Petcoke Market Size By Grade (Fuel Grade, Calcined Grade), By Physical form (Sponge Coke, Purge Coke, Shot Coke, Needle Coke), By Application (Power Plants, Cement Industry, Steel Industry, Aluminum Industry, Others), Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2017 – 2024
Published Date: Aug 2017 | Report ID: GMI1186 | Authors: Ankit Gupta, Aditya Singh Bais
Petcoke Market size in 2016 was valued over USD 11 billion and the annual capacity is set to exceed 190 thousand metric ton by 2024.
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Rapid industrialization along with increasing demand for aluminum smelter anodes for fabrication purpose will drive the petcoke market size. For instance, as per the International Aluminum Institute, China primary aluminum production witnessed an increase from 2,085 thousand metric tones in April 2013 to 2,711 thousand metric tones in July 2015. Calorific content of petcoke ranges in between 7000-8500 Kcal/kg when compared to lignite which ranges from 2800-3800 Kcal/kg. Low ash content and high calorific value are some of the eminent characteristics fueling the product demand.
Surging investments toward expansion of refining capacities to cater the growing demand for petroleum products will boost the business growth. For instance, in 2019, ExxonMobil announced the expansion of Beaumont, Texas refinery by constructing a new unit to increase crude refining capacity by 250,000 barrels per day. The refinery is anticipated to start operation by 2022. Ongoing investments toward development of key industries including aluminum, cement and steel will drive the product demand over the forecast period.
Adoption of stringent government regulations aimed toward minimizing the carbon footprint will propel the global petcoke industry growth. Availability of mediocre quality of crude along with low economic costs of primary fuel sources will complement the business landscape. In addition, ongoing initiatives to enhance productivity across multiple industries coupled with major economic transformation owing to rapid commercialization and industrialization will positively influence the industry outlook.
|Base Year:||2016||Market Size in 2016:||11 Billion (USD)|
|Historical Data for:||2013 to 2016||Forecast Period:||2017 to 2024|
|Forecast Period 2017 to 2024 CAGR:||10%||2024 Value Projection:||25 Billion (USD)|
|Pages:||220||Tables, Charts & Figures:||457|
|Geographies covered (21):||U.S., Canada, UK, Spain, Russia, France, Germany, Italy, Greece, Japan, China, India, Australia, Tunisia, Turkey, Morocco, Brazil, Chile, Argentina, Mexico, Venezuela|
|Segments covered:||Grade, Physical form, Application and Region|
|Companies covered (21):||Exxon Mobil Corporation, Royal Dutch Shell, Saudi Aramco, BP, Essar Oil, Reliance Industries, Chevron Corporation, Valero Energy Corporation, Indian Oil Corporation, Trammo, Marathon Petroleum, Oxbow Corporation, Aminco Resources, HPCL-Mittal Energy Limited (HMEL), Bharat Petroleum, Shamokin Carbons, Husky Energy, Rain CII, Carbograf, Cocan Graphite, Atha Group|
|Pitfalls & Challenges:||
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Petcoke Market, By Grade
Calcined petroleum coke (CPC) market will witness growth on account of its low emission properties coupled with soaring investments toward the development & expansion of the primary metal manufacturing industry. Increasing utilization of calcined petcoke as a recarburizing agent along with its growing demand across the steel mills will enhance the industry outlook. Moreover, shifting trend toward use of coke as a substitute of coal in furnaces & boilers will positively influence its adoption over the forecast timeline
Fuel petcoke industry is set to witness gains on account of ongoing investments toward expansion of cement manufacturing capacities and development of thermal power plants. Low ash content and high heat & gross calorific value are some of the key features that favor the adoption of fuel grade petcoke over other available alternatives.
Petcoke Market, By Physical Form
Needle petcoke market is anticipated to grow over 10% by 2024. Growing demand for steel and aluminum driven by flourishing construction, automobiles and transportation sector will stimulate the product demand. In addition, rapid commercialization & industrialization, primarily across developing countries will further augment the industry growth in the coming years.
Sponge petroleum coke market is anticipated to witness growth on account to its extensive applications across the metal production & power industry. Burgeoning demand for infrastructural material including steel, aluminum and related products along with rising energy requirements will complement the industry outlook.
Petcoke Market, By Application
Petroleum coke market from aluminum industry is set to witness substantial growth by 2024. High ductility, anti-corrosion property, light weight and excellent thermal & electrical conductivity are some of the key underlying properties of aluminum which makes it suitable for key industries including medical, electrical components and ceramics. In addition, rapid urbanization across emerging economies has created an incremental demand for the metal, which will drive the business growth over the forecast timeframe.
Petcoke demand across power plants will witness growth owing to increasing adoption of fuel with high energy content along with the growing demand for electricity across emerging economies. High fuel stability and less risk of combustion during transportation are some of the prominent factors favoring the product adoption.
Petcoke Market, By Region
North America petcoke industry in 2016, was valued over 2 billion and is set to witness significant growth by 2024. Positive outlook toward the expansion of primary metal industry coupled with the ongoing investments toward expansion of refineries will drive the business growth. Refining industry across the region is characterized by growing installation of delayed coker units along the U.S. Mid-West and Gulf Coast which will further stimulate the product demand.
Demand for petcoke across Asia-Pacific is anticipated to witness robust growth on account of growing demand for cement to support ongoing expansion of urban centers and development of public infrastructure. Surging investments toward the development of new commercial and industrial facilities coupled with growing measures to reduce the dependency on fossil fuels including coal will further propel the product adoption.
Competitive Market Share
Eminent players across the industry comprises of Carbograf, BP, Cocan Graphite Trammo, ExxonMobil, Marathon Petroleum, Reliance, Atha Group, Saudi Aramco, Rain CII, Essar Oil, Oxbow Corporation, Shamokin Carbons, Bharat Petroleum, Aminco Resources, HPCL-Mittal Energy (HMEL), and Husky Energy
Petcoke Industry Background
Petcoke is derived from the crude refining process and is a black colored solid mainly composed of carbon and posses minimal & elemental amounts of sulfur, non-volatile inorganic compounds and metals. Low content of ash & volatile matter and high calorific value are some of the key underlying factors favoring product adoption.
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