Analysis of the Value Added of Coke and Refined Petroleum Products in the US reveals a notable fluctuation over the period from 2013 to 2023. Specifically, the sector saw substantial declines in 2015 and 2016, followed by a marked recovery and growth trend through 2018. By 2023, the value stood at $177.94 billion USD. Year-on-year growth rates have shown variability, with significant increases in certain years countered by declines in others. From 2019 to 2023, there was relatively stable growth, culminating in a 2.27% increase in 2023. Over the last five years, the average annual growth rate was 0.27%.
Looking forward, forecasted data for 2024-2028 indicates moderate growth, with a forecasted 5-year CAGR of 1.57%, resulting in a projected value of $196.58 billion USD by 2028. This suggests a period of relative stability and gradual increase in value, although at a slower growth rate compared to the recent recovery phase.
Future trends to watch for include shifts in global oil prices, regulatory changes in environmental policies, and advancements in alternative energy sources. These factors could significantly impact the value added of coke and refined petroleum products in the coming years.
