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Global Green Petroleum Coke Market is projected to Grow at a CAGR of 5.25% by 2030

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ChemAnalyst
Aug 18, 2021 09:02
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According to ChemAnalyst report, “Global Green Petroleum Coke Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, global Green Petroleum Coke market has shown considerable growth in historic period and is anticipated to achieve a healthy CAGR of 5.25% during the forecast period. Due to increasing demand in search for fuels with a large feedstock that can be further used in the production of Petroleum Coke or Calcined coke, which can potentially be an important industrial commodity for Steel and Aluminium  industry  or a key fuel in the future. Green Petroleum Coke fuel is highly functional in steel, Aluminium  and Titanium smelting industries. Due to high Carbon percentage and low Sulphur content, it adds a higher value to demand of Green Petroleum Coke to manufacture anodes by Aluminium  and Titanium industries.

Get more information: https://www.chemanalyst.com/industry-report/green-petroleum-coke-market-598

Green Petroleum Coke is a high fixed carbon content material that comprises of hydrocarbons and low levels of inorganic compounds. It is usually derived from processing liquid fractions in Delayed Coking Units (UCR). The industry of Green Petroleum Coke possesses a well-defined infrastructure for production, handling and distribution of coke for numerous applications. Green coke having low metal content is also called anode-grade coke which is extensively used for the manufacturing of anodes in order to produce Aluminium or Titanium dioxide. Green Petroleum Coke can be segmented into anode grade and metallurgical grade. Anode grade is used to obtain calcined coke whereas metallurgical grade is used to obtain Steel grade coke, which is further used as a reducing agent in iron and Steel metallurgy and in other industrial applications.

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Green petroleum coke is highly used in various industrial applications including Aluminium, Steel and other industries . Green Petroleum Coke also finds its demand in the manufacturing of Calcinated Petroleum Coke. It is created by the delayed coking of crude oil converting into liquid fuels such as gasoline and jet fuels. The quality of Green Petroleum Coke depends upon the quality of crude oil that a refinery consumes. Carbon and Steel industry prefers Green Petroleum Coke over other fuels as it does not degrade Steel and Aluminium even under adverse environmental conditions. The usage of Green Coke is determined by its quality. High content of Sulphur in Green Petroleum Coke is consumed as a solid fuel for its BTU content, whereas low impurity and low Sulphur content of coke can be upgraded through calcining for consumption as a key raw material by Aluminium and Steel industries. Companies are increasing their investments in Green petroleum coke for expanding green energy projects to produce low Sulphur coke which will boost the Green petroleum coke market worldwide. Different forms of Green petroleum coke are available such as sponge coke, shot coke, purge coke, needle coke, honeycomb coke etc. Rising demand of Green Coke in application areas such as Aluminium, Iron and Steel production and increasing government initiatives for low emission and eco-friendly materials is projected to drive the demand of Green Petroleum Coke in the upcoming years. Moreover, the increasing demand from cement industry is also pushing the demand, as the Green Coke or Calcinated Coke can be added to cement in different compositions.

Due to the onset of COVID-19, Government held restrictions on travel ban and caused nationwide lockdown which had a huge impact on several industries and their economy. Aluminium, Iron and steel industries were among the most affected industries during the global crises due to plant shutdowns and decrease in the global supply chain. Hindrance in sales and distribution impacted the demand of green petroleum coke for the first half of 2020.

Region wise, APAC region holds the largest share of Green petroleum coke market worldwide due to an increase in the demand of Aluminium, Iron and Steel production. In China, the demand of Aluminium is rising due to various new applications such as pedestrian bridges, Aluminium formwork and Aluminium furniture, which will aid in driving the Green Petroleum Coke market during the forecast period. Saudi Arabia has increased the volume of shipping the Petroleum Coke throughout the Asia.

According to ChemAnalyst report, Global Green petroleum coke Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating in global Green Petroleum Coke market Petrobras, Aminco Resources LLC., Oxbow Corporation, Asbury Carbons, Aluminium Bahrain (Alba), Rain Carbon Inc., Atha Group, Carbograf Industrial S.A. de C.V.,Weifang Lianxing New Material Technology Co., Shandong KeYu Energy Co., Ltd.,  Minmat Ferro Alloys Private Limited, Ltd. Linyi Zhenhua Carbon Technology Co., Ltd, and Others.

“Being linked to the downstream application such as Steel, Iron and Aluminium Industries etc, the global Green petroleum coke Industry has shown a considerable growth along with the growing population and changing in the consumer preference. It is expected that India is going to become the world's fifth largest consumer market by 2025. In addition, growing per capita income worldwide poised a stronger outlook to the country’s Green petroleum coke demand. The nationwide lockdown and restrictions due to global crises affected the global supply chain logistics and caused immediate shortage of raw materials hence increased the prices of Green petroleum coke. Meanwhile,  China serves as the key growth region as well with sufficiently installed capacities. With new competitors emerging across the Asian Green Petroleum Coke market, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.

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