New York , March 13, 2024 (GLOBE NEWSWIRE) — The global calcined petcoke market size is predicted to expand at 5% CAGR between 2024 and 2036. The market is projected to garner a revenue of USD 25 billion by the end of 2036, up from a revenue of USD 16 billion in the year 2023. The reason behind the growth is due to 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. For instance, the demand for crude oil worldwide was over 99 million barrels per day in 2022 and is expected to rise to around 101 million barrels per day in 2023. According to estimates, global crude oil output rose at a record of over 5% rate in 2022, significantly faster than it did in 2021.

(GlobeNewsWire)