Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

United States Petroleum Coke Market Size

The United States petroleum coke market reached USD 7.35 billion in 2023. The market is expected to grow at a CAGR of 4.3% between 2024 and 2032, reaching USD 10.82 billion by 2032.

United States Petroleum Coke Market Outlook

  • According to EIA, natural gas was the largest source, constituting 40 % of US electricity generation in 2022 and coal was the third largest energy source at about 18%.
  • According to USGS, the shipment of cement was an estimated 110 million tons with an estimated value of $16 billion in 2023.
  • According to the American Iron and Steel Institute, the domestic raw steel production was 1,701,000 net tons and the utilization rate was 76.6 per cent.

United States Petroleum Coke Market Growth

Demand for fuel-grade goods in the US market continues to expand due to economic growth, population expansion, industrial uses, market dynamics, and regulatory factors.

As the economy grows and incomes rise, there is an increase in vehicle ownership, leading to higher demand for fuel-grade products like gasoline and diesel for transportation purposes. The industrial and commercial sectors require fuel-grade goods to power vehicles, machinery, and equipment necessary for their operations, which contributes to total demand increase. Growing environmental awareness, convenience, and affordability often drive consumer choices, sustaining demand for gasoline and diesel.

In February 2024, Phillips 66 targeted a 67% uptick in renewable fuels production in San Francisco by the end of the second quarter of 2024. This strategic move underscores the company's commitment to expanding its renewable energy portfolio.

Calcined coke is a crucial component in the production of aluminium. It is used as an anode material in the electrolytic process of smelting aluminium from alumina, where it serves as a conductive agent and provides carbon for the reduction of aluminium metal. The construction and automotive industries are major consumers of aluminium for structural components and lightweight purposes. As these industries grow, the demand for primary aluminium increases, driving the need for calcined coke.

United States Petroleum Market

United States Petroleum Coke Market Segmentation

United States Petroleum Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

  • Fuel grade
  • Calcined coke

Market Breakup by End Use

  • Power Plants
  • Cement Industry 
  • Steel Industry 
  • Aluminium industry 
  • Others

Market Breakup by Region

  • New England
  • Mideast
  • Great Lakes
  • Plains
  • Southeast
  • Southwest
  • Rocky Mountains

Leading Companies in the United States Petroleum Coke Market

  • BP Plc 
  • Valero Energy Corporation 
  • Phillips 66 Company 
  • Chevron Corporation 
  • Exxon Mobil Corporation 
  • PJSC LUKOIL 
  • Suncor Energy Inc. 
  • Aminco Resources LLC 
  • Marathon Petroleum Corporation 
  • LyondellBasell Industries NV
  • Others

The company designs, manufactures, and sells HVAC and refrigeration products. It offers equipment, components, and services for residential, commercial, and industrial use, emphasizing energy efficiency and environmental responsibility.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • End Use
  • Region
Breakup by Type
  • Fuel grade
  • Calcined coke
Breakup by End Use
  • Power Plants
  • Cement Industry
  • Steel Industry
  • Aluminium industry
  • Others
Breakup by Region
  • New England
  • Mideast
  • Great Lakes
  • Plains
  • Southeast
  • Southwest
  • Rocky Mountains
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • BP Plc
  • Valero Energy Corporation
  • Phillips 66 Company
  • Chevron Corporation
  • Exxon Mobil Corporation
  • PJSC LUKOIL
  • Suncor Energy Inc.
  • Aminco Resources LLC
  • Marathon Petroleum Corporation
  • LyondellBasell Industries NV
  • Others

*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.*

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Key Questions Answered in the Report

The market was valued at USD 7.35 billion in 2023.

The market is projected to grow at a CAGR of 4.3% between 2024 and 2032.

The revenue generated from the petroleum coke market is expected to reach USD 10.82 billion in 2032.

The market is categorised based on type, fuel grade and calcined coke.

The market key players are BP Plc, Valero Energy Corporation, Phillips 66 Company, Chevron Corporation, Exxon Mobil Corporation, PJSC LUKOIL, Suncor Energy Inc., Aminco Resources LLC, Marathon Petroleum Corporation, and LyondellBasell Industries NV among others.

The market is broken down into New England, Mideast, and Great Lakes. Plains. Southeast, Southwest, Rocky Mountains, and Far West.

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