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 : August, 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.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

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

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.