GlobalPetroleumCokeMarketOverview:
TheglobalpetroleumcokemarketwasvaluedatUS$17,980.6millionin2017 and isexpectedtoregisteraCAGRofover8%.
PetroleumCoke(Petcoke)isabyproductoftheoilrefiningprocess.Thechemicaland physicalpropertiesofpetcokeareafunctionofthecrudeoilandrefiningtechnologyusedby therefinery.Itisacarbon-richproduct,thatisderivedfromafinalcrackingprocess,whichis athermo-basedchemicalengineeringprocessthatsplitslongchainhydrocarbonsof petroleumintoshorterchains.
Therearefourbasicpetroleumcoketypes:needlecoke,honeycombcoke,spongecoke,and shotcoke.Owingtoitsphysicalproperties,itislargelyusedinenergyapplicationsandother industrialapplications.Thefuel-gradepetcokeisthelargestconsumedproducttypedueto itswiderenergyapplicationsinblastfurnacesandpowerplants.
Theglobalpetroleumcokemarketisdrivenbyfactorssuchas,growingusageofpetcokeasa costeffectivefuelincementsandenergyindustries,growthinproductionofaluminumand
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Risingpopulationandincreasingurbanizationarefuelingthegrowthoftheconstruction, electricityandpowergenerationglobally.Increasingdemandforcleanfuelalongwithstrict governmentregulationstoreducecarbonemissionswilldrivetheglobalpetroleumcoke market.Petcokeisfuelfordevelopingcountriesowingtothehighcarboncontents,after combustionitrelease10%moreCO2perunitofenergythatnormalcoaltheenergy effectivenessofpetcokeismainlythedrivingfactortheglobalpetroleumcokemarket. Thesesectorsareanticipatedtodrivethedemandforpetcoke.
Thepetcokeisresidueofmanufacturingprocessoftransportationfuel.Petcokeisrefinedby aprocessknownascoking.Theprocessislowcost,asthemanufacturingprocessislowcost thecostofpetcokeisalsolow.Thelowcostoffuelisdrivingthepetroleumcokemarketasit iscosteffectivetotheemergingeconomies.
However,theadverseeffectonrespiratoryprocesswillleadtorestrainingthegrowthglobal petroleumcokemarket.Aftercombustionofthepetroleumcoalemitssmallamountof hazardousgasessuchassulfurwhichcanmakeharmtotheoperatingpersonthiswillleadto therestrainthegrowthoftheglobalmarkethealthandenvironmentaleffectsofthepetcoke islikelytoactasrestrainingfactoraffectingtheglobalpetroleumcokemarketoverthe forecastperiod.
MarketAnalysisofGlobalPetroleumCokebyProduct Type:
Basedontypesegmentation,thefuelgradecokesegmentintheglobalpetroleumcoke marketholdsthemajorrevenueshareofover70.0%in2017,asitcanbeusedasan alternativetosteamcoalinvariouspowerplants,anditshighheatandlowashcontent makesitanidealfuelforpowergeneration.Increasingdemandfromcementkilns,and electricpowerplantsforfuelgradecokeisakeydriverforgrowthoftheglobalpetroleum cokeproductsegment.
Thiscanbeattributedtopreferenceoffuelgradecokebyendusers,coupledwithlowcostof fuelgradecokeascomparedtocalcinedcoke.Thefuelgradecokesegmentaccountedfor thehighestrevenueshareoftheproductsegment,andisexpectedtocontinueitsdominance overtheforecastperiod.Yearon-Yeargrowthofthecalcinedcokesegmentisexpectedto
ViewInfographicincreasesteadilyovertheforecastperiod,owingtoadvancementsincalcinedpetroleum coke,coupledwithsteadygrowthofthealuminumandsteelindustries.
MarketAnalysisofGlobalPetroleumCokebyEnd-user:
Onthebasisoftypesegmentation,thefoundriessegmentintheglobalpetroleumcoke marketholdsthemajorrevenueshareofover40.0%in2017,owingtofactorssuchasrising industrializationdevelopmentsindevelopingeconomiesincludingtheAsiaPacificregion.
Thecementindustrysegmentaccountedforasignificantmarketrevenuesharein2017,and isprojectedtodeclineto25%in2026,owingtodecliningdemandforpetroleumcokefrom cementindustriesduetoenvironmentalconcerns.Thegrowthofthepetroleumcokeinthe cementindustrycanbeattributedtohighdemandforpetroleumcokefromcementindustries intheAsiaPacificregion,duetoincreasinginfrastructuredevelopments,andcosteffectivenessascomparedtootherfuels.
MarketAnalysisbyGlobalPetroleumCokebyRegion:
Geographically,theAmericasaccountsforthelargestsharein2017andisexpectedto witnessCAGRofover8%duringtheforecastperiod,owingtofactorssuchasgrowingusage ofpetcokeasacosteffectivetoolincementsandenergyindustries.Increasingexportsof petroleumcokefromUS,duetoitslowerpricesthaninternationalpetroleumcokepricesis keyfactorexpectedtodrivegrowthofthepetroleumcokemarketinthisregion.
However,increasinguseofcoalandnaturalgaswhicharemoreeconomicalfuelthan petroleumcokeforuseinpowergenerationandmechanicalapplicationexpectedtorestrict growthofthepetroleumcokemarketinthisregion.Inaddition,increasinguseofwaste derivedfuelinpowerandcementindustriestoincreaseenergyefficiencyandtoavoid environmentalconcernsexpectedtorestrictgrowthofthepetroleumcokemarketinthis region.
ThemarketinEuropeforpetroleumcokeisexpectedtowitnessasteadygrowth,attributed toincreasinguseinsteelandcementindustryand increasingnumberofpowergenerating station,owingtolowashandhighheatcontentwhichmakespetroleumcokedescentsolid fuelforgeneratingpowerandincreasinguseofCalcinedPetroleumCoke(CPC)to manufactureanodesforsteelandaluminumindustryexpectedtofuelgrowthofthe petroleumcokemarket.
attributedtosmallandprivatecompaniesinChinashiftingtheirpreferencefromcoalto petroleumcokeduetoitslowerpriceisexpectedtodrivegrowthofthepetroleumcoke marketinthisregion.InIndia,consumptionofpetroleumcokeisincreasingduetoincreasing
keyfactorexpectedtodrivegrowthofthepetroleumcokemarketinthisregion.
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