Global Calcined Petcoke Market 2019-2023 | Increasing Consumption of Paints to Boost Demand | Technavio
LONDON--(BUSINESS WIRE)--Oct 14, 2019--
The calcined petcoke market size is expected to post a CAGR of about 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global calcined petcoke market 2019-2023. (Graphic: Business Wire)
The growing demand for oil has resulted in an increase in the oil refining capacity across the world. As green petcoke is derived from oil refineries as a byproduct, the increase in the global refining capacity is driving the global production of green petcoke. Calcined petcoke is produced by heating green petcoke. Therefore, the increase in the production of green petcoke owing to the rise in oil refining capacity will result in a high supply potential of calcined petcoke.
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As per Technavio, the increasing per capita consumption of paints will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Calcined Petcoke Market: Increasing Per Capita Consumption of Paints
With the consistent growth of the construction industry, the per capita consumption of paints is increasing significantly across the world. The developing countries in APAC such as China and India are contributing to the increasing demand for paints owing to an increase in residential, commercial and infrastructural developments in these countries. One of the essential white pigments used in the paints and coatings industry is titanium dioxide as it offers characteristics such as the efficient scattering of visible light, whiteness, and opacity when combined into a coating. Thus, the requirement of titanium dioxide will increase with the growth of the paints and coatings market. This, in turn, will stimulate the demand for calcined petcoke as it is a key component in the production of titanium dioxide.
“Apart from the increasing per capita consumption of paints, other factors such as the emergence of low-carbon aluminum, and the mineral extraction from petcoke will have a positive impact on the calcined petcoke market growth during the forecast period, ” says a senior analyst at Technavio.
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Calcined Petcoke Market: Segmentation Analysis
This market research report segments the calcined petcoke market by application (aluminum and others), and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, MEA, and South America respectively. The growth of the calcined petcoke market share in APAC can be attributed to factors such as the high production of primary aluminum, and the growth of the paints and coatings market.
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Five Forces Analysis
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KEYWORD: ASIA PACIFIC
INDUSTRY KEYWORD: CHEMICALS/PLASTICS MINING/MINERALS OIL/GAS MANUFACTURING NATURAL RESOURCES ENERGY STEEL
SOURCE: Technavio Research
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PUB: 10/14/2019 11:45 AM/DISC: 10/14/2019 11:45 AM