| | Petroleum Coke Industry to 2015 - Strong Demand Growth Driven by Increased Focus | | Increased Use of Heavy Oil in Refining Giving Impetus to Petroleum Coke Production Growth | | Posted on : NetForce Press (12 June, 2011) | | | |
The increasing demand for refined petroleum products and the high price differential between heavy and light crude oil has led to an increase in demand for heavy crude. The availability of crude is improving as production rates increase, particularly in North and South America. Global conventional oil reserves are expected to be around one trillion barrels in 2010, while heavy oil and bitumen resources are expected to be around five trillion barrels. More than 80% of these resources are located in Canada, the US and Venezuela.
The growing oil sands production and the declining production of conventional light sweet crudes has
resulted in refineries making the investments required to process the increasing supply of heavier crude.
The percentage yield of petroleum coke from heavy crude oil is more than that from light crude oil.
Therefore, the production of petroleum coke has been boosted by the increased use of heavy crude oil. In 2000, the global production of petroleum coke was 80.815 MMTPA, which increased to 123.058 MMTPA in 2010 at a CAGR of 4.29%. In 2015, the production is expected to grow to 161.271 MMTPA at a CAGR of 5.56%.
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Feedstock selection in the industry is directly related to its availability. The increased production of
petroleum coke has made it a good substitute to traditional fuels such as coal. Petroleum coke is used
both as an energy source and as a carbon source. Fuel grade petroleum coke is primarily used as an
energy source in the cement and power industry, while calcined grade petroleum coke is used as a
carbon source in the calcining and iron and steel industries. The demand for petroleum coke was 68.98
MMTPA in 2000, which increased to 103.663 MMTPA in 2010 at a CAGR of 4.16%. In 2015, the demand
is expected to grow to 164.473 MMTPA at a CAGR of 9.67%.
GlobalData, the industry analysis specialist, has released its latest research, “Petroleum Coke Industry
to 2015 - Strong Demand Growth Driven by Increased Focus on Fuel Diversification”. The study,
which is an offering from the company’s Petrochemical Research Group, provides in-depth analysis of the global petroleum coke industry, with production forecasts and key trends to 2015. The study provides detailed analysis and forecasts of industry trends affecting the top fuel grade petroleum coke producing countries in the world. The report includes historic data and future forecasts of fuel grade petroleum coke production and demand in the major petroleum coke producing countries. It analyses the global pricing scenario, and gives pricing forecasts for major fuel grade petroleum coke producing countries. The report presents a comprehensive analysis of the global petroleum coke market, covering all the major parameters. The report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s research team of industry experts.
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| Author Contact Information | Rajesh Gunnam
GlobalData
Marketing Executive
London
United Kingdom -
Phone: +914066166782
Email: Click here to send email
Website: www.globaldata.com
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