Calcined Petcoke Market Higher Growth Rate and Forecast 2018 - 2028 | Oxbow Corporation
Key drivers for the global calcined petcoke market include rapid advancements in the power generation and cement production industries, favorable government initiatives pertaining to the green and sustainable practices to protect the environment, and growth in the supply of heavy oils across the globe. Increasing demand for pre-engineered buildings or PEBs in emerging economies in Asia Pacific region along with rising global construction spending is also anticipated to motivate the sales in the global calcined petcoke market in coming years. This trend is further supported by the population expansion and economic development in the Asia Pacific region that is stimulating high growth in the global calcined petcoke market. Rising import and export activities across the world are anticipated to positively influence the growth trajectory of the global calcined petcoke market in years to come. However, the ban on coal mining and resultant shortage in crude oil industry can hamper the development of the global calcined petcoke market in coming years.
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Fluctuating prices of the crude oil can have a powerful influence of the prices of the products in the global calcined petcoke market. These sharp rises in the product prices have created a substantial imbalance in the demand and supply in the global calcined petcoke market in recent years. It has affected the entire supply and value chain of the industry all the way from raw material suppliers to the end users in various industries. Products in the global calcined petcoke market can be applied in various application areas such as fuel, bricks and glasses, titanium dioxide, fertilizer, aluminum, paints and coatings, and steel industries. Products in the global calcined petcoke market are available in both industrial and technical grade qualities. Growing utilization of anode grade petcoke in the global calcined petcoke market for production of graphite electrodes is also projected to augment the industry growth in coming years.
Global Calcined Petcoke Market: Overview
The global calcined petcoke market has flourished noticeably from the changing demand dynamic in end-use industries. Sizeable revenues for the market come from the profuse demand from the aluminum industry, where the high purity carbon material is used in the fabrication as well as utilization of smelter anodes. Substantial demand for calcined petcoke also comes from the steel industry, where it is notably used as a recarburizing agent. Moreover, it has found in the manufacturing of titanium dioxide pigment in the chemical industries. Over the past several years, the demand in the end-use industries has changed markedly. These factors have led to the rapid evolution of the global calcined petcoke market. As a result, suppliers, world over, have been producing the petroleum coke with new chemistries to meet the wide diversity of that demand.
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Global Calcined Petcoke Market: Notable Developments
Suppliers focus on Emerging Markets to get Better Foothold
For several years, a growing number suppliers in the global calcined petcoke market shifted their attention to emerging markets. They have been active in constructing new production units in countries that can offer a robust and cost-effective supply chain. A case in point is China where prominent players benefit from the competitive pricing of high-quality and low-content sulfur calcined petcoke.
Bagging Large Projects for Construction of Production Plants in Calcined Petcoke Market helps
A prominent engineering and construction firm L&T Hydrocarbon Engineering Limited has bagged a large order from Tawfiq Coke Products, Oman for the construction of a petcoke calciner project in Sohar. The company intends to actively help in expansion of the industrial facilities in the region. Such projects of substantially high valuation will add up to the regional production of commercial calcined petcoke in the next few years.
Some of the most prominent competitors operating in the competitive landscape of global calcined petcoke market include –
Rain Industries Limited
AMINCO RESOURCES LLC.
Aluminium Bahrain B.S.C.
Global Calcined Petcoke Market: Key Growth Dynamics
Rising production of green petcoke has a direct bearing on the growth dynamics of the global calcined petcoke market. This rides on the back of ever rising demand for oil in several countries across the world. Rapid strides made by the paints and coatings industries has been spurring the demand for calcined petcoke, where the material is used in the production of TiO₂. The strides are fueled by extensive consumption of paints and coatings in end-use industries across the globe.
Extensive worldwide application in the aluminum smelter industry is also propelling the growth of the calcined petcoke market. Growing demand for a cost-effective feedstock for the steel industries is boosting the calcined petcoke market. However, the glut of oil refining output in some countries in recent years has squeezed the profits of players in the refining industry. Nevertheless, the growth will be catalyzed by the growing demand for calcined petcoke among large aluminum smelters in emerging economies, such as in India and China.
Global Calcined Petcoke Market: Regional Assessment
Some of the regions likely to occupy prominent positions in the landscape of the global calcined petcoke market are the Americas, Asia Pacific, and Europe. In particular, there has been spikes in the consumption of calcined petcoke in the U.S. and parts of Europe. However, the calcined petcoke market will see a vast attractive avenue in Asia Pacific, most notably in emerging economies of Asia. The revenues for this the Asia Pacific calcined petcoke market come majorly from the primary aluminum industry.
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