South America Solid Fuel Market

The South America solid fuel market was valued at US$ 22,791.09 million in 2022 and is projected to reach US$ 25,353.39 million by 2028; it is expected to grow at a CAGR of 1.8% from 2022 to 2028.  

Rising Demand for Petcoke is Driving the South America Solid Fuel Market

Industries across the world are demanding different energy sources. The cement, steel, and power industries are generating high demand for petroleum coke (petcoke). Petcoke is cheaper than overseas coal. Owing to rising urbanization and population, demand for construction and electricity generation is increasing at an exponential rate. Petcoke is used in manufacturing building materials and generating electricity. Power generation, cement, iron & steel, and other industries consume coal. Coal is a major fuel consumed across the world. Oil and other fuels would become expensive and scarcer in the coming years, whereas coal will dominate the market for the next 200 years. Thus, the presence of coal reserves in various countries across the world drives the solid fuel market growth.

South America Solid Fuel Market Overview  

As of 2021, Brazil had the largest coal reserves in South America, predicted at nearly 7.3 billion short tons. After Brazil, Colombia ranked second with approximately five billion tons in 2021, followed by Chile and Mexico with coal reserves amounting to ~1.3 billion tons each. Brazil is one of the region's leading coal producers, and most of the coal is directed into power generation. The coal produced in excess is exported to China; therefore, both countries are trade partners for the same. Brazil is stuck in an intense economic crisis. The state of Rio Grande do Sul is holding 90% of Brazil’s coal reserves. It is open to increase mining, develop a coal gasification center, and lock-in into a high-carbon energy infrastructure. China is investing in this gasification center. Since China leverages well-established technologies worldwide, the investment will provide new opportunities for the coal reserves from Rio Grande do Sul state.

Additionally, the region has a large number of operating refineries, which will further promote the use of solid fuels. Countries in the region such as Argentina, Aruba, Brazil, Bolivia, Chile, Costa Rica, Ecuador, El Salvador, Peru, Venezuela, and Colombia have the presence of operating refineries. However, the region is emphasizing on foreign direct investments to facilitate regional development to supply green energy through sea or land and use it leverage re-industrialization process. Colombia is planning to shift from coal-based energy investment plans to clean energy production. Such initiatives are projected to hamper coal usage in countries in South America.

South America 

Solid Fuel

Market Revenue and Forecast to 2028 (US$ Million)

South America Solid Fuel Strategic Insights

Strategic insights for the South America Solid Fuel provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South America Solid Fuel Report Scope

South America Solid Fuel Regional Insights

The geographic scope of the South America Solid Fuel refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

South America Solid Fuel Market Segmentation

The South America solid fuel market is segmented into fuel type, and country.

Based on fuel type, South America 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 South America solid fuel market is segmented into Brazil, Argentina, and the Rest of South America. Brazil dominated the market in 2022.

Indian Oil Corp Ltd; Essar Global Fund Ltd; BP Plc; and Valero Energy Corp are the leading companies operating in the South America solid fuel market.