Petroleum Coke Market Overview:
Global Petroleum Coke Market was valued at $16,680 million in 2016, and is expected to reach $29,648 million by 2023, registering a CAGR of 8.6% during the forecast period 2017-2023. Petroleum coke is the final solid material that is derived from oil refining, and is available in two forms, fuel grade and calcined grade. It is used in various industries such as power generation, construction, aluminum & other metals, and others. Asia-Pacific dominated the global petroleum coke market with more than half share in 2016.
Growth in supply of heavy oils across the globe and development in cement and power generation industry are expected to drive the growth of the global petroleum coke market during the forecast period. Rise in production of steel owing to development in railways, highway construction, automobiles, and transportation segments has complemented the growth of petroleum coke market. As petroleum coke has a relatively low ash content and minimal toxicity, it is used on a large scale in various industries. However, stringent environmental regulations towards the use of petroleum coke due to its high sulfur content is anticipated to hamper the growth of the market during the forecast period.
The global petroleum coke market is segmented based on type and application. On the basis of type, the market is bifurcated into fuel grade and calcined grade. Applications covered in the study include aluminum & other metals, cement, storage, steel, power, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Top Investment Pockets
In 2016, aluminum & other metals segment accounted for the major share in global petroleum coke market. The power segment accounted for approximately 18% share in the global market in 2016. In terms of value, these applications accounted for more than three-fifths share in the overall market.
The aluminum & other metals segment is the top investment pocket in the petroleum coke market, owing to use of aluminum as a carbon and energy source to create fuel for generation of electricity to fire cement kilns. In addition, petroleum coke offers added advantages such as safe handling, transportation, and storage with lox toxicity. Hence, the demand for petroleum coke is anticipated to augment in metallurgical applications in the near future.
Asia-pacific Petroleum Coke Market
Adoption of petroleum coke is expected to rise in Asia-Pacific, owing to growth in demand for energy, increase in supply of heavy oils, and stable economic growth. Emerging markets, such as China and India, are expected to show the highest increase in demand for petroleum coke during the forecast period, owing to rapid industrialization. The use of petroleum coke as a source for electricity generation is expected to drive the market growth in the near future.
Korea Petroleum Coke Market, 2016-2023 ($Million)
Major companies have adopted agreement, product launch, expansion, and merger to sustain the intense competition in this market. The key players profiled in the report include Essar Oil, Chevron Corporation, Saudi Arabian Oil Company, ExxonMobil, British Petroleum, Marathon Petroleum Corporation, Valero Energy Corporation, Reliance Industries, Royal Dutch Shell, and Trammo, Inc.
The other market players (not profiled in report) in the value chain include Oxbow Corporation, Suncor Energy Inc., Phillips 66 Company, Aminco Resources LLC, Nippon Coke & Engineering. Co., Ltd., Petroleum Coke Industries Company, Renelux Cyprus Ltd., TCP Petcoke Corporation, Graphite India Limited, and Capex Industries.
- This report provides an extensive analysis of the current trends and future estimations in the global petroleum coke market.
- In-depth analysis of the industry is conducted through market estimations of key segments for the period 2017 to 2023.
- Strategies adopted by leading manufacturers and distributors of petroleum coke helps understand the competitive scenario across geographies.
- Comprehensive analysis of factors that drive and restrain the growth of the market is provided in the report.
- Extensive analysis of the industry is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The key players are profiled along with their strategies to determine the competitive outlook of the market.
Petroleum Coke Market Key Segments:
- Fuel Grade
- Calcined Coke
- Aluminum & Other Metals
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Rest of LAMEA