North America, led by the U.S., has witnessed significant growth in the petroleum coke market owing to lower freight rates especially for high sulfur coke.

OCEAN VIEW, DELAWARE, UNITED STATES, March 20, 2017 /EINPresswire.com/ -- Global Petroleum Coke Market is set to witness substantial growth owing to increasing use of petroleum coke in power generation and cement industries Cement industry is the primary consumer of pet coke, accounting for a large proportion of the total demand of the product and any deviation in the consumption pattern of the cement industry reflects proportionally in the petroleum coke market demand.

Refineries and petrochemical companies dependent on natural gas and deterred by high price of gas and liquid fuels are focusing on petcoke as a fuel for confined power generation and an asset for manufacturing certain chemicals. Petcoke finds applications in industries including paints and coatings, steel, paper, textiles, bricks and fertilizers, which will boost the petroleum coke market share during the forecast timeline.

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Increasing production of pet coke is augmented by relatively low ash content, high caloric value and minimal toxicity. Refineries are employing different coking operations to obtain petcoke as a desirable co-product of numerous distillation processes used in heavy crude oil refining which further strengthen the petroleum coke market. The major variables of production include availability of different types of heavy and light crude oils and their cost benefit analysis. Production of different grades depends on the coking process and the available crude oil.

Fuel and calcined are the broad classification of petroleum coke based on grade. The product grade is primarily characterized by the sulfur content. Fuel grade holds a dominant position in the global petroleum coke market. Industries including power plants, steel and cement have high demand for fuel grade product. Fuel grade coke can be blended with the conventional coal fired boilers, incurring a high demand for the product. Technologically enhanced boiler designs have replaced steam coal entirely. Anode grade calcined petroleum coke is primarily used as a raw material which for manufacturing carbon anodes which are used in smelting operation of aluminum, titanium and steel.

North America, led by the U.S., has witnessed significant growth in the petroleum coke market owing to lower freight rates especially for high sulfur coke. According to the U.S. Energy Information Administration (EIA), the U.S. supplies over one-half of the petcoke traded in the global industry with China being its major buyer. The other major countries importing petcoke from the U.S. include India, Japan, Brazil, Mexico and Turkey which collectively accounts for substantial share of the exports. Demand for the U.S. petroleum coke is strongest in Asia Pacific, owing to expanding infrastructure, robust economic growth and large requirements for power generation in the region.

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Increasing development in economies and expanding infrastructure in Middle East & Africa is emerging as a key driver for petroleum coke market owing to the use of coke as a secure and economical alternative fuel and feedstock for power that can diminish the region's rising oil dependency. Europe, led by Germany, is anticipated to witness moderate growth in petroleum coke market owing to its limited use in commercial brick kilns and space heating.

Some of the key players in petroleum coke market includes Saudi Arabian Oil, Essar Oil, Reliance Industries, Chevron Corporation, Royal Dutch Shell, BP, ExxonMobil, Valero Energy Corporation and Indian Oil Corporation, Trammo, Marathon Petroleum, Oxbow Corporation, Aminco Resources, Shamokin Carbons.

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