Published on : Dec 05, 2019
ResearchMoz.us has announced the addition of a report, titled “Global Calcined Petcoke Market Insights, Forecast to 2025”. The report on the global calcined petcoke market offers an elaborate assessment of key growth trends and drivers, recent developments in the market, the competitive ecosystem, and opportunity and challenges analysis. Segments in the report are created by product type and application.
The global calcined petcoke market will see a decent growth over the forecast period, starting 2019 and ending 2025. The steady CAGR (Compound Annual Growth Rate) that the market is set to chart will create plethora of opportunities for market players, bringing the market worth up notably.
There are multiple factors driving growth in the global calcined petcoke market. One of them is an increase in demand from steel industry where it is used in electrodes as an additive. It is also used as a carburizer. Moreover, during the production process, need for anode grade petcoke and needle coke will fuel market on a higher growth curve. Another noteworthy mention here would be of steel industry looking for petroleum coke in a big way.
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Then, there is also demand arising from the construction sector which is all set to see stellar growth over the coming years. As per a PwC sponsored study, called Global Construction 2030, the increase in volumes would be massive. By 2030, the output is set to increase by 85% globally. This will be worth USD 15.5 trillion. Countries that will dominate construction market are China, India and the United States. These will account for 57% of total market growth. This is attributable to increase in population, that creates demand for residential, recreational and commercial buildings. Besides, increasing disposable incomes are contributing positively to growth trajectory.
Other key factors include good supply of heavy oils on a global levels and increase in support from governments which are noted coming up with novel policies and initiatives in favor of the market. Development of cement and power sector is also leading to growth in global calcined petcoke market.
The market for calcined petcoke is fragmented and is ready to see new entrants over the forecast period. Some of the prominent players in the market landscape include:
Most players in the industry use certain strategies to their advantage. For instance, kepy players do not shy away from mergers and acquisitions. Most also know how to use strategic partnerships and collaborations to their mutual benefit. It is also worth noting here that there is a decent level of integration across the stages of value chain- from manufacturing to distribution to end-use stakeholders.
Currently, major focus is on developing better processes for manufacturing needle coke of intermediate level. The aim behind these concerted efforts is to diversify application of the said coke by improving properties, creating new advantages.
Region-wise, Asia Pacific will show tremendous growth owing to robust economic growth and a considerable amount of rise in construction activities. In construction itself, India and China will hold the lion’s share as stated before. Other countries from the region that will see rise in construction output over the forecast period include Japan and Thailand. This region will also see a steady increase in population over the same period, which is good news for the market. There is also a considerable degree of urbanization happening across emerging economies, which will again contribute to growth in the global calcined petcoke market via the construction route.