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Global Petroleum Coke Market Size, Share, Development, Growth and Demand Forecast to 2023
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Crude oil leaves some residual crude when it is processed into diesel fuel, gasoline, lubricating oils, jet fuel, and waxes that undergo further processing. The crude residue is further refined by coking, a process to produce transportation fuels and petroleum coke, having a range of uses as an alternative and cost-effective fuel.
On the basis of type, petroleum coke can be categorized as fuel grade coke and calcined petroleum coke. Fuel grade coke can be subcategorized as shot coke and sponge coke.
Petroleum coke can be categorized on the basis of end users as cement kilns, calcining, blast furnace and power plants. Power plants and cement kilns had grown with the fastest rate among the applications of petroleum coke.
Petroleum coke gasification leading to clean production of power is one of the opportunities for growth of the petroleum coke market. Increase in aluminum production, and increased usage of petroleum coke as a fuel in power and cement industries in the Asia-Pacific countries are some of the factors that are driving the growth of the petroleum coke market to a significant extent.
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Indian Oil Corporation Limited, Essar Oil Ltd., Royal Dutch Shell Plc, ExxonMobil Corporation, BP Plc, Valero Energy Corporation, HPCL - Mittal Energy Limited, Saudi Arabian Oil Co., Chevron Corporation, and Reliance Industries Limited are some of the major competitors in the petroleum coke market.
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