Pet Coke Demand Set to Surpass $ 25 Billion by 2025: TechSci Research Report
07 Oct, 2016, 16:30 BST
NEW YORK, October 7, 2016 /PRNewswire/ --
Growing demand for cost efficient source of energy, coupled with increasing infrastructural developments and rising discoveries of new sources of pet coke to drive global pet coke market through 2025
According to TechSci Research report, "Global Pet Coke Market By Type, By End Use, By Region Competition Forecast & Opportunities, 2011-2025'’, the global pet coke market is forecast to surpass US$ 25 billion by 2025. On the basis type of pet coke market has been segmented into two categories such as, fuel grade and calcined grade pet coke. Fuel grade pet coke accounts nearly 80% of the total pet coke production across the world and is majorly used for power and electricity generation purposes across various manufacturing industries. Rising power consumption, growing urbanization, increasing investments by various governments, coupled with rising demand for high energy and cost efficient fuel from cement, smelting and power generation industries are the major factors driving global pet coke market. Moreover, discoveries new sources of pet coke, coupled with growing demand from cement and power sector are further expected to drive production of pet coke across various region during the forecast period.
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Browse 6 market data Tables and 88 Figures spread through 137 Pages and an in-depth TOC on
"Global Pet Coke Market"
Cement industry was the largest consumer of the pet coke across various end use industries for pet coke across the world, and thus dominated global pet coke market in 2015, and is further anticipated to maintain it's dominance in the coming years, owing to growing cement production globally. Moreover, global cement market exhibited a CAGR of more than 5% during 2011-2015, and demand for cement is projected to surpass around 5.2 billion metric ton by 2019, thereby driving demand for pet coke in the coming years. Furthermore, pet coke can be categorized into fuel grade and calcined grade pet coke out of which, fuel grade pet coke accounted for lions share in the pet coke market across the globe in 2015 and is further forecast to continue it's dominance during the forecast period, on account of rising consumption of fuel grade pet coke in power and electricity generation. which can be attributed to it's high heating value and competitive pricing as compared to coal has higher carbon purity is extensively used in aluminum and steel industries. Additionally, global aluminum market accounted for a total production of around 54 million tons in 2014, and is further expected to grow in the coming years, thereby fueling demand for pet coke during the projected period.
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"Rising demands for oil products for power and electricity generation has led to the over-dependency on oil across the world. However, pet coke has emerged as a promising alternative to other fuels owing to, its high calorific value and competitive pricing. Moreover, rising adoption of pet coke by various end use industries is further reducing dependence on oil. Consequently, countries with lower crude oil reserves are expected to exhibit increase their pet coke consumption during the projected period, thereby driving global pet coke market through 2025", said Mr. Rishi Srivastava, Manager Research with TechSci Research, a research based global management consulting firm.
"Global Pet Coke Market By Type, By End Use, By Region Competition Forecast & Opportunities, 2011-2025'’ has evaluated the future growth potential of global pet coke market and provides statistics and information on market size, structure and future growth potential. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global pet coke market.
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