The global petroleum coke market is anticipated to witness a substantial 8.5% CAGR during the forecast period of 2014 to 2020, says the report by Transparency Market Research. As per the report the growth of the market is attributed to growing application in cement industry. Moreover, to it is widespread application in various businesses the global petroleum coke market is projected to generate US$ 24.11 bn as revenue by the end of 2020. However, the experts predict that the market might face some challenges that may hamper the growth. Nevertheless, with growing technological advancements and developing application of petcoke is expected to support the global petroleum coke market to maintain its momentum throughout the duration of estimated time frame.
Oppositions by Health Organizations may Hamper the Growth
There are several non-government organizations across the globe that are progressively opposing the use of petroleum coke in the industries owing to their hazardous impact on human health. These oppositions may hamper the growth of global petroleum coke market in future. However, using advanced technologies like reverse osmosis and ultra-thin filters, these hazardous threats can be easily tackled. These technologies can help the global petroleum coke market to maintain its momentum over the forecast period of 2014 to 2020.
Growing Demand for Low Emission Fuels to Drive the Growth
Petroleum products, especially the fuels is getting extremely costly owing to deteriorating trades. This calls for a propulsion product that is cost effective and can perform the job of creating power easily. Using petroleum coke, the efficiency of the fuel can be improved and without affecting the quality of the petroleum product. This propels the demand for petroleum coke in the market and boosts the growth of global petroleum coke market from 2014 to 2020. Moreover, the demand for such effective fuels in power generation industry is also a major factor that supports the growth of global petroleum coke market during the projected time-frame.
Growing Cement and Construction Industry Boosts the Growth of the Market
Cement industries are the largest customer of global petroleum coke market. The petcoke helps the cement industries to delay the settling period of cement which helps their product to gain strength. With the growing number of upcoming infrastructural projects such as dams and power plants, the demand for petcoke has skyrocketed in past few years. These developments in construction industries are anticipated to boost the growth of global petroleum coke market from 2014 to 2020.
Europe’s Dominance Continues
Europe is projected to remain the dominant region of the global petroleum coke market. This is because of the development of several infrastructural projects in countries like Germany and the U.K. These factors cumulatively allow Europe to hold the lion’s share in the global petroleum coke market during the tenure of 2014 to 2020.
The global petroleum coke market is segmented on the basis of:
- Fuel Grade Coke
- Calcined Coke
- End Use Segment Analysis
- Power Plants
- Cement Kilns
- Blast Furnace
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- North America
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Transparency Market Research
90 State Street,
Albany NY - 12207United States
USA - Canada Toll Free: 866-552-3453
7 of 10 large enterprizes view our ToC to take the right decision.View Report ToC