on the global market.
In order to stay ahead of the competition, key players in the global market for calcined petrol coke are adopting a variety of strategies. Product launches, collaborations, acquisitions, and intensive R&D are all part of the strategy.
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