Petroleum Coke Market Analysis

Product Type (Fuel Grade Coke, Calcined Coke)

By 2037, fuel-grade coke segment is set to dominate petroleum coke market share of over 60%. The major factor to dominate the segment expansion is the rising demand for energy. The World Counts estimate that 580 million terajoules of energy have been consumed currently. Furthermore, fuel-grade petcoke is also utilized in industrial boilers. These boilers are required to generate steam or hot water for a number of industrial procedures making the process efficient. Hence, the need for fuel-grade coke is growing since it is a cheaper and more efficient option in contrast to coal and might also be utilized in boilers that have been retrofitted to manage petcoke.

Additionally, the calcined coke segment will also hold a notable growth in the market through 2037. This is because the importance of calcined petcoke has grown recently as feedstock in producing different carbon products such as graphite electrodes, carbon brushes, and other carbon products. Its use is also growing in the manufacturing of activated carbon, which is further utilized in treating water and purifying air.

Application (Aluminum, Power Plant, Calcining Industry, Blast Furnaces, Fertilizers, Steel, Cement Kilns, Brick & Glass, Paper & Pulp)

The aluminum segment in the petroleum coke market is set to register growth of more than 5.2% from 2024 to 2037. This segment’s growth can be attributed to the growing demand for petroleum coke in the production of aluminum. Among various types of petcoke, calcined pet coke is taking a necessary position in manufacturing aluminum anodes for smelting and is the only commercially feasible procedure. Hence, with the growing demand for oil & gas, the segment is growing. According to the U.S. Energy Information Administration, in 2022, the production of crude oil in 98 countries increased by 80.75 million barrels. It enhances a higher-level combination of electrical conductivity and improves resistivity to physical and chemical degradation in the smelting pot.  

Our in-depth analysis of the global petroleum coke market includes the following segments: