[188 Pages Report] The Petroleum Coke Market size was estimated at USD 37.87 billion in 2023 and expected to reach USD 40.06 billion in 2024, at a CAGR 5.92% to reach USD 56.67 billion by 2030.
Petroleum coke is a solid carbon material derived from the thermal decomposition of heavy petroleum residues. These residues are obtained through various refining processes, such as vacuum distillation, delayed coking, and visbreaking. The utilization of petroleum coke is increasing for power generation owing to the low cost compared to fossil fuels. Additionally, rapid industrialization and expansion of heavy industries, such as iron & steel manufacturing, cement production, and emerging applications in advanced materials technologies, including lithium-ion batteries, are accelerating the demand for petroleum coke. However, fluctuating cost of crude oil and environmental concerns associated with production of petroleum coke is expected to impede its adoption by the end-use sectors worldwide. Besides, rise in trade and relaxation in taxation are expected to encourage the use of petroleum coke by end-use industries across the globe.
The significant presence of large refineries generates significant amounts of pet coke as a byproduct in the Americas. Factors, such as technological advancements in production processes, abundant availability of raw materials, such as heavy oils and feedstock, and supportive government regulations contribute to the growth of the petroleum coke industry in the Americas. Significant demand owing to the increase in cement and power generation industries is accelerating the use of petroleum coke in the APAC region. The rise in power generation plants and well-established refineries is creating immense potential for the growth of the petroleum coke market in the EMEA region. Additionally, supporting innovation in cleaner production methods and extensive research on alternative uses of pet coke are anticipated to encourage the adoption of petroleum coke by the end-use sectors globally.
The FPNV Positioning Matrix is pivotal in evaluating the Petroleum Coke Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Petroleum Coke Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Venezuela’s PDVSA signs two new contracts to export petroleum coke
PDVSA, the Venezuelan Government-owned energy company, has entered into two new contracts for the export of petroleum coke. These contracts entail the export of up to 1.6 million metric tonnes of petroleum coke in 2023, with 1 million metric tonnes earmarked for Latif Petrol in Turkey during the second half of the year. These agreements are of significant importance as they can replace nearly 70% of the exports that Maroil Trading was originally contracted to transport this year. The signing of these contracts demonstrates PDVSA's commitment to expanding its market presence and ensuring the continuity of its petroleum coke exports. [Published On: 2023-07-21]
Govt permits import of pet coke as raw material for lithium-ion batteries
The government of India granted permission for the import of petroleum coke (pet coke) exclusively for the production of graphite anode material in lithium-ion batteries. The import of needle pet coke (NPC) is not restricted when used as a raw material or feedstock for manufacturing graphite anode material for lithium-ion batteries. It is crucial to emphasize that the primary use of lithium-ion batteries is in electric vehicles. Therefore, the import of NPC should be solely for this specific purpose and not for trading or any other applications. [Published On: 2023-06-02]
The report delves into recent significant developments in the Petroleum Coke Market, highlighting leading vendors and their innovative profiles. These include ATHA Group, Bathco Ltd, Bharat Petroleum Corporation Limited, BP PLC, Cenovus Energy Inc., Chennai Petroleum Corporation Limited, Chevron Corporation, China Petroleum & Chemical Corporation, CITGO Petroleum Corporation, Cocan (Hubei) Graphite Mill Inc., Exotron Thermal,, Graphite India Limited, Henan Refuel Petroleum Equipment Co.,Ltd., India Carbon Ltd, Indian Oil Corporation Limited, LLC "EL 6", Marathon Petroleum Corporation, MOL GROUP, N G MINCHEM Private Ltd, NIPPON COKE & ENGINEERING. CO., LTD., Oxbow Corporation, PETROLEUM COKE INDUSTRIES CO., Phoolchand Bhagatsingh, Pioneer Carbon, Prithvi Chemical Manufacturing Company Pvt. Ltd., Rain Carbon Inc., Rain Industries Limited, Reliance Industries Limited, SC Fuels, Shamokin Carbons, Shri Satchidanand Petroleums Pvt. Ltd., TABOIL CORPORATION LLC, Trammo, Inc., Valero Marketing and Supply Company, and Viva Carbon Pvt. Ltd.
This research report categorizes the Petroleum Coke Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Type
- Calcined Coke
- Fuel Grade Coke
- Application
- Blast Furnace
- Calcining
- Cement Kilns
- Chemical Manufacturing
- Fertilizers & Paints
- Power Plants
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
- What is the market size and forecast of the Petroleum Coke Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Petroleum Coke Market?
- What are the technology trends and regulatory frameworks in the Petroleum Coke Market?
- What is the market share of the leading vendors in the Petroleum Coke Market?
- Which modes and strategic moves are suitable for entering the Petroleum Coke Market?
- Preface
- Research Methodology
- Executive Summary
- Market Overview
- Market Insights
- Petroleum Coke Market, by Type
- Petroleum Coke Market, by Application
- Americas Petroleum Coke Market
- Asia-Pacific Petroleum Coke Market
- Europe, Middle East & Africa Petroleum Coke Market
- Competitive Landscape
- Competitive Portfolio
- List of Figures [Total: 20]
- List of Tables [Total: 200]
- List of Companies Mentioned [Total: 35]
Petroleum Coke as a Feedstock for Fertilizers:
Petroleum coke is used as a feedstock in the production of ammonia and urea, which are critical components of fertilizers. The high sulfur and heavy metals content in petroleum coke makes it suitable for this application, as the sulfur and heavy metals in the petroleum coke are converted into sulfur and metal oxides that serve as catalysts for the ammonia and urea synthesis process. Furthermore, the high carbon content in petroleum coke can be used to produce hydrogen through the steam-reforming process, which is also used in fertilizer production.
Cost-Effective Alternative Fertilizer Ingredient:
Petroleum coke is a cost-effective alternative to other fertilizer ingredients, such as natural gas and coal. In most regions of the world, natural gas prices are high, making it more expensive to use as a feedstock for fertilizer production. Coal is also a viable option, but it is less desirable due to its high sulfur content. Petroleum coke, on the other hand, is abundant and inexpensive, making it an attractive feedstock for fertilizer production.
Environmental Concerns:
The production and use of petroleum coke raise environmental concerns due to its high sulfur and heavy metals content. However, regulations have been put in place to limit its use in certain applications, including power generation and cement production. In fertilizer production, the use of petroleum coke is heavily regulated to minimize environmental impact. The heavy metals and sulfur in petroleum coke are converted into oxides during the production of ammonia and urea, which reduces their impact on the environment.
Future Outlook:
The demand for petroleum coke in fertilizer production is expected to increase due to the growth of the global population and the need for more food production. As a cost-effective alternative to other fertilizer ingredients, petroleum coke will remain an attractive feedstock for fertilizer production. However, there is a growing concern about the environmental impact of petroleum coke, which may lead to increased regulation and limitations on its use in fertilizer production.
The extensive use of petroleum coke in fertilizer production is due to its high sulfur and heavy metals content, which are converted into sulfur and metal oxides during the production of ammonia and urea. As a cost-effective alternative to other fertilizer ingredients, petroleum coke is an attractive feedstock for fertilizer production. However, there are environmental concerns associated with its production and use, which may lead to increased regulation and limitations on its use in the future. Overall, petroleum coke plays a crucial role in fertilizer production and provides an affordable and sustainable option for meeting global fertilizer demand.
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