Global Petroleum Coke (PetCoke) Market: Trends & Opportunities (2013-18)
The report entitled “Global Petroleum Coke Market: Trends and Opportunities (2013-18)” provides an insight into the market dynamics and changing trends of the global petroleum coke market. It covers the actual and forecasted industry production of petroleum coke and also outlines the various factors fuelling the demand of the same. It further captures the global market share based on the region and end market application. Further, the report discusses the domestic market of various countries such as the United States, the United Kingdom, India, China, Spain, Mexico, Japan, Russia and Canada. It also focuses on the various trends that are currently dominating the global pet coke industry. The report concludes with brief discussion of major factors driving the global pet coke market and profiling of major players like Chevron Corporation, Conoco Phillips, Exon Mobil and Valero Energy Corporation.
Valero Energy Corporation
Petcoke is a co-product of several distillation processes used in refining heavy crude oil. Nearly half of U.S. petroleum refineries (56 or more) uses a coking process to convert heavy crude oils into refined petroleum products, and more refineries are likely to follow to take advantage of the supply of heavy crude oils from Canada’s oil sands projects. Although it is a refining co-product, petcoke has economic value as both a heating fuel and raw material in manufacturing.
The global petroleum coke industry has been growing at a steady pace mainly as a result of the diverse end market application and easy availability of coke. The United States is the largest producer of pet coke and has a large number of cokers and oil refineries. However, following the recent economic recession, the dynamics of petroleum coke industry have shifted from mature Western market to the growing pet coke market.