Middle East & Africa Solid Fuel Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Fuel Type (Petcoke/Flexicoke, Anthracite, Metallurgical Coke, and Coal)
The Middle East & Africa solid fuel market was valued at US$ 12,718.48 million in 2022 and is projected to reach US$ 11,366.88 million by 2028; it is expected to grow at a CAGR of -1.9% from 2022 to 2028.
Development and Expansion of Refineries is Driving the Middle East & Africa Solid Fuel Market
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. Substantial refinery capacity was extended in the Middle East in 2021. In Saudi Arabia, Jizan refinery with 400,000 b/d capacity came online by the end of 2021 and commenced exporting petroleum products at the beginning of 2022.
Therefore, the expansion of refineries would increase the use of solid fuels, which is expected to offer lucrative opportunities for the solid fuels market during the forecast period.
Middle East & Africa Solid Fuel Market Overview
The region is rich in oil reserves, coal production, and petroleum refineries. It is projected that oil product sales would reach 8–9 million b/d at the end of 2023 since projects for new refineries are open in the UAE, Iraq, Oman, and Saudi Arabia. With respect to coal usage in the energy sector, the largest market for hard coal is APAC, accounting for 54% of global statistics. Moreover, the Middle East is interested in coal energy. China is the largest and business partner for the region with respect to coal usage. Countries such as the UAE, Morocco, and Israel are known for high coal usage.
The three major oil producers in the region are Iraq, Iran, and Saudi Arabia. Oman, Qatar, Kuwait, and the UAE are the next in the regional oil league countries. However, Bahrain and Yemen have a combined output of nearly 1 m barrels/day. In 2021, the region had 13 countries with active refineries and a total refining capacity of 12,145 mbd. The major active refineries are Ras Tanura, Ruwais, Jubail II, Bandar Abbas II, and Mina Abdullah. Moreover, 18 new refineries are predicted to start operations in the region. Al-Zour (Kuwait), Siraf and Bandar Jask (Iran), and Duqm I (Oman) are among the upcoming refineries in the region, which are expected to start by 2026. Commence of new refineries in the region is projected to bring opportunities for solid fuels.
Middle East & Africa Solid Fuel Market Revenue and Forecast to 2028 (US$ Million)
Middle East & Africa Solid Fuel Market Segmentation
The Middle East & Africa solid fuel market is segmented into fuel type, and country.
Based on fuel type, Middle East & Africa solid fuel market is segmented into petcoke/flexicoke, anthracite, metallurgical coke, and coal. The metallurgical coke segment held the largest market share in 2022.
Based on country, the Middle East & Africa solid fuel market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. South Africa segment dominated the market in 2022.
Indian Oil Corp Ltd; Essar Global Fund Ltd; BP Plc; and Lukoil Oil Co are the leading companies operating in the Middle East & Africa solid fuel market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Middle East & Africa Solid Fuel Market Landscape
4.1 Market Overview
4.2 Middle East & Africa PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Middle East & Africa Solid Fuel Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Use of Coal Across Different Countries
5.1.2 Establishment of Refineries Driving Use of Coal
5.2 Market Restraints
5.2.1 Availability of Coal Substitutes
5.2.2 Government Mandates for Limiting Greenhouse Gas Emissions
5.3 Market Opportunities
5.3.1 Development and Expansion of Refineries
5.4 Future Trends
5.4.1 Rising Demand for Petcoke
5.5 Impact Analysis of Drivers and Restraints
6. Solid Fuel Market – Middle East & Africa Market Analysis
6.1 Middle East & Africa Solid Fuel Market Overview
6.2 Middle East & Africa: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
7. Middle East & Africa Solid Fuel Market Analysis – By Fuel Type
7.1 Overview
7.2 Middle East & Africa Solid Fuel Market, By Fuel Type (2021 and 2028)
7.3 Petcoke/Flexicoke
7.3.1 Overview
7.3.2 Petcoke/Flexicoke: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
7.3.3 Cement
7.3.3.1 Cement: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
7.3.4 Lime Kilns
7.3.4.1 Lime Kilns: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
7.3.5 Gasification Units
7.3.5.1 Gasification Units: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
7.3.6 Industrial Boilers
7.3.6.1 Industrial Boilers: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Anthracite
7.4.1 Overview
7.4.2 Anthracite: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Metallurgical Coke
7.5.1 Overview
7.5.2 Metallurgical Coke: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
7.5.3 Iron & Steel
7.5.3.1 Iron & Steel: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
7.5.4 Glass
7.5.4.1 Glass: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
7.5.5 Others
7.5.5.1 Others: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Coal
7.6.1 Overview
7.6.2 Coal: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
7.6.3 Thermal
7.6.3.1 Thermal: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
7.6.4 Metallurgical
7.6.4.1 Metallurgical: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
8. Middle East & Africa Solid Fuel Market – Country Analysis
8.1 Overview
8.1.1 MEA: Solid Fuel Market, by Key Country
8.1.1.1 Saudi Arabia: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
8.1.1.1.1 Saudi Arabia: Solid Fuel Market, By Fuel Type
8.1.1.1.1.1 Saudi Arabia: Solid Fuel Market, By Petcoke/Flexicoke
