Metallurgical Coke Market Size

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.