Emerging Trends in Fuel-grade Petcoke Market

ELMHURST, Ill. - Oct. 1, 2019 - PRLog -- 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.

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.

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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.

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