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The global petroleum coke market was valued at US$ 21.8 Billion in 2021.
We expect the global petroleum coke market to exhibit a CAGR of 7.6% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the temporary closure of numerous end use industries for petroleum coke.
The rising focus on enhancing crop protection, along with the growing adoption of petroleum coke to produce ammonia and urea ammonium nitrate, is primarily driving the global petroleum coke market.
Based on the type, the global petroleum coke market has been segregated into fuel grade coke and calcined coke. Currently, fuel grade coke holds the largest market share.
Based on the application, the global petroleum coke market can be bifurcated into power plants, cement kilns, steel, aluminium, fertilizer, and others. Among these, aluminium exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global petroleum coke market include BP p.l.c., Chevron Corporation, ConocoPhillips Company, Exxon Mobil Corporation, HPCL-Mittal Energy Limited, Indian Oil Corporation Ltd., Marathon Petroleum Corporation, Shell plc, Saudi Aramco Group, Trammo, Inc., and Valero Energy Corporation (VLO).
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