Calcined Petroleum Coke Market Size, Share & Industry Analysis, By Type (Anode Grade , Needle Grade ), By End-user (Carburizing & Recarburizing, Electric Arc & Induction Furnaces, Others ) And Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Calcined petroleum coke (CPC) is the byproduct obtained from the coker unit in a crude oil refinery. It is primarily used to make anodes for the aluminum, steel, and titanium smelting industry. The global calcined petroleum coke market is rapidly growing across the globe, owing to the increasing crude oil supply across the globe. Calcined petroleum coke is also used as a feedstock for a wide range of the products such as aluminum, paints, coatings, and colorings, etc. Calcined petroleum coke is a black-colored solid material primarily comprises of carbon, sulfur, metals, and nonvolatile inorganic compounds. It offers several advantages such as safe handling, transportation, and storage with lox toxicity.
Based on type, the global market is bifurcated into anode grade and needle grade. The Anode grade segment accounted for the major share of the market, owing to its excellent electrical conductivity and physical properties. Anode grade is a low-quality product with a high content of carbon.
Based on end-user, the market is classified into carburizing & recarburizing electric arc & induction furnaces, and others. Among these, the electric arc and induction furnaces segment accounted for the major share of the market. Electrodes used in the manufacturing of electric and induction furnaces are manufactured using calcined pet-coke. These furnaces are widely used in steel manufacturing. Calcined petroleum coke is widely used in carburizing and recarburizing process, owing to its lower grade of coke and high carbon content.
Demand for calcined coke rapidly growing across the globe, due to the increasing steel industry, development in the cement and power generation industries, growth in the supply of heavy oils and favorable government initiatives regarding the green environment. Calcined petroleum coke is widely used in the aluminum and manufacturing of electrodes, which are used in the metal sector for electric arc and induction furnaces. Rising iron & steel production in developing regions such as Asia Pacific and Middle East & Africa is anticipated to drive the market. The key restraint of the market is the ban on coal mining coupled with fluctuating crude oil prices.
Key Market Driver -
Growing Metal Industry Across the Global
Key Market Restraint -
Ban On Coal Mining Coupled With Fluctuating Oil Prices
Key Players Covered:
Some of the major companies in the calcined petroleum coke market are Oxbow Corporation, Atha Group, Rain Industries Limited, HPCL-Mittal Energy Limited (HMEL), Essar Oil Ltd., Henze International LLC, BP, Chevron Corporation, and ArcelorMittal.
Regional Analysis:
The global calcined petcoke market is studied across different regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounted for the major share of the market in 2019, owing to the higher demand from the construction sector. In Asia Pacific Region, especially countries such as China, India, Japan, and Thailand are increasing their construction expenditure owing to the rising urbanization and population is the key driving factor for the global calcined petroleum coke market. North America is also the key region for the calcined coke market, owing to the expansion of the metal industry and the increasing investment in the oil & gas refineries. The U.S. accounts for the major share in the North America market, due to the rising installation of delayed coker units along the Mid-West and Gulf Coast area.
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Segmentation
ATTRIBUTES | DETAILS |
By Type |
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By End-user |
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By Geography |
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Key Industry Developments
- On October 5, 2020, Chevron Corporation acquired Noble Energy, Inc. Chevron Corporation is involved in explores for, produces and transports crude oil and natural gas; manufactures and sells petrochemicals and additives.
- On November 4, 2020 Rain Carbon Inc., started its calcination and energy production at its Lake Charles facility in Louisiana, U.S. after taking a direct hit from Hurricane Laura in August 2020.
- Ongoing
- 2023
- 2019-2022
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