NEW
YORK, July 4, 2024 /PRNewswire/ -- The
global foundry coke market size is estimated to grow by
USD 500.7 million from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 4.36% during the forecast period. Growing steel
industry is driving market growth, with a trend
towards rising demand for foundry coke from emerging markets.
However, volatility in raw material prices poses a
challenge. Key market players include ArcelorMittal SA, China Coke
Group Holding Co. Ltd., Drummond Co. Inc., GR RESOURCE LTD.,
HEBEI YUNAI NEW MATERIAL
TECHNOLOGY CO. LTD., Hickman
Williams and Co., Italiana Coke Srl, Jiangsu surung High carbon Co. Ltd., Majufa
Traders and Exporters, Nippon Coke and Engineering Co. Ltd., OKK
Koksovny a.s., Quimica del Nalon SA, Richa Refractories, RIZHAO
HENGQIAO CARBON CO. LTD., Rizhao Yeneng New Energy Technology Co.
Ltd, Sesa Goa Iron Ore, Shree Arihant Trade Links India Pvt Ltd.,
Siddhi Vinayak Impex, Walbrzyskie Zaklady Koksownicze Victoria SA,
and Zhongrong Xinda Group Co. Ltd..
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Foundry Coke Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
4.36%
|
Market growth
2024-2028
|
USD 500.7
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.11
|
Regional
analysis
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 43%
|
Key
countries
|
China, US, Germany,
Japan, and Italy
|
Key companies
profiled
|
ArcelorMittal SA, China
Coke Group Holding Co. Ltd., Drummond Co. Inc., GR RESOURCE LTD.,
HEBEI YUNAI NEW MATERIAL TECHNOLOGY CO. LTD., Hickman Williams and
Co., Italiana Coke Srl, Jiangsu surung High carbon Co. Ltd., Majufa
Traders and Exporters, Nippon Coke and Engineering Co. Ltd., OKK
Koksovny a.s., Quimica del Nalon SA, Richa Refractories, RIZHAO
HENGQIAO CARBON CO. LTD., Rizhao Yeneng New Energy Technology Co.
Ltd, Sesa Goa Iron Ore, Shree Arihant Trade Links India Pvt Ltd.,
Siddhi Vinayak Impex, Walbrzyskie Zaklady Koksownicze Victoria SA,
and Zhongrong Xinda Group Co. Ltd.
|
Market Driver
The foundry coke market is witnessing growth due to the
increasing demand from emerging markets, particularly in regions
such as Asia Pacific, South America, and the Middle East and Africa. Rapid urbanization, infrastructure
development, and industrialization in these regions are driving the
need for steel, leading to a rise in demand for foundry coke. In
APAC, countries like China and
India are experiencing significant
growth in construction activities, which require large quantities
of steel. The automotive industry in these markets is also
expanding, fueled by increasing incomes and growing middle-class
populations, leading to a surge in demand for automobiles and their
steel-intensive components. Furthermore, emerging markets have a
strong focus on infrastructure development, including
transportation systems, energy projects, and industrial facilities,
which require substantial amounts of steel and, consequently,
foundry coke. The establishment of new steel mills and the
expansion of existing ones in these markets will contribute to
increased consumption of foundry coke, driving the growth of the
global foundry coke market.
Foundry coke is a key growth-generator in the steel industry,
known for its high heat value and compact structure. Its extensive
carbon content makes it an essential ingredient in cupola furnaces
for casting metals like cast iron, steel, sintered metals, aluminum
alloys, magnesium alloys, and ceramic. The urbanization and
construction activities drive the demand for foundry coke,
especially in the automobile sector. Non-recovery coke ovens are
commonly used in its production, ensuring a denser structure and
low ash content. The beehive process and furnace diameter play a
crucial role in optimizing the process. Metal temperature and
breakage are critical factors affecting the quality of the final
product. Strategic collaborations between coke manufacturers and
steel producers have been a trend, ensuring a steady supply of coke
and maintaining revenues. Insulating materials like stone wool are
used to maintain furnace temperature, and the size of the furnaces
varies depending on the production requirements. The coal output
and imports significantly impact the coke market, and the process
continues to evolve with ongoing innovations in furnace
technology.
Research report provides comprehensive data on
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Report
Market Challenges
- The foundry coke market faces significant challenges due to the
volatility in raw material prices, primarily driven by coal. Coal,
being the primary raw material for foundry coke production,
experiences fluctuations that impact production costs and
profitability for manufacturers. Supply-demand dynamics and
geopolitical factors contribute to this volatility. For instance,
coal supply imbalances or production disruptions can lead to price
fluctuations. Trade disputes or changes in government policies can
also impact coal availability and cost. Shifts towards renewable
energy and natural gas as alternatives to coal can reduce coal
demand, negatively affecting its price. Additionally, environmental
regulations and carbon pricing initiatives increase coal production
costs, which may be passed on to foundry coke manufacturers. This
volatility creates challenges for foundry coke producers in
managing costs and pricing strategies, potentially impacting their
profitability and the growth of the global foundry coke
market.
