The global petroleum coke market was valued at US$ 16,713.9 Mn in 2016 and is projected to reach US$ 36,236.2 Mn in 2026 at a CAGR of 8.1% from 2017 to 2026. The fuel grade coke segment in the global petroleum coke market is expected to account for the major revenue share of 75.0% in 2017, as it can be used as an alternative to steam coal in various power plants, and its high heat and low ash content makes it an ideal heat source for power generation.
Petroleum coke is a solid material and a byproduct of the coking unit, a residual fuel upgrader. The quality of the coke depends upon the crude oil processed in the refinery. Cokes produced from sour crude oil are high in sulfur and trace metals. Due to the physical properties of petcoke, it is majorly used in energy applications and in other industrial applications. Fuel grade petcoke is the largest consumed product type, due to its wider energy applications in blast furnace and power plants.
The growth of the global petroleum coke market is driven primarily by factors such as growing usage of petcoke as a cost-effective fuel in the power and energy sector, and in cement and energy industries, and for production of aluminum and steel etc.
However, regulations and health and environmental concerns associated with storage and handling of petcoke is likely to act as restraining factor for the growth of the global petroleum coke market over the forecast period.
Companies profiled in the report are Chevron Corporation, Essar Oil, BP Plc, HPCL, ExxonMobil Corporation, Indian Oil Corporation Limited, Saudi Arabian Oil, Reliance Industries, Chevron Corporation and Royal Dutch Shell.