Global Petroleum Coke Market Size to Exceed USD 55.90 Billion by 2035 | CAGR of 6.55%
Category: Advanced MaterialsGlobal Petroleum Coke Market Size to Exceed USD 55.90 Billion by 2035
According to a Research Report Published by Spherical Insights & Consulting, The Global Petroleum Coke Market Size is expected to Grow from USD 29.65 Billion in 2024 to USD 55.90 Billion by 2035, at a CAGR of 6.55% during the forecast period 2025-2035.
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Browse 210 Market Data Tables And 45 Figures Spread Through 190 Pages and In-Depth TOC On the "Global Petroleum Coke Market Size, Share, and COVID-19 Impact Analysis, By Type (Fuel Grade Coke and Calcined Coke), By Application (Aluminum, Cement, Power, Iron and Steel, Storage, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 – 2035." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/global-petroleum-coke-market
The production, trade, and consumption of petroleum coke, a solid by product rich in carbon produced during the refining of crude oil, are all included in the worldwide economic framework known as the petroleum coke market. Delayed coking and other thermal conversion techniques that upgrade heavy refinery wastes are used to make petroleum coke. The market comprises calcined petroleum coke, which is an essential raw material for the steel, chemical, and aluminum industries, and fuel-grade petroleum coke, which is mostly utilized as an industrial fuel in the production of cement and electricity. The growing demand from energy-intensive industries, including steel, aluminum, cement, and power generation, is driving the petroleum coke industry. Growing urbanization and infrastructure development encourage increased cement usage, which raises the demand for fuel-grade petcoke. The demand for calcined petroleum coke, which is utilized in the production of anodes, is driven by growth in aluminum production. The supply of petcoke rises as heavy crude oil refining capacity is increased, further bolstering market expansion. However, the market for petroleum coke is constrained by strict environmental laws, high carbon emissions, worries about air pollution, and growing demad for greener energy sources.
The fuel-grade coke segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the type, the petroleum coke market is divided into fuel-grade coke and calcined coke. Among these, the fuel-grade coke segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period. The usage of fuel-grade coke as a source of carbon and heat in cement kilns may increase due to the rising demand for cement brought on by the building industry's explosive growth.
The aluminum segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the application, the petroleum coke market is divided into aluminum, cement, power, iron and steel, storage, and others. Among these, the aluminum segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period. The consumption of petroleum coke in the manufacturing of aluminum is increasing due to the growing demand for aluminum from industries like automotive and aerospace because of its high strength and lightweight nature.
Asia Pacific is expected to hold the majority share of the global petroleum coke market during the forecast period.
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Asia Pacific is expected to hold the majority share of the global petroleum coke market during the forecast period. The demand for fuel-grade petroleum coke is still rising due to increased urbanization and government spending on building and transportation infrastructure, especially in cement kilns and power plants. A consistent supply of petroleum coke is further facilitated by the region's growing refining capability, particularly for heavy crude oil. The availability of reasonably priced labor and raw resources boosts industrial output and promotes market expansion.
North America is anticipated to grow at the fastest pace in the global petroleum coke market during the forecast period. The aluminum and steel industries' growing need for calcined petroleum coke, especially in the US, encourages market growth. Technological developments in the calcination and refining processes have also enhanced operating effectiveness and product quality. Because North America sells petroleum coke to developing nations for use in cement and power production, export demand is particularly crucial.
Major vendors in the global petroleum coke market are Aminco Resources LLC, British Petroleum, Chevron Corporation, Graphite India Limited, Indian Oil Corporation Ltd, Marathon Petroleum Corporation, Nippon Coke & Engineering Co., Ltd., Oxbow Corporation, Petroleum Coke Industries Company, Phillips 66 Company, Renelux Cyprus Ltd., Suncor Energy Inc., and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In July 2023, PDVSA signed two export agreements for up to 1.6 million tons of petroleum coke with Latif Petrol and Reussi Trading in an effort to address the rising demand for industrial fuel, increase sales, improve trade relations, and broaden worldwide distribution.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the petroleum coke market based on the below-mentioned segments:
Global Petroleum Coke Market, By Type
- Fuel Grade Coke
- Calcined Coke
Global Petroleum Coke Market, By Application
- Aluminum
- Cement
- Power
- Iron and Steel
- Storage
- Others
Global Petroleum Coke Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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