Petroleum Coke Market Share, Size, Growth, Opportunity and Forecast 2020-2025

Press Release:

Global Petroleum Coke Market to Witness Moderate Growth During 2020-2025, Spurred by Increasing Demand for Energy Production

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Petroleum Coke Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

Market Overview:

The global petroleum coke market grew at a CAGR of around 8% during 2014-2019. Petroleum coke, or pet coke, refers to a solid carbon byproduct of the crude oil distillation process that is commonly used as a fuel. In comparison to the traditionally used fossil fuels, it has a high-power output value and low ash content, and thus highly cost-efficient. Some of the common types of petroleum coke include needle, sponge, honeycomb and shot coke. It exhibits immense chemical stability and is primarily used to manufacture anodes, electrodes, metals and bricks, cement, fertilizers, etc.

Rapid industrialization, especially in the developing economies, is one of the key factors driving the growth of the market. The increasing emphasis on reducing dependency on fossil fuels for energy generation is also acting as another major growth-inducing factor. Furthermore, significant infrastructural developments across the globe are creating a positive outlook for the market. The rising requirement for steel for various industrial applications, such as the construction of railways, highways and roads, has resulted in increasing utilization of petroleum coke. In line with this, calcined pet coke is widely used as a substitute for coal in steel mills, furnaces and burners, which is also augmenting the market growth. Additionally, various product innovations, such as the development of green pet coke, are acting as other growth-inducing factors. It is manufactured by processing decaying coke and has a lower sulfur content, higher ductility, resistance to corrosion and thermal and electrical conductivity. This, along with the implementation of favorable government policies to minimize carbon footprint, is anticipated to drive the market further. Looking forward, IMARC Group expects the global petroleum coke market to continue its moderate growth during the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global petroleum coke market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, type and application.

Breakup by Type:

Fuel Grade Coke
Calcined Coke

Breakup by Application:

Power Plants
Cement Kilns
Steel
Aluminium
Fertilizer
Others

Breakup by Region:

North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being BP Plc, Chevron Corporation, ConocoPhillips, Exxon Mobil Corporation, HPCL - Mittal Energy Limited, Indian Oil Corporation Ltd., Marathon Petroleum Corporation, Royal Dutch Shell Plc, Saudi Arabian Oil Co., Trammo Inc. and Valero Energy Corporation.

Key Questions Answered in This Report:

How has the global petroleum coke market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global petroleum coke market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global petroleum coke market and who are the key players?
What is the degree of competition in the industry?