Growing demand for electricity Drives Coal Market :2024

Coal Market: Overview

Coal has played a crucial role in industrialization since time immemorial. It has been the key factor in shaping economies across the globe and determining the pace of development for several nations. The monumental amount of coal consumed by the world is used in a wide range of applications such as the production of steel, iron, power, and several manufacturing and transportation industries. The demand for coal is presently caught in the crossfire of growing pollution levels and the increasing attractiveness of the renewable sources of energy.

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The research report on the global coal market includes a fair assessment of the overall market and the key market dynamics. The report includes a SWOT analysis to determine the strengths, weaknesses, opportunities, and threats influencing the segments of the coal market. On the other hand, the analysts have also scrutinized the intensity of the competitive rivalry and the bargaining power of consumers and suppliers through Porter’s five forces analysis. The comprehensive document includes evaluation of all the key factors that are poised to shape the trajectory of the global coal market in the coming years.

Coal Market: Trends and Opportunities

Though the debate over usage of coal is a heated one, it is still an important raw material for the production of energy. About 35% of the world’s electricity is produced by utilizing coal. Analysts state that this percentage will continue to rise in the coming years as well. Besides electricity, coal is also extensively used in the industrial sector. Thus, the uptake of coal in the coming years is expected to remain steady. The research report observes that the coal supplies are spread over innumerable areas across the globe. This has eliminated the issue of dependency on a specific region. Furthermore, it has also opened up opportunities for several nations in the international markets.

The growing demand for electricity from several developing countries and the fast pace of industrialization in these nations are the key growth drivers for the global coal market. The exponential rise in the global population is expected to create several lucrative opportunities for the overall market in the coming years. The only restraint in the global market is the high cost of coal extraction, which is likely to hamper the market’s growth in the near future.

Coal Market: Region-wise Outlook

According to the report, the coal market is witnessing an increase in the production as Asia Pacific is showing an active participation. The major coal-producing nations in the world are Australia, China, South Africa, India, and the U.S. However, the majority of coal produced by these countries is used by the nations themselves, while marginal quantities of coal traded in the international markets. Presently, Asia Pacific consumes about 50% of the total coal produced globally. Several countries in Asia Pacific such as Korea, China, and Japan lack energy resources and are thus importing natural energy resources to meet their needs.

Australia is known to be the leading exporter of coal across the globe. The country exports about 200 mt of hard coal from its entire production every year. Thus, is an important commodity in Australia. Analysts predict that China, the U.S., and Canada are expected to significant exporters of coal in the coming years.

Key Players Mentioned in the Report are:

Some of the important players identified in the global coal market are Anglo Pacific Group plc. Coal India Ltd., Pacific Coal Resources Ltd., China Shenhua Energy, Rio Tinto, Blackham Resources Limited, BHP Billiton Ltd., Altona Energy Plc, SouthGobi Resources Limited, and Melior Resources Inc.

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