Pet coke can be described as a byproduct of crude oil refining and other cracking processes. Different types of this product can be produced by varying the coke operation temperature, time length and the quality of raw material which is used.
According to MarketIntelReports' “ Global Petcoke Industry Market Research Report ”:
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The Petcoke Market has different grades like sponge coke, needle coke, shot coke, and catalyst coke. Applications of raw petroleum coke are production of Titanium Dioxide for paint, production of Urea and Ammonium Nitrate for the paper industry.
Cement kiln and power plants are also the end users of petcoke. Compared to coal, this product is cost effective with a high calorific value and low content of ash.
Scope & Regional Forecast of the Petcoke Market
The Petcoke Market is propelled by the increasing energy demand worldwide. Pet coke fuel is used as an energy source by power plants.
The cement and construction industry is another factor boosting the market. The advancement in technology has increased the oil production which has to the demand for crude oil coke.
Asia Pacific occupies a huge share in the market. This trend is expected to continue in the forecast period.
India and China use a large percentage of coke dust in power plants and cement kilns. The coke dust in China is used to produce electricity in power plants.
India uses coke fossil fuel due to the growth of industrialization.
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The increasing demand for fabrication of aluminium smelter anodes in the aluminium industry fuels the growth of the market. Economic transformation due to industrialization has a positive impact on the business outlook of the market.
The steel industry has big applications in the usage of pet coke fuel. Growing awareness about the scope of petcoke boosts the growth of the market.
Segmentations & Key Players Involved in the Petcoke Market
The Petcoke Market can be broken down into various segments as follows:
- Product Type- Calcined Petcoke and Fuel Grade Petcoke.
- Application- Aluminium, Steel, Power, Cement, and Others.
- Region- North America, Europe, China, Japan, Middle East & Africa, India, South America
, and Others.
Some of the key players involved in the Petcoke Market are as follows:
- China National Petroleum Corporation
- Sinopec Corp
- Reliance Industries Limited
- Indian Oil Corporation Ltd
- China National Offshore Oil Corporation
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