Global Petroleum Coke Market to Grow at a CAGR of 7.0% During 2024-2032, Aided by the Increase in the Supply of Heavy Oils Globally

The market for petroleum coke experiences a significant impact from the aluminium industry, particularly in the use of anode-grade coke crucial for aluminium smelting. The global increase in demand for aluminium, driven by its versatile applications in industries such as automotive, construction, and packaging, plays a direct role in shaping the petroleum coke market growth.

With aluminium gaining prominence in lightweight and energy-efficient designs, especially in the automotive sector to reduce vehicle weight and enhance fuel efficiency, the demand for petroleum coke rises correspondingly. This surge in demand from the aluminium industry contributes to the growth and dynamics of the market.

The cement industry stands as another significant consumer of petroleum coke due to the expanding global construction industry, particularly in developing countries. The rising demand for cement as a construction material contributes directly to the demand for petroleum coke. As a fuel in cement kilns, petroleum coke provides high calorific value and consistency, making it an ideal alternative to traditional fuels such as coal.

The increased demand for cement plays a pivotal role in driving the market, as manufacturers seek more efficient and cost-effective fuel options to enhance production efficiency in response to the growing demand for construction materials.

In April 2023, Valero Energy Corp (NYSE: VLO) announced to commence operations on a recently constructed coker at its Port Arthur, Texas refinery, with a capacity of 55,000 barrels per day (bpd), according to individuals familiar with the facility's operations. This production startup comes after the successful overhaul of the 115,000-bpd AVU-147 crude distillation unit (CDU).

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Market Breakup by Grade, Physical Form, End Use, and Region:

• The market, on the basis of grade, can be divided into fuel grade and calcined coke.

• Based on physical form, the market can be segmented into needle coke, sponge coke, catalyst coke, shot coke, and purge coke.

• The market, on the basis of end use, can be divided into power plants, cement industry, steel industry, and aluminium industry, among others.

• The major regional markets for petroleum coke include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The growing industrial sector in emerging economies, notably in countries such as China, India, and Brazil, is a major driver for the petroleum coke market expansion. These nations are actively investing in infrastructure and manufacturing, leading to an increased demand for cost-effective fuels like petroleum coke. The burgeoning industrial activities in these regions contribute significantly to the market growth, reflecting the pivotal role of petroleum coke in meeting the energy needs of expanding industries in emerging economies.

• In addition to its high calorific value, petroleum coke serves as a valuable energy source for power plants and various industries, including cement and steel. The increasing infrastructure activities and urbanisation trends are expected to contribute to the growth of the market.

• The rapid technical advancements and the expanded oil production capacity are key factors driving the global growth of the market. The increasing consumption of petroleum coke as a cost-effective fuel in both the cement and energy industries is a significant driver for the market's expansion.

Key Offerings of the Report:

• The EMR report gives an overview of the global petroleum coke market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the grades, physical forms, end uses, and major regions of the petroleum coke.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, value chain analysis, trade data analysis, price analysis, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global petroleum coke market include BP Plc, Phillips 66 Company, PJSC Lukoil, Royal Dutch Shell Plc, Indian Oil Corporation Ltd., Valero Marketing and Supply Company, and Essar, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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