Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Petroleum coke is a by-product of crude oil and is look like solid rock materials. Petroleum coke is basically used across various industries as an energy source. Power generation is key end-user of the petcoke and other prominent users of petroleum coke are metal, construction, aluminum, blast furnace, and steel industry.

The global petroleum coke (petcoke) market is projected to reach around US$ 42,779.8 million by the end of 2027, in terms of revenue, growing at CAGR of 8.5% during the forecast period (2020-2027).

Drivers:

Growing demand from cement and power generation industry is primarily fueling the market growth of the petroleum coke. Fuel grade petcoke is widely used in the cement and power generation industry. The expanding cement and power generation industry across developing economies such as China and India is also contributing to the market growth of petroleum coke. Moreover, increasing export of the petroleum coke is again propelling the market growth.

Figure 1. Global Petroleum Coke (petcoke) Market Share (%) in terms of Value, By Region, in 2019

Petroleum Coke (Petcoke)  | Coherent Market Insights

Asia Pacific region dominated the global petroleum coke (petcoke) market in 2019, accounting for 35.6% share in terms of value, followed by Europe and North America, respectively.

Market Restraints

The adverse environmental and health effects of the petcoke is projected to hamper the market growth. It has high sulfur content which has adverse effects on the aquatic as well as terrestrial environments due to this government has imposed various strict regulation to limit the use of petcoke.

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Global Petroleum Coke (petcoke) Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 22,349.1 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 8.5% 2027 Value Projection: US$ 42,779.8 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East & Africa: Middle East and Africa
Segments covered:
  • By Product Type: Fuel Grade Coke and Calcined Coke
  • By End-use: Calcining Industry, Power Plants, Cement Kilns, Blast Furnaces, and Others
Companies covered:

BP Plc, Chevron Corporation, Essar Oil Ltd., ExxonMobil Corporation, HPCL - Mittal Energy Limited, Indian Oil Corporation Limited, Reliance Industries Limited, Royal Dutch Shell Plc, Saudi Arabian Oil Co., and Valero Energy Corporation

Growth Drivers:
  • Growing demand from cement and power generation industry
  • Increasing production of aluminum is driving demand for calcined petcoke
Restraints & Challenges:
  • The adverse environmental and health effects of the petcoke

Market Opportunities

Growth in infrastructure development across the Asia Pacific region is projected to bring new market opportunities in the near future. According to the report by PwC, the Asia Pacific infrastructure market is expected to grow 7 - 8% percent a year over the next decade, reaching US$5.36 trillion a year by 2025 representing 60% of the world total. Thus, growth in the construction industry in Asia Pacific region is expected to propel the market growth of petcoke.

Increasing investment by major players in enhancing the production capacity of crude oil is expected to offer lucrative opportunities. For instance, in January 2019, ExxonMobil announced that that it will increase crude refining capacity by more than 65 percent, or 250,000 barrels per day. Thus, the growing production of crude oil is expected to foster the market growth of the petcoke over the forecast period. 

Figure 2. Global Petroleum Coke (petcoke) Market– Opportunity Analysis

Petroleum Coke (Petcoke)  | Coherent Market Insights

Market Trends

The shifting trend of using petcoke in medical, electrical components, and ceramics application due to its various advantages offered is projected to propel the market growth. Petcoke has anti-corrosion property, is lightweight, highly ductile, and also has excellent electrical& thermal conductivity. Moreover, the rapid growth of electronic industries is also projected to spur the market growth of petcoke.

Distribution and supply agreement of petcoke is a major trend in the market and this is projected to act as a catalyst to the growth of the market. For instance, in July 2019, Arabian Cement Company (ACC) announced signing an agreement with the Egyptian Refining Company, stipulating to supply local petroleum coke (pet coke) with an annual volume tons as of July 2019. The goal of this agreement to reduce the production costs of the petcoke.

Figure 3. Global Petroleum Coke (Petcoke) Market Share (%) in terms of Value, By End-use, in 2019

Petroleum Coke (Petcoke)  | Coherent Market Insights

On the basis of end-use in 2019, the confectionery segment has accounted the largest market share of 33.5% in terms of value, followed by cement kilns and power plants segment respectively.

