According to the report published by Zion Market Research, the global Green Petroleum Coke Market size was valued at USD 38.01 Billion in 2022 and is predicted to reach USD 64.91 Billion by the end of 2030. The market is expected to grow with a CAGR of 6.92% during the forecast period. The report analyzes the global Green Petroleum Coke Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Green Petroleum Coke Market industry.
Global Green Petroleum Coke Market: Overview
Green petroleum coke is derived as a result of coke decay through the coker unit. When crude oil is transformed into gasoline and jet fuels, green petroleum coke is obtained as a by-product. The quality of green petroleum coke depends on the quality of crude oil. The term ‘green’ refers to the stage of the production process. The sulfur content in green petroleum coke decides the application of green petroleum coke. High sulfur content green petroleum coke is mainly used as a fuel in place of coal. Green petroleum coke with low sulfur content is upgraded through calcining and is used as a raw material for the production of aluminum and steel.
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Global Green Petroleum Coke Market: Growth Factors
Escalating application of the anode-grade green petroleum coke in end-use industries such as aluminum and steel is anticipated to drive green petroleum coke market trends. Apart from this, enhanced acceptance of fuel-grade green petroleum coke as a green alternative compared to more conventional fuels as a perfect and authentic source of renewable energy in industries such as building and construction, cement, and power production will further boost the green petroleum coke market revenue in the years to come.
Furthermore, the steady increase in stringent regulations imposed by most of the countries on myriad industries requiring a reduction in carbon emission along with an increase in the use of eco-friendly fuels coupled with the enhanced cost and diminishing coal resources are projected to lucratively leverage the green petroleum coke market growth. Extensive industrialization witnessed in emerging regions of Latin America and APAC are likely to generate lucrative growth avenues for green petroleum coke market in the years to come.
However, oscillating costs and lack of product supply is predicted to obstruct the expansion of green petroleum coke market in the years ahead. Nevertheless, extensive funding of manufacturing units along with the rising number of firms operating on a global scale can minimize the market hindrances. This, in turn, is predicted to create more growth avenues for green petroleum coke market in the forthcoming years.
Global Green Petroleum Coke Market: Segmentation
The global green petroleum coke market can be divided based on source, form, and application. On the basis of source, the green petroleum coke market is sectored into anode and fuel. Based on the form, the market is divided into spongy coke, honeycomb coke, purge coke, shot coke, and needle coke. On the basis of the application landscape, the market is classified into aluminum, graphite electrode, cement, power station, and Calcined coke.
Global Green Petroleum Coke Market: Regional Analysis
Based on regions, the global green petroleum coke market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America and Europe are the key regions of the green petroleum coke market. At present, Asia Pacific holds a major share of the global green petroleum coke market, in terms of consumption, owing to high product demand in the construction sector along with a massive upsurge in the population. The Middle East and Africa is an emerging region across green petroleum coke market driven by high demand and easy availability of the product.
The green petroleum coke market in India and China is expected to grow at an extensive speed during the forecast span, due to rise in industrialization coupled with increase in the number of construction activities witnessed in these emerging economies.
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Global Green Petroleum Coke Market: Competitive Players
The key market players of the global green petroleum coke market include:
- Oxbow Corporation
- AMINCO RESOURCES LLC.
- Asbury Carbons
- Aluminium Bahrain (Alba)
- Atha Group
- Carbograf Industrial S.A. de C.V.
- Rain Carbon Inc.
- Minmat Ferro Alloys Private Limited
- Shandong KeYu Energy Co., Ltd.
- Weifang Lianxing New Material Technology Co., Ltd.
- Linyi Zhenhua Carbon Technology Co., Ltd.
- among others
The Global Green Petroleum Coke Market is segmented as follows:
- spongy coke
- honeycomb coke
- purge coke
- shot coke
- needle coke
- graphite electrode
- power station
- Calcined coke
Global Green Petroleum Coke Market: Regional Segment Analysis
- North America
- The U.S.
- The UK
- The Asia Pacific
- Latin America
- The Middle East and Africa
What Reports Provides
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market.
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