Calcined Petcoke Market Size

Calcined Petcoke Market size is anticipated to reach USD 25 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of calcined petcoke was USD 16 Billion. The reason behind the market expansion is the growing production of crude oil across the globe.

The most in-demand commodity in the world right now is crude oil which is one of the main factors propelling the world economy. According to estimates, global crude oil output rose at a record of over 5% rate in 2022, significantly faster than it did in 2021.

The growing government initiatives to create a green environment are believed to fuel the market growth. To support the transformation of energy and industrial systems, increase energy efficiency, and combat environmental pollution, governments across the globe have agreed upon general principles that will guide the implementation of the green economy at all levels.