Global coking coal market was increasing because of growth in the production of steel, an increase in GDP of the economy and rapid urbanization across the world. Substantial growth in the coking coal market will be experienced in the coming years owing to its future projects of production. On the other hand, variations in the market are anticipated because of the cost of infrastructure, volatile prices and transportation of coking coal.
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Coking coal is also known as metallurgical coal, used as an important constituent for the production of steel. Value for metallurgical coal is combined with the demand for steel. In the basic oxygen furnace process of steelmaking, metallurgical coal is an energetic reactant. On adding, emerging economies like China, Indonesia and India have significantly participated in the increasing value for the metallurgical coal market across the world. China is the main consumer and producer of coking coal worldwide and have produced approximately 800 million metric tons. In January 2017, the price for the metallurgical coal was at $xx per metric ton and it raised up to $xx per metric ton by end of 2017.
This rise in price was due to insufficient supply, demand for the metallurgical coal was stable. Hence, to withstand the essential supply for metallurgical coal, many enterprises across the world are reopening closed mines. Recent companies will have to compete with new suppliers of metallurgical coal worldwide, who had moved out of the market because of less price of metallurgical coal. Hence, the metallurgical coal market is projected to increase in the forecast period. Baosteel and ArcelorMittal are the main leaders and largest consumer of the metallurgical coal industry.
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Coal is a combustible black sedimentary rock formed by carbon. There are several types of coal of different forms and differences in impurities and qualities. Coke is the fuel which have some impurities and high content of carbon. Coke is made by heating the coal in absence of air. Cokes made from coal are hard, porous and grey. Coke can be formed synthetically and naturally. Another form is known as pet coke or petroleum coke, derived from units of the oil refinery or other procedures of cracking. The main source of carbon is used in steelmaking.
Global coking coal market is segmented on the basis of application, type, and region. On the basis of application, coking coal industry is divided into power industry, metallurgy, chemical, train, and others. Metallurgy coal industry holds the maximum share in the coking coal industry. Based on the type, coking coal industry is divided into medium coking coal, pulverized coal injection coal (PCI), semi-soft coking coal (SSCC) and hard coking coal (HCC).
Regions involved in increasing the coking coal industry market share are Europe, Japan, United States, China, India, Australia and many more. U.S and Australia are the major exporters of coking coal, where Japan, China, South Korea and India were the main importers in 2017. Because of increase in production of coal from the mines, China coking coal industry has taken over the global coking coal market.
Key Segments in the “Global Coking Coal Market” are-
By Application market is segmented into:
- Power Industry
By Type market is segmented into:
- Medium coking coal
- Pulverized coal injection coal (PCI)
- Semi-soft coking coal (SSCC)
- Hard coking coal (HCC)
By Regions market is segmented into:
- United States
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What to expect from the Global Coking Coal Market report?
- Predictions of future made for this market during the forecast period.
- Information on the current technologies, trends, devices, procedures, and products in the industry.
- Detailed analysis of the market segmentation, depending on the types, devices, and products.
- Government regulations and economic factors affecting the growth of the market.
- An insight into the leading manufacturers.
- Regional demographics of the market.
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Venture capitalists, Investors, financial institutions, Analysts, Government organizations, regulatory authorities, policymakers ,researchers, strategy managers, and academic institutions looking for insights into the market to determine future strategies
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