Pet coke or petroleum coke is a by-product of crude oil refining and other petroleum cracking processes. Crude oil by-products such as diesel, lubricants, and waxes among others are processed in cokers and other cracking processes to produce pet coke. Pet coke is produced in different grades depending upon the operation temperature, coking time, and the efficiency of the material used. The different types of petroleum coke are catalyst coke, needle coke, sponge coke, purge coke, and shot coke. The different types mentioned are distinguished by their Volatile organic content (VOC) and their psychical properties. Properties such as high calorific value make pet coke ideal for use as power generation source in various industries. Petroleum coke is also used in the anodes while manufacturing metals. The niche applications of petroleum coke include the production of titanium dioxide, production of ammonium nitrate & urea, and as a feed stock for coke oven batteries.
Among the various product segments in pet coke market, the fuel grade is the leading segment of the market and is anticipated to continue its dominance over the forecast period. The growing consumption of the product in power plants and steel & cement industries account for the growth of the segment.
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Key Players and Competition Analysis
Some of the prominent players operating in the global pet coke market are Chevron Corporation (U.S.), British Petroleum (London), Essar Oil Ltd. (India), Hindustan Petroleum Corporation Limited (India), Exxon Mobil Corporation (U.S.), Indian Oil Corporation Limited (India), Royal Dutch Shell Plc (Netherland), Reliance Industries Limited (India), Saudi Arabia Oil Company (Saudi Arabia), Valero Energy Corporation (U.S.) and Conoco Philips (U.S.).
Segmentation Analysis
The global pet coke market is segmented into product type and end-user. On the basis of the product type, the market is segregated into needle coke, sponge coke, catalyst coke, shot coke, purge coke. On the basis of the grade, the market is classified as fuel grade, calcined grade. The market by application industry is further categorized into power plants, cement industry, steel industry, aluminum industry, and others. Browse the market data and information spread across 139 pages with 48 data tables and 13 figures of the report “Pet Coke Market Analysis News and Demand Forecast to 2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/pet-coke-market-5349

Regional Analysis
The pet coke market is segmented into five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be the fastest growing region with an encouraging CAGR. Growing urbanization and globalization in the region has substantially added to the growth of the market in this region. India and China are the major contributors to the growth of the market in the Asia-Pacific region. Moreover, the presence of the most populated economies has augmented the need for energy in the region which in turn has fuelled the demand for petroleum coke owing to its application in power generation. In addition to this, the demand from the oil and gas industry mainly in China and India is another factor positively affecting the market growth. The growing government investment in the construction sector has augmented the cement industry which in turn is adding to the growth of the pet coke market.
The European region is a lucrative market and is mainly driven by a well-developed power generation and industrial sector. Moreover, the growing stringent EU regulations regarding the emission of greenhouse gases will further add to the growth of the pet coke market. In addition to this, the growing preference of petroleum coke over coal is also a dominant factor for the market growth.
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