Petroleum coke is an extremely versatile carbon material. It has low ash, and a high content of carbon. This makes it an ideal fuel. It can also replace coal in power generation. However, there are concerns about the environmental impact of petroleum coke, which is a major contributor to greenhouse gases.
The global market for calcined Petroleum Coke is growing quickly. The steel industry is the main driver, as it needs large quantities of petcoke for blast furnace slag production and steel production. In addition, the aluminum industry is a significant consumer of calcined petroleum coke. As the world economy continues to develop, there is a rise in infrastructure development and urbanization, which requires more steel. This is driving the demand for calcined petroleum coke.
Oil refineries deal with a variety of crude oils. The heavier crude oil blends require more resid, so delayed coking is needed. Refineries produce more fuel-grade coke (often abbreviated GPC). GPC is used to produce steam and hot water in the refining process. This reduces energy consumption and greenhouse gas emissions.
GPC can also be sold for other industrial applications. Calcined petroleum coke is used in the manufacturing of prebaked anodes for aluminum smelting, as a carburizing agent in metallurgical iron and steel production, and in the manufacture of graphite electrodes. It can be used instead of pulverized coal to power the coke ovens in a blast-furnace.
Calcined petroleum coke is a solid fuel that has a very low vapor pressure, so it is a safe and easy-to-handle feedstock. It is also a cheap energy source, which makes it an attractive option for steel and aluminum manufacturers looking to lower their energy costs. It can also be utilized in cement production, and in the manufacturing of chemicals including calcium sulfate.
Globally, calcined coke is expected grow at a 4.6% CAGR in the forecast period. The growth in the petcoke industry can be attributed in part to the increased use of petcoke for electrodes in steel and as a carburizer. It is also attributed in part to the increasing infrastructure development activities taking place in developing countries such as India, China, and government initiatives promoting a greener environment. The fluctuating crude oil prices are having a negative influence on the price of petcoke. This is hampering market growth. Moreover, stringent environmental regulations may restrict the use of petroleum coke in the future. Despite this, Asia Pacific's demand for calcined Petroleum Coke is expected increase due to the urbanization of the region and the growth in population, which will result in increased construction. According to government initiatives, the region's residential construction is expected increase.
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