Metallurgical Coke Market Overview:
The demand for metallurgical coke is increasing in the iron, steel and energy industries. Metallurgical coke is formed by destructive distillation of a special mixture of bituminous coal in the absence of air or oxygen. To produce metallurgical coke, the coal is heated in furnaces at a specific temperature to produce coke with a low content of sulfur and phosphorus. Metallurgical coke is used for applications that require a high quality, resistant and very resistant carbon form. The main application of metallurgical coke is its use in iron and steel blast furnace plants, sintering plants and smelters for the reduction of iron ore. In general, large metallurgical coke plants are located in the iron and steel plants themselves. Modern ovens are designed to produce high quality metallurgical coke to reduce emissions and environmental safety.
The global Metallurgical Coke Market was valued at USD xx million in 2015 and is projected to increase up to USD xx million by 2023 growing at a CAGR of xx% during the forecast period 2015 to 2023.
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Metallurgical Coke Market Drivers and Restraints:
The rapid growth of the iron and steel industries has created an increase in the demand for metallurgical coke. The main and predominant field of application of metallurgical coke is found in the blast furnaces of the iron and steel industries. The demand for metallurgical coke has also increased for the power generation industries, which is expected to support the demand for metallurgical coke during the planned period. There was a significant increase in the number of iron and steel plants and power plants that drove the growth of the metallurgical coke business. One of the main challenges of the global market for metallurgical coke is the use of substitutes such as oils, plastics, among others, as a substitute for reducing agent and fuel for iron and stainless steel plants. In addition, the use of materials such as recycled tires or tires used as a carbon additive for the manufacture of metallurgical coke has also increased.
Metallurgical Coke Market Geographical Segmentation:
The global metallurgical coke market is expected to be dominated by the Asia-Pacific region, with China leading the production and consumption market. India is also expected to experience strong growth in the demand for metallurgical coke due to the rapid growth of the country’s steel industry. It is expected that all of North America and Europe have a significant part of the coke metallurgical market and aging manufacturing sites are expected to stimulate demand in the coming years. It is expected that significant investments in Brazil will boost the coke metallurgical market in Latin America. The Middle East and Africa are expected to experience moderate growth in the demand for metallurgical coke during the forecast period.
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Key Players of Metallurgical Coke Market:
Some of the prominent companies in the global market are Tata Steel, JSW Group, ABC Coke, Haldia Coke, United States Steel, POSCO, BlueScope, Gujarat NRE Coke, Ansteel, ArcelorMittal, Baosteel and others.
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