Petroleum Coke Market Share

APAC Market Statistics

Asia Pacific industry is poised to hold largest revenue share of 35% by 2037. This growth can impelled by the rising urban population which is further influencing electricity, and food demand. As per UNICEF predictions, cities in Asia are rising at a high pace, and over 55 percent of the population in this region is set to reside in urban areas by 2030. 

The China market for petroleum coke is foreseen to have notable growth in the market over the years to come due to the rising production of textiles. 

The petroleum coke market in Japan is additionally predicted to grow during the projected timeframe owing to the rising development of EVs along with the rise in the launch of subsidy schemes to boost the adoption of EVs. 

 Another major area is India which is observing major growth in the petroleum coke market. This could be on account of the rising import of petcoke. 

European Market Analysis

By the end of 2037, Europe region in petroleum coke market is expected to reach USD 30.5 Billion. This growth in the region’s market is poised to be influenced by the growing availability of petroleum reserves. For instance, as per the World Economic Forum, OPEC countries which also include European nations consist of about 80% of oil reserves. Hence, petroleum is considered to be the preferable option for coke production as compared to coal and natural gas.

The UK’s population percentage is growing which will contribute to the market’s growth.

The major factor that is driving this growth in Germany country is the growing pressure to manufacture advanced materials.

The France market is evaluated to be influenced by growing disposable income which is further influencing people to invest in automobiles.