19 December 2019
The Calcined Petcoke Market Report 2020-2030: Forecasts By Grade (Technical Grade, Industrial Grade), by Physical Form (Sponge Coke, Purge Coke, Needle Coke, Shot Coke), By Application (Paints & Coatings, Cement Industry, Steel Industry, Aluminum Industry, Others), by region and analysis of leading companies operating in this industry.
Global Calcined Petcoke Market is expected to reach more than USD 5 billion by 2030 due to the increasing demand from the steel industry as an additive in the electrodes or as a carburizer, the global calcined petcoke market is expected to see significant growth at a CAGR of over 3 percent over the forecast period. Therefore, it is expected that the use of anode grade petcoke and needle coke during steel production and in graphite electrodes would drive market growth, respectively.
The key drivers for market growth include growing demand for oil coke in stainless steel; innovations in the cement and power generation industries; increase in global supply of heavy oil and supportive government initiatives for the stable and green climate.
Incent construction expenditure combined with increased demand for pre-engineered construction (PEB) is main driving force for the global calcined petcoke industry, particularly in Asia Pacific's emerging economies, including China, India, Japan and Thailand.
Major industry players create new production processes for medium grade needle coke to improve the properties and render it ideal for multiple applications. Technological innovations are targeted at plant optimization and increasing calcined petcoke use fields.
The rising worldwide imports and exports are likely to have an impact on the consumer demand over the forecast period. Increasing steel production is projected to affect the need for CPC in the emerging Middle East & Africa and Asia Pacific economies.
The ban on coal mining, however, is likely to hamper supply, creating a supply shortage in the industry as crude oil distillates and residues are the main sources of calcined petcoke derived from the petroleum industry. Crude oil's fluctuating costs have a similar impact on petcoke rates, leading producers to sometimes suffer unforeseen losses.
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