Rockville , Feb. 14, 2024 (GLOBE NEWSWIRE) -- The global metallurgical coke market, estimated at US$ 218.4 billion for 2024, is projected to advance at a CAGR of 3.8% from 2024 to 2034. Increased adoption of metallurgical coke across various sectors, including iron and steel processing and glass manufacturing, is a key factor driving market growth.
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Metallurgical coke plays an important role in the iron and steel manufacturing industry as a basic raw material. The growing global demand for crude steel is anticipated to significantly boost the metallurgical coke market trends. This trend is expected to lead to a heightened utilization of synthetic graphite in metallurgical applications. Consequently, the market for metallurgical coke is predicted to experience consistent growth over the coming years.
As an integral component, metallurgical coke, also referred to as coking coal, is combined with iron ore and limestone in the pulverized coal injection process, essential for transforming iron ore into metallic iron. The steel industry's rapid expansion has escalated the demand for metallurgical coke, thereby driving market growth.
The booming glass industry is set to further augment global demand for metallurgical coke. Nonetheless, the presence of alternative coking materials, such as bituminous coal and anthracite, could present significant challenges to the coking coal industry during the projected period.
| Report Attribute | Details |
| Value Projection (2034) | US$ 325.78 Billion |
| Growth Rate (2024-2034) | 3.8% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 84 Tables |
| No. of Figures | 124 Figures |
Key Takeaways from Market Study
- The global metallurgical coke market is estimated at US$ 218.4 billion in 2024.
- Demand for metallurgical coke is predicted to rise at a CAGR of 3.8% from 2024 to 2034.
- The market is forecasted to reach US$ 325.78 billion by 2034-end.
- The market in East Asia is projected to rise at a CAGR of 5% through 2034.
- The non-ferrous metal casting segment is forecasted to expand at a CAGR of 3.7% through 2034.
- North America is estimated to account for 25.8% share of the global market in 2024.
“Metallurgical coke is an essential component of the steel industry. Also known as metcoke, it is produced by heating coal in the absence of air to remove impurities, resulting in a product used as a fuel and reducing agent in the production of steel through the blast furnace process,” says a Fact.MR analyst.
Key Companies Profiled in This Report
- OKK Koksovny, a.s.
- ECL
- SunCoke Energy Inc.
- Mechel
- Hickman Williams & Company
- Baosteel Group
- ArcelorMittal
Environmental Concerns Driving Innovation and Shift toward Synthetic Graphite
With an increasing focus on sustainability, there is a push for cleaner and more efficient production methods for metallurgical coke. Technologies aiming to reduce emissions and improve energy efficiency are gaining traction.
Growing demand for synthetic graphite in metallurgical applications as a substitute for traditional coke due to its properties and versatility in steel production processes. The surge in infrastructure projects and urbanization in developing regions is bolstering the demand for steel, consequently driving sales of metallurgical coke.
Market Competition
Strategic collaborations have become a prominent trend in the metallurgical coke market. Leading companies within this sector are increasingly forging partnerships to foster the growth of the metallurgical coke market.
- For instance, in November 2021, ArcelorMittal, a Luxembourg-based producer of commercial coke for the ferroalloy industry, entered into a partnership with Orange Business Services, an India-based service provider, and Ericsson, a telecommunications company headquartered in Sweden.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the metallurgical coke market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on ash content (low, high), product (blast furnace coke, foundry coke, technical coke), and end use (iron & steel productions, non-ferrous metal casting, chemical industry), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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Carbon and Graphite Market: The global carbon and graphite market is anticipated to expand at a CAGR of 5.9%, rising from its current value of US$ 18 billion to US$ 32 billion by the end of 2033.
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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