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
Breakup by Application:
Breakup by Region:
Middle East and Africa
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?