29 November 2019
The Petcoke Market Report 2020-2030: Forecasts By Grade (Fuel Grade, Calcined Grade), by Physical Form (Sponge Coke, Purge Coke, Needle Coke, Shot Coke), By Application (Power Plants, Cement Industry, Steel Industry, Aluminum Industry, Others), by region and analysis of leading companies operating in this industry.
During the forecast period, rising cement and power generation industries are expected to drive the global market for petroleum coke. Petroleum coke production development is directly linked to the oil refining, cement and energy sectors. Growing power and cement industries are expected to drive the petroleum coke market over the forecast period in emerging economies such as India, China and Vietnam. Approval by organizations such as EPA and CRS to use petroleum coke for industrial applications is expected to drive the demand for petroleum coke in the foreseeable future owing to its non-toxic nature.
The petroleum coke industry was segmented into fuel-grade coke and calcined coke depending on the product type. Because of the strong calorific value associated with the material, fuel grade coke dominated the market and is projected to see rapid growth over the forecast period. In the cement and energy sectors, fuel-grade coke is added due to low product costs and strong calorific value. Growing cements and power industries are expected to drive the product market in the foreseeable future in emerging economies such as India, China and Japan.
Calcined coke is used for the manufacture of titanium dioxide in paints and colors, copper, metal and fertilizer sectors. During the forecast period, rising demand from the aluminum and steel industries is expected to drive demand for petroleum coke. Because of the growing usage range of needle-calcinated coke in battery electrodes, calcinated coke is projected to see significant growth over the forecast period.
Asia Pacific dominated the market for petroleum coke and is expected to remain in the near future the largest regional market for production. For power plants and cement kilns, emerging economies like India and China recruit a large percentage of petroleum coke. Most of China's petroleum coke is used primarily in power plant electricity generation. Because of rapid industrialization in the country, India employs a large amount of the product in the cement industry. Growing cement and power industries in the region are expected in the foreseeable future to increase product demand.
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