【Petroleum Coke】China's Petroleum Coke Market Status and Development Forecast and Analysis in 2023 (Figure)

Petroleum coke is a black solid coke produced by pyrolysis and coking of petroleum vacuum residue at 500-550 ℃ in a coking unit. It is generally believed to be amorphous carbon or highly aromatic polymer carbide, containing a needle like or granular structure of tiny graphite crystals. 

Market Status

1. Output

The utilization rate of petroleum coke production capacity is low, but gradually recovering. Petroleum coke is a by-product of petroleum refining and chemical industry, and there is no concept of production capacity in itself. The output of petroleum coke basically depends on the output of petroleum refining and chemical industry. In 2022, the cumulative production of petroleum coke reached 30.031 million tons, a year-on-year decrease of 0.87%. It is expected to reach 32.4135 million tons in 2023. 

Data source: Sorted by ASKCI Consulting

2. Consumption

In 2021, China's downstream consumption of petroleum coke was mainly concentrated in the field of pre-baked anode and fuel. The field of pre-baked anode accounts for 57.77% of China's total consumption; The field of fuel accounts for 22.32% of China's total consumption; Silicon enterprises, carburetors, graphite electrodes, and negative electrode materials accounted for 4.89%, 4.32%, 1.76%, and 0.82%, respectively.

Data source: Sorted by ASKCI Consulting

Development opportunities

1. Focusing on meeting market demand

With the continuous improvement of China's national living standards, the market has increasingly higher requirements for various industries, so meeting market demand will be the focus of the future industry. Currently, China's petroleum coke industry is transitioning from a traditional model to an Internet integration model, with various production enterprises continuously extending the industrial chain and integrating various links from production to after-sales to meet changing market demands.

2. Medium and high sulfur petroleum coke product market output has increased.

Currently, China is gradually tightening its energy conservation and consumption reduction policies, constantly advocating the development of environmental protection industries, and reducing the pollution level of related high energy consumption industries. From the perspective of the petroleum coke industry, the pollution level of low sulfur petroleum coke products is relatively high. Under the influence of national policies, the production of low sulfur petroleum coke products in China's petroleum coke market will gradually decrease in the future, thereby improving the market production of medium and high sulfur petroleum coke products.

3. Continuous improvement of industrial concentration

The production capacity of China's petroleum coke market is mainly distributed in East China, Northeast China and South China. After long-term development, it has gradually formed certain industrial advantages. As the petroleum coke industry is based on traditional energy, the degree of petroleum coke market centralization will be further enhanced. For product information of calcined petroleum coke and needle coke, feel free to contact us.