According to the new market research report by IndustryARC, “Asian Petcoke Market: By Type (Calcined Petcoke and Fuel Grade Petcoke); By Application (Aluminum, Steel, Power, Cement And Others); By Region (China, India, Japan, Others) - (2018-2023)”, the market is driven by the increased demand from end user industries, especially from aluminum, cement and power plants.
Browse 33 Market Tables, 33 Figures spread through 84 slides and an in-depth TOC on “Global Asian Petcoke Market (2018 - 2023)”
China continues to lead the market share during 2018-2023
China is the major petcoke producer in Asia, with the world’s second-largest refinery capacity. China consumes over 70-80% of the petcoke that is produced domestically. India is the next major producer after China, within Asia. The domestic petcoke that is produced in China is not sufficient enough to meet the overall demand. So, the country imports petcoke from U.S., UK, Canada and other countries. China occupied major share in 2017 and is estimated to grow at a CAGR of 6.2% till 2023. India and China are projected to increase the consumption of petcoke by 2023, but with slightly lower growth rate comparatively, due to various environmental concerns.
Petroleum products are usually derived from crude oil as it is processed from oil refineries. Refineries can produce various types of petroleum products based on the demand of the market.
Petrochemicals are chemicals made from crude oil and natural gas and account for approximately 40% of the world‘s chemical market. Petcoke is also obtained from crude oil as it is considered as the valued consumer product during oil refining process.
Petcoke is generally a bottom of barrel product which is delivered as a residue that is obtained from the crude oil, in the form of hydrocarbons.
Petcoke is generally a carbonaceous solid which is obtained from the cracking process through coker units.
Delayed coker, flexicoker and fluid coker are the three coker units where the dark residue can be converted into raw petroleum coke. Out of the three, delayed coker unit is the most commonly used.
Coker units further produce calcined petcoke and fuel grade petcoke which are used in end user industries that include cement, power, steel and aluminum industries.
The major countries in Asia such as India, China and Japan, has import tariffs. The average total duty on petcoke is 28 for both calcined petcoke and fuel grade petcoke.
The other common product items that comes under HS code 27131200 are petroleum coke, calcined petroleum, grade calcined, electrode grade.
The other common product items that comes under HS code 27131100 are petroleum coke, green delayed, delayed petroleum, raw petroleum, Fuel Grade.
Excerpts on Market Growth Factors Mentioned in the Full Report:
- The rising demand for Pet Coke across almost all countries in Asia is expected to drive the demand and growth for the market throughout the forecast period.
- The demand for petcoke in Asia has been increasing due to increased consumption from major developing countries with rapid industrialization and also due to the increased supply of heavy oils. This factor is expected to propel the market growth rate.
Key Players of the Asian Petcokes Market:
- Sinopec is the major producer in China, with more than half of China’s petcoke production, followed by CNPC and CNOOC. Others category includes local refineries which contributed to 21% of the total production.
- Local refineries depends on high-sulfur heavy oil which is obtained from domestic oil fields, imported oil, and residual oil that are more likely to produce high sulfur petcoke. Petcoke produced by state owned enterprises that include Sinopec, CNPC, and CNOOC produces low sulfur content.
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