Calcined Petcoke Market to Garner USD 2.9 Billion Revenue by 2028 at 5.5% CAGR - Report by Market Research Future (MRFR)

Market Research Future
Market Research Future

Calcined Petcoke Market Insights and Industry Analysis by Grade (Anode Grade, Needle-Grade), Application (Aluminum, Steel, Titanium dioxide, Paint & Coatings, Fertilizer and others) and Region, Competitive Market Size, Share, Trends, and Forecast to 2028

New York, USA, Dec. 08, 2022 (GLOBE NEWSWIRE) -- Calcined Petcoke Market Overview:

According to a Comprehensive Research Report by Market Research Future (MRFR), “Calcined Petcoke Market Information by Grade, Application and Region - Forecast till 2028”, the market is estimated to grow at a 5.5% CAGR to reach USD 2.9 Billion by 2028.

Market Scope:

CPC, or calcined petroleum coke, is a byproduct of the coker unit in a crude oil refinery. Its primary application is in the production of anodes for use in metal-refining processes such as those used to produce aluminum, steel, and titanium. Aluminum, paints, coatings, colorings, etc. all use calcined petroleum coke as a raw material in some stage of production. Carbon, sulfur, metals, and other nonvolatile inorganic compounds make up the bulk of calcined petroleum coke, a dark, solid material. The low toxicity and ease with which it can be handled, transported, and stored are just a few of its many advantages.

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Report Scope:

Report Attribute

Details

Market Size in 2028

USD 2.9 Billion

CAGR

5.5% (2021–2028)

Base Year

2020

Forecast Period

2021–2028

Historical Data

2019

Forecast Units

Value (Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Grade, Application and Region

Geographies Covered

North America, Europe, Asia-Pacific, and Rest of the World (RoW)

Key Market Drivers

The rise in the production of green petcoke.

The uprising use of calcined pet coke in manufacturing the anode for aluminum and steel smelting is enhancing the market growth.

Competitive Dynamics:

Some of the key players operating in the global calcined petcoke market are

  • Rain Carbon Inc (US)

  • Metso Corporation (Finland)

  • Atha Group (India)

  • Essar (India)

  • India Carbon Limited (India)

  • Aminco Resources LLC (US)

  • IOCL (Switzerland)

  • Oxbow Corporation (US)

  • Bharat Petroleum Corporation Limited (India)

  • Maniayargroup (India)

  • Amritesh Industries Pvt. Ltd (India)

  • Garcia Munte Energia SL (Spain)

Market USP:

Market Drivers

The increase in green petcoke production is anticipated to be a key growth driver for the worldwide Calcined Petcoke Market during the assessment period. Additionally driving market expansion is the expanding application of calcined pet coke in the production of the anode for aluminum and steel smelting. As the world's crude oil production rises, the need for calcined petroleum coke rises alongside it.

Market Restraints

Calcined Petcoke's higher price is expected to slow the growth of the global market throughout the anticipated time period. In addition, the product's stringent requirements could create difficulties in the global market.

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COVID-19 Analysis

The ongoing COVID-19 pandemic has hit almost every industry badly, but possibly the industry which has witnessed the astronomic hit is the global oil and gas industry. Many oil and gas businesses have been forced to either cease or slow down their physical operations as a result of the spread of this virus, which has had an impact on both upstream and downstream output.

Since calcined petcoke is a byproduct of petroleum, it has also been negatively impacted due to the inefficiency of the oil and gas industry. The halt in production is also projected to slow the expansion of the calcined petcoke industry.

Market Segmentation:

By Grade

Looking at grades, the anode grade is expected to grow at a particularly high compound annual growth rate (CAGR) over the projections period. Due to its superior electrical conductivity and physical qualities, the anode grade subsegment dominated the market. As its name implies, anode grade is a low-quality product with a high concentration of carbon.

By Application

Steel is projected to have significant expansion during the study period as a result of demand from end-user industries. It is expected that the market will be driven by the increasing output of iron and steel in emerging economies in Asia Pacific and the Middle East and Africa.

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Regional Analysis:

Urbanization and industrialization in rising economies like India, China, and South-East Asian countries led to Asia-Pacific capturing the greatest share of the global calcined petcoke market in 2018. The rising demand for aluminum, steel, and titanium in the region is likely to fuel the expansion of the calcined petcoke market throughout the forecast period, as are the region's increasing automobile production, infrastructure development, and number of manufacturing businesses. Due to increasing demand for building materials and infrastructure projects in countries like India, China, and Singapore, the region is projected to account for a sizable chunk of the global calcined petroleum coke market in 2019. Additionally, increased residential and commercial construction is required to accommodate the growing population.

One of the most promising regions for calcined petcoke is North America. It is anticipated that the demand for calcined petcoke would increase over the projection period due to the expansion of the automotive sector, the rise in the number of construction projects, and the prevalence of oil and gas refineries in the area. In addition, the region is home to many medium- and small-scale calcined petcoke factories, which is useful because the need for calcined petcoke in the paint and coatings industry is on the rise. It is projected that the United States is currently the largest exporter of calcined petcoke. Calcined petroleum coke's predicted low price, as it can be used to generate a sizable amount of power at a reasonable rate, is expected to be a primary draw for its import.

The European market currently accounts for a sizeable portion of the global total, and its volume is only likely to increase during the projection period. Demand for calcined petcoke is likely to rise as major automakers in the region increase their production of high-tech steel. Market expansion for calcined petcoke is expected to be bolstered by rising demand for aluminum in the aerospace industry as a result of rising need for lightweight metals. Calcined petcoke is in high demand across the globe, and Europe is expected to be a significant importer of this product due to the region's extensive automotive industry and heavy metal production. Due to its convenient availability and low price, calcined petcoke is favored over natural gas and coal.

Increased demand from the construction and automotive sectors is driving steel prices up, creating opportunities in emerging countries like those in Latin America and the Middle East and Africa.

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