NEW YORK, December 11, 2017 /PRNewswire/ --
MarketResearch.biz announces publication of its recently generated research report titled, "Global Petroleum Coke Market By Product Type (Calcined Coke, Fuel Grade Coke) End-Use (Calcining, Power Plants, Cement Kilns, Blast Furnace) By Region - Forecast To 2026", which offers a holistic view of the global petroleum coke market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2017-2021) is projected to be US$ 105,033.6 Mn, which is expected to increase moderately over the latter part of the five-year forecast period.
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Petroleum coke is a solid carbon material that is a by-product of the crude refining transformation process, and is also known as a pet coke. Diverse grades of petroleum coke are manufactured by changing the raw material, coking operation temperature, and cooking time. It is used as an origin of power in various industries such as power generation, aluminum, cement, steel, and others. In addition, it is used in the metallurgical industry for the manufacture of anodes, which is used for electric arc furnaces. Petroleum coke is a cost-effective alternative to coal with higher calorific value and lower ash content.
Global Petroleum Coke Market: Market Dynamics
According to the report, rising demand from various end-use industries such as cement, automobiles, and transportation sector coupled with growing global energy demand are key factors driving growth of the global petroleum coke market. Also, growing supply of heavy oils across the globe, and for use in the production of steel on account of development in automobiles, railways, highway construction, and transportation segments are major factors expected to fuel growth of the global petroleum coke market over the forecast period. Moreover, increasing applications of petroleum coke in fertilizers to produce ammonia nitrate and urea, and in the paint industry to produce titanium dioxide are other factors expected to boost growth for this market.
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However, high carbon dioxide (CO2) output due to use of petroleum coke as compared with normal coal due to its high carbon content is a key factor restraining growth of the global petroleum coke market. Additionally, after combustion of petroleum coke, small amounts of hazardous gases are emitted along with CO2, which have adverse effects on human health. This factor is expected to hamper growth of the global petroleum coke market to a significant extent.
Global Petroleum Coke Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global petroleum coke market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global petroleum coke market is expected to expand at a significant CAGR of 8.1% during the forecast period.
Global Petroleum Coke Market: Segmental Snapshot
The global petroleum coke market report has been segmented on the basis of product type, end user, and region. The product type segment includes calcined coke, and fuel grade coke. End user segment includes power plants, cement industry, foundries, and others. The regions covered in the analysis are The Americas, Europe, Asia Pacific, and Rest of the World.
According to petroleum coke market infographics published on MarketResearch.Biz, revenue from fuel grade coke is expected to increase 2.2X between 2016 and 2026.
By product type: Fuel grade coke segment is estimated to register highest CAGR of over 8.5%, thereby accounting for highest revenue share among the product type segments.
By application: Foundries segment is estimated to account for highest revenue share among the application segments, registering highest CAGR of over 8.8% over the forecast period.
By region: The market in Asia Pacific accounted for second-highest revenue share in the global petroleum coke market in 2016, and is expected to record a CAGR of over 8.4% between 2017 and 2026.
Global Petroleum Coke Market: Competitive Analysis
The research report on the global petroleum coke market includes profiles of major companies such as Chevron Corporation, Essar Oil Limited, Royal Dutch Shell Plc., Exxon Mobil Corporation, BP P.L.C, Indian Oil Corporation, Reliance Industries Limited, Saudi Arabian Oil Co., HPCL-Mittal Energy Limited (HMEL), and Valero Energy Corporation.
The Global Petroleum Coke Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2017-2026 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global petroleum coke market for 2017-2026.
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