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Growing demand for steel will drive demand for metallurgical coke

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The metallurgical coke market is directly dependent on the steel market and is closely related to such industries as infrastructure construction and mechanical engineering.

Growing demand for steel will drive demand for metallurgical coke

In a market research published on Wednesday entitled Metallurgical Coke Market: A Global Industry Analysis 2013-2018. and forecast for 2019–2027 " the market is said to grow at a compound annual growth rate (CAGR) of 2.9 percent over the forecast period.

According to World Coal analysts, the global metallurgical coke market was estimated at $ 186 billion by the end of 2018, and by the end of 2027 it will reach $ 241.1 billion.

The most significant factors affecting the growth of the metallurgical coke market are the growth of the construction industry, an increase in car production and a positive outlook for global steel production.

Factors influencing the growth of the metallurgical coke market

The production of iron and steel is one of the main fields of application of metallurgical coke. Consequently, the dynamics of the metallurgical industry will directly affect the metallurgical coke market.

Increased demand for steel from various industries is expected to drive growth in steel production, which in turn will drive growth in the metallurgical coke market.

Rising infrastructure spending and growing residential and commercial construction are other important factors that are projected to drive demand for metallurgical coke during the forecast period.

In addition, the strengthening of the protectionist stance of governments due to overproduction of steel by Chinese producers is also expected to have a significant impact on the global metallurgical coke market during the forecast period.

The growing construction industry is expected to have a positive impact on the global metallurgical coke market. The construction industry is the largest consumer of steel, and any growth in the construction industry will drive the demand for steel, which in turn will drive the growth of the metallurgical coke market.

Developing countries such as India and ASEAN countries are expected to create significant opportunities for the metallurgical coke market by stepping up government initiatives to develop domestic manufacturing industries. In addition, recovery in economic growth and increased industrial and institutional investment in Latin American countries such as Argentina, Brazil and Mexico will create an optimistic outlook for the metallurgical coke market.

Metallurgical coke market forecast

According to estimates, the world market for metallurgical coke will grow in the forecast period. The global metallurgical coke market is segmented based on product type, ash content, end use and region.

Based on the product type, the blast furnace coke segment, according to World Coal estimates, dominated the global metallurgical coke market in 2017 and is expected to maintain its position during the forecast period. The technical coke segment is expected to grow at a significant CAGR due to growing demand from the chemical industry.

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