Global Calcined Petroleum Coke Market Size, Share, Growth Analysis, By Type(Anode Grade, Needle Grade), By End Use(Carburizing & Recarburizing Electric Arc & Induction Furnaces, Others) - Industry Forecast 2022-2028

Global Calcined Petroleum Coke Market size was valued at USD 39.15 billion in 2021 and is poised to grow from USD 51.66 billion in 2022 to USD 75.3 billion by 2030, growing at a CAGR of 6.9% in the forecast period (2023-2030).

The global calcined petroleum coke market is expected to witness a significant growth during the forecast period, owing to the increasing demand for the product across various industries. Calcined petroleum coke is a high purity carbon material produced by heating green petroleum coke to drive off moisture, volatile matter, and impurities, and is used as a raw material in the production of electrodes, steel, and aluminum. Factors such as the growing steel industry, rising demand for aluminum, and increasing usage of graphite electrodes in electric arc furnaces are expected to drive the market growth.

Top-down and bottom-up approaches were used to estimate and validate the size of Calcined Petroleum Coke market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report

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.

Driver

During the expected timeframe, the demand for the product is predicted to be influenced by the escalating levels of international trade. The rise in steel production in the Middle East, Africa, and Asia Pacific is expected to have an effect on the demand for CPC. Furthermore, the rapid urbanization and industrialization of China and India, both of which have growing economies, are expected to drive market growth. It is important to note that proper citation and referencing should be used when utilizing information from external sources to avoid plagiarism.

Restrain

The ban on coal mining is expected to create a supply constraint in the calcined petroleum coke industry since the primary sources of this material are crude oil distillates and residues obtained from the petroleum sector. The pricing of petroleum coke has been subject to fluctuations in crude oil prices, leading to unexpected losses for producers. This could impede the growth of the global calcined petroleum coke market.

Trend

The calcined pet coke industry is expected to experience growth as the demand in the end-use sector continues to expand. Promising opportunities are expected to emerge in the near future, driven by the growth of various industries such as paints & coatings, steel, fertilizer, among others. Leading companies in the market are gearing up to increase their production capacity to meet the rising global demand and capture a larger market share.