Petroleum Coke Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Petroleum Coke Market
The petroleum coke market size was valued at USD 26.50 billion in 2022, and the market is now projected to grow from USD 27.83 billion in 2023 to USD 43.21 billion by 2030, exhibiting a CAGR of 6.5% during the forecast period of 2023-2030.
The outbreak of the pandemic, the production and supply of raw materials for the global petroleum coke was significantly affected, apart from the manufacture delays. The lockdown lowered traffic across industrial segments, especially power generation and cement and steel, which used pet coke. Besides, transportation difficulties and logistics played a role in the evolution of the market. Volatility of crude oil prices through decline in demand and political instabilities impacted equally the production cost and supply chain issues.
The construction business is a growing one mainly due to aspects like; population demographic, infrastructure, real estate, and technology. This growth is rising the utilization of cement which fuels the need of Petroleum coke as a fuel and carbon source to cement kilns during the process of making clinker. Availability, comparatively affordable price, high calorific value and being cost effective in use make pet coke even more suitable for use in construction. As a result, this sector has experienced high growth thereby set to push petroleum coke demand higher in the coming years.
This is due to improved steel technology, particularly the use of EAFs and positive environmental legislation as well as changes in trade policies. The increasing rate at which steel is being consumed in its various applications like construction, electrical and electronics, automotive and aerospace because of excellent corrosion resistant feature is also increasing the demand for pet coke. Consequently, the cost of the product, high carbon/energy value, increase quality in metallic iron, optimize the energy balance during smelting while minimizing the amounts of iron oxide. Therefore, it is expected that the growth in steel industry will have a significant positive impact to the adoption of petroleum coke.
Comprehensive Analysis of Petroleum Coke Market
The petroleum coke market growth is also increasing exponentially because of the segmentation of its market. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by type analysis, and by application analysis. By type analysis incudes fuel grade and calcined coke. By application analysis incudes aluminum, cement, power, iron & steel, storage, and others.
The Asia Pacific region lead the petroleum coke market share by benefitting a market size of USD 16.57 billion in 2022 due to increasing presence of companies that refine crude oil.
Top players in the market have their responsibility of chemicals & advanced materials industrial prospectus growth of the retailing industry and the markets. These players include, Oxbow Corporation, Suncor Energy Inc., Phillips 66 Company, Aminco Resources LLC, Nippon Coke & Engineering Co., Ltd., Petroleum Coke Industries Company, Renelux Cyprus Ltd., Graphite India Limited, British Petroleum, Indian Oil Corporation Ltd, Chevron Corporation, Marathon Petroleum Corporation. these market players provide a level-playing competitive landscape.
In July 2023, Venezuela's state oil firm PDVSA signed contracts with Latif Petrol and Reussi Trading to export up to 1.6 million metric tons of petroleum coke.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2017-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2017-2021
CAGR (2023-2030) CAGR of 6.5% from 2023-2030
Unit Value (USD Billion), Volume (Kiloton)
Segmentation By Type
Fuel Grade Coke
Calcined Coke
By Application
Aluminum
Cement
Power
Iron and Steel
Storage
Other
By Region
North America (By Type, Form, Application, and Country)
U.S. (By Application)
Canada (By Application)
Europe (By Type, Form, Application, and Country)
Germany (By Application)
U.K. (By Application)
France (By Application)
Italy (By Application)
Russia (By Application)
Rest of Europe (By Application)
Asia Pacific (By Type, Form, Application, and Country)
China (By Application)
Japan (By Application)
India (By Application)
Rest of Asia Pacific (By Application)
South America (By Type, Form, Application, and Country)
Brazil (By Application)
Mexico (By Application)
Rest of Latin America (By Application)
Middle East & Africa (By Type, Form, Application, and Country)
Saudi Arabia (By Application)
South Africa (By Application)
Turkey (By Application)
Rest of the Middle East & Africa (By Application)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Regions
- 4.2. Key Developments: Capacity Expansions, Acquisitions, Partnerships, etc.
