The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The petroleum coke market has experienced rapid growth, surging from <$27.64 billion in 2023 to <$31.53 billion in 2024, indicating a compound annual growth rate (CAGR) of 14.1%. This growth in the historical period is attributed to robust economic expansion in emerging markets, increased cement production, and the rapid expansion of steel production. Challenges during this period include the impact of the coronavirus pandemic, stringent environmental regulations, and volatility in crude oil prices. However, the market is expected to continue its rapid growth, reaching <$53.8 billion by 2028, with a CAGR of 14.3%. The forecasted growth is linked to rising energy demand, increased aluminum production, and infrastructure development. Key trends in the forecast period include environmentally friendly coke production, heightened investments, research and development activities, and strategic partnerships and collaborations.

The petroleum coke market is set to expand, driven by the increased global production of steel. The rise in steel output, spurred by demand from sectors such as railways, highway construction, and automobiles, has led to a greater use of petcoke as a feedstock in the iron and steel industry. Pet coke, when mixed with coking coal during the coke-making process, reduces coking coal use by 16% and lowers energy intensity. In December 2021, IBEF reported that India’s finished steel and crude steel production reached 94.66 million tonnes (MT) and 102.49 million tonnes (MT) respectively, with predictions for the financial year 2022 indicating a crude steel production of 112-114 million tons, reflecting an 8-9% year-over-year increase. The increasing steel production, driven by advancements in railways, highway construction, automobiles, and transportation, is a significant factor for the petroleum coke market’s growth, with market size values for 2023, 2024, and 2028 highlighting this trend.

Get A Free Sample On The Petroleum Coke Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6055&type=smp

What Are The Key Trends That Influence Petroleum Coke Market Share Analysis?
Companies in the petroleum coke market are forging strategic partnerships and collaborations to broaden their service offerings and tap into new markets. For instance, in May 2023, Emirates Global Aluminum (EGA), an aluminum producer from the UAE, signed a memorandum of understanding with BP, an oil and gas company based in England. This partnership aims to explore potential initiatives to reduce the carbon footprint of EGA’s calcined petroleum coke supply, which could lead to the creation of a calcined petroleum coke blending facility in the UAE.

Which Market Players Are Driving Growth In The Petroleum Coke Market?
Major companies operating in the market are BP PLC, Saudi Arabian Oil Co., Phillips 66 Company, Reliance Industries Limited, Valero Energy Corporation, Indian Oil Corporation Ltd., PJSC Luke Oil, Chevron Corporation, Marathon Petroleum Corporation, HPCL – Mittal Energy Limited, Bharat Petroleum Corporation Ltd (BPCL), GAIL India Ltd, Hindustan Petroleum Corporation Ltd (HPCL), Indian Oil Corporation Ltd, Linde India Ltd, Oil and Natural Gas Corporation Ltd (ONGC), Reliance Industries Ltd, China National Petroleum Corporation, China National Offshore Oil Corporation, Vasundhra Enterprises, Psk Kirzinskii, Monolit, Esproenko LLC, Servistransneftegaz, M/S Ram Janam Singh & Company, Amw Trade, Keshav Traders, S V Ispat Private Limited, Haibo Lupu Business Consulting Co Ltd, Sinopec, BPA British Pipelines Agency, CLH Compañía Logística de Hidrocarburos, GPSS Government Pipelines and Storage System, LCC Lissan Coal Company, OPA Oil and Pipelines Agency, ExxonMobil, Valero, Chevron, British Petroleum, PBF Energy, Phillips 66, Lukoil-Zapadnaya Sibir, Novatek-Yurkharovneftegaz, Oil Tekhnolodzhis, Gazprom Pererabotka, SAE Manufacturing Specialties Corp, WD Energy Group, Atmos Technologies, Carbon Graphite Materials Inc, ReGo Trading Inc, Anker Industries, River Materials Inc, Rain Carbon Inc, Saint Jean Carbon, Shamokin Filler Co Inc, Rain CII Carbon, LA Ash Inc, Carbograf, Asbury Carbons, ConocoPhillips, Unimetal Industria Comercio E Empreendimentos Ltda, Oxbow Brasil Energia Industries, Petrocoque: Indústria Petroquímica, Green Light Agenciamentos De, Shurooq Al Shams International Fzco, World Metal Alloys Fzc, Petroleum Coke, Rawa Chemicals, Fahad International Trade Company, Tajanos Group, Production Plus Co, Durrans RMS, MOL Group

How Is The Global Petroleum Coke Market Segmented?
The petroleum coke market covered in this report is segmented –
1) By Type: Fuel Grade, Calcined Coke
2) By Physical Form: Needle Coke, Sponge Coke, Shot Coke, Honeycomb Coke
3) By Application: Power Plants, Cement Kilns, Steel, Aluminium, Fertilizer, Other Applications

Read The Full Petroleum Coke Market Report Here
https://www.thebusinessresearchcompany.com/report/petroleum-coke-global-market-report

The Petroleum Coke Global Market Report 2024 provides an overview of the petroleum cokemarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The petroleum coke market forecast analyzes petroleum coke market size, petroleum coke market share, leading competitor and their market positions.

The Table Of Content For The Petroleum Coke Market Include
1. Petroleum Coke Market Executive Summary
2. Petroleum Coke Market Segments
3. Petroleum Coke Market Size And Template Market Growth Rate
4.  Key Petroleum Coke Market Trends
5. Major Petroleum Coke Market Drivers
……
25. Key Mergers And Acquisitions In The Petroleum Coke Market
26. Top Petroleum Coke Companies
27. Petroleum Coke Market Opportunities And Strategies
28. Petroleum Coke Market, Conclusions And Recommendations
29. Appendix

Learn More About The Business Research Company
The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model