H1 2023: The major producers of Petroleum coke during H1 2023 were Torrance Refining Co LLC, Reliance Industries Ltd (RIL), Phillips 66 Company, and Saudi Aramco. In January 2023, Panjin Haoye Chemical Co Ltd., a petrochemical company of China faced a sudden explosion when the factory workers were doing the maintenance operation at the facility. The explosion was due to the abrupt leakage of an alkylation unit pipeline leakage which had caught fire. In this accident more than 20 workers lost their lives and several others got injured. Panjin Haoye Chemical Co Ltd decided to permanent shut down their petrochemical complex in response to this drastic event. From the beginning of 2023, there was a diminished demand for petroleum coke in a few Asian countries. Weak demand from the construction sector pushed petroleum coke price in APAC. China and South Korea were particularly affected by the Lunar New Year holiday, as downstream end-user factories in China were closed for a few weeks. Petroleum Coke prices in China fell in May. The low price of feedstock crude oil in the Chinese market fell caused these reductions. Petroleum Coke prices in China increased significantly in April 2023 brought on by improved demand from the cement industry and increase in coal prices that month. On the other hand, in in May and June, the price of Petroleum Coke in the Indian market hiked due to rise in crude oil prices. It was backed by the government's emphasis on the infrastructure and construction activities, which raised demand for manufacturing cement and resulting in higher demand for petroleum coke.
India witnessed a hike in petroleum coke prices due to high demand from the downstream cement industry. It was backed by the Indian government's focus on infrastructure construction during H1 2023.
The global Petroleum Coke market has reached a volume of nearly 170 million tonnes in 2022 and is expected to grow at a steady CAGR of 4.29% during the forecast period until 2032.
Petroleum Coke, also known as Petcoke, is the ultimate solid product of the final cracking process, which is a thermo-based process that involves transforming long-chain carbon atoms into a shorter chain. Petcoke is rich in carbon and belongs to the family of cokes. Petroleum coke is extensively utilized in numerous sectors because of its low ash level and low toxicity. There are two kinds of Petcoke: Green Petcoke and Calcined Petcoke. Green Petcoke is used as fuel and calcined petcoke is used as a feedstock by manufacturers of a variety of products, including aluminium, paints & coatings, and colorants that are used by various industries. The fuel-grade variety of petroleum coke, also known as green coke, is mostly used to generate power and in cement kilns. Petcoke is employed as a feedstock by the iron and steel industry. Other niche applications of Petroleum Coke include Industry-specific electrodes for electrometallurgy, artificial graphite, aluminium anodes, TiO2 pigment, coke ovens, and foundaries.
Petcoke is utilized in many different industries, including building, aluminum, and other metals production, and others. Aluminium is used in numerous industries such as electronics & electricals, aviation, and automotive sectors. The increase in steel production brought on by progress in the train, automobile, highway, and transportation sectors have supported the expansion of the petroleum coke market. Fast-paced urbanization and growing energy demand by the population for domestic and industrial applications will project a higher demand of energy production, which is anticipated to favor the Petroleum Coke market in the forecast period. The global Petroleum Coke market is anticipated to reach 260 million tonnes by 2032.
Based on region, Asia Pacific dominates the Petroleum Coke market, followed by Europe. In 2022, Asia Pacific consumed approximately 41% of the market 2022. In cement kilns and power plants in developing nations, petroleum coke is widely used. With the increasing power consumption in countries including China and India, the demand for Petroleum Coke is anticipated to further rise in this region. The demand from cement industry with growing infrastructure investments is another factor anticipated to fuel the Petroleum Coke market across this region. Furthermore, the USA is the leading producer of Petroleum Coke followed by China with numerous petroleum refineries located in these regions.
Based on the end-use, the global Petroleum Coke market is segregated into Aluminium Industry, Cement Industry, Power, and Others. Among these, the Aluminium Industry is leading the market followed by the Cement Industry and both these industries cumulatively consumed approximately 60% of the market in 2022. Aluminium demand is being pushed by two factors: a rising demand for packaged goods and an increase in the usage of aluminium by automakers rather than stainless steel. Moreover, the growing demand for aluminium for manufacturing electric vehicles will also favor market expansion.
Major players in the production of Global Petroleum Coke are Torrance Refining Co LLC, Reliance Industries Ltd (RIL), Phillips 66 Company, Saudi Aramco, ExxonMobil, Chevron USA Inc, Essar Energy, Marathon Petroleum Corporation, Indian Oil Corporation Ltd., Citgo Petroleum Corp, BP, Rain Carbon Corp., Hyundai oilbank co, Oxbow Carbon LLC, Pemex, Petrobras, LyondellBasell, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Petroleum Coke which covers production, demand and supply of Petroleum Coke market in the globe.
• To analyse and forecast the market size of Petroleum Coke
• To classify and forecast Global Petroleum Coke market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Petroleum Coke market in the globe.
To extract data for Global Petroleum Coke market, primary research surveys were conducted with Petroleum Coke manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Petroleum Coke market over the coming years.
ChemAnalyst calculated Petroleum Coke demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical supply and demand of Petroleum Coke across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Petroleum Coke manufacturers and other stakeholders
• Organizations, forums and alliances related to Petroleum Coke distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Petroleum Coke manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Petroleum Coke market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
170 million tonnes
Market size Volume by 2032
260 million tonnes
Growth Rate
CAGR of 4.29% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in million tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Production by Company, Operating Efficiency, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share, Manufacturing Process,
Segments covered
By End-Use: (Aluminium Industry, Cement Industry, Power, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
I am satisfied with overall performance of ChemAnalyst. Weekly updates before the final report were especially helpful and reassuring. Additional requests on the interim and/or final reports were handled in a swift and professional manner
Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
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What is the expected global market size of Petroleum Coke in terms of volume for 2032?
Ans:
The global market size of Petroleum Coke is expected to grow to reach approximately 260 million tonnes by 2032.
Q2.
Which industries are the major consumers of the Global Petroleum Coke market?
Ans:
The Aluminium Industry, Cement Industry, and Power are the major consumers of the Petroleum Coke market.
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