Europe India Southeast Asia Metallurgical Coke Market Trends & Opportunities with Forecast
Europe, India, and Southeast Asia Metallurgical Coke Market: Introduction
Transparency
Market Research delivers key insights on the Europe, India, and Southeast Asia metallurgical coke market.
In terms of revenue, the Europe, India, and Southeast Asia metallurgical coke
market is estimated to expand at a CAGR of 4.1% during the
forecast period, owing to numerous factors, regarding which TMR offers thorough
insights and forecast in its report on the Europe, India, and Southeast Asia
metallurgical coke market.
The Europe,
India, and Southeast Asia metallurgical coke market has been positively
impacted by an increase in demand for metallurgical coke in end-use industries
such as soda ash manufacturing, ceramic packing media, and graphite electrodes.
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Europe, India, and Southeast Asia
Metallurgical Coke Market: Dynamics
Consumers in
developing countries have different mobility needs. Constant urbanization is
expected to prompt consumers to own cars in the near future. Increase in sale
of new vehicles and the number of on-road vehicles in regions such as Asia
Pacific is estimated to propel the demand for ferrous alloys as well as steel
in in the near future. This surge is apparent in Asia Pacific, which is turning
out to be an automotive manufacturing hub. Countries in the region such as
India, China, Japan, South Korea, Thailand, and Indonesia account for major
share of the Europe, India, and Southeast Asia car production.
Ferroalloys
are used in the preparation of wide variety of steel including plain carbon
steel, stainless steel, alloy steel, and electrical/silicon steel. Ferroalloys
consist of non-ferrous metal ore, iron or iron ore, metallurgical coke, and
flux. These raw materials are treated at higher temperature in submerged-arc
electrical furnaces for the production of ferroalloys. Metallurgical coke acts
as a reducing agent in this process. Reducing agent acts as a source of carbon
and helps decompose the ore. Decomposition enables the elimination of gases or
slang in the ore, leaving the metal from the ore behind.
Thus, rise
in demand for vehicles and increase in production of vehicles are likely to
boost the demand for steel, thereby augmenting the demand for ferroalloys. Rise
in usage of ferroalloys is anticipated to propel the metallurgical coke market.
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Europe, India, and Southeast Asia
Metallurgical Coke Market: Prominent Regions
In terms of
value, Europe dominated the Europe, India, and Southeast Asia metallurgical
coke market in 2020. The region is expected to maintain its dominance during
the forecast period, due to significant growth in the automobile industry.
Europe has witnessed substantial investments in the automobile industry in the
last decade, due to the presence of higher number of automobile manufacturers
in the region.
Russia &
CIS is the leading country and holds major share of the metallurgical coke
market in Europe. The metallurgical coke market in Russia & CIS is driven
by increase in investment in infrastructure & construction activities as
well as manufacturing activities in the country.
India was a
lucrative country of the Europe, India, and Southeast Asia metallurgical coke
market in 2020. It was the second largest producer of crude steel, producing
more than 9 MT of crude steel, in 2020. According to India Brand Equity
Foundation (IBEF), the country’s finished steel consumption is expected to
increase from 93.43 MT from 2020-2021 to 230 MT by 2030-2031. India’s current
steel producing capacity stands at around 140 mtpa and is anticipated to
increase to 300 mtpa by 2030-2031. Driven by rising construction activities,
India’s domestic steel demand is expected to rise by 17% in FY 2022. This is
likely to boost the demand for metallurgical coke in India during the forecast
period.
Southeast
Asia accounted for key share of metallurgical coke market in 2020. This trend
is expected to continue during the forecast period due to the increase in
consumption of steel owing to its usage in infrastructure & construction
activities in the region.
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Europe, India, and Southeast Asia
Metallurgical Coke Market: Key Players
Key players
operating in the Europe, India, and Southeast Asia metallurgical coke market
are Sesa Goa Iron Ore, Coal India Limited, BHP, Arjas Steel, Simplex Coke,
Hickman Williams & Company, SM Group, Oxbow Corporation, Coromandel Met
Coke Industries, and Foundry Fuel Products Limited.
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