Petroleum Coke Market 2023 : Analysis By Top Major Players, Drivers, Trends And Overview Till 2032 | BP PLC., Chevron Corporation, Essar Oil Ltd., Exxon Mobil Corporation, HPCL - Mittal Energy Limited

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Petroleum Coke Global Market Report 2023 identifies rise in the production of steel as the major driver for the Petroleum Coke market's growth in the forecast period. Steel output has risen globally, owing to growing demand from railways, highway buildings, and automobiles. Petcoke is used as a feedstock in the iron and steel industry, where it is blended with coking coal during the coke-making process. The use of pet coke results in a 16% reduction in coking coal use and a net reduction in energy intensity of just over 1%.

The global petroleum coke market size grew from $25.71 billion in 2022 to $29.8 billion in 2023 at a compound annual growth rate (CAGR) of 15.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The petroleum coke market size is expected to grow to $54.25 billion in 2027 at a CAGR of 16.2%.

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Major competitors in the Petroleum Coke market are BP PLC., Chevron Corporation, Essar Oil Ltd., Exxon Mobil Corporation, HPCL - Mittal Energy Limited, Indian Oil Corporation Ltd., Marathon Petroleum Corporation, Royal Dutch Shell PLC., Saudi Arabian Oil Co., Trammo Inc., Valero Energy Corporation, Reliance Industries Limited, Marathon Petroleum Corporation, Phillips 66 Company, and PJSC Lukoil.

A key trend in the Petroleum Coke market includes increasing investments. Major companies operating in the petroleum coke sector are focused on investments to increase the production capacity of petroleum coke and meet the growing demand from end-use industries. For instance, in November 2021, Oman, the world's largest crude exporter outside of Opec, announced the completion of Sanvira Carbon FZC, the country's first petroleum coke calcining (CPC) project, at the Sohar Freezone.

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The Petroleum Coke market is segmented -

By Type: Fuel Grade, Calcined Coke

By Physical Form: Needle Coke, Sponge Coke, Catalyst Coke, Shot Coke, Purge Coke

By Application: Power Plants, Cement Kilns, Steel, Aluminium, Fertilizer, Other Applications

By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Petroleum Coke market.

The Business Research Company's "Global Petroleum Coke Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Petroleum Coke Market Include:
1. Executive Summary
2. Petroleum Coke Market Characteristics
3. Petroleum Coke Market Trends And Strategies
4. Petroleum Coke Market - Macro Economic Scenario
5. Petroleum Coke Market Size And Growth
……
26. Africa Petroleum Coke Market
27. Petroleum Coke Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Petroleum Coke Market
29. Petroleum Coke Market Future Outlook and Potential Analysis
30. Appendix

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