Authored By: Sarah
14 Feb 2025

Green Petroleum Coke and Calcined Petroleum Coke Market Overview 2024-2028

The green petroleum coke and calcined petroleum coke market is projected to grow by USD 11.58 billion between 2023 and 2028, at a CAGR of 6.78%. The demand is primarily driven by the rising need for aluminum and steel, supported by advancements in the oil and gas sector that are improving the quality of petroleum coke. However, market growth faces challenges due to fluctuations in crude oil prices and the shift toward electro-mobility, which is impacting the demand for traditional fossil fuels

Global green petroleum coke and calcined petroleum coke market 2024-2028

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Market Segmentation

By Application

  • Green Petroleum Coke
  • Calcined Petroleum Coke

By Type

  • Fuel Grade
  • Calcined Coke

By Geography

  • APAC
    • China
    • India
  • North America
    • US
  • Europe
    • France
    • Spain
  • Middle East and Africa
  • South America

Market Dynamics

Drivers

  1. Increasing Demand for Aluminum and Steel

    • Green petroleum coke and calcined petroleum coke are essential in aluminum smelting electrodes and synthetic graphite electrodes used in steel production.
    • Aluminum is a key material in aerospace and construction, while steel production remains vital for global infrastructure.
    • Rapid industrialization in China, Japan, and India is accelerating demand for these materials.

Trends

  1. Advancements in the Oil and Gas Industry

    • Adoption of machine learning, AI, and robotics in oil refining is increasing production efficiency.
    • Automation of processes like self-driving ore trucks and robotic drills is improving safety and productivity.
    • Growth in sustainable and efficient manufacturing is driving demand for calcined petroleum coke in aluminum production.

Challenges

  1. Fluctuations in Crude Oil Prices

    • Petroleum coke is derived from crude oil refining, making it vulnerable to price volatility.
    • Uncertainty in investment cycles in the oil and gas sector impacts supply.
    • The rise of electro-mobility is shifting demand away from petroleum coke.

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Regional Market Trends

APAC (43% Market Contribution)

  • China is the dominant player, with its aluminum industry driving demand for calcined petroleum coke.
  • Key companies include Atha Group, Hebei Kangnaixing Carbon New Material, China National Offshore Oil, and China National Petroleum.
  • India is another major market due to its growing aluminum and steel industries.

North America

  • The US remains a key market, driven by demand in construction and industrial applications.

Europe

  • France and Spain are experiencing moderate growth, influenced by aluminum and steel production.

Middle East and Africa

  • Emerging demand due to industrialization and energy sector expansion.

South America

  • The market is expected to grow steadily, supported by construction and manufacturing industries.

Key Companies in the Green Petroleum Coke And Calcined Petroleum Coke Market

Some of the key companies of the Green Petroleum Coke And Calcined Petroleum Coke Market are as follows:

  • Aluminium Bahrain BSC
  • Asbury Carbons Inc.
  • Atha Group
  • BP Plc
  • Chevron Corp.
  • China National Offshore Oil Corp.
  • China National Petroleum Corp.
  • China Shenhua Energy Co. Ltd.
  • ConocoPhillips Co.
  • Exxon Mobil Corp.
  • Gautam ZEN UK LTD.
  • Hebei Kangnaixing Carbon New Material Co. Ltd.
  • Minmat Ferro Alloys Pvt. Ltd.
  • National Iranian Oil Products Refining and Distribution Co.
  • Oxbow Corp.
  • Rain Industries Ltd.
  • RIZHAO HENGQIAO CARBON CO. LTD.
  • Shell plc
  • TotalEnergies SE
  • Valero Energy Corp.

 

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