Green Petroleum Coke Market by Type (Fuel, Anode) by Form (Spongy coke, Honeycomb coke, Purge coke, Shot coke, Needle coke) by Application (Aluminum, Graphite electrode, Cement, Power station, Calcined coke): Global Industry Size, Share, Statistics and Forecast 2016 - 2028

Green Petroleum Coke Market Analysis

The green petroleum coke market is expected to grow steadily over the next decade. The covid-19 outbreak has significantly impacted all spheres of economic activity. It appears that a long period of recession is virtually guaranteed. The market has been severely affected by slackening industrial action owing to lockdowns and closures. The global demand for aluminum has also decreased due to problems faced by the automotive and aerospace industries. Hence, this has reduced the need for the green petroleum coke market. The petroleum coke market is expected to fall by a substantial margin due to a reduction in gas and oil revenue.

Interesting Facts about Green Petroleum Coke Industry

• Green Petroleum Coke is a byproduct of petroleum refineries.
• Based on sulfur content, Green Petroleum Coke applications vary.
• Thanks to its inertness, Green Petroleum Coke is less harmful to human health and the environment.
• Green Petroleum Coke is sold at a premium price as compared to coal
• S. and China are the largest markets for Green Petroleum Coke
• Spongy coke, Honeycomb coke, Purge coke, Shot coke, and Needle coke is significant forms in which Green Petroleum Coke is available.
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Driven by China, Asia Pacific Will Grow at Rapid Pace

However, China has made a fast recovery from covid-19. As a result, it is now the biggest importer and producer of primary metals. The annual consumption of petroleum coke has reached 39 million tons, per the International Aluminum Institute. Although covid-19 has significantly impacted the green petroleum coke market, it is expected to make a recovery in the coming months and years.

The main driving factor for the green petroleum coke market is increased aluminum generation from industrial activities. On the other hand, the major restraining factor is expected to be covid-19. The Asia Pacific region dominates the world in green petroleum coke consumption. This is due to various industrial applications, including metal, silicon, steel, iron, aluminum, and fuel.

Increasing Demand for Fuel to Dominate Green Petroleum Coke Industry

Anode and Fuel are two significant segments of Green Petroleum Coke. Oil refineries produce petroleum coke as a byproduct. A substantial percentage of petroleum coke is used for fuel purposes. The remainder may be calcined to make it suitable for the aluminum industry or treated to produce metallurgical coke used in steel.

Aluminum Industry to Exhibit Strong Demand for Green Petroleum Coke

Aluminum, Graphite electrode, Cement, Power station, and Calcined coke are significant applications for Green Petroleum Coke. The aluminum production segment will drive the green petroleum coke market growth. The global demand for aluminum is increasing since lightweight automobiles are being manufactured by the automotive sector. Also, the aerospace industry is expected to drive the growth of the green petroleum coke market. Aluminum production has reached record levels in recent years. Also, the price of aluminum is recovering from the low it experienced in May.

Weak Growth Prospective of End-user Industries

There is an increasing focus on using lighter-weight materials to save fossil fuel and the environment. This is projected to increase the demand for aluminum in the automotive industry. However, the automotive industry has suffered setbacks due to covid-19, from which it is still recovering. Thus there has been a steady decline in the automotive sector over the past few months. The International Organization of Motor Vehicle Manufacturers states that global vehicle production was about 77.5 million in 2020. This is a significant drop from the vehicle production rate in 2019, which stood at about 92 million units. However, there is expected to be a recovery in the coming months.

Increasing construction projects in the Asia Pacific area, greater use of innovative technology, and new construction procedures are driving the growth of the green petroleum coke market.

Key players operating in the global Green Petroleum Coke industry include Oxbow Corporation, AMINCO RESOURCES LLC., Asbury Carbons, Aluminium Bahrain (Alba), Atha Group, Carbograf Industrial S.A. de C.V., Rain Carbon Inc., Minmat Ferro Alloys Private Limited, Shandong KeYu Energy Co., Ltd., Weifang Lianxing New Material Technology Co., Ltd. and Linyi Zhenhua Carbon Technology Co., Ltd.