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Base Year: 2024
Companies covered: 15
Tables & Figures: 33
Countries covered: 2
Pages: 126
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North America Petcoke Market
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North America Petcoke Market Size
The North America petcoke market was estimated at USD 8.6 billion in 2024 and is expected to reach USD 11.3 billion by 2034, growing at a CAGR of 2.8% from 2025 to 2034. The rising need to process heavy crude oil is fueling a notable increase in refinery capacity, which in turn is set to boost regional demand for petroleum coke. Petcoke has gained widespread use in industries like cement and aluminum manufacturing, thanks to its high energy content and low ash levels.
This increase in use is anticipated to improve market dynamics, particularly with the increase of infrastructure spending in different areas. The EPA and other governmental agencies have deemed petcoke waste as non-hazardous, which further supports its use. Further, the market is benefiting from the increase in steel production due to increased industrial and commercial activities, and petcoke’s crucial role in electrode production for the steel industry.
In addition, the introduction of stricter emission limits on coal supervised burning in the power and manufacturing sectors will further accelerate the use of petcoke as a cleaner fuel substitute and will aid continuing petcoke market expansion.
North America Petcoke Market Trends
Petcoke is a byproduct of the coking process used in refining and is generated in significant amounts by many U.S. refineries that deal with heavy crude oil. These practices are increasingly becoming common, and more and more refineries are expected to begin adopting these methods in recent years.
In the U.S., the increase in petcoke production is directly linked to the domestic refineries increasing the outputs of their coking units. These changes stem from the additional profit that can be obtained from lifting the supply of cheaper heavy crude oil from Canadian oil sands and other regions globally, which enhances the value.
The Department of Environmental Protection (EPA) has also implemented more rigid regulations for the coal industry, specifically regarding waste, water use and emissions under the Clean Air Act. These updates include substantial changes to the discharge of effluent industrial waste containing contaminants which increases the cost of coal-based electricity generation.
In addition, a number of new policies from EPA also deal with the management of carbon dioxide emitted by coal burning power plants which will most likely deepen the contraction of coal-based electricity generation while petcoke will be increasingly used as an alternative fuel.
North America Petcoke Market Analysis
North America Petcoke Market Share
Top 5 players in the North American petroleum coke industry include ExxonMobil, Shell plc, Saudi Aramco, BP, and Chevron Corporation, among others. The industry is defined by the presence of dominant multinationals in addition to local players, which needs competition and innovation to be fostered. Enhanced competition enables efficient operations, which benefits the end users in terms of technological access and lower prices for various products and services.
Petroleum coke market players are changing their strategies to adapt to global demand changes, environmental policies, and shifts in the crude oil slate. The strategic focus on refining capability enhancements entails increasing the versatility of crudes processed to include more heavy sour crudes, which has the potential to increase petcoke production, though often at a higher ash level. There's also a shift towards new coking and upgrading units for improved product quality and yield.
North America Petcoke Market Companies
Major industry players operating across the North America petcoke market include:
North America Petcoke Industry News
This North America petcoke market research report includes in-depth coverage of the industry with estimates & forecast in terms of “MT” & “USD Million” from 2021 to 2034 for the following segments:
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