Petcoke Market Expecting Huge Growth by 2024 Profiling Key Players Exxon Mobil Corporation, Royal Dutch Shell, Saudi Aramco, BP, Essar Oil

Global Market Insights has announced the launch of Petcoke Market, a comprehensive study enumerating the latest price trends and pivotal drivers rendering a positive impact on the industry landscape. Further, the report is inclusive of the competitive terrain of this vertical in addition to the market share analysis and the contribution of the prominent contenders toward the overall industry.

The size of Petcoke Market was registered at USD 11 Million in the year 2016 and is anticipated to cross USD 25 billion by 2024. Between the period 2017 -2024, the Petcoke market is expected to register a CAGR of 10%.The alleged Supreme Court order to ban the use of pet coke and furnace oil, as a proposition to fight the pollution in the country, as per experts, is a major move creating a huge impact on India petroleum coke industry demand. Reportedly, the Environment Bench, earlier this year in October, already passed an order to ban the usage of pet coke and furnace oil in industrial arenas in the states of Haryana, Uttar Pradesh, and Rajasthan.

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As per the reports, India is the world's largest consumer of petroleum coke, which as claimed by The Carnegie-Tsinghua Center for Global Policy, is responsible for 11 per cent more greenhouse gas emissions than coal. Not only this, this arguably prevalent industrial fuel, is also infamous for emitting a considerable percentage of Sulphur dioxide during its combustion process. The ban policy allegedly comes on the heels of such hazardous aspects of pet coke and the already deteriorating environmental scenario in India.

The major aspect of this ruling has been on the material import, which has become a prime concern for the environmental forums. As per reliable reports, the overall petroleum coke market size in India, in terms of consumption accounts for approximately 25 million tonnes, exempting 13 million tonnes from this, the rest is imported. The aforementioned statistics is evident enough to validate the efforts undertaken by the legislative bodies with reference to limiting the import of this material.

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In fact, as per the latest reports, the ban which was at present, limited to the three states comprising Uttar Pradesh, Rajasthan, and Haryana is likely to be imposed on the entire country. It is prudent to mention that the above bulletin has created quite a strenuous situation for the involved local players in the petroleum coke market, including Reliance Industries, Bharat Petroleum Corp., and Indian Oil Corp. Over the recent years, India's renowned refiner IOC in collaboration with few other refiners have invested billions in the installation of coker units to manufacture gasoline and LPG. These units, reportedly, produced approximately 25%-30% of pet coke as a byproduct, which was then sold by these refiners to the local industries. Reportedly, the latest order by the Supreme Court has created much ordeal for the pet coke industry players regarding the usage of the fuel.

Though India, in comparison to the other regions, faced quite a volatility in the aluminum demand over the recent years, industry experts cite the upcoming trends to be lucrative for the country, given the growing infrastructure spending, increasing demand for packaging materials, and the government focus toward improving the power transmission and distribution. This, in extension, testifies the potentially lucrative path for India pet coke market over the coming years.

Partial Table of Contents (ToC) of the report:
Chapter 4. Petcoke Market, By Grade
4.1. Petcoke Market share by grade, 2016 & 2024
4.2. Fuel Grade
4.2.1. Market estimates and forecast, 2013 - 2024
4.3. Calcined Grade
4.3.1. Market estimates and forecast, 2013 - 2024
Chapter 5. Petcoke Market, By Physical Form
5.1. Petcoke market share by physical form, 2016 & 2024
5.2. Sponge Coke
5.2.1. Market estimates and forecast, 2013 - 2024
5.3. Purge Coke
5.3.1. Market estimates and forecast, 2013 - 2024
5.4. Shot Coke
5.4.1. Market estimates and forecast, 2013 - 2024
5.5. Needle Coke
5.5.1. Market estimates and forecast, 2013 - 2024

Browse complete table of content of this report @ https://www.gminsights.com/toc/detail/petroleum-coke-market

Looking at the dynamic scenario with regulatory landscape as a frame of reference, it is quite overt that petroleum coke industry in the coming years will witness quite a revolution of sorts, with regard to its demand-supply curve and production & supply chain models. What remains to be seen is how India, the largest consumer of this infamous fuel till date, survives this challenging upheaval. However, on grounds of a broad application portfolio of this industry spanning steel, cement, power plant, aluminum, experts forecast a rather lucrative roadmap for the worldwide petroleum coke market in the coming years. As per Global Market Insights, Inc. the global petroleum coke industry share is anticipated to surpass a mammoth valuation of USD 25 billion by 2024.

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