Calcined Petroleum Coke Market Growth (USD 49 Bn by 2033 at 5.7% CAGR) Global Analysis by Market.us

Introduction

The global calcined petroleum coke market is projected to grow significantly, with its market size expected to increase from USD 28 billion in 2023 to USD 49 billion by 2033, at a CAGR of 5.7% during the forecast period from 2023 to 2033. This growth is primarily driven by the expanding aluminum industry, which uses calcined petroleum coke (CPC) extensively in the production of carbon anodes necessary for aluminum smelting.

However, the market faces challenges such as fluctuating raw material prices and environmental concerns associated with CPC production. These fluctuations are often due to geopolitical tensions and supply chain disruptions, which can impact the availability and cost of raw materials needed for CPC production. Environmental regulations regarding the carbon footprint of industries also pose significant challenges, pushing manufacturers to adopt cleaner production technologies.

Recent developments in the market include advancements in production technologies aimed at reducing emissions and improving the efficiency of CPC production.
The calcined petroleum coke (CPC) market has witnessed several significant developments involving major players such as Oxbow Corporation, Aluminium Bahrain, Rain Industries Limited, and Graphite India Limited.

Oxbow Corporation continues to be a key player in the CPC market, leveraging its global network and advanced production capabilities. The company recently expanded its production capacity to meet the increasing demand for high-quality calcined petroleum coke. This expansion is aimed at enhancing supply chain efficiency and ensuring a steady supply of CPC for its clients worldwide.

Aluminium Bahrain (Alba), a leading aluminum producer, has made strategic advancements to secure a stable supply of CPC, which is critical for its aluminum smelting processes. Alba signed a long-term agreement with major suppliers to ensure the consistent availability of CPC, aligning with its operational needs and expansion plans. This move is expected to strengthen Alba’s production capabilities and support its position as a top aluminum producer​.

Rain Industries Limited has focused on increasing its footprint in the CPC market through strategic acquisitions and capacity expansions. The company recently acquired a calcination plant in the United States, enhancing its production capacity and enabling better service to its North American customers. This acquisition is part of Rain Industries’ broader strategy to expand its global presence and improve operational efficiency.

Graphite India Limited has also been active in the CPC market, particularly focusing on technological upgrades and capacity expansions. The company invested in state-of-the-art technology to improve the quality and consistency of its CPC products. Additionally, Graphite India is exploring new markets and applications for CPC, aiming to diversify its customer base and reduce dependency on traditional markets.

Key Takeaways :

• Market Size Projection: The calcined petroleum coke market is expected to grow from USD 28 billion in 2023 to USD 49 billion by 2033, with an annual growth rate of 5.7%.
• Dominant Types: Needle coke is expected to hold over 34.75% of the market share in 2024 due to its high thermal conductivity, making it valuable in various applications.
• Primary Application: The metals industry is the largest user of calcined petroleum coke, holding over 45.4% of the market share in 2024. It uses this material as a carbon additive.
• Regional Analysis: The Asia Pacific region is projected to have the largest market share at 48%, followed by North America and Europe.
• Grade: Anode-grade Coke is expected to dominate, capturing more than 76.4% of the market. This type is extensively used in aluminum production for making carbon anodes.
• Global Demand in 2024: The worldwide demand for calcined petroleum coke is projected to be around 142 million metric tons.

