Petcoke Market is Forecasted to Reach US$ 34.63 Billion in 2028, Says Stratview Research

The global petcoke market is projected to witness a growth rate of 9.8% annually from 2022 to 2028 with an anticipated size of US$ 34.63 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global petcoke market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2028: US$ 34.63 billion
Growth (CAGR): 9.8% during 2022-2028
Forecast Period: 2022-2028
Trend Period: 2016-2020
Base Year: 2021
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Petcoke Market:

The global petcoke market is segmented based on grade type, physical form type, application type, and region.

Based on grade type - The market is segmented into fuel grade and calcined grade. Calcined petroleum coke is expected to lead the market during the forecast period. The growth of the segment can be attributed to its low-emission properties and high investments made in the development of the primary metal manufacturing industry. Increased use of calcinated petcoke and its growing demand for steel mills as a recarburizing agent will increase the industry prospects. Furthermore, changing trends towards coke's use in furs & boilers as a substitute for coal will have a positive impact on the timeline for its adoption.

Based on physical form type - The market is segmented as sponge coke, purge coke, shot coke, and needle coke. The market for needle coke is estimated to grow by more than 10% during the forecast period. The growing demand for steel and aluminum will foster the product demand, driven by the growing construction, automobile, and transportation sectors. In addition, rapid marketing and industrialization will further enhance industrial growth in the coming years, primarily in developing economies.

To know the most attractive segments, click here:
https://stratviewresearch.com/1886/petcoke-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that the petcoke industry was estimated at more than 2 billion in North America and is all set to grow significantly over the forecast period. This growth outlook is majorly attributed to the following-

• Business growth is majorly driven by positive perspectives for the expansion of the primary metal industry and continuous investments made in refinery expansion.
• Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

Petcoke Market Drivers:

Some of the key drivers listed in the report are given below.

• Rapid industrialization, especially in developing economies
• The increased emphasis on reducing dependence on fossil fuels for energy generation
• Significant developments in infrastructure around the globe have a positive market outlook.
• The rise in the disposable income of consumers along with growing road safety concerns related to passenger and commercial vehicles.

Top Companies in the Petcoke Market:

Stratview Research has identified the following companies as the top market players.
• Atha Group
• BP
• Cocan Graphite Trammo
• Corporation
• Essar Oil
• ExxonMobil
• Marathon Petroleum
• Rain CII
• Reliance
• Saudi Aramco

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Petcoke Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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About Us:
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.