According to the latest publication of QY Research titled, “Global Green Petroleum Coke & Calcined Petroleum Coke Market Report, History and Forecast 2014-2025,” the global Green Petroleum Coke & Calcined Petroleum Coke market is expected to witness robust growth in the years to come. The entire competitive ecosystem is likely to see an arrival of new players which can create magnanimous opportunities in the global market.
The expert team of analysts in QY Research forecast that global market for green petroleum coke & Calcined Petroleum Coke is anticipated to grow at US$ 33.58 Bn in the year 2025 from US$ 24.11 Bn, registering a moderate CAGR of 4.8% during the projected period.
Global Green Petroleum Coke & Calcined Petroleum Coke Market: Competitive Analysis
The existing top players in the market are focusing on the expansion of their production facilities. They are also assigning resources for the promotion of green petroleum instead of using conventional sources. Introduction of new products and acquisition & mergers are some other fundamental strategies accepted by the manufacturers to gain traction in the market. Some of the key players functioning in the market are BP, Sinopec, LyondellBasell, Valero, ConocoPhilips, Reliance, PBF Energy, Shell, RAIN CARBON, ExxonMobil, Oxbow, CNPC, Marathon Petroleum Corporation, Chevron, and Saudi Aramco.
Global Green Petroleum Coke & Calcined Petroleum Coke Market: Regional Analysis
Europe and North America are two important regions of this market. In terms of consumption, the Asia Pacific region is expected to grab a major share of the market. This is primarily because of higher demand from the construction sector due to a growing population. The market is expected to grow rapidly in India and China throughout the projected period because of rising industrialization and development in the construction industry. It is to be noted that China is the leading supplier of petroleum coke.
Global Green Petroleum Coke & Calcined Petroleum Coke Market: Segmental Analysis
On the basis of products, the global Green Petroleum Coke & Calcined Petroleum Coke market is segmented into Calcinated Coke and Fuel Grade. Based on end-use industries, the market is segmented into Steel, Cement, Aluminum, Power, and Others.
Global Green Petroleum Coke & Calcined Petroleum Coke Market: Drivers
The key driving factors are growing demand for petroleum coke in the steel industry, development in the heavy oils supply across the globe, growth in the power generation and cement power industries and favorable policies of government regarding the green and sustainable environment.
Another reason behind the expansion of this market is remarkable growth in car, rail and transport development which has increased the demand for steel and petroleum coke. The rising use of green petroleum coke in electronic and ceramics industries is expected to boost the growth of the global Green Petroleum Coke & Calcined Petroleum Coke market. Increasing construction activities, particularly in India, Thailand, Japan, and China, is fuelling the growth of the global market.