The global petroleum coke market has experienced significant growth over the past few years, primarily due to substantial growth in the application industries which are referred to as end-user segments in the report. Moreover, growing use of petcoke as a cost effective fuel in cement and energy industries is expected to drive the growth in the petcoke market over the forecast period. As per the report the global petroleum coke market was worth USD 16.70 billion in 2016 and it is projected to reach USD 29.47 billion in 2023, expanding at a CAGR of 8.5% between 2017 and 2023. In terms of volume of consumption the market size, of Petroleum Coke was 80201.8 kilo tons in 2016 and it is projected to reach 133145.4 kilo tons by the end of 2023, growing at a CAGR of 7.5% over the forecast period 2017-2023.
High demand for petroleum coke has been witnessed in Asia Pacific region over the past few years owing to developing economies such as China and India. Petroleum coke is also called as petcoke. It is a solid carbon material obtained as a byproduct in the oil refineries. Majorly, it comprises of carbon along with traces of sulfur and heavy metals. Crude oil when refined is processed into petrol, diesel, naphtha, fuel oil, kerosene and residue crude. Further a process known as coking is carried out to produce petcoke. Currently, more than 100 refineries produce petcoke across the globe. Fuel grade coke and calcined coke are the two major types of petroleum coke available in the market. Major applications of fuel grade coke are found in power plants and cement kilns owing to high calorific value and less cost. Calcined coke is used to manufacture titanium oxide and find applications in various industries such as aluminum, bricks, fertilizer, glass and steel.
The global Petroleum Coke market is driven by the factors such as, growing usage of petcoke as a cost effective fuel in cements and energy industries, growth in production of aluminum and steel, and, advanced technologies aiding the surge in production of crude oil. However, health and environmental effects of the petcoke is likely to act as restraining factor affecting the global petroleum coke market over the forecast period.
Asia-Pacific dominates the world Petroleum Coke market in terms of dollar share, while RoW (including South America and Middle East) region is expected to grow at the highest CAGR over the forecast period followed by Europe. The growth in the Asia-Pacific region is primarily driven by emerging economies such as India, China and Indonesia.
The report provides analysis of global as well as regional markets of the petroleum coke market. In addition, the global petroleum coke market is segmented by product and by end use. By product covers calcined coke, fuel and grade coke. By end use covers power plants, cement industry, blast furnace and others.
The global petroleum coke market covers analysis of regions such as North America, Europe, Asia-Pacific and RoW (including Latin America, Middle East and Africa). Among the geographies High demand for petroleum coke has been witnessed in Asia Pacific region over the past few years.
Figure: Global Petroleum Coke Market by Region
Some of the key players in the global Petroleum Coke market are Indian Oil Corporation Limited, SABIC (Saudi Arabian Oil Co.), Reliance Industries Limited, JM Eagle, Valero Energy Corporation, Chevron Corporation, BP Plc, Essar Oil Ltd., Royal Dutch Shell Plc. and ExxonMobil Corporation.
The report covers the analysis of global as well as regional markets of petroleum coke market and provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand globally as well as regionally. We also have highlighted future trends in the petroleum coke that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market.
Infinium Global Research- Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider also by using analytical tools such as Porter’s five forces analysis and value chain analysis of petroleum coke in-depth analysis is provided. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. This report will help manufacturers, suppliers and distributors to understand the present and future trends in this market and formulate their strategies accordingly.
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