| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| CAGR | 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Green Petroleum Coke & Calcined Petroleum Coke Market Analysis
The Green Petroleum Coke and Calcined Petroleum Coke Market is expected to register a CAGR of less than 6% during the forecast period.
The COVID-19 pandemic significantly impacted economic activity. A deep and potentially extended recession is a foregone conclusion. The slowdown in industrial activities significantly impacted the market due to lockdown and curfew situations worldwide. Global aluminum demand is already slashed, with the automotive and aerospace industries bearing the brunt of the fallout, thus, decreasing the demand for green and calcined petroleum coke. Currently, the market recovered from the pandemic and is growing steadily.
- Over the short term, increasing aluminum production for industrial activities is expected to drive market growth.
- However, fluctuating prices for raw materials will likely hinder the market's growth.
- Nevertheless, extensive industrialization in Asia-Pacific and Latin America will likely generate future profitable growth prospects for the green petroleum coke market. Due to high product demand in the construction industry, Asia-Pacific includes a significant share of the global green petroleum coke market in terms of usage.
- Asia-Pacific dominated the market across the world, with robust demand from various applications, such as fuel, aluminum, iron and steel, and silicon metal, among others, in numerous industries.
Green Petroleum Coke & Calcined Petroleum Coke Market Trends
Aluminium Segment to Drive the Market Growth
- The increasing focus on lightweight construction in the automotive industry and the booming aerospace industry fuels the global demand for primary aluminum.
- According to the World Bank, the average price of aluminum in 2022 was USD 2,700 nominal per metric ton.
- The increasing pressure to utilize lightweight materials to protect the environment is expected to drive the growth of aluminum in the automotive sector.
- In Europe, Germany is the largest producer of aluminum. For instance, according to the Statistisches Bundesamt, in 2022, the revenue of the industry of aluminum production in Germany was USD 18.05 billion. The revenue from aluminum production in Germany is expected to be over USD 19.36 billion by 2025.
- However, there is growth in the automobile industry, thus, enhancing the market studied. According to the International Aluminium Institute, in 2022, China's total aluminum consumption in trucks was 0.72 million tons. It is expected to increase to 1.4 million tons by 2030. This rise was due to the expected increase in truck manufacturers in China.
- Moreover, growing construction activities in the Asia-Pacific region, especially in ASEAN countries, increased adoption of new technology, and innovative construction procedures are some of the factors driving the growth of the market studied.
- According to the Office of Economic Adviser (India), the wholesale price index of aluminum in India was 134 at the end of the fiscal year 2022.
- In light of megatrends, such as electro-mobility and additive manufacturing, new applications involving aluminum materials are increasingly used at a higher pace.
- Although aluminum is facing intense competition from other materials, such as plastic composites, its growth areas are expected to remain more extensive than its substitute areas.
- The increasing focus on energy-saving cars and aluminum's excellent reusability, which allows the energy invested in its production to be entirely reclaimed, is expected to increase aluminum consumption in the coming years.
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Asia-Pacific to Dominate the Market
- Asia-Pacific dominates the green and calcined petroleum coke market in terms of market share and revenue. The region will continue to flourish in its dominance over the forecast period.
- Globally, China and India are significant consumers of petroleum coke. According to the Ministry of Statistics and Programme Implementation, in 2022, the revenue of the industry "Manufacture of coke and refined petroleum products" in India was USD 141.79 billion by segment. The revenue from manufacturing coke and refined petroleum products in India is expected to be over USD 161,7 billion by 2024.
- Due to strict environmental norms, the consumption of fuel-grade coke decreased reasonably. Initially, China amended its standards to allow pet coke with 3-5% sulfur into the system for anode-grade coke. However, the country adapted to the recognized industry standard of 3% sulfur as the cut-off point. The country is finding it more challenging to source CPC due to low supply and high demand for low-sulfur coke from Chinese smelters.
- China continues to be the primary driver of growth in the aluminum industry, and e-mobility is a significant factor.
- According to the National Bureau of Statistics of China, in October 2022, China's alumina (aluminum oxide) output volume was around 7.11 million metric tons. The output volume was relatively steady during the monitored period, varying between 5.9 and 7.3 million metric tons per month.
- New applications are coming up, such as pedestrian bridges, aluminum formwork, and aluminum furniture, which are also likely to be an additional source of aluminum consumption growth, which, in turn, will aid in driving the market through the forecast period.
- As a result, all the causes above are projected to increase demand for the green and calcined petroleum coke market in the Asia-Pacific region in the future years.