- 4.3. Latest Technological Advancement
- 4.4. Insights on Regulatory Scenario
- 4.5. Porters Five Forces Analysis
- 5. Qualitative Insights on Impact of COVID-19 on Global Petroleum Coke Market
- 5.1. Supply Chain Analysis & Challenges due to Covid-19
- 5.2. Steps taken by Government / Companies to Overcome this Impact
- 5.3. Potential Challenges and Opportunities due to COVID-19 Outbreak
- 6. Global Petroleum Coke Market Analysis, Insights and Forecast, 2017-2030
- 6.1. Key Findings / Summary
- 6.2. By Type (Value and Volume)
- 6.2.1. Fuel Grade Coke
- 6.2.2. Calcined Coke
- 6.3. By Application (Value and Volume)
- 6.3.1. Aluminium
- 6.3.2. Cement
- 6.3.3. Power
- 6.3.4. Iron and Steel
- 6.3.5. Storage
- 6.3.6. Other
- 6.4. By Region (Value and Volume)
- 6.4.1. North America
- 6.4.2. Europe
- 6.4.3. Asia Pacific
- 6.4.4. Latin America
- 6.4.5. Middle East & Africa
- 7. North America Petroleum Coke Market Analysis, Insights and Forecast, 2017-2030
- 7.1. Key Findings / Summary
- 7.2. By Type (Value and Volume)
- 7.2.1. Fuel Grade Coke
- 7.2.2. Calcined Coke
- 7.3. By Application (Value and Volume)
- 7.3.1. Aluminium
- 7.3.2. Cement
- 7.3.3. Power
- 7.3.4. Iron and Steel
- 7.3.5. Storage
- 7.3.6. Other
- 7.4. By Country (Value and Volume)
- 7.4.1. U.S
- 7.4.1.1. By Application (Value and Volume)
- 7.4.1.1.1. Aluminium
- 7.4.1.1.2. Cement
- 7.4.1.1.3. Power
- 7.4.1.1.4. Iron and Steel
- 7.4.1.1.5. Storage
- 7.4.1.1.6. Other
- 7.4.2. Canada
- 7.4.2.1. By Application (Value and Volume)
- 7.4.2.1.1. Aluminium
- 7.4.2.1.2. Cement
- 7.4.2.1.3. Power
- 7.4.2.1.4. Iron and Steel
- 7.4.2.1.5. Storage
- 7.4.2.1.6. Other
- 8. Europe Petroleum Coke Market Analysis, Insights and Forecast, 2017-2030
- 8.1. Key Findings / Summary
- 8.2. By Type (Value and Volume)
- 8.2.1. Fuel Grade Coke
- 8.2.2. Calcined Coke
- 8.3. By Application (Value and Volume)
- 8.3.1. Aluminium
- 8.3.2. Cement
- 8.3.3. Power
- 8.3.4. Iron and Steel
- 8.3.5. Storage
- 8.3.6. Other
- 8.4. By Country (Value and Volume)
- 8.4.1. Germany
- 8.4.1.1. By Application (Value and Volume)
- 8.4.1.1.1. Aluminium
- 8.4.1.1.2. Cement
- 8.4.1.1.3. Power
- 8.4.1.1.4. Iron and Steel
- 8.4.1.1.5. Storage
- 8.4.1.1.6. Other
- 8.4.2. U.K.
