Petroleum Coke Market:In-Depth Analysis and Forecast on Market Dynamics, Emerging Trends, Growth Factors

The global petroleum coke market is anticipated to witness a substantial 8.5% CAGR during the forecast period of 2014 to 2020, says the report by Transparency Market Research. As per the report the growth of the market is attributed to growing application in cement industry. Moreover, to it is widespread application in various businesses the global petroleum coke market is projected to generate US$ 24.11 bn as revenue by the end of 2020. However, the experts predict that the market might face some challenges that may hamper the growth. Nevertheless, with growing technological advancements and developing application of petcoke is expected to support the global petroleum coke market to maintain its momentum throughout the duration of estimated time frame.

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Oppositions by Health Organizations may Hamper the Growth

There are several non-government organizations across the globe that are progressively opposing the use of petroleum coke in the industries owing to their hazardous impact on human health. These oppositions may hamper the growth of global petroleum coke market in future. However, using advanced technologies like reverse osmosis and ultra-thin filters, these hazardous threats can be easily tackled. These technologies can help the global petroleum coke market to maintain its momentum over the forecast period of 2014 to 2020.

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Growing Demand for Low Emission Fuels to Drive the Growth

Petroleum products, especially the fuels is getting extremely costly owing to deteriorating trades. This calls for a propulsion product that is cost effective and can perform the job of creating power easily. Using petroleum coke, the efficiency of the fuel can be improved and without affecting the quality of the petroleum product. This propels the demand for petroleum coke in the market and boosts the growth of global petroleum coke market from 2014 to 2020. Moreover, the demand for such effective fuels in power generation industry is also a major factor that supports the growth of global petroleum coke market during the projected time-frame.

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Europe’s Dominance Continues

Europe is projected to remain the dominant region of the global petroleum coke market. This is because of the development of several infrastructural projects in countries like Germany and the U.K. These factors cumulatively allow Europe to hold the lion’s share in the global petroleum coke market during the tenure of 2014 to 2020.

The global petroleum coke market is segmented on the basis of:

Type
Fuel Grade Coke
Calcined Coke
End Use Segment Analysis
Calcining
Power Plants
Cement Kilns
Blast Furnace
Others

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