Petroleum Coke Market to Grow at a CAGR of 8.5%, a New Research Report by Infinium Global Research

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Pune, India — 02/05/2018 — According a report published by Infinium Global Research the global Petroleum Coke market was worth USD 16.70 billion in 2016 and it is projected to reach USD 29.47 billion in 2023, expanding at a CAGR of 8.5% between 2017 and 2023. In terms of volume of consumption the market size, of Petroleum Coke was 80201.8 kilo tons in 2016 and it is projected to reach 133145.4 kilo tons by the end of 2023, growing at a CAGR of 7.5% over the forecast period 2017-2023.

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Growing usage of petcoke as a cost effective fuel in cements and energy industries to drive the pet coke market in the years to come

According to International Energy Agency, coal provided approximately 41% of overall electricity requirements of the world until 2013. With a share of 29% in the global energy supply, coal is only next to oil, which had 31 % share by the end of 2015. Therefore, replacing coal as a fuel in energy sector is a likely to be difficult in terms of volume.  According to British Petroleum's statistical review of world energy, global coal production in 2006 was 3194.7 million tons and it became 4006 million tons in 2013. However, it fell to 3656.4 million tons in 2016. The environmental impact has forced many industries to reduce the usage of coal. However, the increasing price of coal has impacted its production over the last few years. The shortfall in production of coal has been covered by alternatives such as petroleum coke. The price difference make petroleum coke a cheaper alternative fuel to coal in energy sector. The carbon cess applied on coal in various industries by various governments, make coal a costlier fuel. Coal based industrial units have to buy carbon credits to offset the environmental impact caused by the emissions. As per Infinium Global Research's estimate, petcoke consumption in power plants was 13296.1 kilo tons in 2016 and that in Cement industry was 17907.8 kilo tons. The consumption has grown significantly from 2015 and it is anticipated to grow progressively in coming years.

Hazardous impact on environment and human health to hamper the growth in the petcoke market

According to US Environmental Protection Agency, dust of petroleum coke from petcoke storage and handling operations poses health risk to human health. Particulate matter with diameter of 10 micrometers is dangerous as it can pass through nose and throat and end up in lungs. In Delhi NCR, India, petroleum coke is banned by National Green Tribunal due to the pollution caused by industries such as cement, steel, and textile, among others using it. Petroleum coke upon burning release sulphur oxides and nitrogen oxides in large quantities and it is considered very harmful for humans. Michigan Department of Environmental Quality did a toxicity assessment of petroleum coke dust.

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According to their report, “Human exposure to fine particulate matter emissions from petcoke storage piles, at sufficiently high concentrations and durations of exposure, could cause respiratory and cardiovascular effects characteristic of particular matter inhalation exposure”. Petroleum coke has more chance to get airborne than some other materials as it contains huge amount of finer silt and hence, the chances of impact on lungs and hearts are there reasonable if humans are exposed to it. Petcoke has higher overall emissions when compared to other bulk materials. Long-term inhalation of petcoke particles can cause pulmonary inflammation. Uncalcined petroleum coke might ignite if exposed to heat and hence transportation and storage of petcokeis carried out in safe manner. Green coke contains more volatile matter and hence it is considered to possess more potential for causing human or environmental hazards. Petroleum coke contains heavy metals such as nickel, selenium and vanadium. Moreover, it contains polycyclic aromatic hydrocarbons which can cause wide range of health problems including cancer. However these metals and hydrocarbons content in petcoke is less. However, if petcokeis burned, as it contains high sulphur content, effluent gases it can cause acid rain. The heavy metals in petcoke can get dispersed in environment. Petcokeis considered relatively safer. However, exposure of petcoke for longer duration can cause health problems to humans.

Browse Research Report: https://www.infiniumglobalresearch.com/energy_mining_infra/global_petroleum_coke_market

Global Petcoke Market by product

Calcined Coke,
Fuel Grade Coke.
Global Petcoke Market by End Use

Power Plants
Cement Industry
Blast Furnace

About Infinium Global Research
Infinium Global Research and Consulting Solutions is started with a single motto of being business partner of first choice. We at Infinium work on the strengths of our clients to ensure we help them consolidate their market position. We firmly believe in the fact that 'if you are able to develop newer opportunities then you find there is no dearth of opportunities for you. With our strategic research approaches and deep dive in the market segments, we try to find out new opportunities that our clients can encash with their existing resources. Our experts with over 100 years of cumulative experience in research offer the best in the industry services to our clients to ensure that they achieve their business goals.

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Jasmine Petters

Jasmine Petters

Jasmine hails from the city of Nizams, Hyderabad, and is currently pursuing her M.D. from there only. She is an internet wizard and has keen passion in All Things tech. She is a regular Comment contributor for The Daily Telescope and writes a Web column, in which she covers war, sports, and everything in between.
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