Quick Summary:
In an industry centered on the delicate balance between energy production and environmental impact, having the right insights at our fingertips is essential. Our comprehensive market research report on the global petroleum coke industry offers a wide-ranging overview and detailed analysis of the driving forces, opportunities, challenges, and players in this market. This report provides exclusive insights into recent trends as well as existing and emerging opportunities within the petroleum coke industry, giving senior executives the information necessary to make strategic decisions.
The global petroleum coke market is going through remarkable transformations, paralleled by the growth in the cement industry and the increasing production of steel globally. Our report explores these dynamics, detailing how petroleum coke supports these sectors while offering sustainable solutions. In addition, it covers the game-changing investments made by key players in the sector. Equip yourself with this report to be conversant with the growth potential of the petroleum coke market and make informed profiteering decisions.
Petroleum coke (also known as pet coke) is a by-product produced when tar sands bitumen is processed into crude oil. 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.
The main types of petroleum coke are fuel grade and calcined coke. Calcined coke is created by placing high-quality raw green petroleum coke into rotary kilns when it is heated to temperatures ranging from 1200 to 1350 degrees Celsius (2192 to 2460 degrees Fahrenheit). Calcined petroleum coke is an important component in the manufacturing of aluminum. The various physical forms of petroleum coke include needle coke, sponge coke, catalyst coke, shot coke, and purge coke that is used in power plants, cement kilns, steel, aluminum, fertilizer, and other applications.
The global petroleum coke market grew from $25.71 billion in 2022 to $29.8 billion in 2023 at a compound annual growth rate (CAGR) of 15.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The petroleum coke market is expected to grow to $54.25 billion in 2027 at a CAGR of 16.2%.
The petroleum coke market research report is one of a series of new reports that provides petroleum coke market statistics, including petroleum coke industry global market size, regional shares, competitors with a petroleum coke market share, detailed petroleum coke market segments, market trends and opportunities, and any further data you may need to thrive in the petroleum coke industry. This petroleum coke market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The growth in the cement industry will support the growth of the petroleum coke market. The need for cement has increased as a result of rising demand in many areas including housing, commercial development, and industrial construction. In the cement industry, pet coke is used as an energy source. The SO2 emitted during thermal decomposition is absorbed by the limestone in some cement plants that use 100% pet coke instead of coal. For instance, despite the pandemic and flood scenario, China's cement sector maintained stable growth in 2020, due to infrastructure construction and real estate investment. The annual cement output reached 2.377 billion tons in 2020, representing a 1.6% increase year on year. Hence, the growth of the cement industry is expected to propel the growth of the petroleum coke market going forward.
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. For instance, in November 2021, Oman, the world's largest crude exporter outside of Opec, announced the completion of Sanvira Carbon FZC, the country's first petroleum coke calcining (CPC) project, at the Sohar Freezone. Sanvira Carbon FZC, which was established with a $150 million investment, will assist refineries in the Sultanate of Oman and add value to the huge amounts of petroleum coke manufactured as a by-product of the refining process. Sanvira Carbon's full capacity is expected to be roughly 600,000 tons of calcined pet coke per year.
Asia-Pacific was the largest region in the petroleum coke market in 2022. The regions covered in petroleum coke market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the petroleum coke market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The rise in the production of steel is expected to propel the growth of the petroleum coke market going forward. Steel output has risen globally, owing to growing demand from railways, highway buildings, and automobiles. Petcoke is used as a feedstock in the iron and steel industry, where it is blended with coking coal during the coke-making process. The use of pet coke results in a 16% reduction in coking coal use and a net reduction in energy intensity of just over 1%. For instance, according to IBEF, an Indian Government export promotion agency for the international distribution and sale of Indian products, in December 2021, the production of finished steel and crude steel stood at 94.66 million tonnes (MT) and 102.49 million tonnes (MT), respectively. In addition, crude steel production is expected to reach 112-114 million tons, an increase of 8-9% YoY in the financial year 2022. Therefore, the rise in production of steel owing to development in railways, highway construction, automobiles, and transportation segments is driving the growth of the petroleum coke market.
The petroleum coke market consists of sales of needle coke, honeycomb coke, sponge coke, and shot coke. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Major players in the petroleum coke market are 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.
