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Petcoke Market Trends

Report ID: GMI1186
Published Date: Jul 2024
Report Format: PDF

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Petcoke Market Trends

The increasing demand for petcoke as a low-priced fuel for refinery operations, particularly in the regions including Middle East & Africa & Asia Pacific along with its robust use in steel plants, is set to amplify product demand. Currently, petcoke has become the preferred raw material for steel manufacturers and is extensively used in electrode production within the industry. Additionally, the imposition of stringent emission norms related to coal usage in power generation and other manufacturing sectors will further drive market growth. The industry has experienced a shift in recent years due to changing energy policies and environmental concerns.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of petcoke was reached USD 21.9 billion in 2023 and will grow at 5.7% CAGR from 2024 to 2032, due to its increasing use as a fuel source in various industrial processes.

The fuel grade segment in the petcoke market is anticipated to surpass USD 22 billion by 2032, driven by its use as a fuel source in cement production, power generation, and steel manufacturing.

North America petcoke market is anticipated to exceed over USD 10.5 billion by 2032 attributed to its cost-effective and high-energy fuel source in various industrial sectors.

Aminco Resources, BP, Chevron Corporation, cocangraphite, Exxon Mobil, HF Sinclair Corporation, Husky Energy, Marathon Petroleum Corporation, Oxbow Corporation, and Phillips 66 Company among others.