Nearly 4 Out of 5 Petroleum Coke Sales to be Concentrated in Power & Cement Kiln Industries
Fact.MR's recent analysis on the petroleum coke market provides a comprehensive outlook of opportunities, latest trends, challenges and growth drivers prevailing in the industry. Further, it delves deeper into the growth prospects across various market segments in terms of grade, application and end user across six regions.
NEW YORK, June 27, 2022 /PRNewswire/ -- The petroleum coke market is poised to expand at a CAGR of 9.6% over the forecast period of 2022 and 2032. Increasing application of petroleum coke in energy production and construction industries is expected to propel the growth in petroleum coke market during the forecast period.
As per the report, the sales of petroleum coke are likely to reach US$ 25.27 Bn in 2022 and US$ 63.10 Bn by the end of 2032. Widespread usage of petroleum coke in several industries such as construction, transportation, and automotive is expected to create tailwinds for the market.
With rapid urbanization across the globe, infrastructural development activities has surged, especially in developed countries. This is expected to improve the growth in global petroleum coke market. As petroleum coke is a cost - efficient alternative fuel, as per Fact.MR, it is another factor bolstering the sales in the market.
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Apart from this, growing usage of fuel grade petroleum coke in power plants and cement kilns will boost the demand in the market. According to the study, fuel grade petroleum coke contributed more than 80% of global petroleum coke production. Subsequently, extensive use of graphite petroleum coke in steel and metallurgy sectors is likely to propel market growth.
Key takeaways:
Growth Drivers:
Restraints:
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Competitive Landscape:
Key players operating in the petroleum coke market are seeking to expand their production capacity to meet demand and increase their revenue. Some of the key players are focusing on product development and mergers to strengthen their footprint in the industry.
For instance,
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More Valuable Insights on Petroleum Coke Market
In its latest study, Fact.MR highlights crucial factors steering growth in the global petroleum coke market for the forecast period of 2022 to 2032. The study also provides key insights into drivers that are expected to create growth prospects in the petroleum coke market through detailed segmentation as follows:
By Grade:
By Application:
By Region:
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Key Questions Covered in the Petroleum Coke Market Report
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