Petcoke Market Forecast and Opportunity Assessment till 2026

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Detroit, Michigan, Feb 07th 2022. Stratview Research has launched a new report, titled Petcoke Market segmented by Grade Type (Fuel Grade and Calcined Grade), by Physical Form Type (Sponge Coke, Purge Coke, Shot Coke, and Needle Coke), by Application Type (Power Plants, Cement Industry, Steel Industry, Aluminum Industry, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)

Covid-19 Impact Analysis:

Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.

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According to the report, Petcoke Market is likely to witness a CAGR of 7.8% during the forecast period. One of the key factors driving market growth is rapid industrialization, especially in the developing economies. Another significant growth-inducing factor is the increased emphasis on reducing dependence on fossil fuels for energy generation. In addition, significant developments in infrastructure around the globe have a positive market outlook. Further, the rise in the disposable income of consumers along with growing road safety concerns related to passenger and commercial vehicle is expected to fuel the growth of the market during the forecast period.

Market Segments’ Analysis:

Petcoke Market Share: By Grade Type

Based on the grade type, the market is segmented as fuel grade and calcined grade. Calcined petroleum coke is expected to lead the market during the forecast period. The growth of the segment can be attributed to its low emission properties and high investments made in the development of primary metal manufacturing industry. Increased use of calcinated petcoke and its growing demand for steel mills as a recarburizing agent will increase the industry prospects. Furthermore, changing trends towards coke’s use in furs & boilers as a substitute for coal will have a positive impact on the timeline for its adoption.

Petcoke Market Share: By Physical Form Type

Based on the physical form type, the market is segmented as sponge coke, purge coke, shot coke, and needle coke. The market for needle petcoke is estimated to grow by more than 10% during the forecast period. The growing demand for steel and aluminium will foster the product demand, driven by the growing construction, automobiles and transportation sectors. In addition, rapid marketing and industrialization will further enhance industrial growth in the coming years, primarily in the developing economies.

Petcoke Market Share: By Region

In terms of regions, the petcoke industry was estimated at more than 2 billion in North America in 2016, and is all set to grow significantly over the forecast period. Business growth is majorly driven by positive perspectives for the expansion of the primary metal industry and continuous investments made in refinery expansion. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

Petcoke-Market-By-Region

Key Players:

The following are the key players in the Petcoke Market:

  • BP
  • Cocan Graphite Trammo
  • ExxonMobil
  • Marathon Petroleum
  • Reliance
  • Atha Group
  • Saudi Aramco
  • Rain CII
  • Essar Oil
  • Oxbow Corporation.

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Frequently Asked Questions –

This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:

  • What is the current and future market size of Petcoke Market?
  • How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
  • What will be the short and long-term effects of the pandemic?
  • How are other market factors affecting the market dynamics?
  • Which segments offer high-growth opportunities in the long run?
  • How fierce is the Petcoke Market competition?
  • What are the key emerging trends and unmet needs in the present market?
  • What are the strategic growth opportunities and key success factors?

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