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The global petroleum coke market size reached a value of around USD 25.00 billion in 2023. The market is assessed to grow at a CAGR of 7.0% in the forecast period of 2024-2032 to reach a value of nearly USD 45.92 billion by 2032.
Petroleum coke, also known as pet coke, is a solid rock material and a byproduct of crude oil refining and other cracking processes. It can be produced in different grades by varying the coking temperature, coking time, and the quality of the raw material used. Petroleum coke has various industrial applications due to its ability to provide a concentrated source of energy. However, its use as a fuel in power generation and other industries can raise environmental concerns, as it tends to emit a higher amount of carbon dioxide and sulphur compounds compared to other fossil fuels.
The growing global energy demand is driving the petroleum coke market growth. Petroleum coke is widely used as an energy source in power plants and various industries like cement, steel, and others due to its high calorific value. The rising construction activities and growing urbanisation trends are expected to enhance the demand for steel and cement, further contributing to the market growth. The rapid technological advancements and the growth in oil production capacity are also driving the market growth globally. However, fluctuations in fuel prices are a major challenge, which may restrain the market in the forecast period.
Petroleum Coke Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Petroleum Coke Market Analysis
8.1 Key Industry Highlights
8.2 Global Petroleum Coke Historical Market (2018-2023)
8.3 Global Petroleum Coke Market Forecast (2024-2032)
8.4 Global Petroleum Coke Market by Grade
8.4.1 Fuel Grade
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Calcined Coke
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Petroleum Coke Market by Physical Form
8.5.1 Needle Coke
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Sponge Coke
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Catalyst Coke
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Shot Coke
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Purge Coke
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.6 Global Petroleum Coke Market by End Use
8.6.1 Power Plants
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Cement Industry
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Steel Industry
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Aluminium Industry
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Others
8.7 Global Petroleum Coke Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Petroleum Coke Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Petroleum Coke Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Petroleum Coke Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Petroleum Coke Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Petroleum Coke Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code – 271311, 271312)
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Price Analysis
17.1 North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.2 Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.3 Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.4 Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.5 Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 BP Plc
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Phillips 66 Company
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 PJSC Lukoil
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Royal Dutch Shell Plc
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Indian Oil Corporation Ltd.
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Valero Marketing and Supply Company
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Essar
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Others
19 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operations Involved
2 Project Requirements and Cost Analysis
2.1 Land, Location, and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Raw Materials
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investments
List of Key Figures and Tables
1. Global Petroleum Coke Market: Key Industry Highlights, 2018 and 2032
2. Global Petroleum Coke Historical Market: Breakup by Grade (USD Billion), 2018-2023
3. Global Petroleum Coke Market Forecast: Breakup by Grade (USD Billion), 2024-2032
4. Global Petroleum Coke Historical Market: Breakup by Product Type (USD Billion), 2018-2023
5. Global Petroleum Coke Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
6. Global Petroleum Coke Historical Market: Breakup by End Use (USD Billion), 2018-2023
7. Global Petroleum Coke Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8. Global Petroleum Coke Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Petroleum Coke Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Petroleum Coke Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Petroleum Coke Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Petroleum Coke Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Petroleum Coke Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Petroleum Coke Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Petroleum Coke Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Petroleum Coke Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Petroleum Coke Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Petroleum Coke Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Petroleum Coke Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Major Importing Countries by Volume
21. Major Exporting Countries by Volume
22. Major Importing Countries by Value
23. Major Exporting Countries by Value
24. North America Historical Price Trends and Forecast 2018-2032
25. Europe Historical Price Trends and Forecast 2018-2032
26. Asia Pacific Historical Price Trends and Forecast 2018-2032
27. Latin America Historical Price Trends and Forecast 2018-2032
28. Middle East and Africa Historical Price Trends and Forecast 2018-2032
29. Global Petroleum Coke Market Structure
In 2023, the market size attained a value of approximately USD 25.00 billion.
The market is projected to grow at a CAGR of 7.% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach about USD 45.92 billion by 2032.
The major drivers of the market include the growing requirement for energy, rapid industrialisation and urbanisation, and growing construction activities.
The key trends guiding the growth of the market include the growing technological advancements and increasing E&P activities in the oil sector.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading various of petroleum coke in the market are fuel grade and calcined coke.
The major physical forms of petroleum coke in the market are needle coke, sponge coke, catalyst coke, shot coke, and purge coke.
The significant end uses of petroleum coke are power plants, cement industry, steel industry, and aluminium industry, among others.
The key players in the market are BP Plc, Phillips 66 Company, PJSC Lukoil, Royal Dutch Shell Plc, Indian Oil Corporation Ltd., Valero Marketing and Supply Company, and Essar, among others.
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