Petroleum Coke (Petcoke) Market

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• COVID-19 Impact Tracker

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PETROLEUM COKE (PETCOKE) MARKET ANALYSIS

• Petroleum Coke (Petcoke) Market, By Product Type
  (Fuel Grade Coke, Calcined Coke), By End-use
  (Calcining Industry, Power Plants, Cement Kilns,
  Blast Furnaces, Others), and By Region (North
  America, Europe, Asia Pacific, Latin America,
  Middle East Africa) - Size, Share, Outlook, and
  Opportunity Analysis, 2020 - 2027

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Petroleum coke is a by-product of crude oil and
is look like solid rock materials. Petroleum coke
is basically used across various industries as an
energy source. Power generation is key end-user
of the petcoke and other prominent users of
petroleum coke are metal, construction, aluminum,
blast furnace, and steel industry. The global
petroleum coke (petcoke) market is projected to
reach around US 42,779.8 million by the end
of 2027, in terms of revenue, growing at CAGR of
8.5 during the forecast period (2020-2027). Driv
ers Growing demand from cement and power
generation industry is primarily fueling the
market growth of the petroleum coke. Fuel
grade petcoke is widely used in the cement and
power generation industry. The expanding cement
and power generation industry across developing
economies such as China and India is also
contributing to the market growth of petroleum
coke. Moreover, increasing export of the
petroleum coke is again propelling the market
growth.
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Figure 1. Global Petroleum Coke (petcoke) Market
Share () in terms of Value, By Region, in 2019
Asia Pacific region dominated the global
petroleum coke (petcoke) market in 2019,
accounting for 35.6 share in terms of value,
followed by Europe and North America,
respectively.
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Market Restraints The adverse environmental and
health effects of the petcoke is projected to
hamper the market growth. It has high sulfur
content which has adverse effects on the aquatic
as well as terrestrial environments due to this
government has imposed various strict regulation
to limit the use of petcoke.
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Market Opportunities Growth in infrastructure
development across the Asia Pacific region is
projected to bring new market opportunities in
the near future. According to the report by PwC,
the Asia Pacific infrastructure market is
expected to grow 7 - 8 percent a year over the
next decade, reaching US5.36 trillion a year by
2025 representing 60 of the world total. Thus,
growth in the construction industry in Asia
Pacific region is expected to propel the market
growth of petcoke. Increasing investment by
major players in enhancing the production
capacity of crude oil is expected to offer
lucrative opportunities. For instance, in January
2019, ExxonMobil announced that that it will
increase crude refining capacity by more than 65
percent, or 250,000 barrels per day. Thus, the
growing production of crude oil is expected to
foster the market growth of the petcoke over the
forecast period. 
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Figure 2. Global Petroleum Coke (petcoke) Market
Opportunity Analysis
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Market Trends The shifting trend of using
petcoke in medical, electrical components, and
ceramics application due to its various
advantages offered is projected to propel the
market growth. Petcoke has anti-corrosion
property, is lightweight, highly ductile, and
also has excellent electrical thermal
conductivity. Moreover, the rapid growth of
electronic industries is also projected to spur
the market growth of petcoke. Distribution and
supply agreement of petcoke is a major trend in
the market and this is projected to act as a
catalyst to the growth of the market. For
instance, in July 2019, Arabian Cement Company
(ACC) announced signing an agreement with the
Egyptian Refining Company, stipulating to supply
local petroleum coke (pet coke) with an annual
volume tons as of July 2019. The goal of this
agreement to reduce the production costs of the
petcoke.
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Figure 3. Global Petroleum Coke (Petcoke) Market
Share () in terms of Value, By End-use, in 2019
On the basis of end-use in 2019, the
confectionery segment has accounted the largest
market share of 33.5 in terms of value, followed
by cement kilns and power plants segment
respectively.
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Global Petroleum Coke (petcoke) Market - Impact
of Coronavirus (Covid-19) Pandemic Several
refineries have reduced supply of petroleum coke
due to refinery production cuts, falling
consumption of gasoline and jet fuel amid the
coronavirus pandemic. The prices of petroleum
coke has fallen due to low crude oil prices.
End-use industries can benefit from low petroleum
coke prices and help to increase the profit
margins of these companies. In March 2020, the
Chinese Ministry of Finance offered tariff
exemptions on U.S. petcoke imports as impact of
COVID-19 affected domestic petcoke production in
the country. According to Coherent Market
Insights, petroleum coke market is expected to
grow at a lower CAGR between 2020 and 2021.
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• Competitive Section
• Company Names 
• BP Plc
• Chevron Corporation
• Essar Oil Ltd.        
• ExxonMobil Corporation
• HPCL - Mittal Energy Limited
• Indian Oil Corporation Limited
• Reliance Industries Limited
• Royal Dutch Shell Plc
• Saudi Arabian Oil Co.
• Valero Energy Corporation
• Few Recent Developments
• In January 2019, ExxonMobil announced that that
  it will increase crude refining capacity by more
  than 65 percent, or 250,000 barrels per day.

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