LONDON, April 25, 2016 /PRNewswire/ -- Petcoke is a by-product of cracking or delayed coker units of oil refinery where crude oil with high Sulphur content is used as a feedstock. Petcoke can be used as substitute of coal as it has high energy content and is cheaper compared to coal where cement and power generation are the two greatest consumers of fuel grade petcoke. The demand for petcoke in Asia has been increasing due to increased consumption from major developing countries with rapid industrialization and also due to increased supply of heavy oils.
Petcoke market has been segmented in to by type, by application and by country. Petcoke is obtained in two types that include calcined petcoke and fuel grade petcoke. Among these two types, fuel grade petcoke occupies major share in the Asian market. Petcoke is majorly used in aluminum, steel, power, cement and others. Among all, aluminum industry occupies major share and cement industry is anticipated to grow at a faster pace comparatively. Petcoke market is further segmented in to by countries that include analysis of China, India, Japan and others.
The report also focuses on key countries within Asia in terms of changing trends in using petcoke in various fields. China holds major share with a significant growth rate.
The report also includes overview of major companies' such as
Indian Oil Corporation Ltd,
China National Petroleum Corporation (CNPC),
China National Offshore Oil Corporation (CNOOC),
Reliance Industries Limited.
Petcoke market is expanding vigorously as many companies are taking initiatives for the developments that include business expansion, product launches, partnerships and many more. The largest business expansion was undertaken by Reliance industries Limited. The company invests Rs. 1,00,000 crore in digital platform project and the expansion of petrochemical business segment. Petrochemical and refining are the two core business segments of Reliance industries. The company's petrochemicals project on petcoke gasifiers and off-gas crackers at Jamnagar is expected to commence its operations in early 2016.
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