Press Release / Business / Petroleum Coke Market Latest Global Insights on Trends and Challenges 2025

Petroleum Coke Market Latest Global Insights on Trends and Challenges 2025

Market Highlights:
The Global Petroleum Coke Market is estimated to be valued at USD 35.69 billion by 2023 and record a CAGR of 4.41% during the forecast period. Petroleum coke is a by-product of crude oil refining. Around 75–80% of the Petroleum Coke produced is used as fuel, while the rest is generally calcined.
Top Key Players:
Market Research Future (MRFR) recognizes the following companies as the key players in the Global Petroleum Coke Market: Nayara Energy Ltd (India), Indian Oil Corporation Ltd (India), Petrobras (Brazil), Royal Dutch Shell PLC (Netherlands), Exxon Mobil Corporation (US), Citgo Petroleum Corporation (US), Marathon Petroleum Corporation (US), Valero Energy Corp. (US), Motiva Enterprises LLC (US), Phillips 66 Company (US), India Carbon Limited (India), Aminco Resources LLC (US), and Graphite India Limited (India).
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Segmental Analysis:
According to MRFR analysis, the Global Petroleum Coke Market has been segmented based on Grade, Type, Application and Region.
Based on Grade, the Global Petroleum Coke Market has been categorized into fuel-grade and calcined-grade. The calcined-grade segment accounted for the larger value share in 2018, whereas by volume the fuel-grade segment held a larger share in the same year. The calcined-grade segment is expected to register a value CAGR of over 7% during the forecast period.
Based on Type, the global market has been segmented into needle coke, sponge coke, shot coke, honeycomb coke, and others. Among these, the sponge coke segment held the largest market share of 43.6% by value in 2018 due to its wide usage in a variety of applications.
Based on Application, the global market has been segmented into aluminum, cement, power plants, brick and glass, steel, paper and pulp, and others. Among these, the aluminum segment accounted for the largest market share in 2018 by value due to the growing aluminum production across the globe. The segment is expected to register a CAGR of over 7% during the forecast period. However, by volume, the cement segment held the largest market share in 2018.
Regional Analysis:
Geographically, the Global Petroleum Coke Market has been divided into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. As per MRFR analysis, the Asia Pacific market was the dominant regional market, accounting for the largest share of 59.5% in 2018, and is expected to register a healthy CAGR during the forecast period. Asia-Pacific is followed by North America, which accounted for the second-largest share of the Global Petroleum Coke Market in 2018. The North American market is expected to exhibit a CAGR of over 6% during the forecast period. Latin America was the third-largest market in 2018.
Key Findings of the Study:
The Global Petroleum Coke Market is projected to register a CAGR of 6.88% to reach USD 35.69 billion by the end of 2023.
Based on Grade, by value, the calcined-grade segment held a larger market share in 2018 due to its high cost and is expected to register a CAGR of over 7% during the forecast period.
On the basis of Type, the sponge coke segment held the largest market share, by value and volume in 2018. The segment was valued at USD 11,162.6 million in 2018 and is expected to register a CAGR of over 7% during the forecast period.
Based on Application, by value, the aluminum segment accounted for the largest market share in 2018 and is expected to register the highest CAGR of over 7% during the forecast period.
Asia-Pacific accounted for the largest market share of over 59% in 2018 due to the growth of the end-use industries in the region such as aluminum, steel, cement, paper & pulp, brick, and glass.
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