Apr 13, 2020 (Heraldkeepers) -- Market Research Future Published a Cooked Research Report on Petroleum Coke Market Research Report – Forecast to 2025
Petroleum Coke or petcoke is a solid composed primarily of carbon. It is the by-product of delayed coking or coking refineries and produced during the oil refinery process. It is available in 2 grades, high grade coke and lower grade pet coke. The Global Petroleum Coke Market Report by Market Research Future (MRFR) contains opportunities, drivers, and restraints with a microscopic analysis of production processes of petcoke for the period between 2018 to 2025 (forecast period).
Citgo Petroleum Corporation, Nayara Energy Ltd., Petrobras, Marathon Petroleum Corporation, Phillips 66 Company, Indian Oil Corporation Ltd., Valero Energy Corp., Motiva Enterprises LLC., Royal Dutch Shell PLC, and Exxon Mobil Corporation are major players of the Global Petroleum Coke Market.
The Global Petroleum Coke Market can exhibit a CAGR over 6% during the forecast period. It stood at USD 25 billion in 2018. It is projected to reach a valuation of USD 18,462.8 billion by 2025. It had accumulated a demand of over 102,656.6 thousand tons of petcoke in 2017.
The market is driven by its high demand across cement, petroleum refining, and power generation industries. Petcoke is preferred due to its high calorific value, low ash content, and cheap production value. High demand for alternative fuels in manufacturing and power sectors can drive its market demand over the forecast period. The growing cement industry in light of rapid industrialization is driving the need for Petcoke. It is used as a fuel as well as feedstock.
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High demand for aluminum due to rapid industrialization and investments towards improvements of refineries can bode well for the market. Growing demand by governments for petroleum products and adherence to government policies for reducing the carbon footprint are factors likely to influence the market growth.
But environmental concerns over the high carbon content of petcoke can impede the global petroleum coke market.
The Global Petroleum Coke Market is segmented by Application. Applications include foundries, paper and pulp, brick and glass, steel, cement, power plant, and others.
Cement is the largest application of the market with a share close to 48% in 2017. Rising cement production to support the expanding construction sector can drive the segment growth. Various infrastructural projects aimed at modernizing cities and towns are vital to driving the demand for petcoke in the coming years. It can exhibit a CAGR of 6.65% during the forecast period. The economic growth experienced by countries of Brazil, Mexico, China, and India can provide vast opportunities for the market.
Browse Key Industry Insights spread across 100 pages with 100 market data tables & 27 figures & charts from the report, "Petroleum Coke Market Information: By Application (Cement, Power Plant, Brick and Glass, Paper and Pulp,Foundaries) and Region - Growth Potential, Price Trends, Competitive Market Share & Forecast 2025" in detail along with the table of contents: https://www.marketresearchfuture.com/reports/petroleum-coke-market-6566
The power plant segment is expected to exhibit a stupendous CAGR over the forecast period owing to its ability to generate power without depending on fossil fuels. It was valued at USD 3,010 million in 2017 and touch USD 5,313.6 million by 2025.
Latin America, North America, Middle East & Africa (MEA), Asia Pacific (APAC), and Europe are major regions focused for the purpose of the Global Petroleum Coke Market Report.
APAC accounted for close to 56.3% market share in 2017 and may dominate over the forecast period. It can exhibit a CAGR of 6.12% during the forecast period owing to commercial activities in residential and commercial sectors and increasing inclination towards development of infrastructure. India and China are the biggest exporters of fuel-grade petroleum coke. Industrialization in India and need for rapid power generation in China can drive the regional market growth. Furthermore, the growth of power and cement sectors can augment the size of the Global Petroleum Coke Market by several degrees.
North America also holds a significant market share owing to the U.S. being one of the biggest exporters of petcoke.
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