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The calcined petcoke market size is forecast to increase by USD 4.84 billion and estimated to grow at a CAGR of 6.69% between 2024 and 2028. The market's growth hinges on several pivotal factors. Firstly, there's a rising demand for calcined petcoke across diverse industries, driven by its versatility and utility in various applications. Additionally, the increasing demand for aluminum and steel, two vital industrial metals, contributes significantly to the market's expansion, as calcined petcoke is widely used in their production processes. Moreover, rapid urbanization, particularly in emerging economies, fuels the need for construction materials and infrastructure development, further boosting the demand for calcined petcoke. These factors collectively underscore the market's growth trajectory, indicating a positive outlook for the industry in the coming years.
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Calcined petroleum coke, derived from the coker unit in a crude oil refinery, is a crucial feedstock in various industries. Its primary applications include anodes for aluminum and steel manufacturing, titanium smelting, and carburizing and recarburizing in steel industry. In the aluminum industry, calcined petcoke serves as a critical raw material for producing anodes, which are essential in the electrolytic process of aluminum production. Similarly, in the steel industry, it is used in the production of electrodes and for carburizing and recarbonizing processes. The titanium smelting industry also relies on calcined petcoke as a feedstock for producing high-quality titanium sponge. Additionally, calcined petcoke finds applications in the cement industry and paint manufacturing due to its needle-like crystals and physical qualities. The crude oil supply and upstream operations significantly impact the market. The manufacturing units in the downstream operations continuously seek high-quality calcined petcoke to meet their specifications. Coal is another alternative feedstock for calcined petcoke production, but its availability and quality can influence the market dynamics. Overall, the market is driven by the demand from various industries, including aluminum, steel, and titanium smelting.
Increasing demand for aluminum and steel is one of the key factors driving the growth of the market. In the aluminum industry, petcoke is used as a raw material for the production of aluminum smelting electrodes, which are used in the production of aluminum. Aluminum has a wide variety of applications in many end-user industries, such as transportation, machinery and equipment, construction, consumer goods, electrical and electronic, and sheet and packaging. This is supported by crude oil refinery, escalating opportunities, paints & coatings, fertilizer sector, and infrastructural activities. In the steel industry, petcoke is used as a raw material for the manufacture of synthetic graphite electrodes used in steelmaking.
Furthermore, the demand for steel is growing across the globe due to its applications in construction, automotive, and other fields. This indicates a strong growth in steel production worldwide, which will boost demand for petcoke in steel production. Hence, the growing demand for aluminum and steel from various industries will boost the consumption of petroleum coke which in turn will fuel the market during the forecast period.
Advances in the mining industry is one of the primary trends that shaping market growth. Working in the mining sector is considered to be one of the most dangerous, as miners face many risks from being trapped inside a mine, falling rocks, fires, and inhaling toxic substances. However, the industry is transforming as it undergoes an increasing shift towards automation due to a number of technological developments in machine learning, artificial intelligence, and robotics.
Moreover, for increasing production efficiency, the advent of advanced machinery such as automated ore trucks and robotic rigs has brought a new measure of automation and safety to mining operations. These machines do not require shifts or breaks between operations and can do the job continuously. Hence, advancements in the mining industry are expected to drive the growth of the market during the market growth and forecasting period.
Declining investments in the coal industry is a significant challenge that affects the growth of the market. Concerns about the role of carbon emissions in climate change have resulted in a 33.78% drop in funding for the coal industry. In addition, several large banks, such as JPMorgan Chase and Co., HSBC Holdings Plc, and Credit Suisse Group AG, have introduced new policies that prevent new investment in coal projects. Other banks such as Societe Generale SA and Deutsche Bank AG also implemented a ban on lending to coal-fired power plants.
As a result, a reduction in investment in coal production will have a negative impact on coal tar production, as coal is the raw material used to produce coal tar. Likewise, a decrease in coal tar production will affect the production of petcoke. Therefore, these factors will impede the growth of the global calcined petcoke market during the forecast period.
