Petroleum Coke Price Trend

Petroleum Coke Prices December 2023

The price of feedstock in the United States for Q4 2023 reached 678 USD/MT. In November, the price trend throughout the market, maintained consistency with an alight upsurge due to the novel inventories introduced among suppliers. However, in the month of December, the prices of petroleum coke remained stable on account of the steady demand from the construction sector, which was further evened out by a moderate supply of the product.

The price trend for feedstock in South Korea reached 347 USD/MT in the fourth quarter 2023. The region witnessed a medium demand for calcinated petroleum coke followed by a steady supply which further led to a bearish trend of the market.

In Brazil, the price of petroleum coke reached 675 USD/MT in Q4 2023. The Brazilian market for this product maintained admirable uniformity in product supply allowing smooth operations for businesses. 

Petroleum Coke Price Trend, Market Analysis, and News

IMARC's latest publication, “Petroleum Coke Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” presents a detailed examination of the petroleum coke market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of petroleum coke at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed petroleum coke price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting petroleum coke pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Petroleum Coke Market Analysis

The global petroleum coke market size reached US$ 25.3 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 45.2 Billion, at a projected CAGR of 6.50% during 2023-2032.

• The petroleum coke is a vital byproduct derived from the refining procedures majorly used as a fuel in numerous industries. One of the primary factors driving this market is constantly increasing demand from the energy industry. As developing economies across the globe grow on an exponential basis, the rate of energy consumption is parallelly increasing. Petroleum coke has a wide application base serving as a cost-friendly alternative for cement production, power generation, and numerous other industrial applications, particularly in regions where either coal is scare or expensive. According to a report published by GITNUX, 75% of pet coke produced worldwide is considered as fuel grade.
• Another factor significantly boosting the demand for petroleum coke includes the wide product utilization across industries such as construction, aerospace, and automotive. Additionally, pet coke is also majorly as a raw material for the smelting of aluminium. With the rising consumption of aluminium across the globe the demand for petroleum coke is drastically affected. As per the IMARC GROUP, the global market for aluminium is projected to grow at a CAGR of 4.71% during 2024-2032. Moreover, the rapid rate of urbanization, and increasing construction activities globally are also leading to an increased demand for aluminium, thereby positively influencing the petroleum coke market.
• Furthermore, the exponential growth witnessed in the steel industry recently is creating a positive market outlook for petroleum coke. According to the IMARC GROUP, the global steel industry has reached US$ 942.3 Billion in 2023, and is expected to reach US$ 1,279 Billion by 2032, projecting a CAGR of 3.3% during 2024-2032. In the steel industry, pet coke is mainly used for manufacturing steel through the process of blast furnace. Petroleum coke acts as a fuel and reducing agent in these furnaces assisting in the production of molten iron. Moreover, with the rising number of construction activities globally, the demand for steel is certain to increase, parallelly affecting the petroleum coke market.

Petroleum Coke News

The report covers the latest developments, updates, and trends impacting the price of petroleum coke, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the petroleum coke price trend.

Latest developments in the petroleum coke industry:

• In June 2022, ExxonMobil and Texas A&M University announced their collaboration on a procedure to create graphene by electrochemically exfoliating petroleum coke, which is a byproduct of crude oil refining.
• In February 2022, Reliance Industries Ltd., announced its objective to produce blue hydrogen in order to turn petroleum coke into synthesis gas.

Product Description

Petroleum coke also known as pet coke, refers to a carbonaceous solid procured from the refining procedure of crude oil. Traditionally, pet coke appears to be black or dark gray in color with a powdery or granular texture, however the appearance may vary based on its grade and processing method. It majorly possesses carbon (approximately 80-90%) with traces of sulfur.

Petroleum coke is usually produced through the thermal decomposition of heavy hydrocarbon fractions procured during the refining of crude oil. These fractions of heavy hydrocarbon are further subjected to temperatures in a delayed cooking unit which in turn breaks down the large hydrocarbon molecules leading to the formation of petroleum coke.

Petroleum coke is widely used in a wide array of industries including fuel in power generation, cement production, metal smelting, anode production, and fuel for industrial procedures.

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the petroleum coke price trend.

Global Petroleum Coke Price

The report offers a holistic view of the global petroleum coke pricing trends in the form of petroleum coke price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of petroleum coke, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed petroleum coke demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Petroleum Coke Price

The European petroleum coke market witnessed a surge in prices in the months of October and November during the fourth quarter of 2023. This rise in prices can be accredited to the stable demand from downstream construction sector and constricting tonnage supply. However, during the month of December, the price trend encountered a major dip due to the fall in new construction orders.

European petroleum coke prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.

This analysis can be extended to include detailed petroleum coke price information for a comprehensive list of countries.

North America Petroleum Coke Price

The North America petroleum coke market displayed stability throughout Q4 2023 with minimal shortages of materials. Additionally, the US market encountered steadiness in demand with a slight elevation owing to the fresh inventories entering the market among suppliers.

The analysis of petroleum coke prices in North America delves into the regional industry dynamics, encompassing the impact of local production capacities and the trade flows between North America and other significant global markets.

Specific petroleum coke historical data within the United States and Canada can also be provided.

Middle East and Africa Petroleum Coke Price

The petroleum coke market in the Middle East and Africa (MEA) region showcased a bearish sentiment owing to weaker demand fundamentals from downstream businesses. It has led to limited self-consumption and low exports, resulting in downward price trends. Furthermore, the region is experiencing challenging economic conditions and a liquidity crisis, leading to a further decline in market activity and purchasing power.

The report explores the petroleum coke pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on petroleum coke prices for countries can also be provided.

Asia Pacific Petroleum Coke Price

The Asia Pacific petroleum coke encountered a stable environment throughout the fourth quarter of 2023. The region was vastly affected by complicated interplay of economic indicators and global energy trends. The electrode market displayed weakness being on the negative end, due to which a lack of support for the pricing of medium sulfur conventional calcined coke was realized.

The petroleum coke pricing trends in Asia Pacific are examined, reflecting the role of the region as a major global production hub and consumer market, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.

This petroleum coke price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Petroleum Coke Price

The analysis of petroleum coke prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of petroleum coke pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
• The study examines factors affecting petroleum coke price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The petroleum coke price charts ensure our clients remain at the forefront of the industry.