LONDON--(BUSINESS WIRE)--The global fuel-grade petcoke market research report by Technavio predicts the market to post a CAGR of close to 4% during the period 2019-2023.
Urbanization has been increasing significantly across the globe due to the improvement in standards of living, rise in population, and the availability of better facilities and infrastructure in urban areas. The increasing urban population will promote the need for basic facilities such as public infrastructure and houses, which will drive the demand for cement. The consumption of fuel-grade petcoke will increase with the increasing demand for cement.
As per Technavio, the application of fuel-grade petcoke in blast furnaces will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global fuel-grade petcoke market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
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Global fuel-grade petcoke market: Application of fuel-grade petcoke in blast furnaces
The fuel-grade petcoke generates a large amount of heat owing to its calorific value, which is twice more than that of coal. This has been promoting its use in blast furnaces as an alternative fuel to conventional coal. The global initiatives to enhance efficiency and reduce emissions from blast furnaces will drive the use of petcoke significantly as it helps in decreasing environmental footprint, improving cost competitiveness, and reducing the operational cost of a blast furnace.
“The manufacturers have been offering blast furnaces using new designs and technologies to meet the emission standards. The technologies such as gas cleaning and heat recovery systems are being offered that further reduce operating costs and environmental footprint of the blast furnaces. The aim of reducing the environmental footprint of blast furnaces will boost their efficiency, thereby driving the demand for fuel-grade petcoke,” says a senior research analyst at Technavio.
Global fuel-grade petcoke market: Segmentation analysis
This fuel-grade petcoke market analysis report segments the market by end-user (cement industry, power sector, and others) and geography (the Americas, APAC, and EMEA).
The cement industry segment held the largest fuel-grade petcoke market share in 2018, accounting for over 53% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2018 with more than 46% of the market share, followed by APAC and EMEA respectively. The Americas is expected to dominate the market throughout the period 2019-2023.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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