Petcoke Market Growth Analysis | 2022-2028

Market Insights

The petcoke market was estimated at USD 18 billion in 2021 and is likely to grow at a CAGR of 9.8% during 2022-2028 to reach USD 34.63 billion in 2028.

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Market Dynamics

Introduction

Petroleum coke refers to a solid carbon byproduct used as a fuel in the process of raw oil distillation. It offers high-power output and low ash content and therefore, is highly efficient as in comparison with traditionally-used fossil fuels. Some of its common types are needle, sponge, wave, and shot coke. It is extremely stable in chemical products and is used primarily in the production of anodes, electrodes, bricks and metals, cement, fertilizers, etc.

Market Drivers

One of the key factors driving market growth is rapid industrialization, especially in developing economies. Another significant growth-inducing factor is the increased emphasis on reducing dependence on fossil fuels for energy generation.

In addition, significant developments in infrastructure around the globe have a positive market outlook. Further, the rise in the disposable income of consumers along with growing road safety concerns related to passenger and commercial vehicles is expected to fuel the growth of the market during the forecast period.

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key Players

The following are the key players in the petcoke market (arranged alphabetically):

• Atha Group
• BP
• Cocan Graphite Trammo
• Corporation
• Essar Oil
• ExxonMobil
• Marathon Petroleum
• Rain CII
• Reliance
• Saudi Aramco

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

By Grade Type

"Calcined petroleum coke is expected to lead the market during the forecast period."

• The market is segmented into fuel grade and calcined grade.
• The growth of the segment can be attributed to its low-emission properties and high investments made in the development of the primary metal manufacturing industry. Increased use of calcinated petcoke and its growing demand for steel mills as a recarburizing agent will increase the industry prospects. Furthermore, changing trends towards coke's use in furs & boilers as a substitute for coal will have a positive impact on the timeline for its adoption.

By Physical Form Type

"The market for needle coke is estimated to grow by more than 10% during the forecast period."

• The market is segmented as sponge coke, purge coke, shot coke, and needle coke.
• The growing demand for steel and aluminum will foster the product demand, driven by the growing construction, automobile, and transportation sectors. In addition, rapid marketing and industrialization will further enhance industrial growth in the coming years, primarily in developing economies.

Regional Insights

"The petcoke industry was estimated at more than 2 billion in North America and is all set to grow significantly over the forecast period."

• Business growth is majorly driven by positive perspectives for the expansion of the primary metal industry and continuous investments made in refinery expansion. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s petcoke market realities and future market possibilities for the forecast period of 2022 to 2028. After a continuous interest in our petcoke market report from the industry stakeholders, we have tried to further accentuate our research scope to the petcoke market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The petcoke market is segmented into the following categories:

By Grade Type

• Fuel Grade
• Calcined Grade

By Physical Form Type

• Sponge Coke
• Purge Coke
• Shot Coke
• Needle Coke

By Application Type

• Power Plants
• Cement Industry
• Steel Industry
• Aluminum Industry
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation by any one of the physical form types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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