Pet Coke Market: Comprehensive Study Explores Huge Growth in Near Future

Pet Coke Market 2018 Global Industry Analysis by Size, Share, Key Players and Forecast to 2023

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Pet Coke Market 2018 Pet Coke Market 2018: Global Industry Analysis by Size, Share, Key Players and Forecast to 2023

Pet coke is used in a wide range of application owing to their excellent properties such as low VOC content, low ash content and high calorific value among others. It is extensively used in the power generation, cement industry, steel industry, and aluminum industry among others. The increasing consumption in the power sector and cement industry across the globe is substantially affecting the growth of the pet coke market.

The global pet coke market is being driven by a range of application in the various end-use industries. The growing need for energy in the developing regions throughout the globe is one of the major factors driving the global market. Moreover, it is estimated that the fuel grade coke is set to witness the highest growth due to the growing power industry owing to its low production cost and high calorific value among others during the forecast period, 2017-2023.

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Pet Coke Market 2018 Market Segmentation The global pet coke market is segmented into product type, and end-user.

On the basis of the product type, the market is segregated into needle coke, sponge coke, catalyst coke, shot coke, and purge coke.

On the basis of the grade, the market is classified as fuel grade and calcined grade.

The market by the application is further categorized into power plants, cement industry, steel industry, aluminum industry, and others

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Pet Coke Market 2018 Major Players in this Research: Key Players for Pet Coke Market: • Chevron Corporation (the U.S.), • British Petroleum (London), • Essar Oil Ltd. (India), • Hindustan Petroleum Corporation Limited (India), • Exxon Mobil Corporation (the U.S.), • Indian Oil Corporation Limited (India), • Royal Dutch Shell Plc (Netherland), • Reliance Industries Limited (India), • Saudi Arabia Oil Company (Saudi Arabia), • Valero Energy Corporation (the U.S.)

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Pet Coke Market 2018 Regional Market Analysis The global pet coke market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the global market and is projected to be the fastest growing market, owing to the increasing consumption of pet coke in the cement industries and power generation among others. It is estimated that the power industry application segment is set to observe the highest CAGR in the market due to growing need for low-cost energy production in the developing regions to meet their energy requirements.

The North American market is expected to grow at a steady CAGR due to the growing adoption rate of the product. The U.S. and Canada have achieved a significant place in the market due to the developed end-user industries such as steel and cement among others.

Moreover, the approval by the Environment Protection Agency, in the U.S. is further expected boost the growth of the market in the region.

The growing infrastructural development in the Middle East and Africa is expected to have a positive impact on the market in the region.

Moreover, the increasing oil and gas related activities in the region, especially in the Middle East, will also affect the market significantly during the forecast years.

A moderate development is achieved in the European market due to the growing adoption of the product in power generation and other end-user industries. In addition to this, the growing use of petroleum coke in the power industries due to its environment-friendly and cheap source are other factors attributing to the growth of the market.

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