North America Solid Fuel Market report shares latest trends and future growth study by 2030

The North America solid fuel market was valued at US$ 67,465.56 million in 2022 and is projected to reach US$ 72,950.93 million by 2028; it is expected to grow at a CAGR of 1.3% from 2022 to 2028.
Rising Demand for Petcoke is Driving the North America Solid Fuel Market
Industries across the world are demanding different energy sources. The cement, steel, and power industries are generating high demand for petroleum coke (petcoke).
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Petcoke is cheaper than overseas coal. Owing to rising urbanization and population, demand for construction and electricity generation is increasing at an exponential rate. Petcoke is used in manufacturing building materials and generating electricity. In countries such as India, petcoke is no longer available with Reliance company for local markets. All the factors mentioned above are projected to boost the usage of petcoke, which would bolster the solid fuel market growth during the forecast period.

MARKET INTRODUCTION

The production of coal is rising in North America. According to U.S. Energy Information Administration in January 2023, the coal production in the US was 139.97 MMt [154.3 million short tons (MMst)] in the third quarter of 2022, with an increase of 5.9% compared to its second quarter and growth of around 4.0% compared to the third quarter of 2021. In addition, anthracite accounted for 1% of total coal mined in the US in 2021. Further, the total coal consumption in the US was 131.63 MMt (145.1 MMst) in the third quarter of 2022, with an increase of 23.1% compared to its second quarter. Thus, the rising coal production and consumption increase anthracite production, which boosts the solid fuel market growth in North America.
Coal is one of the largest sources of CO2 emission. According to a report by International Energy Agency (IEA) in November 2022, IEA's Net Zero Emissions by 2050 aims to reduce the use of coal and look for newer technologies. Moreover, the region is adopting hydropower electricity generation as it is one of the clean sources of energy and extensively used for power system flexibility and resilience. For instance, according to US Department of Energy report January 2021, the hydropower capacity increased by a net of 431 MW in 2019 since 2017. The capacity increased from existing facilities, new facilities and by powering non-powered dams (NPDs) which resulted in total net growth of 1,688 MW from 2010 to 2019. Thus, adoption of hydropower across North America will result in the decline of the solid fuel market.
List of Companies Profiled in the North America Solid Fuel Market Report are:
• Indian Oil Corp Ltd
• Essar Global Fund Ltd
• BP Plc
• Lukoil Oil Co
• Valero Energy Corp
• Phillips
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Key Segmentation:

The North America solid fuel market is segmented into fuel type, and country.
Based on fuel type, North America solid fuel market is segmented into petcoke/flexicoke, anthracite, metallurgical coke, and coal. The metallurgical coke segment held the largest market share in 2022.
Based on country, the North America solid fuel market is segmented into the US and Canada. The US dominated the market in 2022.

Table of Contents

Report Overview: It includes the objectives and scope of the study and gives highlights of key market segments and players covered. It also includes years considered for the research study.

Executive Summary: It covers industry trends with high focus on market use cases and top market trends, market size by regions, and market size. It also covers market share and growth rate by regions.

Key Players: Here, the report concentrates on mergers and acquisitions, expansions, analysis of key players, establishment date of companies, and areas served, manufacturing base, and revenue of key players.

Breakdown by Product and Application: This section provides details about market size by product and application.

Regional Analysis: All of the regions and countries analyzed in the report are studied on the basis of market size by product and application, key players, and market forecast.

Profiles of International Players: Here, players are evaluated on the basis of their gross margin, price, sales, revenue, business, products, and other company details.

Market Dynamics: It includes supply chain analysis, analysis of regional marketing, challenges, opportunities, and drivers analyzed in the report.

Key Findings of the Research Study

Appendix: It includes details about research and methodology approach, research methodology, data sources, authors of the study, and a disclaimer.

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