Research Reports
Petroleum Coke (Petcoke) Market Future Prospect 2027
Petroleum Coke (Petcoke) Market Future Prospect 2027
Published by Coherent Market Insights
Posted on September 15, 2021
Global Banking and Finance Review
Company
Published by Coherent Market Insights
Posted on September 15, 2021
Petroleum coke is a by-product of crude oil and is look like solid rock materials. Petroleum coke is basically used across various industries as an energy source. Power generation is key end-user of the petcoke and other prominent users of petroleum coke are metal, construction, aluminum, blast furnace, and steel industry.
The global petroleum coke (petcoke) market is projected to reach around US$ 42,779.8 million by the end of 2027, in terms of revenue, growing at CAGR of 8.5% during the forecast period (2020-2027).
Get a Sample Copy + All Related Graphs & Charts: https://www.coherentmarketinsights.com/insight/request-sample/4031
Drivers:
Growing demand from cement and power generation industry is primarily fueling the market growth of the petroleum coke. Fuel grade petcoke is widely used in the cement and power generation industry. The expanding cement and power generation industry across developing economies such as China and India is also contributing to the market growth of petroleum coke. Moreover, increasing export of the petroleum coke is again propelling the market growth.
Market Opportunities
Growth in infrastructure development across the Asia Pacific region is projected to bring new market opportunities in the near future. According to the report by PwC, the Asia Pacific infrastructure market is expected to grow 7 – 8% percent a year over the next decade, reaching US$5.36 trillion a year by 2025 representing 60% of the world total. Thus, growth in the construction industry in Asia Pacific region is expected to propel the market growth of petcoke.
Increasing investment by major players in enhancing the production capacity of crude oil is expected to offer lucrative opportunities. For instance, in January 2019, ExxonMobil announced that that it will increase crude refining capacity by more than 65 percent, or 250,000 barrels per day. Thus, the growing production of crude oil is expected to foster the market growth of the petcoke over the forecast period.
Hurry Up…and Get a 2000$ Discount On a Price…!!! : https://www.coherentmarketinsights.com/insight/request-discount/4031
Global Petroleum Coke (petcoke) Market – Impact of Coronavirus (Covid-19) Pandemic
Several refineries have reduced supply of petroleum coke due to refinery production cuts, falling consumption of gasoline and jet fuel amid the coronavirus pandemic. The prices of petroleum coke has fallen due to low crude oil prices. End-use industries can benefit from low petroleum coke prices and help to increase the profit margins of these companies. In March 2020, the Chinese Ministry of Finance offered tariff exemptions on U.S. petcoke imports as impact of COVID-19 affected domestic petcoke production in the country. According to Coherent Market Insights, petroleum coke market is expected to grow at a lower CAGR between 2020 and 2021.
Competitive Section:
Company Names
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post Petroleum Coke (Petcoke) Market Future Prospect 2027 appeared first on Gatorledger.
Petroleum coke is a by-product of crude oil and is look like solid rock materials. Petroleum coke is basically used across various industries as an energy source. Power generation is key end-user of the petcoke and other prominent users of petroleum coke are metal, construction, aluminum, blast furnace, and steel industry.
The global petroleum coke (petcoke) market is projected to reach around US$ 42,779.8 million by the end of 2027, in terms of revenue, growing at CAGR of 8.5% during the forecast period (2020-2027).
Get a Sample Copy + All Related Graphs & Charts: https://www.coherentmarketinsights.com/insight/request-sample/4031
Drivers:
Growing demand from cement and power generation industry is primarily fueling the market growth of the petroleum coke. Fuel grade petcoke is widely used in the cement and power generation industry. The expanding cement and power generation industry across developing economies such as China and India is also contributing to the market growth of petroleum coke. Moreover, increasing export of the petroleum coke is again propelling the market growth.
Market Opportunities
Growth in infrastructure development across the Asia Pacific region is projected to bring new market opportunities in the near future. According to the report by PwC, the Asia Pacific infrastructure market is expected to grow 7 – 8% percent a year over the next decade, reaching US$5.36 trillion a year by 2025 representing 60% of the world total. Thus, growth in the construction industry in Asia Pacific region is expected to propel the market growth of petcoke.
Increasing investment by major players in enhancing the production capacity of crude oil is expected to offer lucrative opportunities. For instance, in January 2019, ExxonMobil announced that that it will increase crude refining capacity by more than 65 percent, or 250,000 barrels per day. Thus, the growing production of crude oil is expected to foster the market growth of the petcoke over the forecast period.
Hurry Up…and Get a 2000$ Discount On a Price…!!! : https://www.coherentmarketinsights.com/insight/request-discount/4031
Global Petroleum Coke (petcoke) Market – Impact of Coronavirus (Covid-19) Pandemic
Several refineries have reduced supply of petroleum coke due to refinery production cuts, falling consumption of gasoline and jet fuel amid the coronavirus pandemic. The prices of petroleum coke has fallen due to low crude oil prices. End-use industries can benefit from low petroleum coke prices and help to increase the profit margins of these companies. In March 2020, the Chinese Ministry of Finance offered tariff exemptions on U.S. petcoke imports as impact of COVID-19 affected domestic petcoke production in the country. According to Coherent Market Insights, petroleum coke market is expected to grow at a lower CAGR between 2020 and 2021.
Competitive Section:
Company Names
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post Petroleum Coke (Petcoke) Market Future Prospect 2027 appeared first on Gatorledger.
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