- 8.4.2.1. By Application (Value and Volume)
- 8.4.2.1.1. Aluminium
- 8.4.2.1.2. Cement
- 8.4.2.1.3. Power
- 8.4.2.1.4. Iron and Steel
- 8.4.2.1.5. Storage
- 8.4.2.1.6. Other
- 8.4.3. France
- 8.4.3.1. By Application (Value and Volume)
- 8.4.3.1.1. Aluminium
- 8.4.3.1.2. Cement
- 8.4.3.1.3. Power
- 8.4.3.1.4. Iron and Steel
- 8.4.3.1.5. Storage
- 8.4.3.1.6. Other
- 8.4.4. Italy
- 8.4.4.1. By Application (Value and Volume)
- 8.4.4.1.1. Aluminium
- 8.4.4.1.2. Cement
- 8.4.4.1.3. Power
- 8.4.4.1.4. Iron and Steel
- 8.4.4.1.5. Storage
- 8.4.4.1.6. Other
- 8.4.5. Russia
- 8.4.5.1. By Application (Value and Volume)
- 8.4.5.1.1. Aluminium
- 8.4.5.1.2. Cement
- 8.4.5.1.3. Power
- 8.4.5.1.4. Iron and Steel
- 8.4.5.1.5. Storage
- 8.4.5.1.6. Other
- 8.4.6. Rest of Europe
- 8.4.6.1. By Application (Value and Volume)
- 8.4.6.1.1. Aluminium
- 8.4.6.1.2. Cement
- 8.4.6.1.3. Power
- 8.4.6.1.4. Iron and Steel
- 8.4.6.1.5. Storage
- 8.4.6.1.6. Other
- 9. Asia-Pacific Petroleum Coke Market Analysis, Insights and Forecast, 2017-2030
- 9.1. Key Findings / Summary
- 9.2. By Type (Value and Volume)
- 9.2.1. Fuel Grade Coke
- 9.2.2. Calcined Coke
- 9.3. By Application (Value and Volume)
- 9.3.1. Aluminium
- 9.3.2. Cement
- 9.3.3. Power
- 9.3.4. Iron and Steel
- 9.3.5. Storage
- 9.3.6. Other
- 9.4. By Country (Value and Volume)
- 9.4.1. China
- 9.4.1.1. By Application (Value and Volume)
- 9.4.1.1.1. Aluminium
- 9.4.1.1.2. Cement
- 9.4.1.1.3. Power
- 9.4.1.1.4. Iron and Steel
- 9.4.1.1.5. Storage
- 9.4.1.1.6. Other
- 9.4.2. Japan
- 9.4.2.1. By Application (Value and Volume)
- 9.4.2.1.1. Aluminium
- 9.4.2.1.2. Cement
- 9.4.2.1.3. Power
- 9.4.2.1.4. Iron and Steel
- 9.4.2.1.5. Storage
- 9.4.2.1.6. Other
- 9.4.3. India
- 9.4.3.1. By Application (Value and Volume)
- 9.4.3.1.1. Aluminium
- 9.4.3.1.2. Cement
- 9.4.3.1.3. Power
- 9.4.3.1.4. Iron and Steel
- 9.4.3.1.5. Storage
- 9.4.3.1.6. Other
- 9.4.4. Rest of Asia Pacific
- 9.4.4.1. By Application (Value and Volume)
- 9.4.4.1.1. Aluminium
- 9.4.4.1.2. Cement
- 9.4.4.1.3. Power
- 9.4.4.1.4. Iron and Steel
- 9.4.4.1.5. Storage
- 9.4.4.1.6. Other
- 10. Latin America Petroleum Coke Market Analysis, Insights and Forecast, 2017-2030
- 10.1. Key Findings / Summary
- 10.2. By Type (Value and Volume)
- 10.2.1. Fuel Grade Coke
- 10.2.2. Calcined Coke
- 10.3. By Application (Value and Volume)
- 10.3.1. Aluminium
- 10.3.2. Cement
- 10.3.3. Power
- 10.3.4. Iron and Steel
- 10.3.5. Storage
- 10.3.6. Other
- 10.4. By Country (Value and Volume)
- 10.4.1. Brazil
- 10.4.1.1. By Application (Value and Volume)
- 10.4.1.1.1. Aluminium
- 10.4.1.1.2. Cement
- 10.4.1.1.3. Power
- 10.4.1.1.4. Iron and Steel
- 10.4.1.1.5. Storage
- 10.4.1.1.6. Other
- 10.4.2. Mexico
- 10.4.2.1. By Application (Value and Volume)
- 10.4.2.1.1. Aluminium
- 10.4.2.1.2. Cement
- 10.4.2.1.3. Power
- 10.4.2.1.4. Iron and Steel
- 10.4.2.1.5. Storage
- 10.4.2.1.6. Other
- 10.4.3. Rest of Latin America
- 10.4.3.1. By Application (Value and Volume)
- 10.4.3.1.1. Aluminium
- 10.4.3.1.2. Cement
- 10.4.3.1.3. Power
- 10.4.3.1.4. Iron and Steel
- 10.4.3.1.5. Storage
- 10.4.3.1.6. Other
- 11. Middle East & Africa Petroleum Coke Market Analysis, Insights and Forecast, 2017-2030
- 11.1. Key Findings / Summary
- 11.2. By Type (Value and Volume)
- 11.2.1. Fuel Grade Coke
- 11.2.2. Calcined Coke
- 11.3. By Application (Value and Volume)
- 11.3.1. Aluminium
- 11.3.2. Cement
