Research analysis on the global petcoke market identifies that the increasing usage of petcoke as a cost-effective fuel will be one of the major factors that will have a positive impact on the growth of the market. Technavio's market research analysts predict that this market will grow at a CAGR of nearly 8% by 2021. Petcoke is increasingly used as a low-priced substitute to coal to generate power from coal-fired power plants. Since petcoke is a by-product in the hydrocarbon value chain, it is priced much lower than conventional coal. Heating the fuel-grade coke to a high temperature eliminates moisture, reduces the volatile matter, and raises the density of the product. The resultant calcined coke is nearly pure carbon with high electrical conductivity. Moreover, the cost of petcoke production is much lower than the price of coal which is also driving its popularity across the globe.
In terms of geographic regions, the Americas will be the major revenue contributor to the petcoke market throughout the forecast period. The rise in processing of heavy crude oil and tar sands and the increasing investments in coking units in various green field refineries, will be the major factors driving the growth of the petroleum coke market in this region.
Competitive landscape and key vendors
The petcoke market consists of established vendors and is intensely competitive. The growth in the processing of tar sands and heavy oil coupled with the rise in focus on fuel variation, will offer significant growth opportunities for vendors in this marketspace. Manufacturers in the petroleum coke market are focusing on producing high-quality calcined petcoke for various industrial applications.
The leading vendors in the market are ?
Royal Dutch Shell
The other prominent vendors in the market are Exxon Mobil, Essar Oil, HMEL, HPCL, IOCL, ConocoPhillips, Oxbow Corporation, Valero Energy, Koch Carbon, Khurana Group, Trammo, and Marathon Petroleum.
Segmentation by product and analysis of the petcoke market
During 2016, the fuel-grade petcoke segment accounted for the major shares of the petcoke market. The high usage of fuel-grade petcoke as a cheap fuel by the power and cement industries will be one of the major factors fueling the growth of the market in this industry segment during the next few years.
Segmentation by end-user and analysis of the petcoke market
Paints and coloring industry
According to this market research report, the cement industry will account for the maximum shares of the petcoke market until 2021. The high utilization of petcoke as a fuel in cement production owing to its advantages including low ash content, higher calorific value than coal, and less volatility, will increase its demand in this end-user segment.
Key questions answered in the report include
What will the market size, market forecast and the growth rate be in 2021?
What are the key factors driving the global petcoke market?
What are the key market trends impacting the growth of the global petcoke market?
What are the challenges to market growth?
Who are the key vendors in the global petcoke market?
What are the market opportunities and threats faced by the vendors in the global petcoke market?
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 market?
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This upcoming market research report on the global petcoke market is an important part of Technavio's energy portfolio and presents insights into niche market segments like the power sector. Additionally, this market research report on the global petcoke market also covers vendors like BP, Chevron, CNPC, Reliance Industries, Royal Dutch Shell, Saudi Aramco, Essar Oil, HPCL, IOCL, Koch Carbon, Oxbow, and Valero.
This market research report on the global petcoke market also considers the growth of similar markets like industrial uninterruptible power supply, which is predicted to grow at a CAGR of above 6% by the end of the year 2021. This upcoming industry report on the global petcoke market also covers geographies like the Americas, APAC, and EMEA.
This upcoming market research report on the global petcoke market also identifies the key influencers, the key market challenges, and the trends affecting the vendors in the power sector. Also, to give an exact picture of the industry's growth scenario, this report on the global petcoke market also provides detailed insights on the changing competitive landscape and the strategies followed by the chief players to consolidate their presence in the global market.
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