Petroleum coke contains a significant amount of carbon and is a by-product of crude oil refinement. This highly combustible material is often used as fuel for power generation or in cement production. It is also used as a raw material for producing graphite electrodes. This market is expected to grow slowly due to the competition from other carbon materials. Furthermore, international trade policies and import/export restrictions can affect supply chain operations.
The calcined coke market should also be driven primarily by increased construction and infrastructure. For instance, construction of bridges, roads, and dams in countries like India, China, or Singapore will increase the demand. The growing steel industry is also expected to increase the demand for calcined petrol coke.
The calcined petroleum coke market is further segmented by type, application, and geography. By type, the market can be divided into needle, shot, sponge, and honeycomb. By application, the market is divided into fuel, aluminum, bricks & glass, paints & coatings, titanium dioxide, and steel. The calcined petroleum coke market by geography is divided into North America, South America, Europe, Asia Pacific, and Rest of the World.
Many manufacturers are looking to reduce costs and improve their manufacturing processes as the market for calcined petrol coke continues to grow. One way is to invest new equipment or technology that can reduce waste. A second strategy is to create partnerships with other companies within the industry, like aluminum and steel producers. They can then share resources, and improve efficiency.
The calcined petcoke market is also driven by the increasing investments of key manufacturers. For example, in 2023, Emirates Global Aluminum (EGA) signed a deal with BP to develop a calcined petcoke mixing plant. This partnership will enable EGA to secure an additional supply of low sulfur calcined petcoke for its aluminum plants.
The global calcined petroleum coke market is also driven by the increasing production of aluminum. The Asian region, in particular, has seen a significant increase in production due to economic reforms and infrastructure development. This trend is expected to continue over the forecast period.
In addition to these factors, the market is impacted by the changing government regulations and severe weather conditions. For example, in 2016, the Indian government demonetized all 500 and 1000 rupee banknotes, leading to cash shortages and reducing demand for cement, which in turn reduced calcined petroleum coke demand.
In order to curb pollution caused by the burning of petcoke, many countries have imposed strict emission standards on their refineries. These regulations led to the formation a global coalition known as MARPOL or the Marine Pollution Convention. It has over 180 members. The implementation of this code has led to a decrease in the use of fuel grade petcoke, as it is more costly than calcined petroleum coke. GPC may still be used for gasification, cement, lime-kiln, and calcium carbide industries, depending on the actual user.
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