- 11.3.3. Power
- 11.3.4. Iron and Steel
- 11.3.5. Storage
- 11.3.6. Other
- 11.4. By Country (Value and Volume)
- 11.4.1. Saudi Arabia
- 11.4.1.1. By Application (Value and Volume)
- 11.4.1.1.1. Aluminium
- 11.4.1.1.2. Cement
- 11.4.1.1.3. Power
- 11.4.1.1.4. Iron and Steel
- 11.4.1.1.5. Storage
- 11.4.1.1.6. Other
- 11.4.2. South Africa
- 11.4.2.1. By Application (Value and Volume)
- 11.4.2.1.1. Aluminium
- 11.4.2.1.2. Cement
- 11.4.2.1.3. Power
- 11.4.2.1.4. Iron and Steel
- 11.4.2.1.5. Storage
- 11.4.2.1.6. Other
- 11.4.3. Turkey
- 11.4.3.1. By Application (Value and Volume)
- 11.4.3.1.1. Aluminium
- 11.4.3.1.2. Cement
- 11.4.3.1.3. Power
- 11.4.3.1.4. Iron and Steel
- 11.4.3.1.5. Storage
- 11.4.3.1.6. Other
- 11.4.4. Rest of Middle East & Africa
- 11.4.4.1. By Application (Value and Volume)
- 11.4.4.1.1. Aluminium
- 11.4.4.1.2. Cement
- 11.4.4.1.3. Power
- 11.4.4.1.4. Iron and Steel
- 11.4.4.1.5. Storage
- 11.4.4.1.6. Other
- 12. Competitive Landscape
- 12.1. Company Profiles
- 12.1.1. Oxbow Corporation
- 12.1.1.1. Overview
- 12.1.1.2. Description
- 12.1.1.3. Type Portfolio
- 12.1.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.1.5. Recent Developments
- 12.1.2. Suncor Energy Inc.
- 12.1.2.1. Overview
- 12.1.2.2. Description
- 12.1.2.3. Type Portfolio
- 12.1.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.2.5. Recent Developments
- 12.1.3. Phillips 66 Company
- 12.1.3.1. Overview
- 12.1.3.2. Description
- 12.1.3.3. Type Portfolio
- 12.1.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.3.5. Recent Developments
- 12.1.4. Aminco Resources LLC.
- 12.1.4.1. Overview
- 12.1.4.2. Description
- 12.1.4.3. Type Portfolio
- 12.1.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.4.5. Recent Developments
- 12.1.5. Nippon Coke & Engineering. Co., Ltd.
- 12.1.5.1. Overview
- 12.1.5.2. Description
- 12.1.5.3. Type Portfolio
- 12.1.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.5.5. Recent Developments
- 12.1.6. Petroleum Coke Industries Company
- 12.1.6.1. Overview
- 12.1.6.2. Description
- 12.1.6.3. Type Portfolio
- 12.1.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.6.5. Recent Developments
- 12.1.7. Renelux Cyprus Ltd.
- 12.1.7.1. Overview
- 12.1.7.2. Description
- 12.1.7.3. Type Portfolio
- 12.1.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.7.5. Recent Developments
- 12.1.8. Graphite India Limited
- 12.1.8.1. Overview
- 12.1.8.2. Description
- 12.1.8.3. Type Portfolio
- 12.1.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.8.5. Recent Developments
- 12.1.9. British Petroleum
- 12.1.9.1. Overview
- 12.1.9.2. Description
- 12.1.9.3. Type Portfolio
- 12.1.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.9.5. Recent Developments
- 12.1.10. Indian Oil Corporation Ltd
- 12.1.10.1. Overview
- 12.1.10.2. Description
- 12.1.10.3. Type Portfolio
- 12.1.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.10.5. Recent Developments
- 12.1.11. Chevron Corporation
- 12.1.11.1. Overview
- 12.1.11.2. Description
- 12.1.11.3. Type Portfolio
- 12.1.11.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.11.5. Recent Developments
- 12.1.12. Marathon Petroleum Corporation
- 12.1.12.1. Overview
- 12.1.12.2. Description
- 12.1.12.3. Type Portfolio
- 12.1.12.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.12.5. Recent Developments
- 13. Strategic Recommendations
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