Metallurgical Coal Global Market Report 2023
Major players in the metallurgical coal market are Coal India Ltd., Anglo American Plc, Arch Coal Inc., Bharat Coking Coal Ltd., BHP Group plc, China Coal Energy Co. Ltd., China Shenhua Energy Co. Ltd.
New York, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Metallurgical Coal Global Market Report 2023" - https://www.reportlinker.com/p06479947/?utm_source=GNW
, Coronado Global Resources Inc., Glencore Plc, Teck Resources Ltd., Vale SA, Raspadskaya, Alpha Natural Resources, SHANXI COKING COAL GROUP, Datong Coal Industry Company Limited, PeabodyEnergyCorp, and Whitehaven Coal Ltd.
The global metallurgical coal market is expected to grow from $14.15 billion in 2022 to $14.70 billion in 2023 at a compound annual growth rate (CAGR) of 3.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The metallurgical coal market is expected to reach $16.39 billion in 2027 at a CAGR of 2.7%.
The metallurgical coal market consists of sales of steam coal and anthracite coal.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Metallurgical coal, also referred to as coking coal, is a naturally occurring sedimentary rock found in the earth’s crust. It is used to produce coke, the primary carbon source in steel manufacture.
Asia-Pacific was the largest region in the metallurgical coal market in 2022. The regions covered in the metallurgical coal report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main metallurgical coal types are hard coking coal(hcc), medium coking coal, semi-soft coking coal(sscc), and pulverized coking injection (pci) coal.Hard coking coal refers to a specific kind of metallurgical coal that is required for the manufacturing of strong coke and is distinguished by having a high carbon content, little ash, and a high energy value.
The various applications are steelmaking, and non-steelmaking used in iron and steel, chemical and pharmaceutical, paper and pulp, and others.
The increased demand for steel is expected to propel the growth of the metallurgical coal market going forward.Steel is a robust and durable metal made of iron alloyed with different amounts of carbon and frequently with other metals, such as nickel, chromium, and manganese, to give properties like hardness and resistance to rusting.
Metallurgical coal is the primary carbon source used in steel production, also known as coking coal.Coking coal is essential in steel-making because it provides the heat needed to melt the ore and removes oxygen from the iron ore during combustion, leaving just the pure metal.
Steel demand is rising as infrastructure develops in the automotive industry for the production of vehicles such as cars and trucks, as well as manufacturing and industrial production for industrial uses. For Instance, in November 2021, according to World Steel Association, the steel demand will increase by 0.4% to 1840.2 Mt in 2022 and will increase by 2.2% in 2023 to 1 881.4 Mt, and world crude steel production increased from 1879 million tons in 2020 to 1951 million tons in 2021. Therefore, the increased demand for steel is driving the growth of metallurgical coal.
Technological advancements such as 3D Mine visualizers are a key trend gaining popularity in the metallurgical coal market. Major market players are concentrating their efforts on creating innovative technologies such as 3D mine visualizers to strengthen their market position. 3D Mine visualizers refer to employing 3D software to produce visual information. 3D Mine visualizers are used to acquire a real-time digital representation of a mine and come with functions of the 3D geological model, ventilation simulation, real-time data monitoring, and emergency response. For Instance, in March 2021, Arvizio, a provider of enterprise augmented and mixed reality (AR/MR) software solutions for 3D visualization, along the collaboration with Sight Power to bring AR digital twins to the mining industry, introduced Immerse 3D solution, a 3D models and LiDAR scans and geological models from mining operations, which may encompass several miles or kilometers and comprise multiple levels, to be visualized in AR. Immerse 3D expands the capabilities of the Digital Mine platform to incorporate multi-user, multi-location AR visualization and collaboration in fully synchronized sessions.
In June 2020, Sev. en Energy AG, a Czeck Republic-based private energy group, acquired Blackhawk Mining for an undisclosed amount. With this acquisition, Sev. en Energy AG is looking to venture fully into the metallurgical coal mining industry and strengthen its presence in US metallurgical coal mining. Blackhawk Mining is a US-based producer and seller of metallurgical coal.
The countries covered in the metallurgical coal market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The metallurgical coal market research report is one of a series of new reports that provides metallurgical coal market statistics, including metallurgical coal industry global market size, regional shares, competitors with a metallurgical coal market share, detailed metallurgical coal market segments, market trends and opportunities, and any further data you may need to thrive in the metallurgical coal industry. This metallurgical coal market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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