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Fuel Grade Petcoke Market Trends

  • Report ID: GMI6582
  • Published Date: Aug 2023
  • Report Format: PDF

Fuel Grade Petcoke Market Trends

Fuel grade petcoke has experienced a growing demand globally, primarily impelled by its use as a fuel source in various sectors. Industries such as power generation, cement production, and steel manufacturing rely on fuel grade petcoke due to its high calorific value and relatively low cost compared to other fuels. The increasing energy needs of emerging economies, along with ongoing industrialization and urbanization, have contributed to the rising product demand. Stricter environmental regulations and a growing focus on reducing emissions have led to a notable shift towards fuel grade petcoke market.
 

The ongoing research and development efforts directed toward finding alternative uses and technologies including exploring ways to convert petcoke into value-added products or utilize it in more environmentally friendly processes will proliferate the industry growth. Moreover, initiatives focusing on petcoke gasification, to convert it into syngas for power generation or chemical production, utilization across carbon capture and storage (CCS) processes to reduce greenhouse gas emissions have also provided significant opportunity to the fuel grade petcoke market players.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of fuel grade petcoke was surpassed USD 13.6 billion in 2023 and is set to record over 5.6% CAGR from 2024 to 2032, due to increasing usage as fuel source across various industrial processes.

The aluminum fuel grade petcoke application is expected to witness over 5.3% CAGR from 2023-2032 owing to the shift toward the use of recyclable material and expansion in end-user markets.

North America fuel grade petcoke industry size is projected to observe about 2.6% growth rate through 2032, on account of the increasing industrial activities, energy needs, and the high availability of petcoke as a byproduct of the refining process.

BP p.l.c., Saudi Arabian Oil Company (Saudi Aramco), Exxon Mobil Corporation, Shell Plc, Reliance Industries Limited, Chevron Corporation, Valero, Indian Oil Corporation Ltd, Marathon Petroleum Corporation, and Oxbow Corporation are few fuel grade petcoke companies.

Fuel Grade Petcoke Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 503
  • Countries covered: 22
  • Pages: 380
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