LONDON--(BUSINESS WIRE)--The fuel-grade petcoke market size is expected to post a CAGR of close to 4% during 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Rising demand for fuel-grade petcoke from various industries, such as the power and cement industries is one of the key factors expected to trigger the fuel-grade petcoke market growth during the forecast period. The growth in global population is leading to an increase in infrastructural development is driving the demand for cement production. Also, the need for power will spur the demand for fuel-grade petcoke in power generation. Thus, high demand from end-user industries will eventually drive the global fuel-grade petcoke market during the forecast period.
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As per Technavio, the application of fuel-grade petcoke in blast furnaces will have a positive impact on the market growth over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2019-2023.
Fuel-grade Petcoke Market: Application of Fuel-grade Petcoke in Blast Furnaces
Global initiatives are being undertaken to improve efficiency and reduce emissions from blast furnaces, which will drive the use of petcoke. It decreases the carbon footprint, increases cost competitiveness, and reduces the operational cost of a blast furnace. Manufacturers are offering blast furnaces with new designs and technologies to meet the stipulated emission standards. Vendors are also offering technologies and solutions including the gas cleaning and heat recovery systems. This will further help in reducing the operating costs and environmental footprint of blast furnaces.
“Apart from the application of fuel-grade petcoke in blast furnaces, other factors such as the increase in oil refining capacity, rising urbanization, and strategic initiatives toward low-carbon transition in the cement industry will have a significant impact on the growth of the fuel-grade petcoke market during the forecast period,” says a senior analyst at Technavio.
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Fuel-grade Petcoke Market: Segmentation Analysis
This market research report segments the fuel-grade petcoke market by technology end-users (cement industry, power sector, and others) and by region (the Americas, EMEA, and APAC).
Americas led the market in 2018, followed by APAC and EMEA. The market in Americas is driven by power and cement production in the region. However, APAC is anticipated to witness fastest incremental growth in the fuel-grade petcoke market during the forecast period, mainly due to the flourishing cement industry and power generation sector in China.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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