The market report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
The anode grade segment is estimated to witness significant growth during the market forecasting period. Anode-grade petcoke is green petroleum coke with about 3% sulfur, low ash content, and minimal metal content. Growing demand for aluminum from various end users including automotive, construction, and others is driving the demand for anode-grade petcoke.
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The anode grade segment was the largest segment and was valued at USD 6.87 billion in 2018. Aluminum is favored by interior designers because it is easy to cast and looks great. Tables, chairs, mirrors, frames, and trim panels are made up of aluminum. Aluminum foil is also used in refrigerators as well as kitchen utensils. Because aluminum is resistant to corrosion and has high thermal conductivity, it is also easy to clean. Hence, due to high aluminum application, increasing demand will boost the growth of anode-grade petcoke and drive the global market during the forecast period.
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APAC is estimated to contribute 50% to the growth of the global market during the market forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. China and India are the key countries contributing to the growth of the market in APAC. Market players such as Atha Group, COCAN (HUBEI) GRAPHITE MILL INC., Graphite India Limited, India Carbon Ltd, Maniyar Group of Industries (Maniayargroup), Minmat Ferro Alloys Private Limited, and Rain Industries Limited driving the rapid growth of the market in the APAC region.
Moreover, China is one of the world's leading aluminum producers. Domestic production of primary alumina will significantly increase the demand for calcined petcoke. Furthermore, due to the development of the steel industry, the production of calcined petcoke in the region will increase as it is used as a reducing agent in steel production. Hence, increased demand for aluminum, steel, paints, and coatings is expected to fuel the growth of the market in the region during the market growth analysis period.
Generate a content using Highly Related KW and add it under Market Dynamics followed by your Static content if its there in Template. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Oxbow Corp.: The company offers Oxbows calcined petroleum coke in aluminum and steel industry.
The research report also includes detailed analyses of the competitive landscape of the market and information about Key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Calcined petroleum coke, derived from the coker unit in a crude oil refinery, plays a vital role as a feedstock in various industries. Its primary applications include anodes for aluminum and steel smelting, titanium smelting, and carbon sources for anode and needle grades used in the production of electrodes. In the aluminum industry, calcined petcoke is essential for the smelting process, while in steel manufacturing, it enhances the electrical conductivity and physical properties of electrodes. The market is driven by the demand from the aluminum, steel, and titanium smelting industries. Additionally, it finds applications in the production of paints, coatings, colorings, and nonvolatile inorganic compounds. The crude oil supply influences the production activities of calcined petcoke, with heavy oils being a significant source. Natural gas and coal are also used as alternative feedstocks in some cases. Calcined petcoke is used in power generation, automobile sectors, heavy metal work, and the fertilizer sector. It is also employed in carburizing and recarburizing processes. The market is expected to grow due to the increasing demand from various industries, including the metal sector, power generation, and automobile sectors. The physical and chemical properties, such as its low sulfur and carbon content, make it a preferred choice over other feedstocks.
Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.69% |
Market growth 2024-2028 |
USD 4.84 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.15 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 50% |
Key countries |
China, US, India, Spain, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aluminium Bahrain BSC, Aminco Resources LLC, Asbury Carbons Inc., Atha Group, BP Plc, Carbograf Industrial SA de CV, Cocan Hubei Graphite Mill Inc., Dempo Group of Companies, Garcia Munte Energia SL, Graphite India Ltd., Hebei Kangnaixing Carbon New Material Co. Ltd, Hindustan Westcoast Trading Co., India Carbon Ltd., Maniyar Group of Industries, Minmat Ferro Alloys Pvt. Ltd., Modern Industrial Investment Holding Group, Oxbow Corp., Rain Industries Ltd., Reliance Industries Ltd., and Weifang Lianxing New Material Technology Co Ltd |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID --19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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