The latest market report published by Credence Research, Inc. “Global Green Petroleum Coke Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Green Petroleum Coke Market generated revenue of around USD 13,670.13 million in 2021 and is anticipated to grow a CAGR of over 4.75% during the forecast period from 2021 to 2028 to reach around USD 19,541.22 million in 2028. While, cumulative growth opportunity presented by the global Green Petroleum Coke is around USD 119 billion during 2022 to 2028.
Global Green Petroleum Coke Market, 2021 – 2028 (USD Million)
The green petroleum coke market is expected to register a steady growth rate 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 impacted by slackening industrial activity 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 demand for the green petroleum coke market. Owing to a reduction in gas and oil revenue, the petroleum coke market is expected to fall by a substantial margin.
Increasing Demand for Green Petroleum Coke as a Fuel
Anode and Fuel are major types of Green Petroleum Coke. Fuel type of Green Petroleum Coke is widely being used across host of industries and growing in demand consistently. In 2021, fuel segment of global Green Petroleum Coke market dominated the market with almost two third share in total volume consumption as well as revenue generation. Moreover, the demand for Green Petroleum Coke as a fuel anticipated to grow at a rapid pace.
Spongy Coke to Dominate the Demand for Green Petroleum Coke
Spongy coke, Honeycomb coke, Purge coke, Shot coke and Needle coke are major forms of Green Petroleum Coke available across the world. Among all, Spongy coke is likely to hold the significant share over the forecast period. While, Needle coke is most widely used form of Green Petroleum Coke. It held over 25% share in 2021.
Aluminum and Cement to Fuel the Demand for Green Petroleum Coke
Aluminum, Graphite electrode, Cement, Power station and Calcined coke are major application outlets for the Green Petroleum Coke industry. Aluminum and Cement are most dominating applications of Green Petroleum Coke. Collectively it accounted around two third share in total volume consumption. While, power station and calcined coke are expected to exhibit rapid growth over the analysis period. Green Petroleum Coke is economic source of fuel to be used in aluminum and cement industry and hence growing in popularity. Green Petroleum Coke generate more energy from equivalent volume of coal.
Major Demand Stem from U.S.
U.S. is major regional market for Green Petroleum Coke with over 35% share in 2020. Higher efficiency, abundance is availability and minimum adverse impact on human health as well as environment has been remained major factors in the growing adoption of Green Petroleum Coke as an alternative fuel in cement and coke industry. However, China is also advancing at rapid pace in demand for Green Petroleum Coke om the account of increasing aluminum and cement production in the country.
Key players operating in global Green Petroleum Coke market 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.
Global Green Petroleum Coke Market by Type, 2016 – 2028
Global Green Petroleum Coke Market by Form, 2016 – 2028
- Spongy coke
- Honeycomb coke
- Purge coke
- Shot coke
- Needle coke
Global Green Petroleum Coke Market by Application, 2016 – 2028
- Graphite electrode
- Power station
- Calcined coke
Global Green Petroleum Coke Market by Company, 2021
- 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.
- Linyi Zhenhua Carbon Technology Co., Ltd.