Coke Market 2019-2028
New Study Reports “Coke Market 2019 Global Market Opportunities, Challenges, Strategies and Forecasts 2028” Added in Wiseguyreports.com.
Coke is a solid fuel high in carbon. It is derived by subjecting bituminous coals (coking or metallurgical coals) low in sulfur and ash to high temperatures in coking plants in the absence of oxygen until the volatile compounds and impurities are, by and large, removed. It is widely used in blast furnaces, iron-ore smelting, reducing agents, heat generation, and heat treatments or carburizing. As coke is primarily used in the iron and steel, and construction industries, the growth of global coke market depends up on the growth in allied industries.
The recent downturn in the global steel industry has led to a corresponding decline in the global demand for metallurgical coke. This is evident from the availability of coke from places like Australia (which primarily supplies coke to the European market) and Japan (used for captive consumption) in the cash market. Moreover, in places like India, Vietnam and other Southeast Asian countries, the expansion of coke oven capacities and firing up of more blast furnaces has lowered the demand for coke even further.
China, which used to be the largest exporter of metallurgical coke, has turned its focus on domestic consumption. China’s coke prices are no longer competitive in the export market with Southeast Asian countries buying coke from alternative sources like Japan and Columbia. However, being the world’s largest producer of steel, China’s domestic demand continues to be robust. As the demand for iron and steel picks up with expansion in economic activities of developing and emerging economies, and expansion of construction, automobile and other industries in developed economies, it will fuel the global demand for, and consumption of, coke. The development of substitutes for steel, however, can negatively impact the growth of the global coke market.
Important Key players Analysis: ArcelorMittal, Nippon Steel & Sumitomo Metal, POSCO, Tata Steel, SunCoke Energy, JSW Group, United States Steel, BlueScope, ABC Coke, Gujarat NRE Coke, Hickman, Williams & Company, Mid-Continent Coal and Coke Company, Haldia Coke, Baosteel, Ansteel, Wisco and more.
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The coke market can be segmented by type, application, sales channel, and region. By type, it includes blast furnace coke, buckwheat coke, nut coke, coke dust, and coke breeze. Its application covers steel, foundry, and other industries. Considering the importance of blast furnace coke in the production of steel, it is forecasted to have a substantial share of the coke market.
Sales channel may either be direct channel or distribution channel. The market for coke includes North America (USA, Mexico, and Canada), Europe (France, Germany, United Kingdom, Russia etc.), Asia Pacific (Japan, China, India, South Korea, Southeast Asia etc.), Middle East and Africa (Egypt, Saudi Arabia, South Africa, Nigeria etc.), and South America (Brazil, Chile, Colombia etc.).
In the global coke market, the Asia-Pacific region holds the highest share. China is the major player, accounting for over 50% of the market share. This is mainly due to the huge domestic demand for coke, and the presence of several market leaders in China. India, and Southeast Asian countries like Vietnam and Malaysia, are expected to contribute to the growth of the market in the Asia-Pacific region. In North America, the growth of global coke market has been on account of the diversification and expansion in the construction and automotive industries. The implementation of anti-dumping duties on imports of steel will further drive the growth in the region.
Coke Subcomponent Manufacturers
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In 2019, a leading market player announced plans to implement ‘stamp charging technology’ which would enhance the quality of coke produced while lowering the cost of production. It is also expected to reduce the environmental impact.
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