Industrial Minerals / Petroleum Coke: Global Industry Markets & Outlook, 6th Edition 2012
- 1. Summary
- 2. Introduction
- 3. Overview of world petroleum coke production
- 4. Notes on countries producing and consuming petroleum coke
- 5. Overview of world consumption of petroleum coke
- 6. End uses for petroleum coke
- 7. International trade in petroleum coke
- 8. Petroleum coke prices
Petroleum Coke: Global Industry Markets & Outlook, 6th Edition 2012
World consumption of petroleum coke is growing as new coking capacity comes on stream and the quality of oil processed is declining. In 2011, the USA is still the world’s largest producer of petroleum coke, but production in Asia, particularly China and India, is growing. By 2016 Roskill forecasts that these two countries could account for one third of global supply which is expected to reach 170Mt. Since the economic crisis in 2009, China has emerged as a significant producer of petroleum coke with production of 24Mt in 2011.
In terms of trade, over the last three to four years, Asian buyers have taken advantage of competitive freight rates and lower petroleum coke prices to use petroleum coke as a cheaper source of fuel than coal. Prior to this, US and Venezuelan petroleum coke was mainly shipped to cement companies in the Atlantic Basin.
Petroleum coke consumption levels are expected to rise in line with production, as oil refiners are committed to finding their by-product a market. Petroleum coke is one of several low value solid by-products of the oil refining market and this is reflected in its pricing.
The total global market for petroleum coke is relatively small in size, but it is valued at US$5-6Bn. It is caught between the demands of five other industries – oil refining, electricity generation, cement, steel, and aluminium.
Fuel grade high sulphur petroleum coke is the largest market, estimated at over 75Mtpy. This sector alone is forecast to grow by 4%pa between 2011 and 2016. The highest growth rates will be seen for anode grade coke used in aluminium and other smelters at 6%py. Overall, demand for petroleum coke is forecast to increase by 4%py until 2016.
Asia: Average value of imports of non calcined petroleum coke, 2000 to 2011
Get accurate answers from independent exports
- Where are existing producers located and where will the new coking capacity be?
- What factors are affecting international petroleum coke trade?
- Will the new coking capacity address anode grade shortages?
- What changes might affect the business environment for oil refiners between 2011 & 2016?