Petroleum coke or petcoke is a final solid material that remains after oil refining and petrochemical processes. It is cost-effective and possesses higher calorific value that makes it suitable fuel for applications such as power plants and cement production. The rising consumption of petcoke in cement manufacturing is driving the global petroleum coke market. The cement industry utilizes petcoke as a cost-effective energy source to heat kilns during cement production. The increasing investments by cement manufacturers in capacity expansion across regions is augmenting the demand for petcoke.
The global petroleum coke (petcoke) market is estimated to be valued at US$ 32.66 billion in 2024 and is expected to exhibit a CAGR of 14%over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends: The key trend fueling the growth of the petcoke market is the increasing consumption in cement production. Cement manufacturers prefer petcoke over other fuels such as coal owing to its higher calorific value and cost effectiveness. As per estimates, around 35% of the cement industry's energy requirements are met by using petcoke. Further, the rising global cement demand on account of infrastructure development projects is encouraging cement producers to expand their production capacities. This is augmenting the consumption of petcoke to power kilns for cement manufacturing. Additionally, favorable government regulations promoting the use of petcoke in industrial applications compared to coal will further support the petcoke market growth over the forecast period.
Segment Analysis
The global petroleum coke (petcoke) market is segmented based on product type, application, and region. Based on product type, the anode-grade petcoke segment dominated the market in 2020 owing to its wide usage as fuel in aluminum, cement, and industries where a cheaper fuel is required for energy generation. An estimated 60-70% of total petcoke produced is processed into anode-grade coke that is used in the production of aluminum.
Key Takeaways
Global Petroleum Coke Market Size is expected to witness high growth during the forecast period of 2024 to 2031.
Regional analysis shows that Asia Pacific region currently dominates the market and is expected to continue its dominance during the forecast period due to the presence of large aluminum and steel industries in countries such as China and India.
Key players operating in the petroleum coke (petcoke) market are Alma Laser, Hologic, Inc. (Cynosure), Abbvie (Allergan), Solta Medical, Candela Medical, Merz Pharma GMBH, Revance Therapeutics Inc. The petrochemical industry in Asia Pacific has shown significant growth over the past few years owing to increasing demand from the industrial as well as construction sector. China dominates the regional market owing to the presence of huge refining capacities and increasing demand for petcoke from the aluminum industry.
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The latest trending report Global Petroleum Coke (Petcoke) Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 offered by DecisionDatabases.com is an informative study covering the market with detailed analysis.
The report will assist reader with better understanding and decision making.The Petroleum Coke (Petcoke) market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.This report also researches and evaluates the impact of Covid-19 outbreak on the Petroleum Coke (Petcoke) industry, involving potential opportunity and challenges, drivers and risks.
We present the impact assessment of Covid-19 effects on Petroleum Coke (Petcoke) and market growth forecast based on different scenario (optimistic, pessimistic, very optimistic, most likely etc.
).Final Report will cover the impact of COVID-19 on this industry.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/32544-petcoke-market-analysis-reportThe major players covered in Petroleum Coke (Petcoke) are:ShellMPCValero EnergyAminco ResourceConocoPhillipsExxonMobilAsbury CarbonsBy Type, Petroleum Coke (Petcoke) market has been segmented intoNeedle Coke TypeShot Coke TypeSponge Coke TypeHoneycomb Coke TypeOthersBy Application, Petroleum Coke (Petcoke) has been segmented into:PowerCementAluminumSteelOthersThe report offers in-depth assessment of the growth and other aspects of the Petroleum Coke (Petcoke) market in important countries (regions), including:North America (United States, Canada and Mexico)Europe (Germany, France, UK, Russia and Italy)Asia-Pacific (China, Japan, Korea, India and Southeast Asia)South America (Brazil, Argentina, etc.
)Middle East & Africa (Saudi Arabia, Egypt, Nigeria and South Africa)Download Free Sample Report of Global Petroleum Coke (Petcoke) Market @ https://www.decisiondatabases.com/contact/download-sample-32544The content of the study subjects, includes a total of 15 chapters:Chapter 1, to describe Petroleum Coke (Petcoke) product scope, market overview, market opportunities, market driving force and market risks.Chapter 2, to profile the top manufacturers of Petroleum Coke (Petcoke), with price, sales, revenue and global market share of Petroleum Coke (Petcoke) in 2018 and 2019.Chapter 3, the Petroleum Coke (Petcoke) competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.Chapter 4, the Petroleum Coke (Petcoke) breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2015 to 2020.Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2015 to 2020.Chapter 10 and 11, to segment the sales by type and application, with sales market share and growth rate by type, application, from 2015 to 2020.Chapter 12, Petroleum Coke (Petcoke) market forecast, by regions, type and application, with sales and revenue, from 2020 to 2025.Chapter 13, 14 and 15, to describe Petroleum Coke (Petcoke) sales channel, distributors, customers, research findings and conclusion, appendix and data source.Purchase the complete Global Petroleum Coke (Petcoke) Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-32544Other Reports by DecisionDatabases.com:Global Metallurgical Coke Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025Global Calcined Petroleum Coke Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025Global Foundry Coke Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
DecisionDatabases.com is proficient in providing syndicated research report, customized research reports, company profiles and industry databases across multiple domains.Our expert research analysts have been trained to map client’s research requirements to the correct research resource leading to a distinctive edge over its competitors.
The Global Petcoke (Petroleum Coke) Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.Petcoke (Petroleum Coke) is an organic compound having aromatic carbonaceous polycyclic hydrocarbon.
Conventionally, it is produced from coal.
It is produced by refining processed crude oil residue using coking process.
Petcoke is usually used as a source of energy or carbon for industrial applications.
It is infusible and insoluble porous solid that is majorly produced as fuel-grade petcoke.Report includes a detailed analysis on value chain in order to provide a holistic view of the petcoke (petroleum coke) market.
