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Global calcined petroleum coke market was valued at USD 25.2 billion in 2021, and it is expected to reach a value of USD 37.80 billion by 2028, at a CAGR of more than 5.2% over the forecast period (2022–2028).
Green or raw petroleum coke is produced by delaying the coking of leftovers received from crude oil distillation units of oil refineries. Calcined Petroleum Coke is the name for the aforementioned Green or Raw Petroleum Coke that has been heated to a temperature of 12000 to 13000 degrees Celsius. Calcined petroleum coke is widely used in the production of various carbon and graphite products, as well as for the melting of alumina in the aluminum industry, as a carbon raiser in the production of special high carbon steel in foundries, as a conductive backfill in ground electrode stations, and for other purposes.
The rise in demand for petroleum coke in the steel industry, expansion in the cement and power generation sectors, expansion in the supply of heavy oils globally, and supportive government initiatives regarding a sustainable and green environment are the main factors propelling the global calcined petroleum coke market growth. For example, India, which accounts for approximately 7% of the world's installed capacity, is the second-largest cement manufacturer in the world. In FY22, India's total capacity for cement manufacturing was close to 545 million tonnes (MT).
98 percent of the overall capacity is held by the private sector, and the remaining 2 percent by the governmental sector. About 70% of all cement produced in India is produced by the top 20 businesses. India has extensive limestone reserves of excellent quality and quantity, which offers the cement sector tremendous expansion potential. Because of the rising demand for various sectors, such as housing, commercial development, and industrial construction, the demand for cement is predicted to reach 419.92 MT per annum (MTPA) by FY 27. In FY21, the total amount of cement produced was 294.4 million tonnes (MT), down from 329 million tonnes (MT) in FY20.
Top Players in the Global Calcined Petroleum Coke Market
In May 2022, an agreement was struck by Metso Outotec and Vulcan Pelletizing LLC for the delivery of engineering and essential equipment for an iron ore Grate Kiln pellet plant. The factory is situated in Sohar, the Sultanate of Oman's industrial port. The order, which has an estimated value of EUR 33 million, has been recorded in Metals' Q2 2022 orders received. The Oman-based Jindal Shadeed Iron & Steel LLC will receive pellets from the pellet facility.
In May 2022, Tesab, a business established in Northern Ireland that specializes primarily in mobile crushing equipment for aggregates applications such as quarrying, recycling, asphalt, and concrete, has been fully acquired by Metso Outotec. The product line from Tesab will enhance Metso Outotec's in the mobile crushing and screening industries. With its more than 60 workers merging into the Metso Outotec group, Tesab continues to operate as an independent product brand inside the company.
Source:
https://www.linkedin.com/pulse/global-calcined-petroleum-coke-market-outlook-2028-chandrika-mundwaik
Calcined Petroleum Coke (CPC) is an invaluable carbon material with diverse applications across industries.
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