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Statistics

• In 2022, Petroleum coke, calcined was the world’s 645th most traded product, with a total trade of $6.02B. Between 2021 and 2022 the exports of Petroleum coke, calcined grew by 59.7%, from $3.77B to $6.02B. Trade in Petroleum coke, calcined represents 0.025% of total world trade.
• In 2022 the top exporters of Petroleum coke, calcined were the United States ($2.28B), China ($1.25B), the United Kingdom ($385M), Brazil ($308M), and Kuwait ($228M).
• With a global market size skyrocketing from USD 16.4 billion in 2016 to a projected USD 25.6 billion by 2025, growing at a fiery 5.1% CAGR, it’s clear that this industry means serious business. China leads the charge, consuming over 50% of the market share, while India isn’t far behind at 30%.
• India is the second-largest consumer of calcined pet coke, with a market share of around 30%. Aluminum industry is the major end-use segment for calcined petcoke, constituting over 60% of the market share.
• aluminum industry is the real VIP of the party, claiming over 60% of the market share and leaving the likes of steel to nibble on the leftovers.
• The Petroleum Coke price in the United States increased during April 2019 to 76 USD per metric ton, which represents a considerable rise of 13% compared to the previous month’s value. On a year-over-year basis, Petroleum Coke prices in the United States increased by 7%.
• The price of Petroleum Coke in Colombia declined throughout April 2019, reaching 49 USD per metric ton. The price in Colombia is 5% lower than the average price in the previous month and 34% lower than the average price one year before.
• In contrast, Petroleum Coke prices in Canada increased significantly during April 2019, reaching 371 USD per metric ton, which means a rise of 12% from the previous month’s price and a rise of 3% from the previous year’s price.
• Petroleum Coke prices in Chile experienced a significant rise of 21 USD per metric ton from the previous month’s price to 106 USD per metric ton. Such price movement in Chile meant a rise of 24% every month and a decrease of 6% every year.
• On the other hand, in April 2019, the Petroleum Coke price in Mexico witnessed a decline of 2 USD per metric ton when compared against the previous month’s price, to 75 USD per metric ton. The April 2019 price in Mexico is 21% lower than the price one year before.
• The results showed that mixing the 10% petroleum coke residue and 40% blast furnace slag would be most appropriate to replace the cement in concrete, thus the effective utilization of mineral admixtures and coke residue in concrete without strength loss could be realized.
• The Sulphur content of petroleum coke is as high as 5–8%, which is not suitable for use as a raw material for chemical and metallurgical industries with high-quality requirements.
• With the CaO from high-temperature decomposition of limestone reacted with SO2 from the combustion of petroleum coke to form the CaSO4, the desulfurization efficiency can reach up to 90%.
• The upper limit of fly ash’s effective replacement ratio in concrete is 40% based on the previous research, combining it with 10% coke residue is likely to further improve the strength because of its twice hydration and micro-aggregate effect.
• The maximum replacement ratio of II-level fly ash in concrete is regarded as 50% in China according to the national standard “Fly Ash Used in Concrete and Cement.
• Chemistry: Most petcoke consists of carbon 85~99%, and hydrogen in concentrations between 3.0- 4.0%. Raw (or green) coke contains 0.5-1% nitrogen and 0.2- 6.0% sulfur, which become emissions when coke is Calcined.
• Moisture: The moisture content within the Petroleum coke particles varies with the mining place; it may range from under 1% to over 10%.
• Sulfur Content: Petcoke sulfur content can vary from 0.2% to 6%, depending on the type of petcoke and the refining process used.
• The total metal content is typically less than 0.5%. The metals in Petcoke are aluminum, cobalt, iron, chromium, calcium, and others.
• Fixed Carbon: Petcoke’s selected carbon content is typically more than 85% and can be as high as 99%.
• higher sulfur petroleum coke is often used in cement kilns or fluidized bed boilers, both of which inherently capture at least 90% of fuel sulfur content. On the other hand, lower-sulfur petroleum coke is often used in industrial processes that do not inherently capture fuel sulfur and may not have SO2 emission control equipment.
• A ferronickel product of 1.98wt% nickel and 87.98wt% iron was obtained with 20wt% petroleum coke when the roasting temperature and time was 1250°C and 60 min
  The corresponding recoveries of nickel and total iron were 99.54wt% and 95.59wt%.
• For the steel-making industry, the most suitable carbon additive is calcined petroleum coke with a fixed carbon of 98.5%min.
• Global petcoke production reached 140 million metric tons in 2019, increasing 45 % during the previous decade. Notably, Mexico is upgrading its deep refining capacity, projecting a 70 % rise in petcoke production over the next decade.
• According to India customs data on petroleum coke, the country exported petroleum coke the most to the United Arab Emirates in the financial year 2015-16. UAE recorded a 55.4% share in the value of this product.
• PCCL IPO, a book-built issue amounting to ₹113.16 crores, consisting entirely of an Offer for Sale of 66.17 lakh shares. The subscription period for the PCCL IPO opens on June 25, 2024, and closes on June 27, 2024.
• The price band of the PCCL IPO is set at ₹162 to ₹171 equity per share, with a minimum lot size of 800 shares. Retail investors are required to invest a minimum of ₹136,800, while the minimum investment for High-Net-Worth Individuals (HNIs) is 2 lots (1600 shares), amounting to ₹273,600.
• of plastic goods has caused an abundance of waste plastic globally where only 60 % of waste plastics are incinerated or buried in landfill.
• Statistics have reported that total global plastic production has increased by an average of almost 10 % annually since 1950. The total plastic production has grown from around 1.5 million tons (MT) in 1950 to 322 MT in 2015 globally.

