The Latest Pet Coke Industry Statistics Explained
As per 2020, petroleum coke market size surpassed USD 18.93 billion.
The statistic “As per 2020, petroleum coke market size surpassed USD 18.93 billion” highlights the significant monetary value of the petroleum coke market in the year 2020. This information indicates that the total revenue generated from the production and sale of petroleum coke exceeded $18.93 billion globally. The market size serves as a crucial metric for evaluating the economic impact and scale of the petroleum coke industry, illustrating its substantial presence and importance within the energy sector. This statistic suggests that petroleum coke continues to be a lucrative and influential commodity in the market as it continues to meet the demands of various industries.
It’s projected that the petroleum coke market will grow at a CAGR of 8.5% from 2021 to 2026.
This statistic indicates that the petroleum coke market is expected to experience steady growth over the period from 2021 to 2026, with a Compound Annual Growth Rate (CAGR) of 8.5%. The CAGR represents the average annual growth rate of the market over the specified time frame. A CAGR of 8.5% suggests a strong growth trajectory, potentially driven by factors such as increasing demand for petroleum coke in various industries, advancements in technology, and favorable market conditions. This projection can be used by industry stakeholders, investors, and policymakers to anticipate and plan for the growth of the petroleum coke market in the coming years.
Calcined coke segment dominated the petroleum coke market with a revenue of USD 10,413.8 Million in 2017.
The statistic indicates that the calcined coke segment held the largest share of the petroleum coke market in 2017, generating a revenue of USD 10,413.8 million. This suggests that calcined coke, which is a higher-value product derived from raw petroleum coke through a process of heating to remove volatile compounds, was the primary driver of revenue within the industry during that year. The dominance of the calcined coke segment signifies its significant contribution to the overall market size and highlights its importance in the petroleum coke sector.
Asia Pacific is anticipated to register the highest growth rate in the petroleum coke market from 2019 to 2026.
The statement indicates that the Asia Pacific region is projected to experience the highest increase in demand and consumption of petroleum coke between the years 2019 and 2026 compared to other regions globally. This growth rate suggests that there is a significant and increasing demand for petroleum coke in industries within the Asia Pacific region during this period. Factors driving this growth may include industrial development, increased energy needs, and economic expansion in countries within Asia Pacific. As a result, companies operating in the petroleum coke market may focus on expanding their operations or investment in this region to capitalize on the expected growth opportunities.
Indian Government has increased the import tax on pet coke from 2.5% to 5% in 2020.
The statistic indicates that the Indian Government has made a policy change in 2020 by increasing the import tax rate on petroleum coke (pet coke) from 2.5% to 5%. This implies that anyone importing pet coke into India will now have to pay a higher tax rate on the value of the imported goods. Such a decision by the government could have various implications on the industry, economy, and environment, affecting both domestic and international stakeholders involved in the pet coke trade. Changes in import tax rates can influence the competitiveness of imported products, domestic production, and overall market dynamics, which are important considerations for businesses and policymakers.
By 2025, the pet coke market in North America is expected to exceed $25bn.
The statistic indicates that the pet coke market in North America is projected to surpass a value of $25 billion by the year 2025. This suggests a significant growth trend in the market for petroleum coke, a byproduct of the oil refining process. The expected increase in market value points towards a rising demand for pet coke in various industries such as cement, power generation, and aluminum production. Factors driving this growth may include industrial expansion, infrastructure development, and regional economic trends. This projection serves as a key indicator for potential opportunities and investments within the pet coke industry in North America over the next few years.
The US exported 26.8 million tons of pet coke in 2012.
The statistic ‘The US exported 26.8 million tons of pet coke in 2012’ indicates the quantity of petroleum coke (pet coke) that was shipped out of the United States during that specific year. Pet coke is a carbonaceous solid derived from oil refining and is used as a fuel and in the production of aluminum and steel. The significant volume of 26.8 million tons highlights the role of the US as a major exporter of pet coke in the global market, a key input in various industrial processes. The statistic provides valuable insights into the scale of the pet coke industry in the US and its international trade relationships.
75% of pet coke produced globally is considered as fuel grade.
The statistic that 75% of pet coke produced globally is considered as fuel grade indicates that a majority of the petroleum coke produced across the world is used as a fuel source. This suggests that pet coke is primarily utilized for energy generation purposes, such as in power plants and industrial furnaces, rather than for other applications like manufacturing processes or as a raw material feedstock. The high proportion of fuel-grade pet coke production highlights the significance of this material in the energy sector and underscores its role as a key component in the fuel mix for various industries worldwide.
Indian Pet coke imports stood at 14.21 million tons in 2019.
The statistic ‘Indian Pet coke imports stood at 14.21 million tons in 2019’ indicates the total quantity of petroleum coke that was imported into India in the year 2019. Petroleum coke, commonly known as pet coke, is a carbonaceous solid derived from oil refinery coker units or other cracking processes. As a major energy source in various industries such as cement, power generation, and aluminum production, the substantial volume of pet coke imports reflects India’s reliance on this fuel for economic activities. This statistic is crucial for understanding the demand for pet coke in India, as well as for assessing the country’s energy consumption patterns and potential environmental impacts associated with pet coke usage.
