Petcoke Market Report

Market Insights

Petcoke Market was projected to grow from USD 18 billion in 2021 to USD 34.63 billion in 2028 at a CAGR of 9.8% during the forecast period.

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What is Petcoke?

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.

Key Players

Some of the key players in the petcoke market are-

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

Market Dynamics

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One of the key factors driving the 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.

Segments Analysis

By Grade Type

The market is segmented as fuel grade and calcined grade. Calcined petroleum coke is expected to lead the market during the forecast period. The growth of the segment can be attributed to its low emission properties and high investments made in the development of 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 is segmented as sponge coke, purge coke, shot coke, and needle coke. The market for needle petcoke is estimated to grow by more than 10% during the forecast period. The growing demand for steel and aluminium will foster the product demand, driven by the growing construction, automobiles and transportation sectors. In addition, rapid marketing and industrialization will further enhance industrial growth in the coming years, primarily in the developing economies.

By Region

The petcoke industry was estimated at more than 2 billion in North America in 2016, 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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Segmentation

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 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 the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Overview, industry life cycle and supply chain analysis.
• Environment analysis: Growth drivers and constraints, Porter’s five forces and SWOT analysis.
• Trend and forecast analysis.
• Segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Research Methodology

This report offers high-quality insights and is the outcome of 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 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Customization Option

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.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.