This product will be delivered within 1-3 business days.
The main types of petroleum coke are fuel grade and calcined coke. Calcined coke is created by placing high-quality raw green petroleum coke into rotary kilns when it is heated to temperatures ranging from 1200 to 1350 degrees Celsius (2192 to 2460 degrees Fahrenheit). Calcined petroleum coke is an important component in the manufacturing of aluminum. The various physical forms of petroleum coke include needle coke, sponge coke, catalyst coke, shot coke, and purge coke that is used in power plants, cement kilns, steel, aluminum, fertilizer, and other applications.
The global petroleum coke market grew from $25.71 billion in 2022 to $29.8 billion in 2023 at a compound annual growth rate (CAGR) of 15.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The petroleum coke market is expected to grow to $54.25 billion in 2027 at a CAGR of 16.2%.
The petroleum coke market research report is one of a series of new reports that provides petroleum coke market statistics, including petroleum coke industry global market size, regional shares, competitors with a petroleum coke market share, detailed petroleum coke market segments, market trends and opportunities, and any further data you may need to thrive in the petroleum coke industry. This petroleum coke market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The growth in the cement industry will support the growth of the petroleum coke market. The need for cement has increased as a result of rising demand in many areas including housing, commercial development, and industrial construction. In the cement industry, pet coke is used as an energy source. The SO2 emitted during thermal decomposition is absorbed by the limestone in some cement plants that use 100% pet coke instead of coal. For instance, despite the pandemic and flood scenario, China's cement sector maintained stable growth in 2020, due to infrastructure construction and real estate investment. The annual cement output reached 2.377 billion tons in 2020, representing a 1.6% increase year on year. Hence, the growth of the cement industry is expected to propel the growth of the petroleum coke market going forward.
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. For instance, in November 2021, Oman, the world's largest crude exporter outside of Opec, announced the completion of Sanvira Carbon FZC, the country's first petroleum coke calcining (CPC) project, at the Sohar Freezone. Sanvira Carbon FZC, which was established with a $150 million investment, will assist refineries in the Sultanate of Oman and add value to the huge amounts of petroleum coke manufactured as a by-product of the refining process. Sanvira Carbon's full capacity is expected to be roughly 600,000 tons of calcined pet coke per year.
Asia-Pacific was the largest region in the petroleum coke market in 2022. The regions covered in petroleum coke market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the petroleum coke market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The rise in the production of steel is expected to propel the growth of the petroleum coke market going forward. Steel output has risen globally, owing to growing demand from railways, highway buildings, and automobiles. Petcoke is used as a feedstock in the iron and steel industry, where it is blended with coking coal during the coke-making process. The use of pet coke results in a 16% reduction in coking coal use and a net reduction in energy intensity of just over 1%. For instance, according to IBEF, an Indian Government export promotion agency for the international distribution and sale of Indian products, in December 2021, the production of finished steel and crude steel stood at 94.66 million tonnes (MT) and 102.49 million tonnes (MT), respectively. In addition, crude steel production is expected to reach 112-114 million tons, an increase of 8-9% YoY in the financial year 2022. Therefore, the rise in production of steel owing to development in railways, highway construction, automobiles, and transportation segments is driving the growth of the petroleum coke market.
The petroleum coke market consists of sales of needle coke, honeycomb coke, sponge coke, and shot coke. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Major players in the petroleum coke market are 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.
This product will be delivered within 1-3 business days.
