Metallurgical Coke Market Forecast 2024-2033: Growth Rate, Drivers, And Trends|ArcelorMittal S.A., POSCO, Nippon Steel & Sumitomo Metal Corporation, Baosteel Group Corporation, CHINA SHENHUA ENERGY IMPORT & EXPORT Co LTD.,

The Metallurgical Coke Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Metallurgical Coke Global Market Report 2024, The metallurgical coke market size has grown steadily in recent years. It will grow from $194.29 billion in 2023 to $203.56 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to steel industry demand fluctuations, raw material availability and quality, economic cycles and industrial growth, market globalization and trade patterns, energy market dynamics.

The metallurgical coke market size is expected to see steady growth in the next few years. It will grow to $247.35 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to alternative production methods, carbon capture and storage (CCS), industry 4.0 integration, circular economy initiatives, renewable energy integration. Major trends in the forecast period include steel industry dynamics, environmental regulations, raw material availability, energy transition initiatives, demand from end-use industries.

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 tones (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.

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The metallurgical coke market covered in this report is segmented –

1) By Type: Blast Furnace Coke, Nut Coke, Foundry Coke, Pearl Coke, Breeze Coke, Buckwheat, Other Types
2) By Grade: ow Ash, High Ash
3) By Application: Iron and Steel Making, Sugar Processing, Glass Manufacturing, Other Applications
4) By End Users: Steel, Foundry Industry, Other End Users

Major companies operating in the metallurgical coke market are focusing on facility expansions, such as Nippon Steel Engineering Co. Ltd.’s construction of a coke dry quenching plant in east Japan, to better meet the needs of their existing consumers. Nippon Steel Engineering Co., Ltd. (NSE) was a key player in the construction of Coke Dry Quenching (CDQ) facilities, which are heat recovery systems used to cool hot coke from coke ovens. The CDQ system is well-known for its energy-saving and ecologically beneficial characteristics. For instance, in July 2022, Nippon Steel Engineering Co. Ltd., a Japan-based manufacturing company of steel products, announced the completion of coke dry quenching plant construction for JFE Steel Corporation, a Japan-based steel manufacturing company. The plant is designed to be ecologically friendly by limiting dust emissions throughout the coke conveying and cooling processes, making it ideal for urban steelwork.

The metallurgical coke market report table of contents includes:

1. Executive Summary
2. Metallurgical Coke Market     Characteristics
3. Metallurgical Coke Market     Trends And Strategies
4. Metallurgical Coke Market     – Macro Economic Scenario
5. Global      Metallurgical Coke Market     Size and Growth

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32. Global      Metallurgical Coke Market     Competitive Benchmarking
33. Global      Metallurgical Coke Market     Competitive Dashboard
34. Key Mergers And Acquisitions In      Metallurgical Coke Market
35. Metallurgical Coke Market     Future Outlook and Potential Analysis
36. Appendix

 

Top Major Players :

• ArcelorMittal S.A.
• POSCO
• Nippon Steel & Sumitomo Metal Corporation
• Baosteel Group Corporation
• CHINA SHENHUA ENERGY IMPORT & EXPORT Co LTD.

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