Top Findings on Global Fuel-grade Petcoke Market Forecast Till 2023



The global fuel-grade petcoke market is expected to witness a CAGR of about 3.5% during the forecast period. Certain factors that are driving the market growth include rising demand for fuel-grade petcoke from various industries, an increase in oil refining capacity, and rising urbanization.
As per the latest market research report published by Technavio, the Global fuel-grade petcoke market size will grow USD 2.18 billion during 2019–2023. The report offers an analysis of the market based on end-users (cement industry, power sector, and others) and presents in-depth insights into the growth prospects of the market across APAC, EMEA, and the Americas.
Download the free sample report @ http://bit.ly/2m43AxF
Fuel-grade petcoke is a solid carbonaceous residue produced by thermal decomposition of petroleum fractions. It can be used as fuel in several industries, mainly in the cement and power industries. They possess high heat and carbon content and good chemical stability, which makes it an efficient fuel for producing bricks and related products, hence they are relatively cost-effective.
Fuel-grade petcoke has similar characteristics to those of coal and they can be used for power generation. The growth in demand for power will boost the demand for fuel-grade petcoke. Hence, the growth in power and cement industries will significantly drive the growth of fuel-grade petcoke market during the forecast period.
Fuel-grade petcoke is an essential commercial product that is widely used in power generation, cement kilns, and other industries. Blast furnaces consume a significant amount of energy and are used for manufacturing iron and steel.
Fuel-grade petcoke used as an alternative fuel to conventional coal in blast furnaces as they generate a large amount of heat and its calorific value is twice that of coal. The use of petcoke reduces the environmental footprint, improves cost competitiveness, and reduces the operational cost of a blast furnace. The applications of fuel-grade petcoke in the blast furnace is expected to support the growth of the fuel-grade petcoke market.
Furthermore, according to the IEA, the cement industry was identified as the third-largest industrial energy consumer and the second-largest carbon emitter. The rise in the population has led to an increase in infrastructural development, which is driving the demand for cement production and electric power.
The growth in demand for power electricity will trigger the demand for fuel-grade petcoke in power generation. Therefore, the rising demand for fuel-grade petcoke from various industries will boost the global market to grow at a CAGR of almost 4% during the forecast period.
Get the Complete Report @ http://bit.ly/2kI0RtO

Location: United States

Comments

Post a Comment

Popular posts from this blog

How Technology Will Continue to Shape the Trade Finance Market

Image
The global trade finance market size is expected to grow by USD 8.47 billion during 2018-2022. Technavio’s market research report offers a complete analysis of the market based on trade finance instrument (traditional trade finance instruments, supply chain finance, and structured trade finance) and geography (the Americas, APAC, and EMEA). The trade finance market research the report analyses the market’s competitive landscape and offers information on several companies including BNP Paribas, Citigroup, HSBC Group, JPMorgan Chase, and Wells Fargo. Download the Free Sample Report Because of the undergone changes in the trade finance market in the past few years direct results of several different factors, including changes in regulations, corporate behavior, and increased competition. The largest impact on the market has come from headways in technology. Technology integration into trade finance has streamlined processes, improve relationships between banks and financ...
Read more

Liquid Silicone Rubber Market – Latest Insights on Forecast and Analysis 2020-2024

Image
The liquid silicone rubber market size has the potential to grow by USD 715.78 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. Market Competitive Analysis The market is concentrated, and the vendors in this marketspace mainly compete based on factors such as the cost of production, innovation in products, price, operational cost, R&D cost, and product quality. Focusing on increasing their product portfolio, liquid silicone rubber suppliers are increasingly investing in R&D activities. CHT Group, Elkem ASA, and KC Co. Ltd. are some of the major market participants. Although the rising demand for lightweight materials in the automotive industry will offer immense growth opportunities, the fluctuation in raw material prices will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth pro...
Read more

Scented Candles Market – Top Insights on The Latest Trends

Image
The  scented candles market  size has the potential to grow by USD 1816.06 mn during 2020-2024 Market Competitive Analysis The market is fragmented. Bolsius International BV, Diptyque SAS, Godrej Consumer Products Ltd., NEST Fragrances, Newell Brands Inc., Reckitt Benckiser Group Plc, S.C. Johnson & Son Inc., ScentAir Technologies LLC, The Bridgewater Candle Co., and The Procter & Gamble Co. are some of the major market participants. Factors such as increasing investment in household interiors, growing home décor market, and diversified product portfolio of key vendors will offer immense growth opportunities. However, stiff competition from the unorganized sector, emission of toxic fumes, and criticality of inventory management and product sourcing may impede market growth. To make the most of the opportunities, vendors should focus on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing ...
Read more