Calcined Petcoke Market Size & Share, by Application (Aluminum, TiO2, Steel, Paint & Coatings, Fertilizers, Metals); Grade (Anode, Needle); End-User (Carburizing & Recarburizing, Electric Arc & Induction Furnaces) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5520
  • Published Date: Jan 08, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Calcined Petcoke Market size is poised to reach USD 25 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of calcined petcoke was USD 16 Billion. The reason behind the growth is due to the growing production of crude oil across the globe. The most in-demand commodity in the world right now is crude oil which is one of the main factors propelling the world economy. For instance, the demand for crude oil worldwide was over 99 million barrels per day in 2022 and is expected to rise to around 101 million barrels per day in 2023. According to estimates, global crude oil output rose at a record of over 5% rate in 2022, significantly faster than it did in 2021.

The growing government initiatives to create a green environment are believed to fuel the market growth. To support the transformation of energy and industrial systems, increase energy efficiency, and combat environmental pollution, governments across the globe have agreed upon general principles that will guide the implementation of the green economy at all levels. Furthermore, governments are enacting stricter laws, and green levies on activities that negatively impact the environment, and are also providing grants and subsidies to create game-changing technologies including waste management, carbon capture, renewable energy, and energy efficiency.


Calcined Petcoke Market
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Calcined Petcoke Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~5%

Base Year Market Size (2023)

~ USD 16 Billion

Forecast Year Market Size (2036)

~ USD 25 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)\
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Calcined Petcoke Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Rising Adoption of Calcined Petcoke in the Metal Industry - Calcined petroleum coke is mostly used in metallurgy and foundries to melt aluminum for use in manufacturing special high-carbon steel, as a carbon raiser in foundries to make carbon and to manufacture a variety of carbon and graphite products.
  • Use of Petcoke for Power Generation- Petroleum coke is extensively used as fuel in power plants to produce electricity. For instance, more than 75% of Petcoke generated globally is classified as fuel-grade thus, it is employed in the production of electricity.
  • Growing Usage in Cement Kilns- Calcined Petcoke is an electrically conductive substance that can be combined with carbon fiber as an additive to create an electrically conductive cement mortar that is utilized as an energy source in the cement industry. For instance, more than 78% of fuels used in cement kilns globally are conventional fossil fuels, with petcoke making up over 40% of this total.
  • Applications of Calcined Petcoke as a Feedstock- Petcoke is used as a feedstock in the manufacture of diverse carbon goods, including carbon brushes, graphite electrodes, and more carbon products. Moreover, it goes toward making activated carbon, which is used to purify air and water and it is utilized in the creation of paints, inks, and polymers.

Challenges

  • Ban on Coal Mining in Certain Regions - Many nations throughout the world are shifting away from coal since there is a lengthy history of substantial adverse environmental effects associated with the coal mining business that results in extensive degradation and huge evictions of residents. Moreover, more economic considerations than worries about climate change are the main drivers of this moratorium on new coal mines which is expected to impact the calcined petcoke market growth for calcined petroleum coke (CPC) which is also derived from coal.
  • Volatility in Raw Material Prices Resulting from Several Factors including Geopolitical Tensions, and Supply Chain Disruptions
  • Environmental Concerns associated with High Carbon Content May Lead to Higher Demand for Cleaner Alternatives


Calcined Petcoke Segmentation

Grade (Anode, Needle)

The anode segment in the calcined petcoke market is estimated to gain a robust revenue share of 55% in the coming years. Anode-grade pet coke also known as raw pet coke (RPC) or green pet coke (GPC) is low in metals and sulfur and needs to be calcined before being baked into anodes. For instance, Anode-grade petcoke is usually a green, calcinable petcoke with over 2% sulfur, little ash, and very little metal content. Calcined petcoke (CPC) is created by heating anode-grade petcoke below its melting point to remove moisture and volatile materials therefore it has low metal concentration and is a product of low quality that contains a lot of carbon. Moreover, the majority of anode-grade petroleum coke has relatively few contaminants, as a result of which it burns cleaner than other fuels and has good abrasion resistance.

