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Asian Petcoke Market has improvingly gained much of significance in the past few years.



2024-03-25 07:27:20 Automotive

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Petcoke is a by-product of cracking or delayed coker units of oil refinery where crude oil with high Sulphur content is used as a feedstock. The demand for petcoke in Asia has been increasing due to increased consumption from major developing countries with rapid industrialization and also due to increased supply of heavy oils.
MARKET GROWTH TRENDS:
Application Outlook:
Petcoke market comes in two main types: calcined petcoke and fuel grade petcoke among which fuel grade petcoke occupies major share in the Asian market. The top leading end user industries of the Petcoke Market included in this Asian based report is Aluminum, Steel, Power and Cement. Aluminum sector occupies the largest market share and on the other hand, cement industry is projected to grow at the fastest CAGR growth rate.
Geographical Brief:
China is the largest petcoke producer with the world?s second largest refining capacity. It exports its petcoke to UAE, India, Australia and many others. The country imports most of the petcoke from the U.S. and Canada. The majority of the U.S. and Canada petcoke is being exported as its consumption is very less from end users. Coal and natural gas are much cheaper than petcoke in the U.S. and Canada. The U.S. coal prices are substantially lower than international coal prices so the country exports most of the petcoke to other regions.
In China, Petcoke is used as substitute of coal as it has high energy content and is cheaper compared to coal. It releases more carbon dioxide compared to coal and release metals that include chromium, arsenic, cadmium, nickel and mercury. China is the major petcoke consumer of high sulfur petcoke in the world. High sulfur petcoke release more toxic metals in to the environment. The Chinese government is taking necessary initiatives to reduce air pollution that is released from petcoke and the imports would slightly decrease in 2016 compared to 2015 due to ban on petcoke imports which do not meet certain quality specifications.
Market Segmentation:
The Petcoke Market of Asia is divided into 3 broad segments depending on the following 3 factors:
1. By Type: calcined petcoke and fuel grade petcoke.
2. By Application:
3. By Country: China, India, Japan and others (Indonesia, Malaysia, Kazakhstan And Thailand).
Key Market Vendors:
Petcoke market is expanding vigorously as many companies are taking initiatives for the developments that include business expansion, product launches, partnerships and many more. The largest business expansion was undertaken by Reliance industries Limited. The company invests Rs. 1,00,000 crore in digital platform project and the expansion of petrochemical business segment. Petrochemical and refining are the two core business segments of Reliance industries. The company?s petrochemicals project on petcoke gasifiers and off-gas crackers at Jamnagar is expected to commence its operations in early 2016.
Multiple leading companies are studied in this region specific market research report on Asian Petcoke Market with few of the top ones being:
? Indian Oil Corporation Ltd
? China National Petroleum Corporation
? Sinopec Corp
? China National Offshore Oil Corporation
? Reliance Industries Limited
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