Global Petroleum Coke Industry Insights – 2017

Global Petroleum Coke Market size is set to witness substantial growth owing to increasing use of petroleum coke in power generation and cement industries Cement industry is the primary consumer of pet coke, accounting for a large proportion of the total demand of the product and any deviation in the consumption pattern of the cement industry reflects proportionally in the petroleum coke market demand.

Rapid expansion in steel production owing to growth in the construction, automobiles, railways, highway and transportation segments has further complemented the petroleum coke market share. Production of steel in India is powered considerably as the Government of India has imposed Minimum Import Price (MIP) on steel products.

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Refineries and petrochemical companies’ dependent on natural gas and deterred by high price of gas and liquid fuels are focusing on petcoke as a fuel for confined power generation and an asset for manufacturing certain chemicals. Petcoke finds applications in industries including paints and coatings, steel, paper, textiles, bricks and fertilizers, which will boost the petroleum coke market share during the forecast timeline.

Increasing production of pet coke is augmented by relatively low ash content, high caloric value and minimal toxicity. Refineries are employing different coking operations to obtain petcoke as a desirable co-product of numerous distillation processes used in heavy crude oil refining which further strengthen the petroleum coke market. The major variables of production include availability of different types of heavy and light crude oils and their cost benefit analysis. Production of different grades depends on the coking process and the available crude oil.

Some of the byproducts of petroleum coke can have hazardous effect on human health and environment, which may hinder the growth of petroleum coke market in coming years. High coking capacity in North America has led to serious concerns over its potential impact. Environmental concerns due to rising pollution need to be strongly dealt with by companies through improving the manufacturing process of numerous grades. 

Some of the key players in petroleum coke market includes Saudi Arabian Oil, Essar Oil, Reliance Industries, Chevron Corporation, Royal Dutch Shell, BP, ExxonMobil, Valero Energy Corporation and Indian Oil Corporation, Trammo, Marathon Petroleum, Oxbow Corporation, Aminco Resources, Shamokin Carbons.

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