Petroleum Coke Market Size

Petroleum Coke Market size was over USD 27.9 Billion in 2023 and is predicted to reach USD 69.5 Billion by the end of 2036, growing at around 7.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of petroleum coke is estimated at USD 30.1 Billion.

This growth in the market revenue is poised to be encouraged by the rising production of cement. As per the predictions made by the International Energy Agency, the production of cement rose to 4228 million tons in 2023. Hence, this further influences the demand for petroleum coke in cement. This is because, with the utilization of petroleum coke in cement manufacturing, sulfur is foreseen to be fixed in cement clinker in the form of sulfate.