The petroleum coke market is growing at a significant rate due to emerging economies in the Asia-Pacific region. As the largest importer of petroleum gas, Asia-Pacific dominates the petroleum coke market in terms of demand.
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In China, most of the petroleum coke is used in power plants for generating electricity, whereas in India most of the petroleum coke is used in cement kilns owing to rapid industrialization and increased population in the countries. Crude oil leaves some residual crude when it is processed into diesel fuel, gasoline, lubricating oils, jet fuel, and waxes that undergo further processing.
The crude residue is further refined by coking, a process to produce transportation fuels and petroleum coke, having a range of uses as an alternative and cost-effective fuel. On the basis of type, petroleum coke can be categorized as fuel grade coke and calcined petroleum coke. Fuel grade coke can be subcategorized as shot coke and sponge coke.
Petroleum coke can be categorized on the basis of end users as cement kilns, calcining, blast furnace and power plants. Power plants and cement kilns had grown with the fastest rate among the applications of petroleum coke. Petroleum coke gasification leading to clean production of power is one of the opportunities for growth of the petroleum coke market.
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Indian Oil Corporation Limited, Essar Oil Ltd., Royal Dutch Shell Plc, ExxonMobil Corporation, BP Plc, Valero Energy Corporation, HPCL – Mittal Energy Limited, Saudi Arabian Oil Co., Chevron Corporation, and Reliance Industries Limited are some of the major competitors in the petroleum coke market.
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