Global Petroleum Coke (petcoke) Market - Impact of Coronavirus (Covid-19) Pandemic

Several refineries have reduced supply of petroleum coke due to refinery production cuts, falling consumption of gasoline and jet fuel amid the coronavirus pandemic. The prices of petroleum coke has fallen due to low crude oil prices. End-use industries can benefit from low petroleum coke prices and help to increase the profit margins of these companies. In March 2020, the Chinese Ministry of Finance offered tariff exemptions on U.S. petcoke imports as impact of COVID-19 affected domestic petcoke production in the country. According to Coherent Market Insights, petroleum coke market is expected to grow at a lower CAGR between 2020 and 2021.

Competitive Section:

Company Names 

  1. BP Plc
  2. Chevron Corporation
  3. Essar Oil Ltd.        
  4. ExxonMobil Corporation
  5. HPCL - Mittal Energy Limited
  6. Indian Oil Corporation Limited
  7. Reliance Industries Limited
  8. Royal Dutch Shell Plc
  9. Saudi Arabian Oil Co.
  10. Valero Energy Corporation

Few Recent Developments

In January 2019, ExxonMobil announced that that it will increase crude refining capacity by more than 65 percent, or 250,000 barrels per day.

Petroleum coke is also known as petcoke and is a final solid product obtained from oil refining. It is available in two forms: fuel grade and calcined grade. Power generation, construction, and metal industry are some of the major end-user of the petroleum coke. It is also used in the production of titanium and fertilizers.

Market Dynamics

Various companies are constructing a new facility for the coke gasification project in order to serve the end-user industry. This is expected to be a major trend in the market. For instance, in December 2017, Indian Oil Corp the biggest oil company has invested Rs 20,000-crore in setting up a coke gasification project at its Paradip refinery in Odisha to convert the lowest-cost fossil fuel into gas that can be used to generate power or make petrochemicals.

Increasing production of aluminum is driving demand for calcined petcoke. Calcined grade is one of the key ingredients used in the manufacturing of aluminum. According to the report by Aluminium World Trade Fair, global primary aluminum production increased by 5.8 percent in 2017, with a 10 percent increase in China and stable production in North America and Europe. In total, approx. 63.2 million tons of aluminum were produced worldwide in 2017.

Several countries have banned the import of the petcoke for use as fuel. This is expected to hamper the market growth of the petcoke over the forecast period.

Key features of the study:

  • This report provides in-depth analysis of the global petroleum coke (petcoke) market and provides market size (US$ Million and KT) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by key players
  • This study also provides impact analysis of Coronavirus (Covid-19) pandemic on petroleum coke (petcoke) market.
  • It profiles key players in the global petroleum coke (petcoke) market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include BP Plc, Chevron Corporation, Essar Oil Ltd., ExxonMobil Corporation, HPCL - Mittal Energy Limited, Indian Oil Corporation Limited, Reliance Industries Limited, Royal Dutch Shell Plc, Saudi Arabian Oil Co., and Valero Energy Corporation
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global petroleum coke (petcoke) market report caters to various stakeholders in this industry including investors, suppliers, petroleum coke (petcoke) manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the petroleum coke (petcoke) market

Detailed Segmentation:

  • Global Petroleum Coke (Petcoke) Market, By Product Type:
    • Fuel Grade Coke
    • Calcined Coke
  • Global Petroleum Coke (Petcoke) Market, By End-use:
    • Calcining Industry
    • Power Plants
    • Cement Kilns
    • Blast Furnaces
    • Others
  • Global Petroleum Coke (Petcoke) Market, By Region:
    • North America
      • U.S.
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
      • Canada
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
    • Europe
      • U.K.
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
      • Germany
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
      • France
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
      • Italy
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
      • Spain
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
      • Russia
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
      • Rest of Europe
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
    • Asia Pacific
      • China
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
      • India
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
      • Japan
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
      • ASEAN
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
      • Australia
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
      • South Korea
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
      • Rest of Asia Pacific
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
    • Latin America
      • Brazil
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
      • Mexico
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
      • Rest of Latin America
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
    • Middle East & Africa
      • Middle East
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
      • Africa
        • By Product Type
          • Fuel Grade Coke
          • Calcined Coke
        • By End-use
          • Calcining Industry
          • Power Plants
          • Cement Kilns
          • Blast Furnaces
          • Others
  • Company Profiles
    • BP Plc *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Chevron Corporation
    • Essar Oil Ltd.
    • ExxonMobil Corporation
    • HPCL - Mittal Energy Limited
    • Indian Oil Corporation Limited
    • Reliance Industries Limited
    • Royal Dutch Shell Plc
    • Saudi Arabian Oil Co.
    • Valero Energy Corporation

