Petcoke Market is anticipated to reach USD 25 billion by 2024
Date: 2018-11-20   Author: Rahul Sankrityayan  Category: #news

Petcoke Market is anticipated to reach USD 25 billion by 2024

Russia petcoke market is projected to reach over 5.5 MMT by 2024. Growing number of power stations coupled with increased investment towards aluminium and steel industries will fuel the industry landscape. Upgradation and expansion of existing refineries will further complement the business growth. In 2017, the PJSC Gazprom Neft announced to invest over USD 89.88 million to upgrade and modernize the existing 767,000 tones/year delayed coking units.

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Petcoke Market is expected to surpass USD 25 billion by 2024.Rapid industrialization across developing countries along with increasing demand for reliable and cost effective alternate fuels will stimulate the industry growth. In 2017, according to water and power ministry of Pakistan, the Chinese companies are subjected to invest USD 15 billion to construct dozen coal plant across the country over next 15 years.

Growing heavy crude oil import from the U.S. refineries to suffice increasing demand for refined petroleum products will stimulate the U.S. petcoke market share. Increasing investment towards upgradation of coker units will further complement the industry growth.

Growing demand for green fuel to enhance boiler efficiency will propel the petcoke market size. Strict government regulation to reduce trace of metal and NOx emissions will further positively impact the industry landscape. In 2016, European Union introduced directive 2016/2284/EU to reduce air pollutant emissions including sulphur dioxides, fine particulates matter, volatile organic compounds, ammonia and NOx by 2030. Less carbon emissions and low operation cost are some of its features which make its adoption preferable over other alternates.

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Increasing demand for manufacturing of graphite anodes & electrodes from aluminium & steel industries will embellish the calcined petcoke market share. Superior fuel properties and low sulphur contents are some of its features which make its adoption preferable over other alternates.

Mexico petcoke market was over 6MMT in 2016.Increasing demand for clean fuel from several industries including cement and power plant along with stringent government norms to curb carbon emissions will augment the industry. In 2014, Isolux and Alstom signed a contract with Federal Electricity Commission of Mexico to convert two 158 MW fuel oil units into petroleum coke unit at Altamira thermoelectric power station.

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Positive outlook towards commercial and industrial sector along with growing measures to reduce fossil fuel dependency will drive the India petcoke market share. In 2016, The UAE based Gamma group announced to invest USD 459 Million in the education, health and infrastructure sector of Kerala. The import of petroleum coke increased by 3.6 times since 2014 due to government cess of USD 4.68 on coal and there by propelling the product demand.

Key players in petcoke market include: Saudi Aramco, Royal Dutch Shell, Valero, Atha Group, Rain CII, Aminco Resources, Shamokin Carbons, ExxonMobil, Essar Oil, Bharat Petroleum, Valero, Carbograf, Oxbow, Marathon Petroleum, Reliance, BP, Husky Energy, HPCL-Mittal, Indian Oil and Cocan Graphite Trammo.



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Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for AlgosOnline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

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