Metallurgical Coal Market Analysis :
Metallurgical coal, also known as coking coal, is a naturally forming sedimentary rock found within the earth’s crust. Metallurgical coal is used to create coke, which is a key exceptional input for the production of steel. It contains more carbon, less ash, and less moisture. Coke is produced with extreme heating of coal in absence of air or inert atmosphere. It takes around 770 kilograms of coal to produce one ton of steel.
COVID-19 scenario analysis
- COVID-19 has weakened the growth of every industry across the world. As lockdown has been imposed worldwide, the production activities have come to a standstill, which has led to drop in import and export of coal. The impact of the lockdown on the metallurgical coal market is more than that on the thermal coal market, as only thermal coal mines have been permitted to be operated for maintaining electricity.
- Coal production has declined by 6% in the current financial year.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Surge in application of steel in construction, transport, and household appliances drives the growth of the global metallurgical coal market. However, rise in environmental issues is one of the key obstacles for the market growth, as extraction of coal releases methane gas, which is harmful for environment. On the contrary, power generators are the largest consumers of coal; thus, increasing need for power is anticipated to offer lucrative opportunities for the market growth. Moreover, increase in research activities to improve the caking properties of low rank coal is expected to boost the market growth. For instance, large volume of low rank coal is abundant in China, which can be utilized by thermal hydrogenation.
New product launches to boost the market
Ecological Clean Technologies (ECT), a provider of clean coal technology, consented to an arrangement with India's national lignite and iron mineral specialists to help scale up and popularize ECT's patented coldry process, which produces high energy and clean coal in pellet form.
Coldry is a one of a kind, zero-emanation, and lignite updating innovation for delivering a strong fuel for use in power generation, industrial thermal applications, and as a feedstock to higher esteem downstream products, for example, hydrocarbon fluids, gas, compost, synthetic concoctions, singes, initiated carbon, hydrogen, and steelmaking by means of the Matmor innovation. Coldry strong fuel is essentially less CO2-concentrated than lignite.
Surge in usage in metallurgical and industrial applications
Metallurgical coal has higher energy and less moisture content compared to thermal coal, which makes metallurgical suitable for production of iron, steel, and other metals. Every industry is dependent on the steel industry, and their demand for steel is met by the major players operating in the metallurgical coal market. The demand for metallurgical coal is considerably driven by rise in demand for steel. Primary steelmaking companies often have a division that produces coal for coking to ensure a stable and low-cost supply.
Key benefits of the report
- This study presents the analytical depiction of the global metallurgical coal industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global metallurgical coal market share.
- The current market is quantitatively analyzed to highlight the growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on the competitive intensity and how the competition will take shape in coming years.
Questions answered in the global metallurgical coal market research report:
- Which are the leading market players active in the global metallurgical coal market?
- What the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Metallurgical Coal Market, by Type Report Highlights
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