Raipur, Nov. 07, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Petcoke Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Petcoke Market is driven by a host of factors, some of which are noted below:
- Rapid industrialization, especially in developing economies.
- Increased emphasis on reducing dependence on fossil fuels for energy generation.
- In addition, significant developments in infrastructure around the globe have a positive market outlook.
- Rise in the disposable income of consumers along with growing road safety concerns related to passenger and commercial vehicles.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Petcoke Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
- By Grade Type (Fuel Grade and Calcined Grade),
- By Physical Form Type (Sponge Coke, Purge Coke, Shot Coke, and Needle Coke),
- By Application Type (Power Plants, Cement Industry, Steel Industry, Aluminum Industry, and Others),
- By Region (North America, Europe, Asia-Pacific, and Rest of the World).
Petcoke Market Insights
Market Trends by Grade Type
The market is segmented as 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 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.
Market Trends by Physical Form Type
The market is segmented as sponge coke, purge coke, shot coke, and needle coke. The market for needle petcoke is estimated to grow by more than 10% during the forecast period. The growing demand for steel and aluminium will foster the product demand, driven by the growing construction, automobiles and transportation sectors. In addition, rapid marketing and industrialization will further enhance industrial growth in the coming years, primarily in the developing economies.
Which region offers the best opportunity and growth?
The petcoke industry was estimated at more than 2 billion in North America in 2016, and is all set to grow significantly over the forecast period. 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.
COVID-19 Impact on the Petcoke Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
https://www.stratviewresearch.com/Request-Sample/1886/petcoke-market.html#form
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
- BP
- Cocan Graphite Trammo
- ExxonMobil
- Marathon Petroleum
- Reliance
- Atha Group
- Saudi Aramco
- Rain CII
- Essar Oil
- Corporation
What deliverables will you get in this report?
- In-depth analysis of the Petcoke Market
- Detailed market segmentation.
- Competitive-landscape analysis.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- Geographical presence of the key players.
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