The global petcoke gasification market is anticipated to grow at a significant CAGR of 15.6% during the forecast period (2022-2028). Gasification is a process in which carbonaceous materials are converted into useful fuel and power. Apart from this, this technology is quite useful in industries. Biomass gasification is a useful area but some challenges in this regard include low calorific value and high moisture content. Petcoke is produced from a lot of refineries and they are put to different purposes. Petcoke has high carbon content and the end product which is obtained is syngas. Syngas is a mix of hydrogen and carbon monoxide. Syngas can be used in the generation of electricity and the production of liquid fuels.
Coal and pet coke both are used in the yield of hydrogen which is further made to be used in refineries. The coal gasification project which is based in china is one of the largest projects in this category and is named as Lu’an coal to chemicals project. One more project in this category is the Jazan refinery in Saudi Arabia. They have more than a dozen gasifiers in their facility.
Petcoke gasification proving an alternative to usual energy sources is expected to drive the market during the forecast period. For instance, in Feb 2022, Dastur Energy Pvt. Ltd. has announced an agreement with Gas Technology Institute to develop solutions for low-cost energy systems in India. Gasification-based solutions will be their top priority to lower costs and minimize impacts.
Some major players in the market include AIR LIQUIDE, General Electric, Shell group of companies, and Siemens Aktiengesellschaft. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in Nov 2021, Reliance Industries have started their plant in Jamnagar Gujrat which is a gasification project. This is done to grow in hydrogen space. This project is set up to produce syngas.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By End-User
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- AIR LIQUIDE, General Electric, Shell group of companies, and Siemens Aktiengesellschaft.
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Global Petcoke Gasification Market Report By Segment
By Type
- Fuel grade petcoke
- calcined petcoke
By End-User
- Power Industry
- Steel industry
- Others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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