Research Nester’s recent market research analysis on “Calcined Petcoke Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global calcined petcoke market in terms of market segmentation by grade, end-user, application, and by region.
Growing Metal Industry to Promote Global Market Share of Calcined Petcoke
The global calcined petcoke market is estimated to grow majorly on account of the increasing demand for calcined petcoke from the metal industry. The metal industry has grown as a result of several factors including increasing investment in R&D. For instance, by 2029, it is anticipated that the global metal fabrication market will have grown from around USD 79610 million in 2023 to over USD 95730 million. As a result, the demand for calcined petcoked is expected to rise as it is used to melt aluminum for the production of unique high-carbon steel, as well as to produce a range of carbon and graphite products.
Some of the major growth factors and challenges that are associated with the growth of the global calcined petcoke market are:
Growth Drivers:
- Surge in Environmental Concerns Across the Globe
- Rising Mining Industry
Challenges:
The ban on coal mining and the stringent regulations developed by the government of nations worldwide to protect the environment are some of the major factors anticipated to hamper the global market size of calcined petcoke. Due to the coal mining industry's long history of serious negative environmental repercussions, many countries are moving away from coal use which is said to negatively affect the growth of the market for calcined petroleum coke (CPC), which is also made from coal.
Access our detailed report at: https://www.researchnester.com/reports/calcined-petcoke-market/5520
By grade, the global calcined petcoke market is segmented into anode and needle. The anode segment is to garner the highest revenue by the end of 2036 by growing at a significant CAGR over the forecast period. Anode-grade pet coke, sometimes referred to as raw pet coke (RPC) or green pet coke (GPC), has a sulfur level of about 2%, minimal ash, and very low metal content that is produced by heating to eliminate moisture and volatile impurities, which helps it burn cleaner. In addition, needle pet coke with needle-like crystals is utilized to create graphitized products as it has a high carbon concentration and comparatively low levels of impurities, including sulfur. Moreover, its well-developed layer structure also gives it unique wear and friction characteristics.
Additionally, by end-user the electric arc & induction furnaces segment is anticipated to garner noteworthy revenue. Calcined petroleum coke, is used to manufacture electrodes a device that feeds electricity into an electric arc furnace, and is mainly utilized in the steel manufacturing industry. Furthermore, calcined petroleum coke is commonly used in the carburizing and recarburizing process to balance the carbon level while creating steel.
By region, the Europe calcined petcoke market is to generate the highest revenue by the end of 2036. This growth is anticipated by the growing focus on sustainability in the region. The Treaty on the European Union places great emphasis on the concept of sustainable development, with programs and legislation aimed at lowering greenhouse gas emissions. Through the European Green Deal, the European Union hopes to establish a sustainable Europe by reducing net greenhouse gas emissions by more than 50% by modifying its energy, transportation, climate, and taxation policies. Moreover, the Commission introduced the European Green Deal in December 2019 which seeks to put the EU on the route to a green transition that will present several benefits, including the possibility of economic expansion, the creation of new markets and business models, the creation of new jobs, and the advancement of technology. All these factors are expected to drive the demand for calcined petcoke a high-quality carbon material produced by calcining green petroleum coke in the region.
Additionally, excluding the UK, the EU produced over 342 thousand barrels of oil per day in 2022. Moreover, Russia is the largest oil producer in Europe and possesses the world's eighth-largest oil reserves. As a result, the demand for calcined petcoke is expected to rise in the region.
This report also provides the existing competitive scenario of some of the key players of the global calcined petcoke market which includes company profiling of 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.
