Metallurgical Coke Market Size & Share, by Ash Content (Low Ash Content, High Ash Content); Application (Iron and Steel Making, Sugar Processing, Glass Manufacturing, Non-Ferrous Metal Casting, Chemical Industry); Product Type (Blast Furnace Coke, Foundry Coke, Technical Coke) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5422
  • Published Date: Nov 30, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Metallurgical Coke Market size is poised to reach USD 335 Billion by the end of 2036, growing at a CAGR of 4% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of Metallurgical Coke was USD 222 Billion. The reason behind the growth is due to the mounting capacity of steel production across the globe. Metallurgical coke is a type of coal that is used in the production of steel. For instance, over 2 billion tonnes of iron ore, 1 billion tonnes of metallurgical coal, and 650 million tonnes (Mt) of recycled steel were utilized by the global steel industry in 2021 to manufacture more than 1 billion tonnes of crude steel.

The growing advancements in more eco-friendly coke production methods are believed to fuel the metallurgical coke market growth. Businesses are investing in environmentally friendly coke production techniques, to provide effective use of coal as a domestic fuel, and partially replace imported coking coal with less expensive domestic alternative materials.


Metallurgical Coke Market
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Metallurgical Coke Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~4%

Base Year Market Size (2023)

~ USD 222 Billion

Forecast Year Market Size (2036)

~ USD 335 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Metallurgical Coke Market: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Rising Usage of Steel in Automotives - Stainless steel is the most resilient metal, many varieties of steel rank among the most vital raw materials used in the automobile sector to make vehicle bodies, doors, panels, and many more as it offers automobiles the desired levels of strength and safety at a comparatively low cost.
  • Growing Usage in the Smelting Process- Metallurgical coke is meant to be hailed as a breakthrough in the smelting sector as it reduces metal oxides to their elemental forms during smelting operations, which makes it perfect for smelting steel and iron.
  • Expanding Applications as a Fuel- Low ash metallurgical coke is used as a main fuel in a number of sectors, such as ferroalloy facilities as it helps in assessing the reductant quality and is necessary for the production of ferroalloys.

Challenges

  • High Competition from Alternative Materials in the Steelmaking Sector- Agricultural waste is a valuable resource since it can be turned into carbon material that can be used as a substitute for coke in steelmaking applications owing to its environmental friendliness and low greenhouse gas (GHG) emissions. This may impact the demand for metallurgical coke a substance that comes from fossil fuels as numerous studies have looked into finding a possible substitute-reducing agent to replace the supply of coke, given the environmental concerns since it is the primary cause of CO2 emissions in steel mills.
  • Stringent Environmental Regulations as the Production of Coke Results in Emissions of Pollutants-
  • Fluctuating Prices of Raw Materials such as Coking Coal which can impact the overall Cost of Production


Metallurgical Coke Segmentation

Application (Iron and Steel Making, Sugar Processing, Glass Manufacturing, Non-Ferrous Metal Casting, Chemical Industry)

The iron and steel-making segment is estimated to hold 40% share of the global metallurgical coke market by 2036 impelled by growing production of steel. For instance, steel consumption is expected to rise by over 15% by 2050 compared to current levels as it is widely used in the manufacturing of industrial equipment owing to its unique physical and mechanical characteristics. Moreover, it is utilized in machinery, electrical appliances, furniture, ships, trains, automobiles, bicycles, structures, infrastructure, tools, and weapons and is found in everything including cars, building supplies, washing machines, refrigerators, cargo ships, and surgical scalpels. This has significantly driven the demand for metallurgical coke as over 65% of the steel produced worldwide comes from the burning of coal.

The most expensive and important raw material used by the steel industry is metallurgical coke which is an ancient carbon substance used to melt iron ore. Moreover, metallurgical coal is a porous, carbon-rich substance that is used to manufacture coke, which is a necessary reactant and fuel in the blast furnace process for basic steelmaking.

According to estimates, the global production of steel has increased from around 185 million metric tons to an astounding 1,880 million metric tons in 2022.

Product Type (Blast Furnace Coke, Foundry Coke, Technical Coke)

Metallurgical coke market from the blast furnace coke segment is set to garner a notable share. The majority of pig iron made today comes from blast furnaces, which use a cold blast that requires coke, limestone, and carbon that is reduced at a high temperature then they are charged into the furnace from the top and moved downward.

Metallurgical coke is utilized in the blast furnace method of producing iron as a reducing agent made from coke that combines with oxygen at the bottom of the blast furnace.

Our in-depth analysis of the global metallurgical coke market includes the following segments:

          Ash Content

  • Low Ash Content
  • High Ash Content

          Application

  • Iron and Steel Making
  •  Sugar Processing
  • Glass Manufacturing
  • Non-Ferrous Metal Casting
  •  Chemical Industry

          Product Type

  • Blast Furnace Coke
  •  Foundry Coke
  • Technical Coke
 

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Metallurgical Coke Industry - Regional Synopsis

APAC Market Forecast

Metallurgical coke market in Asia Pacific is predicted to account for the largest share of 52% by 2036 impelled by the enormous production of metallurgical coke. China is a global leader in the production of metallurgical coke as over 60% of the world's metallurgical coke was produced in the country. Besides this, more than 8 million tons of cargo were registered in 2022, and around 5 million metric tons of metallurgical coke were exported from China in 2023 making it to be the leading seaborne exporter of the product. For instance, China's metallurgical coke production increased by over 3% annually to more than 477 million tons in 2021.

European Market Statistics

The Europe metallurgical coke market is estimated to be the second largest, during the forecast timeframe led by an increasing focus on sustainability. The European Union has pledged to pursue long-term, ambitious environmental and climate goals as sustainability is now a requirement for any future economic model. This has led to an increase in the demand for green products such as wind turbines and electric cars, which both require steel which is frequently produced from coking coal in the region.

Research Nester
Metallurgical Coke Market Size
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Companies Dominating the Metallurgical Coke Market

top-features-companies
    • SunCoke Energy Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Ennore Coke Limited
    • Williams & Company
    • China Risun Coal Chemicals Group Limited
    • China Shenhua Energy Company Limited
    • ArcelorMittal
    • Drummond Company, Inc.
    • Jiangsu Surun High Carbon Co., Ltd.
    • Tata Steel Ltd
    • Nippon Steel & Sumitomo Metal
    • Shanxi Lubao Coking Group Co. Ltd.
    • Musashi Seimitsu Industries

In-the-news

In The News

  • China Risun Coal Chemicals Group Limited collaborated with Shandong Juye Wanshan Weiye Chemical Co., Ltd. to give its crude benzene plant operation management services and which also allowed to acquire six Hongye Chemicals Enterprises and set up production bases, to grow its business in Shandong.
  • Tata Steel Ltd collaborated with A&B Global Mining to provide mine technical services and provide the world's mining industry with competitive integrated business solutions by utilizing one another's technological and strategic advantages, which includes the steel value chain.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5422
  • Published Date: Nov 30, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising capacity of steel production across the globe and the growing advancements in more eco-friendly coke production methods are the major factors driving the growth of the market.

The market size of Metallurgical Coke is anticipated to attain a CAGR of 4% over the forecast period, i.e., 2024-2036.

The major players in the market are Ennore Coke Limited, Williams & Company, China Risun Coal Chemicals Group Limited, China Shenhua Energy Company Limited, ArcelorMittal, Drummond Company, Inc., Jiangsu Surun High Carbon Co., Ltd., Nippon Steel & Sumitomo Metal, Shanxi Lubao Coking Group Co. Ltd. and others.

The iron and steel-making segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Metallurgical Coke Market Report Scope
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