Asian Petcoke Market - Forecast (2020 - 2025)

The Asian pet coke Market is valued $3,217million in the year 2020 and is estimated to grow at a CAGR of more than 6.3% during 2020 to 2025. Asian countries significantly contributing for pet coke market are China, India and Japan. China is the major producer and consumer of pet coke market which holds the major market share 72% and estimated to grow at a CAGR of 6.2% by 2025. Aluminum industry contributed the highest share in Asian pet coke market with market share of 40%.

What is Pet Coke?

Pet coke which is also abbreviated as petroleum coke is a black-colored solid composed primarily of carbon, and may contain limited amounts of elemental forms of sulfur, metals, and non-volatile inorganic compounds. It is the product produced during the oil refining process and a by-product of delayed coking or fluid coking refineries. Pet coke can be classified into two different types’ fuel grade coke which is high in sulphur and metals also called as lower grade pet coke is used in electric power plants and cement kilns, calcined petroleum coke which is a high grade pet coke low In sulphur and metals used in production of electrodes, anodes etc.

What are the major applications for Pet Coke?

Pet coke is an essential commercial product which is used in a wide range of applications includes production of steel, aluminum, paint, batteries, glass, lime, fertilizers and many industrial applications. It is of two forms green pet coke which can be used as fuel and calcined pet coke which is used as feedstock. Pet coke can be used as a substitute of coal as it has high energy content and cheaper compared to coal where cement and power generating are the two greatest consumers of fuel grade pet coke. Calcined pet coke is used to make steel, graphite and titanium as it is high in carbon purity and lack of contaminants.

Market Research and Market Trends of Pet Coke

• Highburg energy Inc. has utilized a gasification technique to concentrate metals from raw materials. By this gasification technique the weight of the raw pet coke samples decreased by more than 90%. The resulting ash was compared and analyzed to determine the metal concentration. After analyzing the ash from refinery pet coke vanadium pentoxide is found which can be used in jet engines and high speed aircrafts.

• The pet coke is fed to an advanced thermochemical gasification process to produce hydrogen and an ash byproduct, from which high-value metals are recovered, including nickel and cobalt, as well as a wide variety of rare-earth elements in smaller concentrations. High demand for hydrogen combined with the massive amount of inexpensive pet coke feedstock make this project appealing.

• Petroleum coke acid salts are now been discovered which are used as soil beneficiation agents which comprise alkali metal or ammonium salts of coke acid. The petroleum coke derived salts are useful because of their polynuclear structure and are water soluble. These are prepared by the controlled oxidation of petroleum coke to form the coke acid, and the subsequent neutralization of the acid to form the salt.

Who are the Major Players in Pet Coke market?

The companies referred in the market research report includes Indian Oil Corporation, China National Petroleum Corporation, Sinopec Corp, China National Offshore oil Corporation, Reliance Industries Limited.

What is our report scope?

The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2020-2025.

Key Takeaways from this Report

• Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.

• Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.

• Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.

• Analyze the sales and distribution channels across key geographies to improve top-line revenues.

• Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.

• Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.

• Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.