Additionally, needle coke is a premium grade calcined substance with needle-like crystals that is electrode grade and is used to make graphitized products.  The majority of needle-calcined petroleum coke has a high carbon content and relatively few impurities, such as sulfur which makes it suitable for being utilized in many different processes, including the production of graphite electrodes for electric arc furnaces in the steel industry. Furthermore, it offers distinct wear and friction characteristics because of its well-developed layer structure which may also be advantageous in situations where softer, higher-purity calcined petroleum coke is needed.

End-User (Carburizing & Recarburizing, Electric Arc & Induction Furnaces)

The electric arc & induction furnaces segment in the calcined petcoke market is set to garner a notable share shortly. Calcined petroleum coke is a high-purity solid carbonaceous material that is used to make electrodes utilized in the construction of electric and induction furnaces. For instance, the calcined pet coke used to make graphite electrodes is made in a forging smelting furnace at a temperature of over 1400°C, with a carbon content of roughly 98%.

Moreover, an electrode is an apparatus to carry electricity into an electric arc furnace and is primarily used for the steel production process. Additionally, electric arc furnaces are primarily used to melt or extract ferrous or non-ferrous metals and can also be used to smelt steels, such as special tool steel, aviation steel, stainless steel, and others, as they require tight chemical composition and good mechanical performance.

Furthermore, petroleum coke that has been calcined is frequently used in the carburizing and recarburizing process to balance the carbon level when making steel as it has higher carbon content and lower grade of coke.

Our in-depth analysis of the global calcined petcoke market includes the following segments:

          End-User

  • Carburizing & Recarburizing
  • Electric Arc & Induction Furnaces

          Grade

  • Anode
  • Needle

          Application

  • Aluminum
  • TiO2
  •  Steel
  •  Paint & Coatings
  •  Fertilizers
  •  Metals

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Calcined Petcoke Industry - Regional Synopsis

APAC Market Forecast

Calcined petcoke market in Asia Pacific is predicted to account for the largest share of 48% by 2036 impelled by the increasing construction sector. With the active backing of the government, India is expected to emerge as the third-largest building market within the next two to three years. Particularly, in 2023, the construction sector in India is projected to grow significantly and contribute over 11% of the country's GDP. For instance, as long as the private and public sectors continue to receive funding, the Indian construction industry is predicted to generate over USD 1 trillion in revenue by 2025.

North American Market Statistics

The North America calcined petcoke market is estimated to be the second largest, during the forecast timeframe led by the growing output of metal and steel. For instance, The US's output of steel and metals is predicted to rise by more than 4% in the current year, following a very strong growth rate in 2021. Particularly, in October 2023, the United States steel production reached over 6700 thousand tons.

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Calcined Petcoke Market Size
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Companies Dominating the Calcined Petcoke Landscape

top-features-companies
    • Indian Oil Corporation Ltd.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Rain Industries Limited
    • NingXia Wanboda Carbons and Graphite
    • India Carbon Limited
    • Weifang Lianxing New Material Technology Co., Ltd.
    • Aluminium Bahrain
    • Oxbow Corporation
    • Shandong Zhongyang New Material Technology Co., LTD.
    • Emirates Global Aluminium (EGA)
    • EIG Global Energy Partners

In-the-news

In The News

  • Emirates Global Aluminium (EGA) partnered with British oil and gas firm BP p.l.c. to find and create ways to lower the amount of carbon dioxide produced and optimize the quality and emissions of the calcined petroleum coke it obtains from different suppliers.
  • EIG Global Energy Partners together with Novonor and Brazilian Development Bank (BNDES) acquired Ocyan Participações (Ocyan), a Brazilian oil and gas solutions provider to create new opportunities and lead Ocyan into a new stage of development.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5520
  • Published Date: Jan 08, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing production of crude oil across the globe and the growing government initiatives to create a green environment are the major factors driving the growth of the market.

The market size of calcined petcoke is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2024-2036.

The major players in the market are Rain Industries Limited, NingXia Wanboda Carbons and Graphite, India Carbon Limited, Weifang Lianxing New Material Technology Co., Ltd., Aluminium Bahrain, Oxbow Corporation, Shandong Zhongyang New Material Technology Co., LTD., and others.

The anode segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Calcined Petcoke Market Report Scope
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