Calcined Petroleum Coke Market Size, Share, Growth Analysis, By Type(Anode Grade, Needle Grade), By End Use(Carburizing & Recarburizing Electric Arc & Induction Furnaces, Others), By Region - Industry Forecast 2024-2031

In 2021, Asia-Pacific accounted for a majority of global calcined petroleum coke market owing to the region's increased investment in infrastructure projects in nations like China, India, and Singapore. Additionally, the increase in population is driving up the demand for new residential and commercial infrastructure. For example, in India, the government is always attempting to improve India's infrastructure. Additionally, Budget 2020 gave infrastructure development a boost to increase expenditure on roads, highways, railroads, airports, and ports. The government designated over 6500 projects under the National Infrastructure Pipeline (NIP) to create a $5 trillion economy by 2025, allocating over 103 lakh crores for infrastructure projects.

Furthermore, in 2017, the Indian government announced an investment of INR 6,920 billion to build 83,677 km of roads over the next five years. The new FY2021 budget also includes funds for expedited road and highway development. ICRA expects that road improvements will be completed in around 9000Km, which is 10% less than the previous year owing to the impact of COVID-19. However, toll collections on national roads increased to 87 percent of pre-COVID levels in the second half of July 2020, indicating a recovery that is still in its early stages. Increased investment in constructing roads and highways raises the demand for labor, mining equipment, and other resources, which helps put money into the hands of the general public.

According to estimates, the U.S. exports more calcined petcoke than any other country. In December 2021, 2,096,496 metric tonnes of petcoke were exported from Delaware, Louisiana, Mississippi, Texas, and Virginia combined. This number exceeds December 2020 by 192,244 MT, overall exports were 100,213 MT more than the 12-month average, and petcoke exports for December 2021 were 193,974 MT higher than the 6-month average, representing a 30% rise from November 2021. Since a sizable amount of electricity may be produced at an affordable rate, the cheap cost of calcined petroleum coke is anticipated to be a key draw for its import. This will help the North American region to observe significant growth during the forecast period in the global calcined petroleum coke market.