The
rising demand for petcoke from energy-hungry cement and power
industries will result in the global petroleum coke market
registering a high single-digit growth rate over the next few years,
says a latest study by Transparency Market Research. The report,
titled ‘Petroleum Coke Market - Global Industry Analysis, Size,
Share, Growth, Trends and Forecast, 2014–2020,’ finds that the
market will be worth US$ 24,117.9 million by 2020, rising from its
2013 value of US$ 13,288.0. This translates into a CAGR of 8.5% from
2014 to 2020.
Browse
Petroleum Coke Market Report with Full TOC at
http://www.transparencymarketresearch.com/petroleum-coke-market.html
The
key finding of the report is that the pet coke trade is increasingly
swinging east with a heavy demand for fuel grade coke from rapidly
industrializing countries in the Asia Pacific region. India and China
are emerging as the leading consumers of petcoke as their demand for
power continues to mount at an unprecedented pace.
The
report analyzes two major segments in the petroleum coke market –
fuel grade coke and calcined coke. The former is projected to remain
the predominant segment globally because it is regarded as being more
cost competitive than coal and natural gas. The other key advantage
that pet coke carries is its high calorific value as compared to coal
and natural gas.
Data
analyzed in the report also shows that increasing aluminum production
will trigger high demand for calcined pet coke. On the flip side, the
pollution-causing attributes of petroleum coke and the detrimental
effects of the same will likely impede the growth of the petcoke
market. In this context, participants in the pet coke market can
engage in petcoke gasification to produce clean power and enhance
profit margins.
While
fuel-grade petcoke constituted over 72.0% share of the petroleum coke
market in 2013, calcined coke held 26.0% of the total market share in
the same year. By 2020, the demand for calcined petroleum coke is
projected to slip down marginally to reach 24.0% of the global market
share. Calcined petroleum coke is widely used in the following
industries: Aluminum, paints and colorings, paper, steel, and
fertilizer.
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In
2013, Asia Pacific was reported to be the predominant petroleum coke
market globally. About 32.0% of all revenue in the pet coke market
came from Asia Pacific in the same year. This can be assigned to the
massive demand for petcoke from China and India. The cement and power
generation industries consume the bulk of petcoke in India and China.
The
findings of the report also reveal that Europe accounted for slightly
less than a quarter (24.0%) of the global petroleum coke market in
2013. Asia Pacific and Europe will report the highest growth rate
through the report’s forecast period, making them lucrative regions
for companies in the pet coke market.
Notable
participants in the petcoke market that have been profiled in the
report are: BP Plc, Essar Oil Ltd, Chevron Corporation, Indian Oil
Corporation Limited, ExxonMobil Corporation, Reliance Industries
Limited, Saudi Arabian Oil Company, Royal Dutch Shell Plc, and Valero
Energy Corporation.
Browse
Press Release Of Petroleum Coke Market
http://www.transparencymarketresearch.com/pressrelease/petroleum-coke-market.htm
About
Us
Transparency
Market Research (TMR) is a global market intelligence company
providing business information reports and services. The company’s
exclusive blend of quantitative forecasting and trend analysis
provides forward-looking insight for thousands of decision makers.
TMR’s experienced team of analysts, researchers, and consultants
use proprietary data sources and various tools and techniques to
gather and analyze information.
TMR’s
data repository is continuously updated and revised by a team of
research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
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