8.1.1.1.1.2 Saudi Arabia: Solid Fuel Market, By Metallurgical Coke
8.1.1.1.1.3 Saudi Arabia: Solid Fuel Market, By Coal
8.1.1.2 UAE: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
8.1.1.2.1 UAE: Solid Fuel Market, By Fuel Type
8.1.1.2.1.1 UAE: Solid Fuel Market, By Petcoke/Flexicoke
8.1.1.2.1.2 UAE: Solid Fuel Market, By Metallurgical Coke
8.1.1.2.1.3 UAE: Solid Fuel Market, By Coal
8.1.1.3 South Africa: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
8.1.1.3.1 South Africa: Solid Fuel Market, By Fuel Type
8.1.1.3.1.1 South Africa: Solid Fuel Market, By Petcoke/Flexicoke
8.1.1.3.1.2 South Africa: Solid Fuel Market, By Metallurgical Coke
8.1.1.3.1.3 South Africa: Solid Fuel Market, By Coal
8.1.1.4 Rest of MEA: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
8.1.1.4.1 Rest of MEA: Solid Fuel Market, By Fuel Type
8.1.1.4.1.1 Rest of MEA: Solid Fuel Market, By Petcoke/Flexicoke
8.1.1.4.1.2 Rest of MEA: Solid Fuel Market, By Metallurgical Coke
8.1.1.4.1.3 Rest of MEA: Solid Fuel Market, By Coal
9. Industry Landscape
9.1 Overview
9.2 Market Initiative
9.3 Product Development
9.4 Mergers & Acquisitions
10. Company Profiles
10.1 Indian Oil Corp Ltd
10.1.1 Key Facts
10.1.2 Business Description
10.1.3 Products and Services
10.1.4 Financial Overview
10.1.5 SWOT Analysis
10.1.6 Key Developments
10.2 Essar Global Fund Ltd
10.2.1 Key Facts
10.2.2 Business Description
10.2.3 Products and Services
10.2.4 Financial Overview
10.2.5 SWOT Analysis
10.2.6 Key Developments
10.3 BP Plc
10.3.1 Key Facts
10.3.2 Business Description
10.3.3 Products and Services
10.3.4 Financial Overview
10.3.5 SWOT Analysis
10.3.6 Key Developments
10.4 Lukoil Oil Co
10.4.1 Key Facts
10.4.2 Business Description
10.4.3 Products and Services
10.4.4 Financial Overview
10.4.5 SWOT Analysis
10.4.6 Key Developments
11. Appendix
11.1 About The Insight Partners
11.2 Word Index
LIST OF TABLES
Table 1. Middle East & Africa Solid Fuel Market Revenue and Forecast to 2028 (US$ Million)
Table 2. Saudi Arabia: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)
Table 3. Saudi Arabia: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)
Table 4. Saudi Arabia: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)
Table 5. Saudi Arabia: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)
Table 6. UAE: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. UAE: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)
Table 8. UAE: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)
Table 9. UAE: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)
Table 10. South Africa: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)
Table 11. South Africa: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)
Table 12. South Africa: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)
Table 13. South Africa: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of MEA: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)
Table 15. Rest of MEA: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)
Table 16. Rest of MEA: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)
Table 17. Rest of MEA: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)
Table 18. List of Abbreviation
LIST OF FIGURES
Figure 1. Middle East & Africa Solid Fuel Market Segmentation
Figure 2. Middle East & Africa Solid Fuel Market Segmentation – By Country
Figure 3. Middle East & Africa Solid Fuel Market Overview
Figure 4. Middle East & Africa Solid Fuel Market, by Fuel Type
Figure 5. Middle East & Africa Solid Fuel Market, by Country
Figure 6. Middle East & Africa – PEST Analysis
Figure 7. Middle East & Africa Solid Fuel Market – Ecosystem Analysis
Figure 8. Middle East & Africa Solid Fuel Market: Impact Analysis of Drivers and Restraints
Figure 9. Middle East & Africa: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10. Middle East & Africa Solid Fuel Market Revenue Share, by Fuel Type (2021 and 2028)
Figure 11. Petcoke/Flexicoke: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. Cement: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Lime Kilns: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Gasification Units: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Industrial Boilers: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Anthracite: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Metallurgical Coke: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Iron & Steel: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Glass: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Others: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Coal: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Thermal: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Metallurgical: Middle East & Africa Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. MEA: Solid Fuel Market, by Key Country – Revenue (2021) (US$ Million)
Figure 25. MEA: Solid Fuel Market Revenue Share, by Key Country (2021 & 2028)
Figure 26. Saudi Arabia: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. UAE: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. South Africa: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Rest of MEA: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)
- Indian Oil Corp Ltd
- Essar Global Fund Ltd
- BP Plc
- Lukoil Oil Co
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Middle East & Africa solid fuel market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Middle East & Africa solid fuel market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the solid fuel market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution