Harnessing Emerging Business Opportunities through Green Petroleum Coke

New market research study provides an analysis and evaluation of the current and prospective profitability, liquidity and financial stability of Global Green Petroleum Coke Industry.

Green petroleum coke or green petcoke, a solid rock material is a derivative of crude oil refining and other cracking processes. Although a refining byproduct, green petroleum coke is considered as a valued commodity since 2009 globally. Remaining crude oil after separating other valuable petroleum products from refining process such as petrol, diesel, lubricants, waxes, etc. can be treated more in cokers or other cracking procedures to produce green petroleum coke.

Diverse grades of green petroleum coke are manufactured by varying the coking operation coking time length, temperature, and superiority of raw material used. The grades obtained by process are purge coke, needle coke, sponge coke, catalyst coke, and shot coke.  The different grades diverge in their physical properties and Volatile Organic Content (VOC). It is commonly used as a source of energy in numerous industries due to its high calorific value, as compared to bituminous coal and metallurgical coal. About 75% of the petroleum coke produced is used as an energy source in several industries. power plants and Cement kiln are the principal end users.

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Furthermore, green petroleum coke is also used in the manufacturing of metal, where it is used to manufacture anodes for Electric Arc Furnaces (EAFs). The niche applications of petroleum coke include the production of titanium dioxide TiO2 for paint and coloring industry, feedstock for coke oven series batteries, to produce ammonium nitrate and urea or carbamide for the paper industry and fertilizer, etc. High Sulphur, low-grade green petroleum coke (fuel grade) is generally used as a source of energy, while low Sulphur, high-grade green petroleum coke is used for other purposes by the manufacturers. Green Petroleum coke is a cost-effective alternative to coal with higher calorific value, lower ash content.

Upsurge in the utilization of green petroleum coke in the aluminum Manufacturing and heavy steel industries is likely to impel the green petroleum coke market. Anode-grade green petroleum coke contains very less sulfur, and it is used in aluminum and steel smelters as anode for the production of steel and aluminum. The fuel grade green petroleum coke contains a relatively high percentage of sulfur and is utilized as fuel in various end-use industries such as power stations, building & construction, etc. The fuel grade (High Sulphur) petroleum coke segment is expected to dominate the green petroleum coke market during the anticipated period.

In terms of form, the green petroleum coke market can be categorized into sponge coke, purge coke, needle coke, honeycomb coke, and shot coke. Sponge coke is mid-level coke and is not as rigid as needle coke and not as unstable as shot coke. The sponge coke category is anticipated to constitute a main portion of the green petroleum coke market. After sponge coke, following closely the shot coke segment clasps the second largest stake in the green petroleum coke (Green petcoke) market as shot coke is inexpensive and holds high density. It is typically used for titanium dioxide (TiO2) production. Further Needle coke clutches the leading share in the green petroleum coke market as it offers properties such as nearly low coefficient of thermal expansion, high mechanical strength, and low puffing. several Developing countries such as China, India, and Japan are anticipated to increase their consumption of sponge coke. Consequently, these regions are likely to impel the growth of the sponge coke segment.

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In light of application, the green petroleum coke market can be bifurcated into aluminum, cement, calcined coke, power stations, graphite electrode, and others. The graphite electrode segment is further classified into various sub-segments such as regular, high power (HP), high density (HD), ultra-high power (UHP) and super high power (SHP), normal power (NP), and medium power (MP) graphite electrode.  The Cement segment is predicted to lead the market during the study period. Green petroleum coke is utilized in cement as it holds no amount any sulfur residual. It only emits sulfur when it is burnt. Demand for cement is high due to the expansion in the construction and building industry. This, sequentially is anticipated to drive demand for green petroleum coke.

Geographically, the global green petroleum coke market can be bifurcated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America and Europe hold a leading share of the green petroleum coke market due to the presence of well-established crude oil companies in these regions. North America also constitutes a significant share of the market. The market in Asia Pacific is estimated to expand at a rapid pace due to significant increase in construction and building activities in developing economies such as China and India. The market in Middle East & Africa and Latin American is expected to expand at a slow pace during the forecast period.

Some of the Key players in the market include Oxbow Corporation, Asbury Carbons, Aluminium Bahrain (Alba), Atha Group, 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., COCAN (HUBEI) GRAPHITE MILL INC., Modern Industrial Investment Holding Group., Sinoway Carbon Co., Ltd., and Ningxia Wanboda Carbons & Graphite Co., Ltd. Carbograf Industrial S.A. de C.V., AMINCO RESOURCES LLC., among all others.

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