- Growing usage of petcoke as a cost-effective fuel in the power and energy sector is one of the main drivers of the market.
- Regulations and health and environmental concerns are likely to restrain the market.
- The fuel grade coke segment in the global petroleum coke market is expected to account for the major revenue share.
Global Petroleum Coke industry is witness to expand with 8.00% CAGR over the forecast period 2019-2028 and was valued at around $17.98 billion in 2017.
The Study on International Petroleum Coke market, 2018 contains an inception on new trends that can assist the businesses implementing in the Petroleum Coke industry to comprehend the market and make the policies for their business evolution accordingly. The Petroleum Coke research report analyze the market size, Petroleum Coke industry share, chief drivers for extension, major sectors, and CAGR.
Petroleum Coke firmly established international traders are giving strong competition to new comers in the Petroleum Coke market as they battle with technological advancement, dependability and quality problems. The Petroleum Coke report will give the answer to questions about the current Petroleum Coke market development and the rival scope, opportunity, Petroleum Coke cost and more.
The global petroleum coke market was valued at $16.7 billion in 2016 and is projected to reach $36.2 billion in 2026 at a CAGR of 8.1% from 2017 to 2026. The fuel grade coke segment in the global petroleum coke market is expected to account for the major revenue share of 75.0% in 2017, as it can be used as an alternative to steam coal in various power plants, and its high heat and low ash content makes it an ideal heat source for power generation.
Petroleum coke is a solid material and a byproduct of the coking unit, a residual fuel upgrader. The quality of the coke depends upon the crude oil processed in the refinery. Cokes produced from sour crude oil are high in sulfur and trace metals. Due to the physical properties of petcoke, it is majorly used in energy applications and in other industrial applications. Fuel grade petcoke is the largest consumed product type, due to its wider energy applications in blast furnace and power plants.
The growth of the global petroleum coke market is driven primarily by factors such as growing usage of petcoke as a cost-effective fuel in the power and energy sector, and in cement and energy industries, and for production of aluminum and steel etc.
However, regulations and health and environmental concerns associated with storage and handling of petcoke is likely to act as restraining factor for the growth of the global petroleum coke market over the forecast period.
Leading Petroleum Coke Industry Players Included In The Report Are: Chevron Corporation, Essar Oil, BP Plc, HPCL, ExxonMobil Corporation, Indian Oil Corporation Limited, Saudi Arabian Oil, Reliance Industries, Chevron Corporation, Royal Dutch Shell
Leading Petroleum Coke market competitors influencing the market are involved in the analysis along with their SWOT analysis and Petroleum Coke business policies. The Petroleum Coke report also emphasized on chief industry competitors with data such as Petroleum Coke company profiles, products, and services provides commercial data on foremost years, key improvement in previous years.