Petroleum coke market seen reaching $75.3 billion by 2030

By AI, Created 2:01 PM UTC, June 04, 2026, /AGP/ – The global petroleum coke market is projected to nearly double from 2020 to 2030, driven by demand from cement, power and metals industries. Asia-Pacific and fuel-grade coke remain the biggest growth engines, while regulation continues to weigh on the market.

Why it matters: - Petroleum coke demand is tied to heavy industry, so the market outlook is a signal for aluminum, cement, power generation and steel activity. - Allied Market Research estimates the market will grow from $38.4 billion in 2020 to $75.3 billion by 2030. - That implies a 6.9% CAGR from 2021 to 2030.

What happened: - Allied Market Research released a report on the global petroleum coke market on June 4, 2026. - The report covers market trends, value chain, top segments, investment areas, regional conditions and competition. - The market report is available in a sample PDF. - The full report is available here.

The details: - Rising use of adhesives, higher global heavy oil supply, and growth in cement and power generation are driving the market. - Government rules on petroleum coke manufacturing and use are slowing growth. - Infrastructure development in the Middle East and Africa is expected to lift demand over the forecast period. - Key companies named in the report include Suncor Energy, Oxbow Corporation, Phillips 66, Nippon Coke & Engineering, Aminco Resources, Petroleum Coke Industries, Graphite India, Renelux Cyprus, Marathon Petroleum and British Petroleum. - Fuel-grade petroleum coke held more than 70.8% of market share in 2020. - Fuel-grade coke is projected to be the fastest-growing type, with a 7.5% CAGR from 2021 to 2030. - Aluminum and other metals applications held more than 41.6% of market share in 2020. - The aluminum and other metals segment is projected to grow at a 7.9% CAGR through 2030. - Asia-Pacific accounted for about 55.7% of the global market in 2020. - Asia-Pacific is projected to post the highest regional CAGR at 7.4% through 2030. - The report also analyzes calcined coke, cement, storage, steel and power segments.

Between the lines: - The market is expanding, but the report suggests growth is uneven. - Fuel-grade coke and Asia-Pacific are doing most of the heavy lifting. - Regulatory pressure could limit how quickly the market converts industrial demand into revenue. - The size of the forecast points to continued reliance on carbon-intensive industrial inputs, even as policy pressure increases.

What’s next: - Demand growth should track infrastructure spending, heavy oil supply and industrial output in Asia-Pacific and the Middle East and Africa. - The market’s pace will likely depend on how much regulation constrains production and usage. - Readers can submit questions through the report’s purchase inquiry page.