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Calcined Petroleum Coke Market Size, Trends & Forecast |
Calcined Petroleum Coke Market Insights
Calcined Petroleum Coke Market size was valued at USD 39.15 billion in and is poised to grow from USD 51.66 billion in to USD 75.3 billion by , growing at a CAGR of 6.9% in the forecast period (-).
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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 to 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.
The primary reason for the growth of the global calcined petroleum coke market is an increase in construction spending coupled with a rise in the demand for pre-engineered buildings (PEB), particularly in the growing economies of Asia Pacific, including China, India, Japan, and Thailand among others. Over the projected period, economic growth and population growth in these economies are anticipated to have a further positive impact on the development of the global calcined petroleum coke market.
Nearly every business has been severely impacted by the COVID-19 epidemic, but the worldwide oil and gas sector may have taken the worst blow. Many oil and gas businesses have been forced by the virus's spread to scale back or stop their physical activities, which has had an impact on both upstream and downstream operations as well as output. Similar to the calcined petroleum coke, which was negatively impacted because it is a byproduct of petroleum and the oil and gas sector was not operating as it should. Lockdowns and instructions to stay at home caused a 10% drop in oil consumption in March and a 30% drop in April.
The International Energy Agency (IEA) predicts a 6-10% decline in demand in or a loss of 9.3 million barrels per day (bpd). Return to levels is not anticipated any time soon, even when limitations are relaxed and nations start to reopen. Demand fell by historic amounts as a result of COVID-19, and Saudi Arabia and Russia's pricing war led to a slump in crude oil prices. When the epidemic reached its height in Asia in early March, OPEC opened its taps, dumping cheap oil on the world. Despite a 28 million bpd decline in global demand, this persisted into April as OPEC raised output by 2.3 million bpd. The suspension of manufacturing is also anticipated to impede the global calcined petroleum coke market.
US Calcined Petroleum Coke Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - -
Global Market Size
USD 39.15 billion
Largest Segment
Anode Grade
Fastest Growth
Anode Grade
Growth Rate
6.9% CAGR
Global Calcined Petroleum Coke Market - ($ Bn)
Country Share for Asia Pacific Region- (%)
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Calcined Petroleum Coke Market Segmental Analysis
Global calcined petroleum coke market is segmented based on the type, end-user, and region. Based on type, global calcined petroleum coke market is segmented into anode grade and needle grade. Based on end-user, global calcined petroleum coke market is segmented into carburizing & recarburizing electric arc & induction furnaces, and others. Based on region, Calcined Petroleum Coke Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Calcined Petroleum Coke Market Analysis by Type
Due to its outstanding physical and electrical conductivity, the anode grade sector had the greatest share of the global calcined petroleum coke market. A product with a high carbon concentration is called anode grade. As refineries in key producing countries approach the autumn maintenance season, the price of anode-grade green petroleum coke (GPC) is projected to increase throughout the remainder of . China is the world's largest producer of anode-grade coke, with around 22 million t/yr of green coke production capacity at state-owned refiner Sinopec alone. Only around 60% of this capacity is really being used by the refinery. Another significant source of anode-grade GPC for China and the US Gulf is South America. However, the International Maritime Organization restrictions regulating bunker sulphur limits that went into effect at the beginning of the year have made it more difficult to generate coke there, in addition to the interruptions caused by Covid.
India's calcium market has been impacted by China's competitive environment. However, dealing with decreased GPC quantities and shifting quality standards is nothing new in this business. As it has done with prior supply movements, the business will be able to minimize these fluctuations in supply by making purchases from many geographic areas and collaborating closely with its smelter clients. This is expected to boost the growth of the global calcined petroleum coke market during the forecast period.
Calcined Petroleum Coke Market Analysis by End User
The global calcined petroleum coke market's largest share was accounted for by the sector of electric arc and induction furnaces. Calcined petroleum coke is used to make the electrodes used in the construction of electric and induction furnaces. These furnaces are frequently employed in the production of steel, the rapid growth of the steel industry is boosting this segment and will continue to do so during the forecast period. For example, the All India Induction Furnaces Association (AIIFA), the country's leading association for electric induction furnace manufacturers, represents a significant portion of the steel production facilities using this method. All fifty states in the US are home to more than induction furnace units and more than steel rolling mill units. Around 27 percent of the nation's domestic crude steel production'30 million tonnes (MT)'is produced by these mills each year.
