NEW YORK, August 30, 2016 /PRNewswire/ --
Increasing consumption of naphtha and natural gas derived chemicals in various end user industries and ability of PET coke to be utilized as a precursor for the production of commodity chemicals to steer global pet coke to chemical market through 2025
According to TechSci Research report, "Global Pet Coke to Chemicals Market By Derivative, By End Use Application, Competition Forecast and Opportunities, 2011 - 2025", the global pet coke demand is forecast to surpass $ 25 billion by 2025, on account of its increasing utilization in cement, power and smelting industries for various applications. During 2016-2025, demand for pet coke is expected to grow at a higher CAGR as compared to 2011-2015 on the back of rising demand in emerging application areas. Utilization of pet coke to derive various commodity chemicals is recognized as one of the emerging applications for pet coke over the last few years.
Conventionally, Naphtha and natural gas are utilized as a precursor for the production of various commodity chemicals such as methanol, methyl acetate, ethylene, propylene, oxo chemicals, acetic anhydride, acetic acid and dimethyl ether across the globe. In order to meet the growing requirements for these derivatives, the manufacturers of methanol, methyl acetate, ethylene, propylene, oxo chemicals, acetic anhydride, acetic acid and dimethyl ether are increasingly opting for alternative feedstock. PET coke is emerging as a promising substitute for naphtha & natural gas in the production of these derivatives. Further, these aforementioned intermediates are witnessing increasing demand in manufacturing plastics, polymer, resins, solvents, etc., which is expected to boost PET consumption across the globe in the coming years. With continuing research & development, PET coke offers enormous potential to replace Naptha and natural gas for the production of various chemicals over the span of next ten years.
Browse 12 market data Tables and 485 Figures spread through 586 Pages and an in-depth TOC on
"Global Pet Coke to Chemicals Market"
Asia-Pacific is the leading demand generator for methanol, methyl acetate, ethylene, propylene, oxo chemicals, acetic anhydride, acetic acid and di-methyl ether due to their increasing utilization in manufacturing processes of various industries, which in turn, is expected to augment demand for pet coke in the region as it is emerging as a potential substitute for naphtha and natural gas in the production of a variety of commodity chemicals. Additionally, rising awareness about the properties of pet coke and its effect on operational feasibility is further expected to escalate its demand from the chemical manufacturers. Major developing nations such as China and India are witnessing strong growth in industrial sectors which is generating enormous demand for a variety of commodity chemicals. In Asia-Pacific, production of the commodity chemicals is dependent on naphtha and natural gas availability, however, in order to reduce the dependency on naphtha and natural gas for production of commodity chemicals and technological advancements in chemicals production is expected to increase the demand for PET coke in the region during 2016-2025.
Download Sample Report
Customers can also request for 10% free customization on this report.
"Companies having pet coke availability announced to utilize it for commodity chemical production. For instance, IOCL announced plans to establish a facility for the production of acetic acid and ethanol by the utilization of pet coke as a raw material. Reliance Industries, one of the leading petrochemical giants also announced plans to set up a pet coke gasification unit for the production of various chemicals such as methanol.", said Mr. Rishi Srivastava, Research Manager with TechSci Research, a research based global management consulting firm.
"Global Pet Coke to Chemicals Market By Derivative, By End Use Application, Competition Forecast and Opportunities, 2011 - 2025" has evaluated the future growth potential of global pet coke to chemicals market and provides statistics and information on market size, consumer behavior and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global pet coke market.
Browse Related Reports
GCC Construction Chemicals Market By Type (Concrete Admixtures, Waterproofing, Protective Coatings, Adhesives, etc.), By End User, Competition Forecast and Opportunities, 2011 - 2021 - Saudi Arabia, UAE, Qatar, Kuwait, Oman & Bahrain
Global Specialty Carbon Black Market By Type (Lamp Black, Acetylene Black, Conductive Black & Others), By Application (Plastics, Printing Inks & Toners, Paints & Coatings, & Others), By Region, Competition Forecast & Opportunities, 2011-2021
India Construction Chemicals Market By Type (Concrete Admixtures, Waterproofing Chemicals, Flooring Chemicals, Repair & Rehabilitation Chemicals and Others), By Application and Competition Forecast and Opportunities, 2010 - 2020
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
Mr. Ken Mathews
708 Third Avenue,
New York - 10017
Connect with us on Twitter - https://twitter.com/TechSciResearch
Connect with us on LinkedIn - https://www.linkedin.com/company/techsci-research
SOURCE TechSci Research