Overview and Scope
Metallurgical coal, also referred to as coking coal, is a naturally occurring sedimentary rock found in the earth’s crust. It is used to produce coke, the primary carbon source in steel manufacturing.
Sizing and Forecast
The metallurgical coal market size has grown steadily in recent years. It will grow from $14.7 billion in 2023 to $15.18 billion in 2024 at a compound annual growth rate (CAGR) of 3.2%. The growth in the historic period can be attributed to steel production and industrial growth, global economic trends, infrastructure development, supply chain and trade dynamics, environmental and regulatory factors..
The metallurgical coal market size is expected to see steady growth in the next few years. It will grow to $17.03 billion in 2028 at a compound annual growth rate (CAGR) of 2.9%. The growth in the forecast period can be attributed to energy transition and alternatives, investments in mining infrastructure, environmental regulations and sustainability, supply chain dynamics and trade patterns, infrastructure development and urbanization.. Major trends in the forecast period include demand from steel industry, technological advancements in steelmaking, economic growth and industrialization, global trade and supply chain dynamics, environmental regulations and sustainability efforts..
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The metallurgical coal market covered in this report is segmented –
1) By Type: Hard Coking Coal(HCC), Medium Coking Coal, Semi-Soft Coking Coal(SSCC), Pulverized Coking Injection (PCI) Coal
2) By Application: Steelmaking, Non-Steelmaking
3) By End-User: Iron And Steel, Chemical And Pharmaceutical, Paper And Pulp, Other End-Users
Asia-Pacific was the largest region in the metallurgical coal market in 2023. The regions covered in the metallurgical coal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increased demand for steel is expected to propel the growth of the metallurgical coal market going forward. Steel is a robust and durable metal made of iron alloyed with different amounts of carbon and frequently with other metals, such as nickel, chromium, and manganese, to give properties such as hardness and resistance to rusting. Metallurgical coal is the primary carbon source used in steel production, also known as coking coal. Coking coal is essential in steel-making because it provides the heat needed to melt the ore and removes oxygen from the iron ore during combustion, leaving just the pure metal. Steel demand is rising as infrastructure develops in the automotive industry for the production of vehicles such as cars and trucks, as well as manufacturing and industrial production for industrial uses. For Instance, in November 2021, according to World Steel Association, the steel demand will increase by 0.4% to 1,840.2 Mt in 2022 and will increase by 2.2% in 2023 to 1,881.4 Mt, and world crude steel production increased from 1,879 million tons in 2020 to 1,951 million tons in 2021. Therefore, the increased demand for steel is driving the growth of metallurgical coal.
Key Industry Players
Major companies operating in the metallurgical coal market report are Coal India Ltd., Anglo American Plc, Arch Coal Inc., Bharat Coking Coal Ltd., BHP Group plc, China Coal Energy Co Ltd., China Shenhua Energy Co Ltd., Coronado Global Resources Inc., Glencore Plc, Teck Resources Ltd., Vale SA, Raspadskaya, Alpha Natural Resources, SHANXI COKING COAL GROUP, Datong Coal Industry Company Limited, Peabody Energy Inc., Whitehaven Coal Ltd., Rio Tinto, Washington H. Soul Pattinson, Alliance Resource Partners LP, Warrior Met Coal Inc., Westmoreland Mining Holdings LLC, Foresight Energy Labor LLC, Prairie State Energy Campus, Hallador Energy Company, Armstrong Energy Inc., Beacon Coal Inc., Bluefield Coal Corporation, Cloud Peak Energy Inc., Consol Energy Inc., Drummond Company Inc., Excel Mining Systems Ltd., General American Coal Company, Hobet Mining LLC, International Coal Group Inc., Kopper-Gloster Coal Company, Liberty Steel Group N.V., Metinvest B.V., Mountaintop Mining Corporation, Murray Energy Corporation
The metallurgical coal market report table of contents includes:
1. Executive Summary
2. Metallurgical Coal Characteristics
3. Metallurgical Coal Trends And Strategies
4. Metallurgical Coal – Macro Economic Scenario
5. Global Metallurgical Coal Size and Growth
…..
32. Global Metallurgical Coal Competitive Benchmarking
33. Global Metallurgical Coal Competitive Dashboard
34. Key Mergers And Acquisitions In The Metallurgical Coal
35. Metallurgical Coal Future Outlook and Potential Analysis
36. Appendix
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