NEW YORK , June 16, 2022 /PRNewswire/ -- The "Global Metallurgical Coal Market by Application and Geography - Forecast and Analysis 2021-2025" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the global metallurgical coal market between 2020 and 2025 is USD 14 billion , as per the latest market analysis report by Technavio. The report also predicts the market to witness an accelerating growth momentum at a CAGR of 2.23%.
To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Market Driver: The increasing demand for steel is a major factor driving the global metallurgical coal market share growth. Metallurgical coal is one of the key elements required for the production of steel. Steel is generally produced through two methods, namely the BF-BOF and EAF methods. Metallurgical coal is required in both these production methods. In addition, the high economic growth rates of these countries have also spurred the demand for steel in these countries. Favorable global economic momentum will increase the demand for steel, which will stimulate the consumption of metallurgical coal, thus driving the growth of the market during the forecast period.
Market Challenge: The volatility in prices of metallurgical coal will be a major challenge for the global metallurgical coal market share growth during the forecast period. The cost of metallurgical coal is significantly higher than that of thermal coal, which is experiencing a slow demand due to the phasing out of coal-fired power plants across the globe owing to its criticality in these industries and the low availability of substitutes.
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The global metallurgical coal market report is segmented by Application (steelmaking and non-steelmaking) and Geography (APAC, North America , Europe , MEA, and South America ).
The steelmaking application segment held the largest metallurgical coal market share in 2020. The segment will continue to account for the highest share throughout the forecast period. The growth of the steelmaking segment was led by the rising global demand for steel in 2019, especially in emerging economies such as China and India . These countries are among the largest producers of steel, and thus the demand for metallurgical coal in these countries is also high.
APAC will be the leading region with 45% of the market's growth during the forecast period. China , Indonesia , and India are the key markets for global metallurgical coal market in APAC. Market growth in this region will be faster than the growth of the market in all other regions. The significant increase in the adoption of cloud coal manufacturers by enterprises across industries in countries will propel the global metallurgical coal market growth in APAC over the forecast period.
View sample report for additional insights into the contribution of all the segments, and regional opportunities
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Global Metallurgical Coal Market Scope
Accelerate at a CAGR of over 2.23%
Asia, Australia, Europe, Africa, North America, and South Africa
US, China, Australia, Russian Federation, Indonesia, and India
Leading companies, competitive strategies, consumer engagement scope
Anglo American Plc, Arch Coal Inc., Bharat Coking Coal Ltd., BHP Group plc, China Coal Energy Co. Ltd., China Shenhua Energy Co. Ltd., Coronado Global Resources Inc., Glencore Plc, Teck Resources Ltd., and Vale SA
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
3.4 Market outlook: Forecast for 2020 - 2025
5.3 Steelmaking - Market size and forecast 2020-2025
5.4 Non-steelmaking - Market size and forecast 2020-2025
7.3 APAC - Market size and forecast 2020-2025
7.4 North America - Market size and forecast 2020-2025
7.5 Europe - Market size and forecast 2020-2025
7.6 MEA - Market size and forecast 2020-2025
7.7 South America - Market size and forecast 2020-2025
10.7 China Coal Energy Co. Ltd.
10.8 China Shenhua Energy Co. Ltd.
11.2 Currency conversion rates for US$
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