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 account for a 40% share of the global metallurgical coke market by 2037 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, electrical appliances, furniture, ships, trains, automobiles, bicycles, structures, infrastructure, tools, and military weapons. This has significantly driven the demand for metallurgical coke as over 65% of the steel produced worldwide comes from the burning of coal. 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:
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