Fuel-Grade Petcoke Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Global Fuel-Grade Petcoke Market: Overview
Petcoke (a common abbreviation for petroleum coke) has generated considerable interest among hydrocarbon producers and end-use industries as a carbon-rich fuel-producing material, thereby underpinning the steady evolution of the market. While the composition of petcoke varies, fuel-grade material is characterized by high heat and low ash content, making it especially suitable in power producing units. Fuel-grade coke is popularly increasing in application in cement kilns, blast furnaces, power plants, steel, brick, lime industries, and glass industries. Fuel-grade petcoke is extensively garnering demand in chemical, steel, cement, and power industries. Suppliers, world over, in the fuel-grade petcoke market are focused on offering a wide range of petcokes with consistent quality.
Global Fuel-Grade Petcoke Market: Notable Developments
Development initiatives for producing fuel-grade petcokes in recent years are influenced by the changing mix of feedstock fuel in the aluminum, steel, and titanium smelting industries. This has also impacted the dynamic in the hydrocarbon energy businesses with prominent manufacturers spearheading such initiatives. Following two developments underscore the changing dynamics:
Some of the prominent companies vying for the top spot in the global fuel-grade petcoke market are Suncor Energy, Repsol, Phillips 66, Oxbow, and Indian Oil Corporation.
Global Fuel-Grade Petcoke Market: Key Growth Dynamics
The rising demand for cost-effective solid substitute fuel is a key factor driving the global fuel-grade petcoke, especially in the cement and power sectors. These industries popularly use blast furnaces for manufacturing iron and steel.
Since fuel-grade petcoke is a byproduct in petroleum processing, the global market has been witnessing an increasing growth impetus from rising oil refining processes in various parts of the world. This rides on the back of the substantial demand for oil to be used as fuel in several countries.
The advent of blast furnaces using with technically improved designs is a notable trend expected to propel the rapid evolution of the global fuel-grade petcoke market. Such design advancements are notably motivated by concerns of the end-use industries for environmental concerns.
Global Fuel-Grade Petcoke Market: Regional Assessment
A number of developing regions and emerging economies, such as the Middle East and India, are expected to hold enormous potential in the global fuel-grade petcoke market. This in part is attributed to several ventures and agreements for expanding the production capacity of fuel-grade petcokes. Rapidly expanding power and cement productions in the Americas is expected to churn out substantial revenues to the global fuel-grade petcoke market.
The study presents reliable qualitative and quantitative insights into:
The regional analysis covers:
The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.
Highlights of the report:
Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.
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