According to the new market research report “Global Calcined Petroleum Coke Market Report 2023-2029”, published by QYResearch, the global Calcined Petroleum Coke market size is projected to reach USD 13.65 billion by 2029, at a CAGR of -2.8% during the forecast period.
Figure. Global Calcined Petroleum Coke Market Size (US$ Million), 2018-2029
Calcined petroleum coke is a high-quality carbon material produced by heating green petroleum coke to remove volatile matter and impurities. It is typically used as a carbon additive in the production of aluminum, steel, and other metals. The process of calcining involves heating the green coke to temperatures of 1200 to 1400 degrees Celsius, which drives off the volatile compounds and leaves behind a relatively pure carbon material.
Figure. Global Calcined Petroleum Coke Top 14 Players Ranking and Market Share (Ranking is based on the revenue of 2022, continually updated)
The global key manufacturers of Calcined Petroleum Coke include Oxbow, Rain Industries, BP, Shandong KeYu Energy, Sinoway, Aluminium Bahrain, PetroCoque, Adnoc, Zhongyang New Material, GOA Carbon, etc. In 2022, the global top five players had a share approximately 15.0% in terms of revenue.
Market Drivers:
Aluminum Production: The primary driver for the CPC market has historically been the aluminum industry. CPC is a crucial raw material in the production of aluminum anodes, which are used in the electrolytic reduction of alumina into aluminum metal. Any increase in global aluminum demand, driven by sectors such as automotive and construction, directly impacts the need for CPC.
Metallurgical Industry: The Metallurgical Industry is another significant consumer of CPC. It is used as a recarburizer in the steelmaking process to adjust the carbon content in steel. Changes in steel production, driven by economic growth, infrastructure development, and technological advancements, can affect CPC demand.
Emerging End-User Industries: As new industries and technologies evolve, they may create additional demand for specialized CPC products. This includes not only the battery industry but also emerging applications in fields like aerospace and carbon composites.
Restraint:
Global Economic Conditions: Economic factors, such as inflation, exchange rate fluctuations, and trade tensions, can influence the cost and availability of CPC. Economic downturns can lead to reduced demand in key industries.
Volatility in Green Petroleum Coke Supply: The availability and pricing of green petroleum coke, the raw material for CPC, can be volatile. Market fluctuations, disruptions in the oil industry, and changes in supply sources can affect CPC production.
Cyclical Nature of End-Use Industries: Industries like aluminum and steel tend to be cyclical in nature, with fluctuations in demand tied to economic cycles. The CPC market must adapt to these fluctuations.
Opportunity:
Focus on Renewable Energy: The shift towards renewable energy sources, such as wind and solar power, presents opportunities for CPC producers. Calcined petroleum coke is used in the production of anodes for the manufacturing of batteries used in renewable energy storage systems. As the demand for renewable energy technologies continues to grow, particularly in response to environmental concerns and government incentives, the demand for CPC for battery production is expected to increase, providing a new market opportunity for CPC manufacturers.
Technological Advancements and Process Optimization: Innovations in production processes and technologies offer opportunities to improve the efficiency and quality of CPC manufacturing. Adopting advanced calcination techniques, such as rotary kilns or fluidized bed reactors, can enhance product quality and reduce production costs. Additionally, investments in research and development to develop alternative raw materials or sustainable production methods can help CPC producers stay competitive and capture new market opportunities.
About The Authors
| Jiquan Zhai - Lead Author |
| Email: zhaijiquan@qyresearch.com |
| Tel: 17319264309 |
About QYResearch
QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 16 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.
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