Overview and Scope
Petroleum coke (also known as pet coke) is a by-product produced when tar sands bitumen is processed into crude oil. It is known as green coke until it is thermally processed and converted into crystalline or calcined pet coke, which is utilized in the production of electrodes for steel and aluminum extraction.
Sizing and Forecast
The petroleum coke market size has grown rapidly in recent years. It will grow from $27.64 billion in 2023 to $31.53 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The growth in the historic period can be attributed to strong economic growth in emerging markets, growth in cement production industries, and rapid expansion of steel production. factors that negatively affected growth in the historic period were the coronavirus pandemic, stringent environmental regulations and volatility in crude oil prices.
The petroleum coke market size is expected to see rapid growth in the next few years. It will grow to $53.8 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%. The growth in the forecast period can be attributed to the rising demand for energy, the increasing demand for aluminum, and rising infrastructure development . Major trends in the forecast period include environmentally friendly coke production, rising investments, research and development activities and strategic partnerships and collaborations.
Order your report now for swift delivery, visit the link:
https://www.thebusinessresearchcompany.com/report/petroleum-coke-global-market-report
Segmentation & Regional Insights
The petroleum coke market covered in this report is segmented –
1) By Type: Fuel Grade, Calcined Coke
2) By Physical Form: Needle Coke, Sponge Coke, Shot Coke, Honeycomb Coke
3) By Application: Power Plants, Cement Kilns, Steel, Aluminium, Fertilizer, Other Applications
Asia-Pacific was the largest region in the petroleum coke market in 2023. The regions covered in the petroleum coke market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Intrigued to explore the contents? Secure your hands-on a free sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6055&type=smp
Major Driver Impacting Market Growth
The rise in the production of steel is expected to propel the growth of the petroleum coke market going forward. Steel output has risen globally, owing to growing demand from railways, highway buildings, and automobiles. Petcoke is used as a feedstock in the iron and steel industry, where it is blended with coking coal during the coke-making process. The use of pet coke results in a 16% reduction in coking coal use and a net reduction in energy intensity of just over 1%. For instance, according to IBEF, an Indian Government export promotion agency for the international distribution and sale of Indian products, in December 2021, the production of finished steel and crude steel stood at 94.66 million tonnes (MT) and 102.49 million tonnes (MT), respectively. In addition, crude steel production is expected to reach 112-114 million tons, an increase of 8-9% YoY in the financial year 2022. Therefore, the rise in the production of steel owing to the development of railways, highway construction, automobiles, and transportation segments is driving the growth of the petroleum coke market.
Key Industry Players
Major companies operating in the petroleum coke market report are BP PLC, Saudi Arabian Oil Co., Phillips 66 Company, Reliance Industries Limited, Valero Energy Corporation, Indian Oil Corporation Ltd., PJSC Luke Oil, Chevron Corporation, Marathon Petroleum Corporation, HPCL – Mittal Energy Limited, Bharat Petroleum Corporation Ltd (BPCL), GAIL India Ltd, Hindustan Petroleum Corporation Ltd (HPCL), Indian Oil Corporation Ltd, Linde India Ltd, Oil and Natural Gas Corporation Ltd (ONGC), Reliance Industries Ltd, China National Petroleum Corporation, China National Offshore Oil Corporation, Vasundhra Enterprises, Psk Kirzinskii, Monolit, Esproenko LLC, Servistransneftegaz, M/S Ram Janam Singh & Company, Amw Trade, Keshav Traders, S V Ispat Private Limited, Haibo Lupu Business Consulting Co Ltd, Sinopec, BPA British Pipelines Agency, CLH Compañía Logística de Hidrocarburos, GPSS Government Pipelines and Storage System, LCC Lissan Coal Company, OPA Oil and Pipelines Agency, ExxonMobil, Valero, Chevron, British Petroleum, PBF Energy, Phillips 66, Lukoil-Zapadnaya Sibir, Novatek-Yurkharovneftegaz, Oil Tekhnolodzhis, Gazprom Pererabotka, SAE Manufacturing Specialties Corp, WD Energy Group, Atmos Technologies, Carbon Graphite Materials Inc, ReGo Trading Inc, Anker Industries, River Materials Inc, Rain Carbon Inc, Saint Jean Carbon, Shamokin Filler Co Inc, Rain CII Carbon, LA Ash Inc, Carbograf, Asbury Carbons, ConocoPhillips, Unimetal Industria Comercio E Empreendimentos Ltda, Oxbow Brasil Energia Industries, Petrocoque: Indústria Petroquímica, Green Light Agenciamentos De, Shurooq Al Shams International Fzco, World Metal Alloys Fzc, Petroleum Coke, Rawa Chemicals, Fahad International Trade Company, Tajanos Group, Production Plus Co, Durrans RMS, MOL Group
The petroleum coke market report table of contents includes:
1. Executive Summary
2. Petroleum Coke Market Characteristics
3. Petroleum Coke Market Trends And Strategies
4. Petroleum Coke Market – Macro Economic Scenario
5. Global Petroleum Coke Market Size and Growth
.
.
.
32. Global Petroleum Coke Market Competitive Benchmarking
33. Global Petroleum Coke Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Petroleum Coke Market
35. Petroleum Coke Market Future Outlook and Potential Analysis
36. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
