Petroleum Coke Market Outlook 2031

Jayashri11 Oct, 2022News

The global petroleum coke market is envisaged to take massive strides forward in its growth owing to incessant power need of the energy and cement sectors, especially in emerging countries of Asia Pacific The growth of the world petroleum coke market could be further complemented on the back of quick expansion of steel production due to the development of transportation, highway, railway, automobile, and construction industries. Besides its usage as a cost-effective and an alternative fuel, petroleum coke could be engaged as a profitable asset in the manufacture of certain chemicals and as a confined power generation fuel. Due to growing environmental concerns and pollution, the employment of petroleum coke could be discouraged, thus negatively affecting the global demand for petroleum coke. However, the process of gasification of petroleum coke is expected to boost profit margins and encourage clean power production.