Metallurgical coke is a primary raw material necessary for steel and iron production. Hence, iron and steel industry market trends directly impact the market for metallurgical coke. Increasing demand for crude steel worldwide is projected to drive the expansion of the metallurgical coke market. This will result in increased use of synthetic graphite for metallurgical uses. The metallurgical coke market is projected to maintain a steady growth rate over the next ten years. Metallurgical coke is divided into three basic categories: ash size and content. These include technical coke and foundry coke, and blast furnace coke.
Global Metallurgical Coke market is expected to witness CAGR of -3.48% during the forecast period. The revenue generated by the global Metallurgical Coke market in 2021 was over USD 12,360 million and expected to generate revenue worth USD 96,310 million in 2028. The incremental growth opportunity offered by the global Metallurgical Coke is estimated to be USD 751.64 billion between 2022 and 2028.
Interesting Facts about Metallurgical Coke Industry
Metallurgical coke is composed of low ash and sulphur bituminous coal
Over 600 million tons of Metallurgical Coke is produced every year
Canada, U.S. and Australia dominate the production of metallurgical coke
Metallurgical coke is most essential aspect of steel making process
Higher density and strength of metallurgical coke is important for blast furnace application
Blast Furnace Coke to Dominate the Demand for Metallurgical Coke
Blast Furnace Coke, Nut Coke, Buckwheat Coke, Coke Breeze and Coke Dust are some of the major types of Metallurgical Coke. Blast Furnace Coke is leading types of Metallurgical Coke and accounted for over 35% share in 2021. Blast Furnace Coke is widely used in steel & iron industry along with other metallurgical applications.
Strong Demand from Iron & Steel Industry
Metallurgical coke is also referred to simply as coke. It is a carbonaceous substance that is made by the distillation of coal, for example, bituminous coal at high temperatures without air. Due to its desirable properties, metallurgical coke is a primary raw ingredient in the manufacture of steel and iron. Metallurgical coke is a key raw material used in the manufacture of steel and iron. Hence, the iron and steel making industry dominates the metallurgical coke market and is projected to drive its growth. The Asia Pacific region was the world leader in the demand for coke. There is increasing demand from China as well as other Asian countries.
Sluggish Demand from Aluminium Industry
The slowdown that the aluminium industry is facing will hamper the growth of the metallurgical coke market. The metallurgical industry’s trends are expected to directly impact the market for metallurgical coke. As with all other industries, the metallurgical coke market experienced a slowdown due to covid-19. However, the condition is slowly improving, and the metallurgical coke market is expected to make a recovery during the months that will follow.
China to Rule the Demand for Metallurgical Coke
China continues to dominate the Asia Pacific region as well as the rest of the world in demand for metallurgical coke. Annual coke production and demand are increasing in China at a steady rate. The local demand for iron and steel in China will continue to expand due to increasing construction projects as well as increased vehicle production by the automotive sector. This will positively affect the metallurgical coke market over the next few years. The metallurgical coke market is expected to undergo a steady increase during the next ten years.
Wide Ranging Applications
Steel, Foundry Industry and Other are some of the major application markets for the global Metallurgical Coke market. Besides the automotive, steel, and iron industries, the construction sector is also responsible for the growth of the metallurgical coke industry since it is a major user of steel products. In fact, the construction industry accounts for more than half the world’s iron and steel production. The construction industry has grown at a steady rate over the years, and this is expected to drive the expansion of the metallurgical coke market. The construction industry is projected to follow a similar trend over the next demand. Hence, this will increase the demand for metallurgical coke.
ABC Coke, Ansteel, ArcelorMittal, Baosteel, BlueScope, Gujarat NRE Coke, Haldia Coke, Hickman, Williams & Company, Jiangxi BLACKCAT Carbon Black, JSW Group, Lubao-Group, Mid-Continent Coal and Coke Company, Nippon Steel & Sumitomo Metal, POSCO, Risun, Shanxi Coking Coal, SunCoke Energy, Sunlight Coking, Taiyuan Coal Gasfication, Tata Steel, United States Steel and Wisco are some of the major players operating in the global Metallurgical Coke market.
Frequently asked questions about global Metallurgical Coke industry
Likewise other industries, COVID 19 also taken a toll on Metallurgical Coke market with around 9.56% decline in its revenue in 2020 as compare to 2019
Asia Pacific is the largest regional market with highest share in the total volume of Metallurgical Coke consumed in 2021
Strong growth of steel & iron industry and growing foundry market across the world is leading the demand for Metallurgical Coke
Blast Furnace Coke segment dominated the Metallurgical Coke market in 2021 with over 35% share
Steel & Iron segment was the largest application of Metallurgical Coke in 2021 with over 40% share
Market Size Valuation, Share Analysis and Growth Rate by Segments such as Type and Application, Company Share, Competitive Landscape and Trends Analysis
Region al scope
North America (U.S., Canada and Mexico), Europe (Russia, Spain, Italy, Germany, France, UK, Poland, Belgium, Netherland, Sweden, Denmark, Austria, etc.), Asia Pacific (India, South Korea, China, Japan, Taiwan, Singapore, Vietnam, Thailand, Indonesia, Malaysia, Australia, etc.), Latin America (Peru, Chile, Colombia, Brazil, Argentina, etc.), Middle East (KSA, UAE, Israel, etc.) & Africa (Egypt, Nigeria, South Africa, East African Community, etc.)