Emerging Trends

• The calcined petroleum coke (CPC) market is experiencing notable trends driven by various industry needs and technological advancements. One key trend is the rising demand from the aluminum industry. As the automotive and aerospace sectors push for lighter materials to improve fuel efficiency and reduce emissions, aluminum production is booming. CPC, a critical material in aluminum production, is seeing increased demand.
• Rising Demand in the Aluminum Industry: The aluminum industry remains a major consumer of calcined petroleum coke, accounting for a significant share of the market. The increasing demand for lightweight and durable materials in the automotive and aerospace sectors is boosting the demand for aluminum, thereby driving the growth of the calcined petroleum coke market.
• Regional Growth: The Asia-Pacific region is expected to dominate the calcined petroleum coke market, with a projected market share of around 48%. This growth is attributed to the rapid industrialization and urbanization in countries like China and India. The region’s expanding aluminum and steel industries are major contributors to the increased demand for calcined petroleum coke.
• Market Consolidation: The market is experiencing consolidation through mergers and acquisitions. Major players such as Oxbow Corporation, Rain Industries, and Aluminium Bahrain are expanding their market presence and enhancing their production capacities through strategic acquisitions and partnerships.

Use Case

• Aluminum Production: Calcined petroleum coke (CPC) is a critical material in aluminum smelting. It is used as a carbon source in the production of aluminum anodes, which are essential for electrolysis in aluminum production. With the global aluminum production projected to reach approximately 66 million metric tons by 2026, CPC’s role remains indispensable. Key suppliers like Oxbow Corporation and Aluminium Bahrain are pivotal in meeting this demand.
• Steel Manufacturing: CPC is utilized in steel production as a key ingredient in the production of electrodes for electric arc furnaces. The steel industry’s demand for CPC is driven by the need for high-purity carbon materials to ensure efficient and high-quality steel production. As the global steel output is expected to surpass 1.8 billion metric tons by 2025, CPC’s importance in this sector continues to grow.
• Battery Manufacturing: The rise in electric vehicle (EV) adoption is increasing the demand for CPC in battery manufacturing, particularly in the production of battery anodes. CPC’s high conductivity and stability make it suitable for this application. With the EV market expected to grow at a CAGR of 22% from 2024 to 2030, the demand for CPC in battery applications is projected to rise accordingly.

Key Players Analysis

Oxbow Corporation is a major player in the calcined petroleum coke (CPC) market. The company processes green petroleum coke into CPC, a high-carbon material used extensively in aluminum production, steel manufacturing, and other industries. Oxbow’s operations focus on upgrading and marketing petcoke efficiently and sustainably.