- The Foundry Coke market faces several challenges in various
sectors. In the automobile industry, cast iron components require
high-quality coke for efficient production. However, the use of
cast iron is declining due to the shift towards lighter materials.
End-user sectors like steel, sintered metals, aluminum alloys,
ceramics, and metallic coverings also rely on coke for their
manufacturing processes. Challenges include the availability of
suitable coal output and coal imports for coke production. The ash
content and heating value of coal significantly impact coke
quality. Market participants use different types of coke, such as
Bluestone Coke, Walter Coke, and ERP
Compliant Coke, in their processes. Coke production involves
furnaces like Coke Furnace and Cupolas, which require insulating
materials like stone wool for efficient operation. Market leaders
like Pohang Steelworks and Walter Energy produce various types of
coke, including hard coal coke, Form-coke, and Jumbo-ovens. The
by-product recovery process is essential for minimizing waste and
maximizing profitability. The Foundry Coke market assessment period
includes factors like carbon content, heating value, and market
trends for fuel and carbon sources, including iron, copper, lead,
tin, zinc, and their alloys. Carbon content and heating value are
crucial factors in determining the suitability of coke for various
applications.
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challenges - Request a sample report!
Segment Overview
This foundry coke market report extensively covers market
segmentation by
- Type
- 1.1 Pig iron
- 1.2 Copper
- 1.3 Zinc
- 1.4 Others
- Application
- 2.1 Automotive parts casting
- 2.2 Machinery casting
- 2.3 Material treatment
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Pig iron- Foundry coke holds a significant role
in the global market, particularly in the pig iron segment. In the
iron and steel manufacturing process, pig iron is produced by
smelting iron ore in blast furnaces using coke as fuel and reducing
agent. Foundry coke provides the necessary heat and carbon for this
process. It acts as a fuel, generating high temperatures inside the
blast furnace, and as a source of carbon, which combines with
oxygen in the iron ore to remove impurities. This results in the
reduction of iron oxides, creating a reducing atmosphere within the
furnace and producing molten iron. The molten iron is then tapped
and further processed to create various steel products. The steel
industry's demand for pig iron, and subsequently foundry coke,
remains strong due to steel's versatile applications in
construction, automotive manufacturing, infrastructure development,
and machinery production. Therefore, the pig iron segment's growth
will continue to drive the global foundry coke market.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
Foundry coke, a critical ingredient in the production of cast
iron, plays a significant role in the automobile sector and various
end-user industries. Its manufacturing process involves the use of
furnaces, such as cupolas, and insulating materials like stone
wool. The coal output and imports are crucial factors in the
production of foundry coke, which comes in different forms,
including hard coal coke and form-coke. Jumbo-ovens and the
by-product recovery process are used to produce foundry coke, which
has a high heat value, compact structure, and extensive carbon
content. The metal temperature during the coke-making process is
crucial to ensure the desired properties of the final cast iron
product. Urbanization and construction activities are growth
generators for the foundry coke market due to the increasing demand
for cast iron in infrastructure development. Industries like iron,
copper, lead, tin, and zinc rely on foundry coke for their
production processes. The compact structure and extensive carbon
content make foundry coke an essential component in the production
of cast iron, which is used in various industries. However, the
process of making foundry coke can result in breakage, which can
impact the quality of the final product. Therefore, continuous
research and development efforts are being made to improve the
coke-making process and reduce breakage.
Market Research Overview
Foundry coke is a critical fuel used in the production of cast
iron and various other metals such as steel, sintered metals,
aluminum alloys, magnesium alloys, and ceramics. The market for
foundry coke is driven by the automobile sector and end-user
sectors requiring cast components. The production of foundry coke
involves the use of hard coal in furnaces like cupolas and coke
ovens, including jumbo-ovens and non-recovery coke ovens. The
by-product recovery process is essential in modern coke production,
which results in the production of valuable by-products like coal
tar, ammonia, and light oils. The foundry coke market is influenced
by several factors, including coal output, coal imports, and the
carbon content and heating value of the coke. The demand for
foundry coke is driven by the extensive use of cast iron in various
industries, including automotive parts casting and machinery
casting. Insulating materials like stone wool and metallic
coverings are also used to enhance the efficiency of the coke
production process. The foundry coke market is expected to grow
significantly during the assessment period due to the high demand
for cast iron and other metals in urbanization and construction
activities. The market participants include producers of Bluestone
Coke and Walter Coke, as well as ERP
Compliant Coke and SMS team. The process of producing foundry coke
involves the use of various forms like hard coal coke, form-coke,
and ERP Compliant Coke, which differ in their carbon content,
compact structure, and breakage properties. The size and process of
the furnaces, including cupola furnaces and beehive process
furnaces, also impact the production of foundry coke.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Pig Iron
- Copper
- Zinc
- Others
- Application
-
- Automotive Parts Casting
- Machinery Casting
- Material Treatment
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
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technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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