Petroleum Coke Segmentation
Grade (Fuel Grade, Calcine Petroleum coke)
In petroleum coke market, fuel grade segment is projected to hold revenue share of more than 63.4% by 2037. The fuel grade is extensively used in power generation and industrial processes. For instance, in May 2023, Emirates Global Aluminium signed a non-binding agreement with British oil firm BP to study options for reducing the emissions of the company's calcined petroleum coke supply chain. With industries constantly looking for efficient and reliable fuel sources, superior combustion properties of fuel-grade petroleum coke make them preferable. For instance, in November 2024, according to a research nester report, more than 75% of Petroleum coke generated globally is classified as fuel-grade. Thus, the fuel-grade petroleum coke would serve a vital function for the production of energy.
Application (Power Plants, Cement Industry, Steel Industry, Aluminum Industry, Others)
The cement industry would be the largest consumer in the petroleum coke market with a surge throughout 2037. Due to its high calorific value and low ash content, petroleum coke is considered a suitable choice for cement manufacturers looking to optimize energy and reduce the cost of production. For instance, in September 2020, International Cement Review published that, 80% of the fuels used in cement kilns worldwide are conventional, with petcoke making up 40–45% of this total. In addition, enhanced infrastructure development and urbanization strengthen the requirement for petroleum coke as an essential fuel in cement kilns.
Our in-depth analysis of the global petroleum coke market includes the following segments:
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