Aluminium Bahrain (Alba) is a leading producer of aluminum in the Middle East and heavily relies on calcined petroleum coke for its production processes. Alba sources CPC to use as an essential raw material in the production of carbon anodes, which are crucial for the electrolysis process in aluminum manufacturing.

Rain Industries Limited is a prominent player in the calcined petroleum coke (CPC) sector, known for its extensive production capacity and global reach. The company operates several CPC production facilities, contributing significantly to the global market. Rain Industries focuses on high-quality CPC production, catering to the aluminum and steel industries. With ongoing investments in technology and capacity expansion, the company aims to strengthen its market position.

Aminco is a key player in the calcined petroleum coke (CPC) industry, focusing on producing high-quality CPC used in aluminum smelting and steel manufacturing. The company emphasizes high-grade products with low sulfur content, catering to the growing demand for better-performing CPC in various industrial applications. Aminco’s strategic efforts include investing in advanced production technologies to enhance product quality and efficiency.

Asbury Carbons Inc. in the Calcined Petroleum Coke Sector: Asbury Carbons Inc. is a prominent supplier in the calcined petroleum coke market, known for its extensive range of CPC products used in diverse industrial processes, including aluminum and steel production. The company leverages its deep expertise and global network to deliver high-quality CPC with consistent performance. Asbury Carbons is committed to sustainability and innovation, focusing on enhancing product properties and expanding its market reach.

Atha Group is a significant player in the calcined petroleum coke (CPC) sector, specializing in the production and supply of high-quality CPC. The company is known for its focus on technological advancements and efficient production processes, ensuring consistent quality. Atha Group operates multiple CPC production facilities, catering to various industries such as aluminum and steel manufacturing.

Carbograf Industrial S.A. is a prominent producer of calcined petroleum coke (CPC), serving global markets with high-quality products. The company emphasizes advanced production techniques to meet the stringent requirements of its clients, particularly in the aluminum and steel industries. Carbograf’s focus on operational efficiency and quality control underpins its strong position in the CPC market.

Goa Carbon Limited is a key player in the calcined petroleum coke (CPC) market in India. The company operates one of the largest CPC plants in the country, providing high-quality CPC for the aluminum and steel industries. Goa Carbon Limited has a strong market presence due to its consistent product quality and significant production capacity. The company’s growth is driven by rising demand in the aluminum sector and increasing industrial activities.

Minmat Ferro Alloys Pvt Ltd is involved in the calcined petroleum coke sector, focusing on producing CPC for various industrial applications. The company is known for its high-quality CPC, which supports industries like aluminum and steel manufacturing. Minmat Ferro Alloys is expanding its market footprint through increased production capabilities and strategic partnerships. The company’s growth is supported by rising industrial demand and its commitment to product excellence.

Keyu Energy Co.: is a notable player in the calcined petroleum coke (CPC) market, primarily focusing on the production and supply of high-quality CPC for use in aluminum and steel manufacturing. Known for its advanced processing technologies, the company ensures a consistent supply of CPC that meets stringent industry standards. Keyu Energy Co. has positioned itself as a reliable supplier in the market, leveraging its state-of-the-art facilities and strategic partnerships.

Maniyar Group is a significant entity in the calcined petroleum coke sector, specializing in the production and distribution of CPC used in various industrial applications. The group is recognized for its commitment to quality and innovation, offering CPC that caters to the needs of major industries such as aluminum smelting and steel production. Maniyar Group’s strategic operations and quality control measures contribute to its strong market presence.

Conclusion

The calcined petroleum coke (CPC) market is experiencing steady growth, driven by increased demand from industries like aluminum, steel, and batteries. As global industrial activities expand and the need for high-quality carbon materials rises, CPC remains crucial due to its unique properties and performance.

Major players in the market, such as Oxbow Corporation and Aluminium Bahrain, are investing in advanced technologies and capacity expansions to meet this demand. Despite challenges like fluctuating raw material prices and environmental regulations, the market outlook remains positive, supported by ongoing innovations and strategic industry developments.

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