Metallurgical Coke Market is forecast to reach US$ 241.1 Bn by the end of 2027

Metallurgical coke, also known as coke/met coke, is a carbonaceous material manufactured by the destructive distillation of high carbon content coal, such as bituminous coal, in high temperature ovens in the absence of air. Metallurgical coke is a basic raw material used for the production of pig iron and steel. Metallurgical coke is categorized into three categories based on size and ash content: blast furnace coke, foundry coke and technical coke. The global Metallurgical Coke market is estimated to be valued at US$ 186.0 Bn by 2018 end and is expected to reach US$ 241.1 Bn by 2027 end expanding at a CAGR of 2.9% over the forecast period. The global Metallurgical Coke market is projected to create significant growth opportunity during the forecast period.

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Factors Driving Growth of the Global Metallurgical Coke Market

Metallurgical coke is primarily used as a raw material for the production of iron and steel. Metallurgical coke is used for the production of almost 70% of metallurgical coke. Hence, market trends across the steel industry directly reflect on the metallurgical coke market. The growth of the construction and automotive industries are the prominent demand drivers for iron & steel. The construction sector is one of the biggest consumers of steel products, accounting for more than half of the steel demand globally. The construction industry has witnessed significant growth over the past few years and is expected to follow the same trend over the forecast period. This, in turn, is anticipated to push the growth of the global Metallurgical Coke market during the forecast period. Government led initiatives for economic diversification and increasing investments for infrastructural development are also expected to facilitate the growth in demand for steel. This, in turn, is going to create healthy growth opportunities for the metallurgical coke manufacturers. The metallurgical coke market in developing countries, such as India, China, Brazil and ASEAN countries, is anticipated to be driven by the growing construction industry. Moreover, increasing infrastructural investments for projects, such as construction of light rail corridors, office buildings and shopping centers, among others in the U.S., are expected to further fuel the demand for metallurgical coke.

Another key factor significantly driving the growth of metallurgical coke is increasing production and demand for automobiles. According to the World Steel Association, the automotive sector accounted for around 12% of the global steel consumption. Steel is used is the manufacturing of vehicle body structures, drive trains, cast iron for engine blocks, suspensions, fuel tanks, steering, breaking systems and various other components. Thus, any growth is automotive production, significantly drives steel demand, which in turn, translates into the growth of the metallurgical coke market.

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One of the key trends observed across the global metallurgical coke market universe is increasing investments to improve productivity and overall efficiency of coking ovens. Furthermore, growing environmental concerns and stringent regulations are driving metallurgical coke manufacturers to upgrade and reconstruct their production plants.

Global Metallurgical Coke Market Segmentation and Forecast

The global Metallurgical Coke market can be segmented on the basis of product type, ash content, end use and region. Based on product type, the global metallurgical coke market can be categorized into blast furnace coke, foundry coke and technical coke. On the basis of ash content, the Metallurgical Coke market can be categorized into low ash content and high ash content. On the basis of end use, the market is segmented into iron & steel production, non-ferrous metal casting, chemical industry and others. Based on regions, the Metallurgical Coke report discusses North America, Latin America, Europe, Asia Pacific Excl. China, Middle East & Africa and China.

By region, the China metallurgical coke market is anticipated to account for more than half of the volume share in the global Metallurgical Coke market. Demand for metallurgical coke is increasing owing to the presence of a large number of steel manufacturing plants and growing automotive production in the region. The Asia Pacific Excl. China (APEC) region is expected to be an opportunistic market during the forecast period. The metallurgical coke market in APEC region is projected to grow at a CAGR of 4.6% during the forecast period. India and ASEAN countries are expected to push the growth of the metallurgical coke market, while Japan and South Korea are expected to witness relatively stagnant growth during the forecast period. The Europe Metallurgical Coke market is estimated to account for about one-sixth of the market volume share in the global Metallurgical Coke market. The demand for metallurgical coke in North America is expected to experience healthy growth in near future. The growth of the market is being driven by the protectionism policies being adopted by the U.S. government and implementation of antidumping duties on steel imports across the U.S.

Metallurgical Coke Market – Competitive Landscape

The global Metallurgical Coke market is moderately fragmented, with the top 8 players in the market collectively holding about 50% - 55% of the global Metallurgical Coke market. Some of the key competitors covered in this Metallurgical Coke report include OKK Koksovny, a.s., SunCoke Energy Inc., Ennore Coke Limited, Hickman, Williams & Company, MECHEL PAO, Sino Hua-An International Berhad and Drummond Company, Inc.

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