Calcined Petroleum Coke Market Overview
Calcined Petroleum Coke Market size is forecast to reach $10 billion by 2025, after growing at a CAGR of 4.6% during 2020-2025. The key factors driving the calcined petcoke market growth include rising demand for petroleum coke in the steel industry as an additive in the electrodes or as a carburizer, development in the cement and power generation industries, growth in the supply of heavy oils globally and favorable government initiatives regarding the sustainable and green environment. In addition, the use of anode grade petcoke and needle coke during the production of steel and in graphite electrodes, respectively is expected to drive the market growth.
Report Coverage
- The report: “Calcined Petroleum Coke Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Calcined Petroleum Coke Industry.
- By Type: Needle Coke, Shot Coke, Sponge Coke, Honeycomb Coke and others.
- By Application: Fuel, Aluminum, Bricks & Glasses, Paints & Coatings, Titanium Dioxide, Steel, Fertilizer, and others.
- By Geography: North America, South America, Europe, APAC, and RoW.
Key Takeaways
- Asia Pacific dominates the Calcined Petroleum Coke market, owing to the increasing manufacturing & construction activities in the region due to various government initiatives such as 100 smart cities and Housing for all by 2022 in the region.
- Major industry participants are developing novel manufacturing processes for intermediate grade needle coke in order to enhance the properties and make it suitable for several applications. Technological innovations are aimed at refining processes and expanding application areas of calcined petcoke. Which will further support calcined petcoke market growth.
- Due to the COVID-19 pandemic, most of the countries have gone under lockdown, due to which operations of various industries including construction has been negatively affected, which is hampering the calcined petcoke market growth.
- Type - Segment Analysis
Needle coke held the largest share in the calcined petcoke market in 2019. Needle Petroleum Coke or needle petcoke is a premium grade calcined product. It contains needle-like crystals and is used in the manufacturing of electrodes, which are used in the steel industry, owing to its electrical conductivity and physical properties. Needle coke is used in the production of steel, it is employed in manufacturing graphite electrodes, which are used in electric arc and induction furnaces. Growing demand for steel and aluminum driven by flourishing construction, automobiles and transportation sector will stimulate the product demand. In addition, rapid commercialization & industrialization, primarily across developing countries will further augment the industry growth in the coming years.
Application - Segment Analysis
Aluminum application held the largest share in the calcined petcoke market in 2019 and is growing at a CAGR of 5%, owning to increasing aluminum demand and increasing calcined petcoke usage in manufacturing aluminum. High ductility, anti-corrosion property, light weight and excellent thermal & electrical conductivity are some of the key properties of aluminum which makes it suitable for key industries including medical, electrical components and ceramics. In addition, rapid urbanization across emerging economies has created an incremental demand for the metal, which will drive the market growth over the forecast period. Calcined petcoke demand across power plants is expected to witness growth owing to increasing adoption of fuel with high energy content along with the growing demand for electricity across emerging economies. High fuel stability and less risk of combustion during transportation are some of the key factors driving the product adoption.
Geography - Segment Analysis
Asia Pacific held the largest share in the Calcined Petroleum Coke market in 2019 up to 40%. owing to the growing infrastructural activities such as building, roads, bridges and dams constructions in the countries such as India, China and Singapore due to economic reforms, infrastructural development, and rising per capita income of the individuals. Also, the population growth is resulting in the need for more residential and commercial sectors. The Indian government has initiated projects, such as ‘100 smart cities’ and ‘Housing for All by 2022,’ which are expected to drive the Indian residential construction market over the forecast period. According to Australian trade and investment commission, Singapore government spends at least S$2 billion on public infrastructure each month. Also, the government projected Singapore’s average construction demand for 2018 and 2019 between S$26 billion to S$35 billion. According to International Trade Administration (ITA), the construction value of China in 2018 was USD 893.58 and it is forecasted to reach USD 968.06 by 2019. Also, the Chinese construction industry is forecasted to grow at an annual average of 5% in real terms between 2019 and 2023. Government of India established the National Steel Policy (NSP) 2017, to create a globally competitive steel industry in India. NSP 2017 envisages 300 million tonnes (MT) steel-making capacity and 160 kg per capita steel consumption by 2030-31. Such investments and initiatives by the government in APAC region are anticipated to drive the calcined petcoke market during the forecast period.
Source:
https://www.industryarc.com/Report/17755/calcined-petroleum-coke-market.html
