World Pet Coke Market to Reach USD 25 Bn in Value by 2025, Projects TechSci Research in Its New Report Available at MarketPublishers.com16 Sep 2016 • by Natalie Aster
LONDON – A by-product obtained from petroleum refining industries, pet coke, is recognised as a promising alternative to conventional fuels applied in energy generation and transportation industries. Owing to the high heavy metal and carbon content, pet coke is widely used as a fuel in power and cement production units. The global demand for pet coke is strong, particularly from construction and automotive industry due to its calorific value in comparison to coal.
Furthermore, intermediates and primary olefins derived from pet coke find application in a broad spectrum of end-use industries, for instance, in the production of solvents, resins, polymers, plasticizers, etc.
The demand for pet coke is also driven by favourable safety standards and rising awareness of other hazard alternatives.
In the next ten years, APAC is predicted to emerge as a major regional market for pet coke, primarily due to strong growth in India, China and Japan.
The world’s pet coke market is expected to register remarkable uptake in the upcoming decade, and by 2025 the market value will likely touch USD 25 billion. Major market growth drivers include increasing investments in the cement industry, expanding industrialization, escalating demand from different downstream industries (like construction, chemicals, textile, automotive, consumer goods, etc.), amid others.
Topical report “Global Pet Coke to Chemicals Market By Derivative, By End Use Application, Competition Forecast and Opportunities, 2011 – 2025” worked out by TechSci Research contains a comprehensive guide to the world’s pet coke market and also discloses trustworthy qualitative and quantitative data on the market performance (historical, present and forecast). The report examines the major factors driving and limiting the market growth, discusses top challenges and outlines lucrative opportunities. It touches upon regulative initiatives, competitive pressures and key industry aspects. Moreover, a ten-year future outlook for the pet coke market is available.
Many other topical research studies prepared by this publisher are provided in the TechSci Research catalogue.