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The green petroleum coke and calcined petroleum coke market are estimated to grow at a CAGR of 6.86% between 2022 and 2027. The size of the market is forecast to increase by USD 11,052.33 million. The growth of the market depends on several factors, including the increasing demand for aluminum and steel, the rising demand for calcined green petroleum coke and calcined petroleum coke from various industries, and rapid urbanization.
This report extensively covers market segmentation by application (green petroleum coke and calcined petroleum coke), type (fuel grade and calcined coke), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing demand for aluminum and steel is notably driving the market growth, although factors such as fluctuations in crude oil prices may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers 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 green petroleum coke and calcined petroleum coke market. Green petroleum coke and calcined petroleum coke have diverse uses in many industries, including aluminum and steel. The aluminum industry uses green petroleum coke and calcined petroleum coke raw materials to produce aluminum melting electrodes that are used in the production of aluminum. In the steel industry, green petroleum coke and calcined petroleum coke 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 for green petroleum coke and calcined petroleum coke in steel production. Therefore, increasing demand for aluminum and steel from various industries will stimulate the consumption of green petroleum coke and calcined petroleum coke, boosting the growth of the global green petroleum coke and calcined petroleum coke market during the forecast period.
Advances in the oil and gas industry are the primary trend in the global green petroleum coke and calcined petroleum coke 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 the 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 green petroleum coke and calcined petroleum coke during the forecast period. The abundant supply of oil and oil refining help to meet the global demand for green petroleum coke and calcined petroleum coke from various industries, such as aluminum and steel. This will drive the growth of the market in focus during the forecast period.
Fluctuation in crude oil prices is a major challenge to the growth of the global green petroleum coke and calcined petroleum coke 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 $120 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 Green Petroleum Coke and Calcined Petroleum Coke Market Customer Landscape
Vendors 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 vendors, 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 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 14,305.33 million in 2017 and continue to grow by 2021. 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.
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APAC is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. 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 of green petroleum coke and calcined petroleum coke market in the region.
In 2020 and early 2021, COVID-19 posed a challenge to the growth of the green petroleum coke and calcined petroleum coke market in APAC. However, in 2021, the market for green petroleum coke and calcined petroleum coke in APAC was positively impacted owing to the increasing adoption of health and safety measures to provide a safe working environment to employees present in the manufacturing plants. Besides, steel and aluminum plants have started to adopt measures such as social distancing to prevent the spread of COVID-19. Such factors will drive the growth of the regional green petroleum coke and calcined petroleum coke market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global green petroleum coke and calcined petroleum coke market as a part of the global coal and consumable fuels market within the global coal market. The global coal and consumable fuels market covers companies primarily involved in the production and mining of coal, related products, and other consumable fuels related to the generation of energy. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
Green Petroleum Coke And Calcined Petroleum Coke Market Scope |
|
Report Coverage |
Details |
Page number |
152 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.86% |
Market growth 2023-2027 |
USD 11,052.33 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.15 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 47% |
Key countries |
US, China, India, Spain, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, 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 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 report to meet your requirements. Get in touch
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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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