Fuel-Grade Petcoke Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Fuel-Grade Petcoke Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : October, 2020 | Energy & Mining | PPT format

Report Digest


Global Fuel-Grade Petcoke Market: Overview

Petcoke (a common abbreviation for petroleum coke) has generated considerable interest among hydrocarbon producers and end-use industries as a carbon-rich fuel-producing material, thereby underpinning the steady evolution of the market. While the composition of petcoke varies, fuel-grade material is characterized by high heat and low ash content, making it especially suitable in power producing units. Fuel-grade coke is popularly increasing in application in cement kilns, blast furnaces, power plants, steel, brick, lime industries, and glass industries. Fuel-grade petcoke is extensively garnering demand in chemical, steel, cement, and power industries. Suppliers, world over, in the fuel-grade petcoke market are focused on offering a wide range of petcokes with consistent quality.

Global Fuel-Grade Petcoke Market: Notable Developments

Development initiatives for producing fuel-grade petcokes in recent years are influenced by the changing mix of feedstock fuel in the aluminum, steel, and titanium smelting industries. This has also impacted the dynamic in the hydrocarbon energy businesses with prominent manufacturers spearheading such initiatives. Following two developments underscore the changing dynamics: 

  • Larsen and Toubro, an internationally prominent infrastructure company, has in March 2019 bagged a mammoth order of nearly US$359 (INR 2,500 Cr) from Tawfiq Coke Products. Under the contract, the company will engage itself in the engineering, procurement, and construction of calcined coke plan. The contract, which is likely to end up by 2022, will see L&T construct and expand fuel-grade coke plant in Sohar, Oman. Specifically, the company will make anodes used in the smelting industry. Once calcining plant commences operation, the region will see the production of at least 450,000 metric tonnes of calcined petrocoke each year. Of note, BSW Group Holdings will fund the development of the plant.
  • The above development also bodes well for secondary concerns to the overall environment. This will bring down the volume of exports for green coke and by aluminum smelters and other businesses in the end-use industries.
  • A recent pertinent development that can greatly influence the dynamics of the global fuel-grade petcoke market is a recent advances in Asphaltene-removal technology for refiners-- novel noncombustion asphaltene. These refiners play an increasingly important role, given the severe regulatory curbs to contain the abundance of fuel-grade petcokes. These refiners buy petcoke, which will make the best use of fuel-grade petcokes using an environmentally-friendly process.

Some of the most prominent competitors operating in the competitive landscape of global fuel-grade petcoke market include –

  • Suncor Energy
  • Repsol
  • Phillips 66
  • Oxbow
  • Indian Oil Corporation

Global Fuel-Grade Petcoke Market: Key Growth Dynamics

The rising demand for cost-effective solid substitute fuel is a key factor driving the global fuel-grade petcoke, especially in the cement and power sectors. These industries popularly use blast furnaces for manufacturing iron and steel.

Since fuel-grade petcoke is a byproduct in petroleum processing, the global market has been witnessing an increasing growth impetus from rising oil refining processes in various parts of the world. This rides on the back of the substantial demand for oil to be used as fuel in several countries.

The advent of blast furnaces using with technically improved designs is a notable trend expected to propel the rapid evolution of the global fuel-grade petcoke market. Such design advancements are notably motivated by concerns of the end-use industries for environmental concerns.

Global Fuel-Grade Petcoke Market: Regional Assessment

A number of developing regions and emerging economies, such as the Middle East and India, are expected to hold enormous potential in the global fuel-grade petcoke market. This in part is attributed to several ventures and agreements for expanding the production capacity of fuel-grade petcokes. Rapidly expanding power and cement productions in the Americas is expected to churn out substantial revenues to the global fuel-grade petcoke market.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?