Petroleum Coke Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020
Albany, NY -- (SBWIRE) -- 06/08/2015 -- The rising demand for petcoke from energy-hungry cement and power industries will result in the global petroleum coke market registering a high single-digit growth rate over the next few years, says a latest study by Transparency Market Research. The report, titled 'Petroleum Coke Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020,' finds that the market will be worth US$ 24,117.9 million by 2020, rising from its 2013 value of US$ 13,288.0. This translates into a CAGR of 8.5% from 2014 to 2020.The key finding of the report is that the pet coke trade is increasingly swinging east with a heavy demand for fuel grade coke from rapidly industrializing countries in the Asia Pacific region. India and China are emerging as the leading consumers of petcoke as their demand for power continues to mount at an unprecedented pace.
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The report analyzes two major segments in the petroleum coke market – fuel grade coke and calcined coke. The former is projected to remain the predominant segment globally because it is regarded as being more cost competitive than coal and natural gas. The other key advantage that pet coke carries is its high calorific value as compared to coal and natural gas. Data analyzed in the report also shows that increasing aluminum production will trigger high demand for calcined pet coke. On the flip side, the pollution-causing attributes of petroleum coke and the detrimental effects of the same will likely impede the growth of the petcoke market. In this context, participants in the pet coke market can engage in petcoke gasification to produce clean power and enhance profit margins.
While fuel-grade petcoke constituted over 72.0% share of the petroleum coke market in 2013, calcined coke held 26.0% of the total market share in the same year. By 2020, the demand for calcined petroleum coke is projected to slip down marginally to reach 24.0% of the global market share. Calcined petroleum coke is widely used in the following industries: Aluminum, paints and colorings, paper, steel, and fertilizer.In 2013, Asia Pacific was reported to be the predominant petroleum coke market globally. About 32.0% of all revenue in the pet coke market came from Asia Pacific in the same year. This can be assigned to the massive demand for petcoke from China and India. The cement and power generation industries consume the bulk of petcoke in India and China.
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The findings of the report also reveal that Europe accounted for slightly less than a quarter (24.0%) of the global petroleum coke market in 2013. Asia Pacific and Europe will report the highest growth rate through the report's forecast period, making them lucrative regions for companies in the pet coke market.Notable participants in the petcoke market that have been profiled in the report are: BP Plc, Essar Oil Ltd, Chevron Corporation, Indian Oil Corporation Limited, ExxonMobil Corporation, Reliance Industries Limited, Saudi Arabian Oil Company, Royal Dutch Shell Plc, and Valero Energy Corporation.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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