Global energy demand is expected drive the growth of the calcined petrol coke market. Calcined Petroleum Coke provides fuel for coal-fired electricity plants. Its high calorific value and low ash content makes it an ideal choice for power generation. It is also used in the production of titanium dioxide and aluminium. The expansion of these industries is driving the growth of the market.
The growth of the global calcined petroleum coke market is mainly driven by the increasing infrastructure development. The construction of railways, bridges, and dams is a major driver for the market. A growing population in China and India has also led to an increase of residential construction. This is a major factor in the growth of the petcoke market.
The market is also growing due to the rising demand for aluminium and steel. The calcined oil coke is used for the production of anodes to melt aluminium. It is also used to make graphite electrodes in electric arc furnaces. The market is also boosted by the growing focus on sustainable and environmentally friendly practices in various industries.
The supply of this product is expected to be hampered by environmental regulations and a ban on coal mining. Moreover, the volatility in crude prices will affect the price for calcined Petcoke. This will likely result in unexpected losses for manufacturers, and could impede the growth.
APAC is estimated to account for a significant share of the market during the forecast period. The market is growing in this region due to rapid industrialization. Government initiatives like 'Smart Cities and 'Housing for All' by 2022 are boosting construction in the region. This drives the calcined oil coke market.
The market is dominated by fuel grade calcined petrocoke. This is due to the growing demand for fuel in regions like India and China. Moreover the demand for calcined petrol coke is increasing due to the use of it in the production and manufacture of chemicals and fertilizers. The other grades of calcined petroleum coke include anode and needle coke, which are used in the steel and graphite electrodes industries respectively.
Key players in the calcined petrol coke market are focusing on strengthening their distribution networks and collaborating directly with end consumers to boost sales. The major companies are also focusing on expanding their production capabilities in order to meet the demand for petcoke. The growth of this market will also be boosted by increased investment in R&D by the major players. This is expected to lead to the introduction of new products in the market. In the coming years, the competition in the calcined coke industry will likely intensify.
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