Metallurgical Coke Global Market Report 2024

The metallurgical coke market size has grown steadily in recent years. It will grow from $194.29 billion in 2023 to $203.56 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth during the historical period can be traced back to fluctuations in demand within the steel industry, the availability and quality of raw materials, economic cycles and industrial expansion, the globalization of markets and shifts in trade patterns, as well as the dynamics within the energy market.

The metallurgical coke market size is expected to see steady growth in the next few years. It will grow to $247.35 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The anticipated growth in the forecast period is driven by various factors such as the adoption of alternative production methods, the implementation of carbon capture and storage (CCS) techniques, the integration of Industry 4.0 practices, initiatives promoting circular economy models, and the increasing integration of renewable energy sources. Major trends expected during this period encompass shifts in the dynamics of the steel industry, the impact of environmental regulations, the availability of raw materials, initiatives towards energy transition, and the demand from end-use industries.

The swift expansion within the steel industry is projected to drive the advancement of the metallurgical coke market in the coming times. The steel industry involves the transformation of iron ore into steel, an iron-carbon alloy, sometimes processing this metal into semi-finished products or recycling scrap metal into steel. Metallurgical coke plays a crucial role in facilitating the production of molten iron from iron ore and limestone, which is subsequently refined and heated to manufacture steel. For instance, as per the India Brand Equity Foundation (IBEF), in 2021, crude steel production totaled 102.49 metric tonnes (MT), with finished steel reaching 94.66 MT in India. The government aims to elevate rural steel consumption from the current 19.6 kg/per capita to 38 kg/per capita by 2030-31. Furthermore, the Worldsteel Association projects steel demand in the European Union to reach 167.4 Mt in 2022. Hence, the rapid expansion of the steel industry is steering the growth of the metallurgical coke market.

The increasing need for automotive vehicle production is anticipated to drive the growth of the metallurgical coke market in the forthcoming years. Automotive vehicle production encompasses the process of manufacturing various transportation vehicles such as automobiles, trucks, vans, and others. Metallurgical coke holds a crucial role in automotive manufacturing as a primary carbon source in blast furnaces, pivotal in crafting high-quality steel necessary for vehicle components including frames, engines, and structural parts. For example, as per the Federal Chamber of Automotive Industries in January 2023, the exceptional year 2022 witnessed a demand for automobiles surpassing the available supply, reaching 1,081,429 units. SUVs and light trucks constituted 76.8% of the total sales. Hence, the increasing demand for automotive vehicle production remains a driving force behind the metallurgical coke market.

In the metallurgical coke market, strategic partnerships have become a prominent and favored trend. Major companies within the metallurgical coke sector are actively engaging in partnerships to drive the development of this market segment. For example, in November 2021, ArcelorMittal, a Luxembourg-based commercial coke producer serving the ferroalloy industry, joined forces with Orange Business Services, an India-based service provider, and Ericsson, a Sweden-based telecommunications company. This collaborative effort resulted in the launch of 5G Steel, an initiative aimed at testing 4G/5G connectivity within ArcelorMittal's industrial sites in France over the course of the next three years. This strategic partnership signifies a concerted effort to explore and leverage advanced connectivity solutions to enhance operations within the metallurgical coke industry.

Major companies in the metallurgical coke market are expanding their facilities to better serve the needs of their established consumer base. Nippon Steel Engineering Co. Ltd. (NSE) has been a significant player in constructing Coke Dry Quenching (CDQ) plants, which are heat recovery systems used to cool hot coke from coke ovens. The CDQ system is renowned for its energy-saving and environmentally friendly attributes. For example, in July 2022, Nippon Steel Engineering Co. Ltd., a Japanese company specializing in steel product manufacturing, completed the construction of a coke dry quenching plant for JFE Steel Corporation, another Japanese steel manufacturing company. The plant has been designed to be environmentally conscious by minimizing dust emissions throughout the coke conveying and cooling processes, making it particularly suitable for urban steelworks.

In March 2021, Metinvest, a mining company based in Ukraine, acquired Pokrovske coal business for an undisclosed sum. This acquisition is aimed at enhancing the efficiency of Pokrovske coal firm, leveraging Metinvest's corporate culture and robust social guarantees, which are anticipated to benefit the employees. Pokrovske stands as Ukraine's largest producer of coking coal.

Major companies operating in the metallurgical coke market report are ArcelorMittal S.A., POSCO, Nippon Steel & Sumitomo Metal Corporation, Baosteel Group Corporation, CHINA SHENHUA ENERGY IMPORT & EXPORT CO. LTD., Tata Steel Limited, United States Steel Corporation, JSW Steel Limited, Ansteel Spain S.L., BlueScope Steel Limited, China Risun Coal Chemicals Group Limited, Jiangsu Surun High Carbon Co. Ltd., Risun Coal Chemicals Group Limited, Mechel OAO, Drummond Company Inc., Shanxi Yiyi Coking Coal Group Co. Ltd., Shanxi Sunlight Coking Group Company Limited, Jiangxi BLACKCAT Carbon Black Co. Ltd., SunCoke Energy LLC, Oxbow Carbon LLC, Taiyuan Coal Gasification (Group) Co. Ltd., ECL Coal Ltd., Gujarat Narmada Lignite Company Limited, Haldia Coke and Industries Limited, Mid-Continent Coal and Coke Company LLC, OKK Koksovny a.s., Shanxi Lubao Coking Group Co. Ltd., Sunlight Coking LLC, Hickman Williams & Company.

Asia-Pacific was the largest region in the metallurgical coke market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the metallurgical coke market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the metallurgical coke market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Metallurgical coke comes in various types, including blast furnace coke, nut coke, foundry coke, pearl coke, breeze coke, buckwheat, and others. Blast furnace coke, produced through the destructive distillation of bituminous coal blends, is a hard carbon material crucial for pig iron production in blast furnaces. It comes in different grades such as low ash and high ash, used in applications such as iron and steel making, sugar processing, glass manufacturing, and others, serving sectors such as steel, foundries, and more.

The metallurgical coke market research report is one of a series of new reports that provides metallurgical coke market statistics, including metallurgical coke industry global market size, regional shares, competitors with a metallurgical coke market share, detailed metallurgical coke market segments, market trends and opportunities, and any further data you may need to thrive in the metallurgical coke industry. This metallurgical coke 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.

The metallurgical coke market consists of sales of metcoke, limestone and iron ore. 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.

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.