Petroleum coke is the final solid material obtained from oil refining and is available in two forms, fuel grade and calcined grade, petroleum coke is a carbonaceous product obtained from the oil refining process. Refineries around the world strive to operate more efficiently and extract more gasoline and other high-value fuels from each barrel of crude oil, a solid carbon material known as petcoke is produced, petcoke is a function of crude oil and refining technology used by refineries, physically petcoke can be hard or relatively soft. Fuel Grade Petcoke represents 80 percent of the worldwide leader in fuel grade petcoke sourcing and sales, handling more than 11 million tons annually. Fuel grade petcoke is a very high heating value that produces virtually no ash when burned and is commonly used in electric power plants and cement kilns. Petroleum coke can be circulated in fluidized bed boilers in combination with coal or heavy oils; alternatively it can be flown as sole fuel. Petroleum is useful as coke production electrode used as carbon anode for aluminum industry, graphite electrode for steel making, as fuel in firing solid fuel boilers used for power generation and as fuel for cement kilns. Increase in steel production due to development in railways, highway construction, automobiles and transport sectors is complementing the growth of petroleum coke market.

The report “Petroleum Coke Market, By Type (Fuel Grade and Calcined Coke), By Application (Aluminum & Other Metals, Cement, Storage, Steel, Power, and Others), By End User ( Calcining, Power Plants, Cement Kilns, Blast Furnaces and Others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032 “

Key Highlights:

• In August 2022, Essar announced the signing of definitive agreements with ArcelorMittal Nippon Steel for certain ports and power infrastructure assets, primarily dedicated to Hajira Steel plant operations, marking India's largest post-pandemic M&A deal, according to a press release.
• In July 2019, Arabian Cement Company announced that it has signed an agreement with Egyptian Refining Company to provide local petroleum coke in volume tonnes from July 2019. The purpose of this agreement was to reduce petcoke production costs.

Analyst View:

Petroleum coke is a valuable and essential commercial product used in a wide range of applications, including direct aluminum production, fuel and numerous other products including steel, glass, paint and fertilizers. Increasing construction activities in residential commercial and industrial complexes are the major factors positively impacting petroleum coke demand worldwide due to technological developments in synthetic equipment and products that are more efficient to use.

 Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Petroleum Coke Market, By Type (Fuel Grade and Calcined Coke), By Application (Aluminum & Other Metals, Cement, Storage, Steel, Power, and Others), By End User ( Calcining, Power Plants, Cement Kilns, Blast Furnaces and Others)  and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

Key Market Insights from the report:

Petroleum Coke Market accounted for US$ 22.95 billion in 2022 and is estimated to be US$ 50.7 billion by 2032 and is anticipated to register a CAGR of 8.2%. The Petroleum Coke Market is segmented based on Type, Application, End User and Region.

• Based on Type, Petroleum Coke Market is segmented into Fuel Grade and Calcined Coke.
• Based on Application, Petroleum Coke Market is segmented into Aluminum & Other Metals, Cement, Storage, Steel, Power, and Others.
• Based on End User, Petroleum Coke Market is segmented into Calcining, Power Plants, Cement Kilns, Blast Furnaces and Others.
• By Region, the Petroleum Coke Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Petroleum Coke Market:

The prominent players operating in the Petroleum Coke Market includes, HPCL-Mittal Energy Limited, Chevron Corporation, BP Plc, Valero Energy Corporation, Reliance Industries Limited, Aminco Resource, Indian Oil Corporation, Nippon Coke and Engineering, ConocoPhillips, Sumitomo Chemicals.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

• Explains an overview of the product portfolio, including product development, planning, and positioning
• Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
• Detailed analysis of the market revenue over the forecasted period.
• Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
• Study on the segments that are anticipated to dominate the market.
• Study on the regional analysis that is expected to register the highest growth over the forecast period

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