Global Petroleum Coke Market Size, Forecasts, And Opportunities – Includes Petroleum Coke Market Outlook
Learn about the global petroleum coke market through The Business Research Company, which provides information on petroleum coke market size, petroleum coke market drivers and restraints, petroleum coke market players, the COVID-19 impact on the petroleum coke market, and more.
The global petroleum coke market size is expected to grow from $21.56 billion in 2021 to $24.44 billion in 2022 at a compound annual growth rate (CAGR) of 13.3%. The global petroleum coke market size is expected to grow to $34.36 billion in 2026 at a CAGR of 8.9%.
The rise in the production of steel is expected to propel the growth of the petroleum coke market going forward.
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The petroleum coke market consists of sales of petroleum coke by entities (organizations, sole traders, and partnerships) that is a carbonaceous material produced by coker units in oil refineries or other cracking processes. Petroleum coke (also known as pet coke) is a by-product produced when tar sands bitumen is processed into crude oil. Bitumen has more carbon atoms than regular oil, and it is these atoms that are extracted from large hydrocarbon molecules using heat to produce pet coke. It has functioned as a relatively low-cost source of pulverized fuel for the kiln industry. It is known as green coke until it is thermally processed and converted into crystalline or calcined pet coke, which is utilized in the production of electrodes for steel and aluminum extraction.
Global Petroleum Coke Market Segments Include:
By Type: Fuel Grade, Calcined Coke
By Physical Form: Needle Coke, Sponge Coke, Catalyst Coke, Shot Coke, Purge Coke
By Application: Power Plants, Cement Kilns, Steel, Aluminium, Fertilizer, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific was the largest region in the petroleum coke market in 2021.
Increasing investments by key manufacturers have emerged as a key trend gaining popularity in the petroleum coke market. Major companies operating in the petroleum coke sector are focused on investments to increase the production capacity of petroleum coke and meet the growing demand from end-use industries.
Major Market Players: BP Plc, Chevron Corporation, Essar Oil Ltd., Exxon Mobil Corporation, HPCL – Mittal Energy Limited, Indian Oil Corporation Ltd., Marathon Petroleum Corporation, Royal Dutch Shell Plc, Saudi Arabian Oil Co., Trammo Inc., Valero Energy Corporation, Reliance Industries Limited, Marathon Petroleum Corporation, Phillips 66 Company, and PJSC Lukoil.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Petroleum Coke Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides petroleum coke market overviews, analyzes and forecasts market size, share, petroleum coke market players, petroleum coke market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s petroleum coke market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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