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The green petroleum coke and calcined petroleum coke market size is forecast to increase by USD 11.58 billion at a CAGR of 6.78% between 2023 and 2028. Market growth hinges on multiple factors, notably the heightened demand for aluminum and steel alongside the increasing need for calcined green petroleum coke and calcined petroleum coke across diverse industries, driven by rapid urbanization. However, challenges persist, including the volatility in crude oil prices, stringent regulatory frameworks imposed by governments, and a growing emphasis on alternative energy sources. Despite the promising trajectory fueled by industrial demand and urban development, uncertainties stemming from fluctuating oil prices and regulatory pressures pose hurdles to sustained growth. Overcoming these challenges necessitates strategic planning and innovation to navigate regulatory landscapes and capitalize on emerging opportunities in the evolving energy market.
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Green Petroleum Coke and Calcined Petroleum Coke are essential by-products derived from the refining of crude oil. Green Petroleum Coke, also known as Vitrified Coke, is a porous, low-sulfur coke with a high carbon content. It is primarily used as a fuel in power generation and cement industries. Calcined Petroleum Coke, on the other hand, is a high-carbon, low-volatile coke. It is produced by heating Green Petroleum Coke in the absence of air. Calcined Petroleum Coke is used in various industries, including Aluminum, Paints and Coatings, Colorings, Electronic, Ceramics, Metallurgical, and Sulfur production. The demand for Calcined Petroleum Coke is significantly influenced by the economic activity of various end-use industries. The aluminum industry is a major consumer, accounting for over 50% of the global demand. The demand for Calcined Petroleum Coke in the aluminum industry is driven by the production of primary aluminum. The COVID-19 pandemic and subsequent recession, lockdowns, and curfew situations led to a decline in demand for Calcined Petroleum Coke in 2020. However, the market is expected to recover as economic activity picks up and industries resume production. The construction sector, particularly in the area of lightweight construction, is also expected to drive the demand.
The World Bank projects that electricity generation will remain a significant contributor to the growth of the Calcined Petroleum Coke market, as the demand for electricity continues to rise in developing countries. The automotive and aerospace industries are also expected to contribute to the market growth as they recover from the pandemic. In summary, the Green Petroleum Coke and Calcined Petroleum Coke market is driven by the demand from various end-use industries, with the aluminum industry being the largest consumer. The market was negatively impacted by the COVID-19 pandemic but is expected to recover as economic activity resumes. The construction sector and electricity generation are expected to be major growth drivers in the future. 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.
Increasing demand for aluminum and steel is the key factor driving the growth of the global market. They have diverse uses in many industries, including aluminum and steel. The aluminum industry uses these raw materials to produce aluminum melting electrodes that are used in the production of aluminum. In the steel industry, they are used as raw materials for artificial graphite electrodes used in steelmaking.
Additionally, India is one of the most important markets for the manufacture of steel products due to the increasing construction activity in the country. This marks the high growth of global steel production, which will increase the demand in steel production. Therefore, increasing demand for aluminum and steel from various industries will stimulate consumption, boosting the growth of the global market during the forecast period.
Advances in the oil and gas industry are the primary trend in global market growth. Various technological developments in machine learning, artificial intelligence, and robotics are transforming the oil and gas industry as it moves toward automation. The advent of advanced types of machinery, such as self-propelled ore trucks and drilling robots, has brought new levels of automation and safety to petroleum refining, increasing production efficiency. The use of automation and robotic machinery is increasing in the oil and gas industry. This will increase the capacity and efficiency of the manufacturing facility, adding significant value to stakeholders and the oil and gas industry.
Such factors are expected to stimulate the global production of oil, which is the raw material for producing this during the forecast period. The abundant supply of oil and oil refining help to meet the global demand from various industries, such as aluminum and steel. This will drive the growth of the market in focus during the market forecast period.
Fluctuation in crude oil prices is a major challenge to the growth of the global market. Since petroleum coke is a solid carbon by-product of the petroleum refining process, the price of crude oil is an important factor affecting petroleum coke production. Fluctuations in crude oil prices adversely affect petroleum coke production. It also affects the performance and profitability of upstream oil and gas companies and refiners. Low oil prices are impacting the investment cycle of the oil and gas industry. Due to various supply and demand factors, world crude oil prices are extremely volatile.
For instance, the ongoing Russia-Ukraine war has been negatively impacting the supply and demand of crude oil since Q1 2022. In the wake of Russia's invasion of Ukraine, global oil prices soared to more than USD120 a barrel in 2022 due to a shortfall in the supply of oil from Russia. Also, the ongoing war has disrupted the supply chain of the oil and gas industry, which has increased the volatility of crude oil prices across various regions of the globe. Thus, the continuous fluctuations in crude oil prices will hamper the growth of the 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 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
Fluctuation in crude oil prices is a major challenge to the growth of the global market. Since petroleum coke is a solid carbon by-product of the petroleum refining process, the price of crude oil is an important factor affecting petroleum coke production. Fluctuations in crude oil prices adversely affect petroleum coke production. It also affects the performance and profitability of upstream oil and gas companies and refiners. Low oil prices are impacting the investment cycle of the oil and gas industry. Due to various supply and demand factors, world crude oil prices are extremely volatile.
