Petcoke Market Size, Share, Industry, Forecast and outlook (2023-2030)

Global Petcoke Market is segmented by Product (Calcined Coke, Fuel Grade Coke), by End-Use (Cement Industry, Power Plants, Steel Industry, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis,2023-2030

Petcoke Market Overview

Report on Global Petcoke by DataM Intelligence estimates the market to grow at a CAGR of 6.6% during the forecast period 2023-2030.

• Petroleum coke, or petcoke, is a by-product of the refining of crude oil. It consists mostly of carbon, with variable amounts of sulfurs and heavy metals.
• It has many industrial uses, including the production of batteries, steel, and aluminum. Lower-grade petcoke, which contains higher concentrations of sulfur, is used as fuel in coal-fired power plants and cement kilns.

Petcoke Market Scope and Summary

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Petcoke Market Dynamics and Trends

• The major driver of the petcoke is increasing the use of the gasification process. Gasification of petcoke is a favorable technique since it can capture most of the energy content and is environmentally friendly. However, petcoke gasifiers are large and entail a heavy CAPEX.
• There is another advantage to using pet coke in cement kilns. As petcoke has zero ash content, cement firms can use low-grade limestone. This is a big advantage as almost 60% of India’s limestone reserves is a low grade in nature and cannot be used if coal (that has significant ash content) is used as fuel.
• However, stringent environmental regulations towards the use of petroleum coke due to its high sulfur content are anticipated to hamper the growth of the market during the forecast period.

Petcoke Market Segmentation Analysis

• By product type, the global petcoke market is bifurcated into calcined coke and fuel-grade coke. The fuel grade coke is expected to contribute to the growth of the global petcoke market owing to a rise in import value.
• Also, Calcined coke finds application in aluminum, paints and colorings, steel, and fertilizer industries in the production of titanium dioxide.

Global Petcoke Market Geographical Share

• Geographically, the Global Petcoke Market is segmented into North America, Europe, South America, Asia Pacific, and RoW. Among all the regions, Asia Pacific dominates the petcock market regarding demand and is the largest importer of petcoke.
• Most of the petcoke in countries such as China and India is used in power plants for generating electricity and in cement kilns due to rapid industrialization.
• Europe is another lucrative market for pet coke owing to the rising demand for electricity in the region. Many crude oil companies in Europe had delayed the cooking units to produce petcoke locally.

Petcoke Market Companies and Competitive Landscape

• The key players profiled in the report include Essar Oil, Saudi Arabian Oil Company, Marathon Petroleum Corporation, Adani Group, HPCL-Mittal Energy Limited (HMEL), Reliance Industries, Oxbow Corporation, Indian Oil Corp, Bharat Petroleum Corp, Sumitomo Heavy Industries, Ltd, Repsol, and Trammo, Inc.
• The other market players (not profiled in the report) in the value chain include Suncor Energy Inc., Phillips 66 Company, Aminco Resources LLC, and Nippon Coke & Engineering. Co., Ltd., Petroleum Coke Industries Company, Benelux Cyprus Ltd., TCP Petcoke Corporation, Graphite India Limited, and Capex Industries.