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ExxonMobil, Chevron, Petcoke Market Trends to 2024 Profiling Saudi Aramco, Valero, Reliance, Husky Energy, Atha Group, Oxbow, Trammo, Essar Oil, Bharat Petroleum

10-18-2018 12:11 PM CET | Energy & Environment

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Petcoke Market, Global Petcoke Market Size, Petcoke Industry, Petcoke Market Trends, Petcoke Market Share

Petcoke Market, Global Petcoke Market Size, Petcoke Industry, Petcoke Market Trends, Petcoke Market Share

The expansion of the global petcoke market is inherently characterized by the robust worldwide demand for clean fuel supported by the stringent regulations enforced by regional governments and administrative bodies to reduce carbon emissions. While the traditional sources of fuel are essentially taking a backseat on account of the escalating trend of deploying renewable energy sources, petcoke is still gaining traction as compared to its other counterparts. This growth in demand can be attributed to several advantages provided by the product, one of which borders alongside the fact that petcoke boasts of a high calorific value, especially when compared to lignite. One of the most prominent driving forces behind the growth of petcoke market is the rising demand in the aluminum industry for the fabrication of aluminum smelter anodes. Indeed, the expansion of this vertical on account of the aluminum industry is rather commonplace, given that it encompasses the involvement of law at periodic intervals. Global Petcoke Market size will exceed USD 25 billion by 2024, as reported in the latest study report.

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For Europe, Russia petcoke market is projected to exceed 5.5 MMT by 2024. Positive outlook towards steel and aluminum industries along with increasing number of power generating stations will stimulate the product demand. Ongoing modernization and expansion of existing refineries will further complement the industry landscape.

U.S. petcoke market size will grow owing to growing investment towards expansion of coker units. In 2016, McPherson refinery announced to invest USD 579 million for multiyear coker replacement project to refine cheaper high density and large sulfur content crude oils. Increasing import for heavy crude oil from the U.S. refineries along with rising demand for value added refined products will further augment the business.

Growing demand for environment friendly fuel to enhance boiler efficiency will stimulate the petcoke market size. Stringent government norms to reduce NOx and trace metal emission will further complement the industry growth. In 2016, EU introduced Directive 2016/2284/EU to curb air pollutant emissions including VOC, ammonia, sulfur dioxides, NOx and fine particulate matters by 2030.

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Calcined petcoke market will grow on account of rising demand for manufacturing of graphite electrodes and anodes from steel and aluminum industries. Low sulphur content and superior fuel properties are some of the key parameters which will stimulate the product penetration.

Mexico petcoke market consumption in 2016 was over 6 MMT. Burgeoning demand for clean fuel from power plant and cement industries along with strict government regulations to reduce air pollution will propel the business growth. In 2014, Isolux and Alstom signed an agreement with Federal Electricity Commission (CFE) to convert 158 MW of fuel oil units to petroleum coke at the Altamira power station.

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

Table of Content:

Chapter 1. Petcoke Market Methodology and Scope

Chapter 2. Petcoke Market Executive Summary

Chapter 3. Petcoke Industry Insights

Chapter 4. Petcoke Market, By Grade

Chapter 5. Petcoke Market, By Physical Form

Chapter 6. Petcoke Market, By Application

Chapter 7. Petcoke Market, By Region

Chapter 8. Petcoke Market Company Profiles

Outer scope of this report citing an instance of the aforementioned, recently, The Supreme Court of India fixed a limit for the imports of petroleum coke at around 0.5 metric tons per annum and the limit for the imports of calcined petroleum coke at 1.4 metric tons per annum. The announcement comes on the heels of the Supreme Court profoundly easing the imposed ban on the use of petcoke in the limestone and cement industries. The reason for the same can be attributed to the fact that it had been proved earlier, that pet coke in cement is not precisely harmful owing to the absorption of sulphur and its usage is rather pivotal to the cement industry. Indeed, the cement and aluminum industries had even proposed that their usage of petcoke would not harm the environment, since they use the same as a feedstock and not a fuel.

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Related Report:

United States Petcoke Market Research Report Forecast 2017-2021

The United States Petcoke Market Research Report Forecast 2017-2021 is a valuable source of insightful data for business strategists. It provides the Petcoke industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Petcoke market study provides comprehensive data which enhances the understanding, scope and application of this report.

https://www.marketstudyreport.com/reports/united-states-petcoke-market-research-report-forecast-2017-2021?utm_source=RR-SP

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