For instance, the ongoing Russia-Ukraine war has been negatively impacting the supply and demand of crude oil since Q1 2022. In the wake of Russia's invasion of Ukraine, global oil prices soared to more than USD120 a barrel in 2022 due to a shortfall in the supply of oil from Russia. Also, the ongoing war has disrupted the supply chain of the oil and gas industry, which has increased the volatility of crude oil prices across various regions of the globe. Thus, the continuous fluctuations in crude oil prices will hamper the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market 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.
Aluminium Bahrain BSC: The company offers petroleum coke calciner and seawater desalination. Also, the company produces aluminum metal through smelting.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market research 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 market share growth by the green petroleum coke segment will be significant during the forecast period. Green petroleum coke is a carbonaceous solid residue produced by the thermal decomposition of petroleum fractions. It is a water-insoluble, non-explosive, non-reactive product with a high ignition point. Most of the green petroleum coke produced is used in the aluminum industry, followed by the steel and chemical industries and the manufacturing of several graphite and carbon products. It is one of the essential materials in the manufacture of anodes for the aluminum industry.
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The green petroleum coke segment was valued at USD 15.1 billion in 2018. Green petroleum coke is also used as a raw material, replacing some types of metallurgical coal in the steel industry. It is also used in the steel industry for steelmaking, decarburization, and the production of specialty steels and alloys. Green petroleum coke is used as a fuel in several industries including cement and others. Hence, the growth of these industries will increase the consumption of green petroleum coke, driving its demand during the forecast period.
APAC is estimated to contribute 43% to the growth of the global market during the projection period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the projection period.
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China is a major contributor to the APAC market. Most of the calcined petroleum coke produced in China is used in the aluminum industry. This country is one of the world's leading producers of aluminum. High production of primary aluminum in the country will significantly increase the demand for calcined petroleum coke, driving the growth in the region.
Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Aluminium Bahrain BSC: The company offers petroleum coke calciner and seawater desalination. Also, the company produces aluminum metal through smelting.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Aluminium Bahrain BSC, Asbury Carbons Inc., Atha Group, BP Plc, Chevron Corp., China National Offshore Oil Corp., China National Petroleum Corp., China Shenhua Energy Co. Ltd., ConocoPhillips Co., Exxon Mobil Corp., Gautam ZEN UK LTD., Hebei Kangnaixing Carbon New Material Co. Ltd., Minmat Ferro Alloys Pvt. Ltd., National Iranian Oil Products Refining and Distribution Co., Oxbow Corp., Rain Industries Ltd., RIZHAO HENGQIAO CARBON CO. LTD., Shell plc, TotalEnergies SE, and Valero Energy Corp.
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.
Green Petroleum Coke and Calcined Petroleum Coke are essential by-products derived from the refining of heavy oils in a Coker unit. Calcined Petroleum Coke is further processed to produce various industrial products, including Aluminum, Paints, Coatings, Colorings, Electronics, Ceramics, Metallurgical industries, and Sulfur. The primary consumers of Calcined Petroleum Coke are Steel and Cement industries for their production. The Green Petroleum Coke market is driven by the demand from end-use industries such as Power generation, Heavy oils, and Construction sector. However, the market's growth is influenced by stringent environmental regulations, Coal mining, and Crude oil prices. Technology launches, acquisitions, and economic activity also impact the market's growth. Calcined Petroleum Coke's primary application is in the production of Aluminum. The aluminum industry's demand is driven by various sectors, including Automotive, Aerospace, and Construction. The market's growth is affected by factors such as aluminum production, economic activity, recession, lockdown, curfew situations, and the price of aluminum. The non-volatile inorganic content in Green Petroleum Coke and Calcined Petroleum Coke is used as a Synthetic crude oil substitute in the Metallurgical industry. The Metals industry uses Calcined Petroleum Coke as a reducing agent in the production of primary aluminum. In summary, the market's growth is driven by the demand from various end-use industries, including Aluminum, Steel, Cement, Power generation, and Construction sector. The market's growth is influenced by factors such as environmental regulations, Crude oil prices, and economic activity. The market's future outlook is promising, with potential growth opportunities in the Lightweight Construction sector.
Further, the market is influenced by several key factors. Rising aluminum demand is driven by sectors such as construction activities and truck manufacturers, bolstered further by environmental norms encouraging electro-mobility. Companies like AMINCO play crucial roles in supplying anode-grade coke essential for aluminum production. As the market recovers, trends in additive manufacturing and megatrends like environmental norms continue to shape demand. The wholesale price index fluctuates, impacting both CPC and aluminum costs. Innovations in aluminum formwork and aluminum furniture reflect the industry's adaptation to evolving consumer needs, ensuring sustainable growth amid changing statistical Bundesamt insights.
Green Petroleum Coke And Calcined Petroleum Coke Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.78% |
Market growth 2024-2028 |
USD 11.58 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.23 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 43% |
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, Asbury Carbons Inc., Atha Group, BP Plc, Chevron Corp., China National Offshore Oil Corp., China National Petroleum Corp., China Shenhua Energy Co. Ltd., ConocoPhillips Co., Exxon Mobil Corp., Gautam ZEN UK LTD., Hebei Kangnaixing Carbon New Material Co. Ltd., Minmat Ferro Alloys Pvt. Ltd., National Iranian Oil Products Refining and Distribution Co., Oxbow Corp., Rain Industries Ltd., RIZHAO HENGQIAO CARBON CO. LTD., Shell plc, TotalEnergies SE, and Valero Energy Corp. |
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 market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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