DUBLIN–(BUSINESS WIRE)–The “Petroleum Coke Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F” report has been added to ResearchAndMarkets.com’s offering.
The Global Petroleum Coke Market was valued at USD 22.39 Billion in 2022 and is growing at a CAGR of 3.9% during 2023-2028
The ongoing process of industrialization and infrastructure development, particularly in emerging economies, is a significant driver for the petroleum coke market. Industries such as cement and metal manufacturing, which heavily rely on energy-intensive processes, find petroleum coke to be a cost-efficient fuel.
As nations invest in building infrastructure and urbanizing, the demand for construction materials and, consequently, for petroleum coke in cement production, experiences a substantial uptick. The petroleum coke market is closely tied to the refining of crude oil. The expansion of oil refining capacity globally contributes to an increased supply of petroleum coke.
As refining processes become more sophisticated, the production of petroleum coke as a byproduct rises. Refineries, aiming to maximize their yield from crude oil, contribute to the availability of petroleum coke in the market. This expansion in refining capacity is often seen in response to growing energy needs and increasing demand for refined petroleum products.
Drivers:
- Cost-Effectiveness and Energy Efficiency
- Favored for cost-effectiveness and higher calorific value
- Steel Production and Metal Industry
- Used as a reducing agent in steel production
- Emerging Market Demand
- Driven by industrialization and urbanization
- Cement Production
- Used as a cost-effective fuel in the cement industry
- Availability of Feedstock
- Regions with abundant reserves of heavy crude oil
- Diverse Applications
- Versatility in various industrial applications
- Global Trade and Transportation Infrastructure
- Essential for seamless flow of petroleum coke
Challenges:
- Environmental Concerns
- Impact on air quality and health
- Regulatory Compliance
- Meeting evolving environmental regulations
- Fluctuating Crude Oil Prices
- Influenced by crude oil price volatility
- Shift towards Renewable Energy
- Challenge to traditional energy sources
- Technological Advances and Energy Transition
- Shift toward cleaner energy alternatives
- Geopolitical Instabilities
- Impact on supply chain
- Technological Constraints in Carbon Capture
- Complicated by high carbon content
- Infrastructure Limitations
- Logistical challenges in emerging markets
Key Trends:
- High-Speed Data Transmission
- Growing demand for high-speed data transmission
- Renewable Energy Projects
- Role in connecting renewable energy facilities
- Advancements in Cable Technology
- Enhancements in durability, flexibility, and resistance
- Smart Cities and IoT Infrastructure
- Support for smart city technologies and IoT
- Focus on Safety and Reliability
- Preference for critical installations
- Surge in Construction and Infrastructure Projects
- Driven by construction industry growth
- Integration in Harsh Environments
- Applications in challenging settings
- Customization and Product Differentiation
- Tailored solutions for specific industry needs
- Global Emphasis on Cybersecurity
- Contribution to data security
- Shift towards Lightweight and Flexible Designs
- Trend toward flexibility
- Sustainable Practices and Eco-Friendly Materials
- Exploration of eco-friendly materials
- Cross-Industry Collaboration
- Partnerships for comprehensive solutions
- Demand for Armored Fiber Optic Cables
- Growing demand, especially in telecommunications
Segmental Insights:
- Aluminum and other metals dominated the global petroleum coke market in 2020.
Country Insights:
- Asia Pacific expected to account for the largest market share, driven by rapid urbanization, energy needs, and construction investments.
- North America predicted to grow and lead the market.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Petroleum Coke Market.
- Indian Oil Corporation Ltd
- Nayara Energy Ltd- India
- Petrobras
- Royal Dutch Shell PLC
- Exxon Mobil Corporation
- Citgo Petroleum Corporation
- Marathon Petroleum Corporation
- Valero Energy Corp.
- Motiva Enterprises LLC.
- Phillips 66 Company – USA
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 182 |
| Forecast Period | 2023 – 2028 |
| Estimated Market Value (USD) in 2023 | $22.39 Billion |
| Forecasted Market Value (USD) by 2028 | $28.42 Billion |
| Compound Annual Growth Rate | 3.9% |
| Regions Covered | Global |
Report Scope:
Global Petroleum Coke Market, By Type:
- Fuel Grade
- Calcined Coke
Global Petroleum Coke Market, By Application:
- Aluminum & Other Metals
- Cement
- Storag
- Steel
- Power
- Others
Global Smart Waste Management Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Europe
- Germany
- United Kingdom
- France
- Russia
- Spain
- South America
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- South Africa
- Egypt
- UAE
- Israel
For more information about this report visit https://www.researchandmarkets.com/r/kbke1n
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