Americas Petcoke Market, By Grade (Fuel Grade, Calcined Petcoke), By Physical Form (Sponge Coke, Purge Coke, Shot Coke, Needle Coke), By Application, Growth Forecast, 2024 – 2032

Americas Petcoke Market Size

Americas Petcoke Market has valued at USD 9.6 billion in 2023 and will rise with CAGR of 2.6% between 2024 to 2032. Increasing economic growth along with rising infrastructure development in emerging markets including Brazil, Chile, Mexico, among others will contribute to the product utilization. Shifting focus towards adoption of fuel-grade petcoke coupled with stricter emission standards particularly in the U.S. & Canada will increase the product usage in end use industries over the forecast period.
 

Technological advancements in refining processes are enhancing petcoke quality and efficiency, further driving its adoption across various industrial applications. For instance, in June 2022, Texas A&M University and ExxonMobil are innovating a process to repurpose petroleum coke into graphene using electrochemical exfoliation. Graphene, a nanomaterial, holds promise across various fields such as electronics, medicine, and energy storage. These innovations are contributing to the growth of market.
 

Americas Petcoke Market Trends

Americas petcoke industry is witnessing a shift towards higher-grade petcoke with lower sulfur content, driven by stringent environmental regulations along with increasing focus on sustainability is resulting various companies to invest in technologies to reduce emissions during petcoke production and utilization. Furthermore, major players are forming strategic partnerships to enhance distribution efficiency and reliability.
 

For instance, in January 2020, ExxonMobil Catalysts and Licensing LLC partnered with Axens in a licensing alliance, granting Axens global rights to market and provide engineering support for FLEXICOKIN technology, which aims to offer resid conversion solutions that enhance liquid yields and minimize pet-coke production, meeting customer needs efficiently.
 

Americas Petcoke Market Analysis

Based on grade, the market is segmented into fuel grade and calcined petcoke, in which fuel grade is expected to surpass over USD 7 billion by 2032, propelled by its cost-effectiveness and high calorific value. Additionally, abundant availability as byproduct of extensive oil refining activities, further supports its dominance. Industries including cement and power generation, require substantial and consistent energy sources, favor fuel grade petcoke for its ability to provide efficient and reliable energy at lower costs. This segment's dominance is also bolstered by market players who ensure a steady supply through robust production and distribution networks.
 

Application segment is influenced by aluminum industry that is forecast to grow at over 2% CAGR through 2032, due to its substantial requirement for calcined petcoke, a critical raw material in aluminum smelting. Calcined petcoke's high carbon content and low impurities make it ideal for producing anodes used in the electrolytic process of aluminum production. Furthermore, the sector's growth, driven by rising demand from automotive, construction, and packaging industries, fuels the increased consumption of petcoke. Market players cater to this demand by maintaining robust supply chains and investing in refining technologies, reinforcing industry's leading position in the market.
 

U.S. market is projected to surpass USD 10 billion by 2032, surged by its extensive oil refining capacity, which produces large quantities of petcoke as a byproduct. The country's advanced refining technologies enable production of both fuel-grade and calcined petcoke, meeting diverse industrial demands. Moreover, strong demand from different sectors, backed by favourable economic conditions and regulatory support, bolsters this dominance. For instance, in April 2023, Valero Energy Corp has commenced operations of a new 55,000-barrel-per-day (bpd) coker at its Port Arthur, Texas refinery, after completing maintenance on the 115,000-bpd AVU-147 crude distillation unit (CDU).
 

Brazil is also witnessing a signification market growth owing to its robust oil refining industry and extensive petcoke production capacity. The country's growing demand for petcoke in industries like cement, steel, and power generation, coupled with its strategic geographic location, solidifies its market dominance in the overall petcoke market.
 

Americas Petcoke Market Share

Americas petcoke industry caters companies like Chevron Corporation, Exxon Mobil, Phillips 66 Company, BP and Shell plc holds the largest market share. Their dominance stems from its extensive refining operations and production capacity, enabling it to supply substantial volumes of petroleum coke. Companies’ strong distribution network and long-term contracts with key industries further consolidate their leading position in the region's petcoke market.
 

Americas Petcoke Market Companies

Some of the key market players operating across the Americas petcoke industry are:

• AMINCO RESOURCES LLC.
• ASPO Energy Ltd.
• Bharat Petroleum Corporation Limited
• BP p.l.c
• Cenovus Inc
• Chevron Corporation
• CITGO Petroleum Corporation
• Cocan graphite
• Exxon Mobil Corporation
• HF Sinclair Corpration
• Indian Oil Corporation Ltd
• Marathon Petroleum Corporation
• Motiva Enterprises LLC
• Oxbow Corporation
• Petrobras
• Phillips 66 Company
• Reliance Industries Limited
• Saudi Arabian Oil Company (Saudi Aramco)
• Shamokin Carbons
• Shell Plc
• Suncor Energy Inc.
• Valero
• Wcopetrol S.A.
   

Americas Petcoke Industry News

• In August 2023, ExxonMobil revealed plans to revamp its Beaumont, Texas refinery, the second largest in its portfolio, with a capacity of 619,024 barrels per day. The refinery's coker will be upgraded to convert residual crude oil into either feedstock for motor fuel or petroleum coke, offering a potential alternative to coal.
   
• In May 2023, Chevron U.S.A. Inc. and Lummus Technology entered into an partnership with TAQAT Development Company. Under this agreement, Chevron has been contracted to construct a new 75,000 tons per annum (TPA) needle coke complex in Rabigh. The company will provide pilot plant testing, licensing, basic design, and additional engineering operations support.
   

Americas petcoke market research report includes an in–depth coverage of the industry with estimates & forecast in terms of revenue in ‘USD Million’ and volume ‘MT’ from 2021 to 2032, for the following segments:

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Market, By Grade

• Fuel Grade
• Calcined Petcoke

Market, By Physical Form

• Sponge Coke
• Purge Coke
• Shot Coke
• Needle Coke

Market, By Application

• Power Plants
• Cement Industry
• Steel Industry
• Aluminium Industry
• Others

The above information has been provided for the following countries:

• Americas
  • U.S.
  • Canada
  • Brazil
  • Argentina
  • Chile
  • Mexico