Coca-Cola Beverage Market Forecast to Exceed USD 686.9 Million by 2034
Global Pitch Coke Market Expands Amidst Industrial Growth
The global pitch coke market is experiencing growth, with key players making significant strides in production and supply. In 2025-26, Rain CII Carbon received the largest share of Green Petroleum Coke (GPC), amounting to 462,589 tonnes.
Notably, ASBURY CARBONS is expanding its pitch coke offerings, focusing on high-carbon variants for metallurgical uses. The company's advancements in material consistency and supply chain reliability are expected to further boost the market's growth.
The market is projected to reach USD 686.9 million by 2034, growing at a Compound Annual Growth Rate (CAGR) of 4.6% during the 2025-2034 forecast period. Fuel Grade Pet Coke dominated the market with a 78.4% share of the global pitch coke demand.
In December 2024, the government capped low-ash metallurgical coke imports at 713,583 tonnes per quarter for the first half of 2025. Meanwhile, in May 2023, India's metallurgical coke production rose 8% month-on-month to 4.16 million tonnes.
Regions with large steel production and carbon fiber industries, such as North America and Asia Pacific, are likely to command the largest shares in the market. North America led the market in 2024, holding a 48.3% share with USD 211.6 million in revenue.
SUMMIT CRM Limited is expanding its pitch coke supply chain for the aluminum and steel industries, focusing on securing high-quality raw materials and sustainable production methods. Sojitz JECT Corporation has strengthened its pitch coke procurement network, catering to the growing demand from lithium-ion battery and steel manufacturers.
The Commission for Air Quality Management increased the Calcined Petroleum Coke (CPC) quota to 800,000 tonnes annually for 2025-26. Bilbaina de Alquitranes is modernizing its production facilities in Spain, improving refining techniques to meet stricter environmental regulations while maintaining product quality for the aluminum and graphite industries.
The current market size for pitch coke is not specified, but the closely related carbon fiber market was valued at USD 2.65 billion in 2023 and is projected to grow to USD 6.54 billion by 2032 with a CAGR of 11.1%. Key applications driving demand in related markets include aviation, aerospace & defense, and automotive industries.
India's steel industry, with an annual production capacity of approximately 200 million metric tons, drives demand for high-quality coke. The Directorate General of Foreign Trade (DGFT) allocated 1.87 million tonnes of Green Petroleum Coke (GPC) for the 2025-26 fiscal year. Rain Carbon Inc. is optimizing its production processes for pitch coke and CPC, emphasizing sustainability, carbon emission reduction, and continued supply of high-grade pitch coke for anode production in the aluminum sector.
Aluminum Anode was the leading application segment, accounting for 34.8% share of the global market. As the industry continues to evolve, it is expected that pitch coke will play a crucial role in meeting the demands of various sectors, particularly those focused on high-value materials and sustainable production methods.
- The global pitch coke market is not solely focused on carbon fiber and aluminum industries; it also extends to the steel industry due to its high demand.
- Given the booming renewable-energy sector, investing in businesses that focus on sustainable pitch coke production, like SUMMIT CRM Limited and Bilbaina de Alquitranes, could be a profitable venture in the housing-market and real-estate.
- As the finance industry becomes more conscious of environmental considerations, the renewable-energy industry could soon view pitch coke as a financially viable and sustainable alternative, given its applications in lithium-ion battery manufacturing (Sojitz JECT Corporation).
- With the growing demand for energy-efficient solutions across various industries, the pitch coke industry's expansion, as observed in ASBURY CARBONS and Rain Carbon Inc., presents an compelling opportunity for businesses looking to further their investments in the industry.