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By End-use
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
    • Cost Tier Down Analysis
  4. Global Petroleum Coke (Petcoke) Market – Impact of Coronavirus (Covid-19) Pandemic
    • Impact of Coronavirus – Overview
    • Impact Analysis, By Region
      • North America
      • Latin America
      • Europe
      • Asia Pacific
      • Middle East
      • Africa
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million and KT)
    • Dutch
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million and KT)
  5. Global Petroleum Coke (Petcoke) Market, By Product Type, 2017 - 2027 (US$ Million and KT)
    • Introduction
      • Market Share Analysis, 2017 and 2027
      • Y-o-Y Growth Analysis, 2020 – 2027 (%)
      • Segment Trends
    • Fuel Grade Coke
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million and KT)
    • Calcined Coke
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million and KT)
  6. Global Petroleum Coke (Petcoke) Market, By End-use, 2017 - 2027 (US$ Million and KT)
    • Introduction
      • Market Share Analysis, 2017 and 2027
      • Y-o-Y Growth Analysis, 2020 – 2027 (%)
      • Segment Trends
    • Calcining Industry
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million and KT)
    • Power Plants
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million and KT)
    • Cement Kilns
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million and KT)
    • Blast Furnaces
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million and KT)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million and KT)
  7. Global Petroleum Coke (Petcoke) Market, By Region, 2017- 2027 (US$ Million and KT)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027
      • Y-o-Y Growth Analysis, By Region, 2020 – 2027 (%)
    • North America
      • Market Share Analysis, By Country, 2017 and 2027
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027 (%)
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
    • Europe
      • Market Share Analysis, By Country, 2017 and 2027
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027 (%)
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
        • Germany
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
        • France
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
        • Italy
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
        • Spain
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
        • Russia
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
        • Rest of Europe
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
    • Asia Pacific
      • Market Share Analysis, By Country, 2017 and 2027
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027 (%)
        • China
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
        • India
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
        • Japan
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
        • ASEAN
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
        • Australia
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
        • South Korea
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
        • Rest of Asia Pacific
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
    • Latin America
      • Market Share Analysis, By Country, 2017 and 2027
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027 (%)
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
        • Mexico
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
        • Argentina
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
        • Rest of Latin America
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
    • Middle East & Africa
      • Market Share Analysis, By Sub-Region, 2017 and 2027
      • Y-o-Y Growth Analysis, By Sub-Region, 2020 – 2027 (%)
        • Middle East
          • Sub-region Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
        • Africa
          • Sub-region Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million and KT)
          • Market Size and Forecast, By End-use, 2017- 2027 (US$ Million and KT)
  8. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • BP Plc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Chevron Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Essar Oil Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • ExxonMobil Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • HPCL-Mittal Energy Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Indian Oil Corporation Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Reliance Industries Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Royal Dutch Shell Plc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Saudi Arabian Oil Co.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Valero Energy Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

Frequently Asked Questions

The market for petroleum coke is estimated to surpass US$ 42,779.8 million by 2027, exhibiting a CAGR of 8.5% between 2020 and 2027.
Increasing production of aluminum is driving demand for calcined petcoke. Calcined grade is one of the key ingredients used in the manufacturing of aluminum. According to the report by Aluminium World Trade Fair, global primary aluminum production increased by 5.8 percent in 2017, with a 10 percent increase in China and stable production in North America and Europe. In total, approx. 63.2 million tons of aluminum were produced worldwide in 2017.
The petroleum coke market is expected to exhibit a CAGR of 8.5% during the forecast period (2020-2027).
Major players operating in the global petroleum coke market include BP Plc, Chevron Corporation, Essar Oil Ltd., ExxonMobil Corporation, HPCL - Mittal Energy Limited, Indian Oil Corporation Limited, Reliance Industries Limited, Royal Dutch Shell Plc, Saudi Arabian Oil Co., and Valero Energy Corporation
The adverse environmental and health effects of the petcoke is projected to hamper the market growth. It has high sulfur content which has adverse effects on the aquatic as well as terrestrial environments due to this government has imposed various strict regulation to limit the use of petcoke.
The shifting trend of using petcoke in medical, electrical components, and ceramics application due to its various advantages offered is projected to propel the market growth. Petcoke has anti-corrosion property, is lightweight, highly ductile, and also has excellent electrical& thermal conductivity. Moreover, the rapid growth of electronic industries is also projected to spur the market growth of petcoke.
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