Calcined Petcoke Market Share

Asia Pacific Market Forecast

Calcined Petcoke Market in the Asia Pacific is predicted to account for the largest share of 48% by 2037. This is impelled by the increasing construction sector. With the active backing of the government, India is expected to enhance its infrastructure to achieve its economic growth goal of USD 5000 billion by 2025.

In context to it, under the budget 2023-2024, the investments in the infrastructure have been increased to USD 122 billion by 33%. These advancements in the construction sector are compelling growth to the market.

In addition, petroleum coke that has been calcined is frequently used in the carburizing and recarburizing process to balance the carbon level when making steel as it has higher carbon content and lower grade of coke.

North America Market Statistics

The North America Calcined Petcoke market is estimated to be the second largest, during the forecast timeframe led by the growing output of metal and steel. As per a study, the steel industry of the US has been growing since 2009 and one of the companies that emerged as a phoenix in the steel industry is Nucor Corporation based in North Carolina.

Nucor recorded a revenue of 40 billion in the year 2022 with the production of around 20 million metric tons of crude steel worldwide on global level. The large production of steel simultaneously stimulates growth in the market and drives its wide adoption. Additionally, governments are enacting stricter laws, and green levies on activities that negatively impact the environment, and are also providing grants and subsidies to create game-changing technologies including waste management, carbon capture, renewable energy, and energy efficiency. This all is projected to offer growth prospects for market.