DUBLIN, Feb. 20, 2023 /PRNewswire/ — The “Metallurgical Coke Global Market Report 2022” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global metallurgical coke market.
The global metallurgical coke market is expected to grow from $170.44 billion in 2021 to $182.86 billion in 2022 at a compound annual growth rate (CAGR) of 7.3%. The metallurgical coke market is expected to grow to $212.51 billion in 2026 at a CAGR of 3.8%.
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Major players in the metallurgical coke market are Hickman Williams & Company, OKK Koksovny, SunCoke Energy, ECL, Mechel, China Risun Coal Chemicals Group Limited, ArcelorMittal, Jiangsu Surun High Carbon Co Ltd, Nippon Steel & Sumitomo Metal, Haldia Coke, GNCL, Baosteel Group, Shanxi Sunlight Coking Group Company Ltd., Taiyuan Coal Gasification (Group) Co. Ltd, and Shanxi Lubao Coking Group Co. Ltd.
The metallurgical coke market consists of sales of metallurgical coke by entities (organizations, sole traders, and partnerships) that are used in iron and steel industry processes such as sinter plants, foundries, and blast furnaces to reduce iron ore to iron. Metallurgical coke is produced by the destructive distillation of coal in coke ovens. The prepared coal is heated in an oxygen-free atmosphere until all volatile components in the coal evaporate.
The main types of metallurgical coke are blast furnace coke, nut coke, foundry coke, pearl coke, breeze coke, buckwheat, and others. Blast furnace coke is a hard carbon material produced in the process of the destructive distillation of various blends of bituminous coal. It is an important raw material for pig iron production in the blast furnace. The different types of grades include low ash and high ash, which are used in numerous applications such as iron and steel making, sugar processing, glass manufacturing, and others. It is employed in several sectors, including steel, the foundry industry, and others.
Asia Pacific was the largest region in the metallurgical coke market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the metallurgical coke market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rapid growth in the steel industry is expected to propel the growth of the metallurgical coke market going forward. The steel industry refers to the business of processing iron ore into steel, which is an iron-carbon alloy, and in some cases, turning that metal into partially finished products or recycling scrap metal into steel. The metallurgical coke is helpful in iron ore and limestone for making molten iron, which is then further treated and heated to make steel.
For instance, according to the India Brand Equity Foundation (IBEF), an India-based government promotion agency, in 2021 the production of crude steel and finished steel stood at 102.49 metric tonnes (MT) and 94.66 MT, respectively.
Additionally, the government is expected to fix the objective of increasing rural consumption of steel from the current 19.6 kg/per capita to 38 kg/per capita by 2030-31. Moreover, according to the Worldsteel Association, a Belgium-based association, the steel demand in the European Union is expected to reach 167.4 Mt in 2022. Therefore, rapid growth in the steel industry is driving the growth of the metallurgical coke market.
Strategic partnerships have emerged as a key trend gaining popularity in the metallurgical coke market. Major companies operating in metallurgical coke sector are undergoing partnerships for developing the metallurgical coke market.
For instance, in November 2021, ArcelorMittal, a Luxembourg-based commercial coke producer for the ferroalloy industry partnered with Orange Business Services, an India-based service provider, and Ericsson, a Sweden-based telecommunications company.
Through this partnership, these companies launched 5G Steel to test 4G/5G connectivity at ArcelorMittal’s industrial sites in France over the next three years. Further in July 2019, Arabian Cement Company, a Saudi Arabia-based cement company, partnered with Egyptian Refining Company, an Egypt-based provider of refined petroleum products. This partnership allows supplying local petroleum coke (pet coke) to Arabian Cement Company with an annual volume of tons as of July 2019.
The countries covered in the metallurgical coke market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Key Topics Covered:
1. Executive Summary
2. Metallurgical Coke Market Characteristics
3. Metallurgical Coke Market Trends And Strategies
4. Impact Of COVID-19 On Metallurgical Coke
5. Metallurgical Coke Market Size And Growth
5.1. Global Metallurgical Coke Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Metallurgical Coke Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Metallurgical Coke Market Segmentation
6.1. Global Metallurgical Coke Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Blast Furnace Coke
- Nut Coke
- Foundry Coke
- Pearl Coke
- Breeze Coke
- Buckwheat
- Other Types
6.2. Global Metallurgical Coke Market, Segmentation By Grade, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.3. Global Metallurgical Coke Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Iron and Steel Making
- Sugar Processing
- Glass Manufacturing
- Others Applications
6.4. Global Metallurgical Coke Market, Segmentation By End Users, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Steel
- Foundry Industry
- Other End Users
7. Metallurgical Coke Market Regional And Country Analysis
7.1. Global Metallurgical Coke Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Metallurgical Coke Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/kn1qxl
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