Frequently Asked Questions about the Global Petroleum Coke Market
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Who are the key companies in the Global Petroleum Coke Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | March 2023 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value ( USD | $ 29.8 billion |
| Forecasted Market Value ( USD | $ 54.25 billion |
| Compound Annual Growth Rate | 16.2% |
| Regions Covered | Global |
Table of Contents
1. Executive Summary2. Petroleum Coke Market Characteristics
3. Petroleum Coke Market Trends And Strategies
4. Petroleum Coke Market - Macro Economic Scenario
4.1 COVID-19 Impact On Petroleum Coke Market
4.2 Ukraine-Russia War Impact On Petroleum Coke Market
4.3 Impact Of High Inflation On Petroleum Coke Market
5. Petroleum Coke Market Size And Growth
5.1. Global Petroleum Coke Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Petroleum Coke Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Petroleum Coke Market Segmentation
6.1. Global Petroleum Coke Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Fuel Grade
- Calcined Coke
- Needle Coke
- Sponge Coke
- Catalyst Coke
- Shot Coke
- Purge Coke
- Power Plants
- Cement Kilns
- Steel
- Aluminium
- Fertilizer
- Other Applications
7.1. Global Petroleum Coke Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Petroleum Coke Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Petroleum Coke Market
8.1. Asia-Pacific Petroleum Coke Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.3. Asia-Pacific Petroleum Coke Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Petroleum Coke Market
9.1. China Petroleum Coke Market Overview
9.2. China Petroleum Coke Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
9.3. China Petroleum Coke Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Petroleum Coke Market
10.1. India Petroleum Coke Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
10.2. India Petroleum Coke Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Petroleum Coke Market
11.1. Japan Petroleum Coke Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11.2. Japan Petroleum Coke Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Petroleum Coke Market
12.1. Australia Petroleum Coke Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12.2. Australia Petroleum Coke Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Petroleum Coke Market
13.1. Indonesia Petroleum Coke Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13.2. Indonesia Petroleum Coke Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Petroleum Coke Market
14.1. South Korea Petroleum Coke Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14.2. South Korea Petroleum Coke Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Petroleum Coke Market
15.1. Western Europe Petroleum Coke Market Overview
15.2. Western Europe Petroleum Coke Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15.3. Western Europe Petroleum Coke Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Petroleum Coke Market
16.1. UK Petroleum Coke Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16.2. UK Petroleum Coke Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Petroleum Coke Market
17.1. Germany Petroleum Coke Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17.2. Germany Petroleum Coke Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Petroleum Coke Market
18.1. France Petroleum Coke Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18.2. France Petroleum Coke Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Petroleum Coke Market
19.1. Eastern Europe Petroleum Coke Market Overview
19.2. Eastern Europe Petroleum Coke Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19.3. Eastern Europe Petroleum Coke Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Petroleum Coke Market
20.1. Russia Petroleum Coke Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20.2. Russia Petroleum Coke Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Petroleum Coke Market
21.1. North America Petroleum Coke Market Overview
21.2. North America Petroleum Coke Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21.3. North America Petroleum Coke Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Petroleum Coke Market
22.1. USA Petroleum Coke Market Overview
22.2. USA Petroleum Coke Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22.3. USA Petroleum Coke Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Petroleum Coke Market
23.1. South America Petroleum Coke Market Overview
23.2. South America Petroleum Coke Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23.3. South America Petroleum Coke Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Petroleum Coke Market
24.1. Brazil Petroleum Coke Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24.2. Brazil Petroleum Coke Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Petroleum Coke Market
25.1. Middle East Petroleum Coke Market Overview
25.2. Middle East Petroleum Coke Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25.3. Middle East Petroleum Coke Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Petroleum Coke Market
26.1. Africa Petroleum Coke Market Overview
26.2. Africa Petroleum Coke Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26.3. Africa Petroleum Coke Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Petroleum Coke Market Competitive Landscape And Company Profiles
27.1. Petroleum Coke Market Competitive Landscape
27.2. Petroleum Coke Market Company Profiles
27.2.1. BP PLC.
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. Chevron Corporation
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Essar Oil Ltd.
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Exxon Mobil Corporation
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. HPCL - Mittal Energy Limited
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Petroleum Coke Market
29. Petroleum Coke Market Future Outlook and Potential Analysis
30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Historic And Forecast Inflation Rates
30.4. Research Inquiries
30.5. About the Publisher
30.6. Copyright And Disclaimer
Executive Summary
Petroleum Coke Global Market Report 2023 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on petroleum coke market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Description:
Where is the largest and fastest growing market for petroleum coke? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The petroleum coke market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Scope
Markets Covered:
1) By Type: Fuel Grade; Calcined Coke2) By Physical Form: Needle Coke; Sponge Coke; Catalyst Coke; Shot Coke; Purge Coke
3) By Application: Power Plants; Cement Kilns; Steel; Aluminium; Fertilizer; Other Applications
Companies Mentioned: BP PLC.; Chevron Corporation; Essar Oil Ltd.; Exxon Mobil Corporation; HPCL - Mittal Energy Limited
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
A selection of companies mentioned in this report includes:
- 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
- PJSC Lukoil
Methodology
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