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Furthermore, the Department of Heavy Industries announced the launch of the Samarth Udyog Bharat 4.0 initiative in with the goal of accelerating the adoption of innovative technologies and process automation to expand the manufacturing sector across India by the end of , according to the India Brand Equity Foundation (IBEF). Numerous efforts are anticipated to increase demand in the market since induction furnaces help reduce metal melting times and boost productivity throughout the metallurgy and metal-producing sectors.
Global Calcined Petroleum Coke Market By Type (%)
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Calcined Petroleum Coke Market Regional Insights
In , Asia-Pacific accounted for a majority of global calcined petroleum coke market owing to the region's increased investment in infrastructure projects in nations like China, India, and Singapore. Additionally, the increase in population is driving up the demand for new residential and commercial infrastructure. For example, in India, the government is always attempting to improve India's infrastructure. Additionally, Budget gave infrastructure development a boost to increase expenditure on roads, highways, railroads, airports, and ports. The government designated over projects under the National Infrastructure Pipeline (NIP) to create a $5 trillion economy by , allocating over 103 lakh crores for infrastructure projects.
Furthermore, in , the Indian government announced an investment of INR 6,920 billion to build 83,677 km of roads over the next five years. The new FY budget also includes funds for expedited road and highway development. ICRA expects that road improvements will be completed in around Km, which is 10% less than the previous year owing to the impact of COVID-19. However, toll collections on national roads increased to 87 percent of pre-COVID levels in the second half of July , indicating a recovery that is still in its early stages. Increased investment in constructing roads and highways raises the demand for labor, mining equipment, and other resources, which helps put money into the hands of the general public.
According to estimates, the U.S. exports more calcined petcoke than any other country. In December , 2,096,496 metric tonnes of petcoke were exported from Delaware, Louisiana, Mississippi, Texas, and Virginia combined. This number exceeds December by 192,244 MT, overall exports were 100,213 MT more than the 12-month average, and petcoke exports for December were 193,974 MT higher than the 6-month average, representing a 30% rise from November . Since a sizable amount of electricity may be produced at an affordable rate, the cheap cost of calcined petroleum coke is anticipated to be a key draw for its import. This will help the North American region to observe significant growth during the forecast period in the global calcined petroleum coke market.
Global Calcined Petroleum Coke Market By Geography, -, -
- Largest
- Fastest
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Calcined Petroleum Coke Market Dynamics
Calcined Petroleum Coke Market Driver
- Due to the expanding steel sector, advancements in the cement and power generation industries, expansion in the supply of heavy oils, and supportive government activities addressing the environment, demand for calcined coke is fast increasing on a global scale. The production of electrodes for use in electric arc and induction furnaces in the metal industry uses calcined petroleum coke extensively.
- Over the projected period, the demand for the product is anticipated to be impacted by the rising imports and exports around the world. It is anticipated that increasing steel output in the Middle East, Africa, and Asia Pacific would have an impact on the demand for CPC. In addition, it is anticipated that the growing economies of China and India, which are both urbanizing and industrializing quickly, would propel market expansion.
Calcined Petroleum Coke Market Restraint
- Since crude oil distillates and residues are the main sources for calcined petroleum coke obtained from the petroleum sector, the prohibition on coal mining is anticipated to hinder the supply, leading to a supply constraint in the industry. Similar effects of crude oil price fluctuations on petroleum coke pricing have occasionally caused producers to suffer unanticipated losses. This may prove to be a barrier to the global calcined petroleum coke market expansion.
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Calcined Petroleum Coke Market Competitive Landscape
The global calcined petroleum coke market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. For example, for '66.6 million, Oxbow Carbon LLC (Oxbow) announced that it has successfully acquired 50.1 percent of OVET Holding B.V. (OVET) from H.E.S. Beheer N.V. (HES). Southwest Netherlands' Terneuzen and Flushing dry bulk terminals are owned and managed by OVET. Additionally, OVET owns a 50% stake in OBA Group B.V. (OBA), which runs the OBA dry bulk port in Amsterdam, the Netherlands. Steam coal, coking coal, petroleum coke, anthracite, agribulk, minerals, biomass, and other solid bulk goods are handled at the OVET and OBA terminals, mostly for usage in the Netherlands, Germany, Belgium, and France. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions.
