Global Petcoke Gasification Market 2017-2021

Overview of the global petcoke gasification market

According to Technavio’s analyst, the global petcoke gasification market is anticipated to grow rapidly and post a CAGR of close to 17% during the forecast period. The increasing refinery margins will drive the growth prospects for the global petcoke gasification market until the end of 2021. It has been observed that the refining of lighter crude oil produces less petcoke, while the refining of heavier crude oil produces a higher amount of petcoke. Also, several refiners invest in technological advancements to convert petcoke into useful products to increase their bottom-of-the-barrel margins. Consequently, the demand for petcoke gasification process to convert low-grade carbon residues to high-grade petroleum product increases. Moreover, benefits of gasification process such as the production of power, oxygen, steam, and nitrogen for refinery use, the production of hydrogen for the manufacture of light refinery products, and the reduction of emissions, waste, and more power generation, will further fuel the market’s growth in the coming years. 

Our petcoke gasification industry analysis, the development of zero CO₂ emission technology will drive the growth prospects for the market for the next four years. The amount of CO₂ present in the final product can be reduced to zero or a very low percentage using petcoke as the feedstock for the gasification process. Also, the poly-generation process is used to reduce the CO₂ emissions, whereas a petcoke-based poly-generation captures a high amount of CO₂.

Competitive landscape and key vendors

The global petcoke gasification market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. These vendors are increasingly competing against each other based on factors such as price, quality, and market presence. Additionally, several vendors are increasingly focusing on research and developmental activities to reduce the emissions of greenhouse gasses, toxic gasses, and metals in the environment and are also conducting research on poly-generation of petcoke.

Key vendors in this market are -

• Air Liquide
• GE Energy
• Royal Dutch Shell
• RWE
• Siemens

Other prominent vendors in the market include CB&I, Huaneng Clean Energy Research Institute, KBR, KEPCO-Uhde, Northwest Research Institute of Chemical Industry, Shaanxi, Sedin, and Synthesis Energy Systems.

Segmentation by application and analysis of the petcoke gasification market

• Gaseous fuel
• Power generation
• Chemical

The power generation application segment accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. One of the major factors attributing to the growth of the market is the increasing demand for syngas for power generation. When syngas produced from the plant is sent to the gas turbines, the heat generated from the process is used to generate steam and produce electricity.

Segmentation by geography and analysis of the petcoke gasification market

• Americas
• APAC
• EMEA

In terms of geography, APAC accounted for the majority market share during 2016 and will continue to dominate the market during the forecasted period. According to the industry research report, the increasing demand for energy in countries such as China, India, and Japan, which are the chief importers of crude oil and natural gas  will be one of the major factors fueling market growth in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global petcoke gasification market?
• What are the key market trends impacting the growth of the global petcoke gasification market?
• What are the challenges to market growth?
• Who are the key vendors in the global petcoke gasification market?
• What are the market opportunities and threats faced by the vendors in the global petcoke gasification market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global petcoke gasification market?

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