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Green Petroleum Coke & Calcined Petroleum Coke Industry Overview
The green and calcined petroleum coke market are partially consolidated, with the top five players accounting for a significant market share. Some major players in the market include Oxbow Corporation, Rain Carbon Inc., bp America, Phillips 66 Company, and Aluminium Bahrain B.S.C. (Alba), among others.
Green Petroleum Coke & Calcined Petroleum Coke Market Leaders
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Oxbow Corporation
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Rain Carbon Inc
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Phillips 66 Company
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BP plc
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Aluminium Bahrain B.S.C. (Alba)
- *Disclaimer: Major Players sorted in no particular order
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Green Petroleum Coke & Calcined Petroleum Coke Market News
- January 2023: Phillips 66 and DCP Midstream, LP announced a definitive agreement under which Phillips 66 will acquire all publicly traded standard units representing limited partner interests in DCP Midstream for cash consideration of USD 41.75 per standard unit, increasing its economic interest in DCP Midstream to 86.8%. It will strengthen the corporation and, in specific ways, boost the market productivity of petroleum coke.
- June 2022: ExxonMobil and researchers at Texas A&M University are developing a method to reprocess petroleum coke, a byproduct of refining crude oil, into graphene using a chemical process called electrochemical exfoliation.
Green Petroleum Coke & Calcined Petroleum Coke Industry Segmentation
Petroleum coke is a byproduct of oil refineries, and around 75% of petroleum coke produced globally is used as fuel, while the rest is usually either calcined for usage in the aluminum industry or treated for use as metallurgical coke in steel making. The green and calcined petroleum coke market is segmented by type, application, and geography. By type, the market is segmented into fuel grade and calcined coke. By application, the market is segmented into green petroleum coke (aluminum, fuel, iron and steel, silicon metal, and others (bricks, glass, carbon products, and others)) and calcined petroleum coke (aluminum, titanium dioxide, re-carburizing market, and others (needle coke, carbon products, etc.)). The report also covers the market size and forecasts for the green petroleum coke and calcined petroleum coke market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done based on volume (kilotons).
| Type | Fuel Grade | ||
| Calcined Coke | |||
| Application | Green Petroleum Coke | Aluminum | |
| Fuel | |||
| Iron and steel | |||
| Silicon Metal | |||
| Others (Bricks, Glass, Carbon Products, etc) | |||
| Calcined Petroleum Coke | Aluminum | ||
| Titanium Dioxide | |||
| Re-carburizing Market | |||
| Others (Needle Coke, Carbon Products, etc) | |||
| Geography | Asia-Pacific | China | |
| India | |||
| Japan | |||
| South Korea | |||
| ASEAN Countries | |||
| Rest of Asia-Pacific | |||
| North America | United States | ||
| Canada | |||
| Mexico | |||
| Europe | Germany | ||
| United Kingdom | |||
| Italy | |||
| France | |||
| Spain | |||
| Rest of Europe | |||
| South America | Brazil | ||
| Argentina | |||
| Rest of South America | |||
| Middle-East and Africa | Saudi Arabia | ||
| South Africa | |||
| Rest of Middle-East and Africa | |||
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Green Petroleum Coke & Calcined Petroleum Coke Market Research FAQs
What is the current Green Petroleum Coke and Calcined Petroleum Coke Market size?
The Green Petroleum Coke and Calcined Petroleum Coke Market is projected to register a CAGR of less than 6% during the forecast period (2025-2030)
Who are the key players in Green Petroleum Coke and Calcined Petroleum Coke Market?
Oxbow Corporation, Rain Carbon Inc, Phillips 66 Company, BP plc and Aluminium Bahrain B.S.C. (Alba) are the major companies operating in the Green Petroleum Coke and Calcined Petroleum Coke Market.
Which is the fastest growing region in Green Petroleum Coke and Calcined Petroleum Coke Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Green Petroleum Coke and Calcined Petroleum Coke Market?
In 2025, the Asia Pacific accounts for the largest market share in Green Petroleum Coke and Calcined Petroleum Coke Market.
What years does this Green Petroleum Coke and Calcined Petroleum Coke Market cover?
The report covers the Green Petroleum Coke and Calcined Petroleum Coke Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Green Petroleum Coke and Calcined Petroleum Coke Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Green Petroleum Coke and Calcined Petcoke Industry Report
Statistics for the 2025 Green Petroleum Coke and Calcined Petroleum Coke market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Green Petroleum Coke and Calcined Petroleum Coke analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