Top Players in the Global Calcined Petroleum Coke Market
- Oxbow Corporation
- Rain Carbon Inc
- Petrobras
- ExxonMobil Corporation
- Saudi Arabian Oil Company (Aramco)
- BP plc
- Indian Oil Corporation Ltd.
- Essar Oil Ltd.
- Phillips 66 Company
- Chevron Corporation
- Reliance Industries Limited
- Royal Dutch Shell plc
- Valero Energy Corporation
- Sinoway Carbon Co. Ltd.
- Goyal MG Gases Pvt. Ltd.
- Atha Group
- Goa Carbon Limited
- Mitsubishi Chemical Corporation
- Nippon Coke & Engineering Company, Ltd.
- China Petroleum & Chemical Corporation (Sinopec)
Calcined Petroleum Coke Market Recent Developments
- In May , 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 orders received. The Oman-based Jindal Shadeed Iron & Steel LLC will receive pellets from the pellet facility.
- In May , 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.
Calcined Petroleum Coke Key Market Trends
- The global calcined pet coke market is anticipated to increase as possibilities in the end use sector expand. Strong prospects for the market are anticipated to arise in the near future as a result of industry growth in areas such as paints & coatings, steel, fertilizer, etc. To meet worldwide demand and raise their market share as much as possible, major companies in the calcined pet coke market are preparing to expand their production capabilities.
- To increase their worldwide reach, the major manufacturers are also interested in forming a long-term collaboration with direct end consumers. According to the value chain network, effective supply is seen to be important, and smart partnerships with end-use businesses and distributors can result in steady sales.
Calcined Petroleum Coke Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global calcined petroleum coke market analysis, in terms of type, due to its outstanding physical and electrical conductivity, the anode grade sector had the greatest share of the global calcined petroleum coke market. Based on end-use, the electric and induction furnaces segment held the largest share in the global calcined petroleum coke market as these furnaces are frequently employed in the production of steel, the rapid growth of the steel industry is boosting this segment and will continue to do so during the forecast period. And by region, the Asia-Pacific region held the largest share in the global calcined petroleum coke market because of the region's increased investment in infrastructure projects in nations like China, India, and Singapore. Additionally, the increase in population is driving up the demand for new residential and commercial infrastructure.
Report Metric Details Market size value in USD 39.15 billion Market size value in USD 75.3 billion Growth Rate 6.9% Base year Forecast period - Forecast Unit (Value) USD Billion Segments covered- Type
- Anode Grade, Needle Grade
- End Use
- Carburizing & Recarburizing Electric Arc & Induction Furnaces, Others
- Oxbow Corporation
- Rain Carbon Inc
- Petrobras
- ExxonMobil Corporation
- Saudi Arabian Oil Company (Aramco)
- BP plc
- Indian Oil Corporation Ltd.
- Essar Oil Ltd.
- Phillips 66 Company
- Chevron Corporation
- Reliance Industries Limited
- Royal Dutch Shell plc
- Valero Energy Corporation
- Sinoway Carbon Co. Ltd.
- Goyal MG Gases Pvt. Ltd.
- Atha Group
- Goa Carbon Limited
- Mitsubishi Chemical Corporation
- Nippon Coke & Engineering Company, Ltd.
- China Petroleum & Chemical Corporation (Sinopec)
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Pet coke calcined price index
Pet coke ' calcined price index
This post is a summary of the petroleum coke ' calcined price developments. The price developments of pet coke are expressed in US$ prices converted FX rates applicable at the time when the price was valid. Petroleum coke ' calcined price index developments are calculated from multiple separate sources of data to ensure statistical accuracy.
The outlook for petroleum coke ' calcined prices, on the second tab, is generated from different inputs including:
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- Very recent price developments of immediate cost drivers of petroleum coke ' calcined prices
- Recent price developments of underlying feedstocks which drive the price of petroleum coke ' calcined
- Market futures for both cost drives and feedstocks of petroleum coke ' calcined prices
- Adjustment of current supply/demand imbalances in the petroleum coke ' calcined market
- Longer term trends in likely demand conditions
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