Solid Fuel Market Share Is Likely To Reach a Valuation of Around $401.54 Billion by 2028
April 3, 2023 ⚊ 1 Min read ⚊ Views 77 ⚊ BLOG
There is an expansion and development of refineries across the world. In June 2022, the IEA oil market report predicted that net global refining capacity would expand by an extra 1.6 million b/d in 2023. The expansion or new refining capacity growth consists of various high-capacity refinery projects underway, especially in the Middle East and China. The aforesaid region and country have the potential to add over 4.0 million b/d of new capacity in next two years.
Market Analysis:
The solid fuel market is expected to grow from US$ 389.14 billion in 2022 to US$ 401.54 billion in 2028; it is expected to record a CAGR of 0.5% during 2022–2028.
Indian Oil Corp Ltd, Exxon Mobil Corp, RESORBENT Sro, JH CARBON PTY LTD, Essar Global Fund Ltd, BP Plc, Lukoil Oil Co, Valero Energy Corp, Phillips 66, and Hargreaves (UK) Services Ltd. are a few key solid fuel market players.
In terms of revenue, North America dominated the solid fuel market share.
