The global calcined oil coke market will grow rapidly over the forecast period from 2028-2028. This growth is attributed to the increasing demand for energy, the increased aluminum production and infrastructure development. Rising investments, research and development activities, and strategic partnerships are driving the calcined petroleum coke market.
The report provides an in-depth market analysis and offers a detailed division by type, application and geography. The report also includes market size and projection estimates for each segment within the calcined petrol coke industry. The study summarizes the main drivers and restraints in the calcined petrol coke market to provide a comprehensive understanding of the market. It includes Porter's five forces model to analyze the competitive scenario and helps in identifying the top-performing market players. The report profiles key market players and discusses the strategies they use to grow.
According to Vantage Market Research (VMR), the calcined petroleum coke market is growing at a rapid pace due to increased construction spending in developing economies such as China, India, Japan, and Singapore among others. The market growth is expected to be further fueled by the growing demand for the pre-engineered constructions.
In terms of region, Asia Pacific dominates the calcined petroleum coke market. This is mainly due to the rise in infrastructure development in countries such as India, Indonesia, and China. These governments invest in the construction of roads, dams, and bridges to increase transport capacity and reduce traffic congestion. A growing population in the area is driving the demand for residential constructions. As a result, the Indian government started projects such as "100 smart cities" and 'Housing for all by 2022' that are expected to drive the residential constructions in the country and propel the calcined petcoke market growth over the forecast period.
The calcined petroleum market can be divided into two types: fuel grade and calcined. Fuel grade is projected to maintain its dominance over the forecast period. This is because calcined coke can replace coal in power and cement plants. In addition, it can be used to make metals, such as steel, which will boost the market.
The anode grades hold the second largest market share for calcined oil coke. It is used in electrical and induction ovens to produce aluminium, thereby boosting the market's growth. The growing demand of primary alumina also accelerates the calcined coke industry.
The power generation sector is the third-largest end-use of calcined petroleum coke. This is because it is a critical raw material for producing electricity. It is also less expensive than other renewable energies and has a high level of thermal efficiency. Moreover, it has low emissions and is safe to handle. Therefore, it is becoming a preferred source of electricity in developing countries such as China, India, and Japan.
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