Japan has reduced the imports of pet coke to 9.9 million tons in 2017 from 13 million tons in 2013.
The statistic indicates that Japan lowered its import of petroleum coke (pet coke) from 13 million tons in 2013 to 9.9 million tons in 2017. This reduction of approximately 24% over the four-year period signifies a notable shift in Japan’s pet coke consumption. The decision to decrease imports could be attributed to various factors, such as changing energy policies, environmental concerns, or shifts in market demand. This reduction in pet coke imports may have implications for Japan’s energy sector, environmental policies, and broader economic trends, reflecting the country’s efforts to adapt to evolving circumstances and priorities.
Imported pet coke consumed in India increased to 22.6 metric tons in 2019-20.
The statistic ‘Imported pet coke consumed in India increased to 22.6 metric tons in 2019-20’ indicates that the amount of petroleum coke (pet coke) imported into India and consumed during the fiscal year 2019-20 was 22.6 metric tons. This signifies a rise in the consumption of imported pet coke compared to previous years. Pet coke is used as a fuel in various industries, including cement manufacturing and power generation, due to its high heat content and relatively low cost. The increase in imported pet coke consumption may suggest a growing demand for this energy source in India’s industrial sector, possibly driven by factors such as economic growth and energy needs.
Spain is among the leading green pet coke producers in the world which produce around 3.5 million metric tons.
The statistic indicates that Spain is a significant global producer of green pet coke, with an annual output of approximately 3.5 million metric tons. Green pet coke, or petroleum coke, is a carbonaceous solid derived from the refining of crude oil. The production of such a large quantity of green pet coke positions Spain as a key player in the global market for this commodity. This statistic highlights Spain’s importance in the energy and petrochemical industries and suggests that the country likely plays a significant role in meeting the demand for green pet coke internationally.
Reliance, an Indian petroleum company, is one of the top pet coke producers with 23% of the market share.
The statistic indicates that Reliance, an Indian petroleum company, holds a significant portion of the market share in the production of petroleum coke (pet coke) in India. With a market share of 23%, Reliance is positioned as one of the leading producers of pet coke in the country, highlighting its strong presence and influence in the industry. This statistic suggests that Reliance plays a major role in the pet coke market, potentially impacting pricing, supply, and market dynamics within the sector.
Total global pet coke production in 2017 was 130 million metric tons.
The statistic that total global pet coke production in 2017 was 130 million metric tons indicates the total amount of petroleum coke produced worldwide in that particular year. Petroleum coke, or pet coke, is a carbonaceous solid derived from oil refinery coker units or other cracking processes. It is used primarily as a source of energy in various industrial applications such as cement production and power generation. This statistic serves as a key indicator of the scale of pet coke production activities worldwide and can provide insights into trends in the energy and industrial sectors, as well as environmental considerations due to the carbon emissions associated with pet coke usage.
In 2018, almost 75% of the pet coke produced in the United States was exported.
The statistic indicates that in 2018, a significant proportion of the pet coke produced in the United States was exported, with nearly 75% of the total production being sent to other countries. This suggests that the United States plays a major role in the global pet coke market as a significant supplier to international markets. The high export percentage also implies that there is strong demand for U.S.-produced pet coke from overseas buyers, possibly due to factors such as price competitiveness, quality, or specific industry requirements. This statistic highlights the importance of international trade in the pet coke industry and demonstrates the U.S.’s position as a key player in the global market.
Non-fuel-grade pet coke can be used to produce anodes and graphite.
The statistic that non-fuel-grade petroleum coke can be utilized in the production of anodes and graphite highlights an important application of this byproduct in the manufacturing sector. Anodes are essential components in various industries, including the production of aluminum and steel, where they serve as conductors of electric current for the electrolytic process. By repurposing non-fuel-grade pet coke for anodes and graphite production, companies can reduce waste and environmental impact while also benefiting from a cost-effective alternative material. This statistic underscores the versatility and potential value of non-fuel-grade pet coke in contributing to sustainable industrial practices and resource efficiency.
The Indian cement industry is one of the major consumers of pet coke, making up about 75% of the country’s consumption.
The statistic that the Indian cement industry is one of the major consumers of pet coke, accounting for approximately 75% of the country’s consumption, highlights the significant role that this industry plays in the overall pet coke market in India. Pet coke, a byproduct of the oil refining process, is commonly used as a fuel in cement production due to its high heating value and cost-effectiveness. The fact that the Indian cement industry accounts for such a large proportion of pet coke consumption underscores its reliance on this energy source for its operations. This statistic indicates the specific sectoral demand for pet coke in India and emphasizes the importance of the cement industry as a key driver of pet coke consumption within the country.
References
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