Petroleum Coke (Fuel-Grade) Market Segment by Applications, Manufacturers, Regions and Forecast to 2025

PUNE, INDIA, October 22, 2019 /EINPresswire.com/ —

WiseGuyReports.Com Publish a New Market Research Report On –“ Petroleum Coke (Fuel-Grade) Market Segment by Applications, Manufacturers, Regions and Forecast to 2025”.

Petroleum Coke (Fuel-Grade) Market 2019

Description: –

The global petroleum coke (fuel-grade) market is expected to witness sudden growth over the next few years. Some of the key factors driving the market size include increasing population which in turn arise need of more electricity, rapid industrialization and increasing infrastructure developments across the world are likely to propel the market size in the coming years.

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Key Players
Citgo Petroleum Corporation, Marathon Petroleum Corporation, Valero Energy Corp., Motiva Enterprises LLC., Phillips 66 Company, Indian Oil Corporation Ltd., Nayara Energy Ltd., Petrobras, Royal Dutch Shell PLC, Exxon Mobil Corporation, among others are some of the major players in the Global Petroleum Coke (fuel-grade) market.
Moreover, increasing investments by governments of various different countries, rising demand for high energy and cost efficient fuel coming from cement and power sector and new innovations are some other factors that are expected to drive production of petroleum coke (fuel-grade across various region in the coming years.
Petroleum coke emerged as the best alternative to other fuels mainly due to higher calorific value and reduced prices which is motivating industries to reduce their dependency on oil. Also, countries with reduced number of crude oil reserves are anticipated to increase their petroleum coke consumption in the coming years which will prove favourable for the growth of petroleum coke (fuel-grade) market.

Market Segmentation
The global petroleum coke (fuel-grade) market has been segregated into type and application. Based on the type, the global market has been segmented into needle coke, sponge coke, shot coke, honeycomb coke among others. The sponge coke segment is expected to hold the largest market share in the coming years which is mainly due to its wide usage in a variety of applications. Based on the application, the market is divided into power plant, cement, steel, brick and glass, foundries, paper, and pulp. Increasing aluminium production across the globe will drive the aluminium segment market in the coming years.

Detailed Regional Analysis
The global market of the petroleum coke (fuel-grade) market has been segmented across North America (US, Canada, Mexico are covered), Europe (Germany, UK, France, Italy, Russia, Spain etc) India, Japan, China, Southeast Asia, Central & South America and Middle East & Africa (Saudi Arabia, South Africa). The Asia Pacific market is expected to dominate the global petroleum coke (fuel-grade) and will register a healthy CAGR during the coming years. Asia-Pacific market will be followed by North America market. The petroleum coke market is increasing at a significant rate especially in the emerging Asia-Pacific countries and the region will dominate the petroleum coke market in terms of demand. In countries like China, most of the petroleum coke is used in power plants for generating electricity, and in India it is needed cement kilns thus increasing the market size of petroleum coke (fuel-grade) in a significant way. Meanwhile, European market will also witness more demand of petroleum coke mainly due to growing demand of electricity in the region.

Competitive Landscape
Growing tough competition among the major market players will influence the global petroleum coke (fuel-grade) market in the coming years and the leading players are leaving no stone untouched to take maximum benefit of the exiting opportunities in the market.

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Source: EIN Presswire