Green Petroleum Coke Market was valued approximately USD 12.72 Bn in 2019 and estimated to reach a CAGR of about XX % during a forecast period of 2019-2027.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Raoid development in railways, highway construction, automobiles, and transportation segments are increasing the demand for steel, which in turn demand the green petroleum coke. The coke has a comparatively low ash content and negligible toxicity , which is used on large scale in numerous industries.
Low freight costs coupled with better resource conservation are expected to increase the demand for green petroleum coke. Additionally, an extensive funding of manufacturing units along with the rise in number of firms operating on a global scale are expected to drive the market growth.
On the other hand, high costs and lack of product supply is expected to obstruct the expansion of green petroleum coke market during the forecast period.
The calcined coke is expected to contribute US$ XXMn share in the global green petroleum coke market. An increase in demand for petroleum coke in the steel industry, development in the cement and power generation industries, and favorable government initiatives concerning the sustainable and green environment are expected to increase the demand for global green petroleum coke market.
Region-wise, The Asia Pacific region is projected to be leading region in the global green petroleum coke market. The leading postion in the market is attributed to the rise in demand from the construction sector because of the growth in the population. Rapid industrialization and development in the construction industry are expected to boost the market growth in the region.
Some of the prominent key playres in the global green petroleum coke market are focusing on the expansion of their production facilities. They are also allocating resources for the promotion of green petroleum as an alternative of using conventional sources. An introduction of innovative products and acquisition & mergers are some strategies , which are accepted by the manufacturers to gain traction in the global green petroleum coke market.