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The international market research institute Reportlinker.
com recently released a report that the compound annual growth rate of the global metallurgical coal market from 2020 to 2024 is about 2%, and the market size is expected to increase to US$14.
91 billion
during the forecast period due to the slowdown in market demand and environmental factors.
According to the report, the progress of the mining industry and the high demand for steel in various industries are the main reasons driving the growth of the global metallurgical coal market in the coming years, but at the same time, stringent government coal regulations, high benchmark metallurgical coal prices, and increasingly stringent requirements for reducing carbon emissions face strong constraints to this market growth
.
In addition, factors such as rising living standards and population growth have significantly increased the demand for steel
.
Moreover, improved infrastructure in urban areas leading to rapid urbanization will also drive demand for steel, which will increase the consumption
of metallurgical coal.
From the application point of view, the metallurgical coal market segment mainly includes two categories
: steelmaking and non-steelmaking.
Increasing urbanization and increasing smart city projects are contributing to the market growth in the steelmaking sector, thereby stimulating the growth in the
demand for metallurgical coal.
The steelmaking segment is expected to grow faster than the non-steelmaking segment during the forecast period
.
In terms of market segment, Asia Pacific accounted for the largest metallurgical coal market share in 2019 and the region will continue to provide the largest growth opportunities
for market vendors during the forecast period.
The rapid development of industrialization and the booming infrastructure have driven the demand for steel, which will greatly affect the growth
of the metallurgical coal market size.
From the perspective of global markets, more than 87% of the market growth during the forecast period will come from the Asia-Pacific region
.
China, Indonesia and Australia are the major markets
for metallurgical coal in the Asia-Pacific region.
The market growth in this region will be faster than the growth of the Americas and EMEA markets
.
From the perspective of suppliers, Anglo American, Archie Coal, Bharat Coking Coal Co.
, Ltd.
, BHP Billiton, China Coal Energy, China Shenhua Energy, Coronado Global Resources, Glencore, Tektronix Resources and Vale will become outstanding suppliers
in the global metallurgical coal market.
The international market research institute Reportlinker.
com recently released a report that the compound annual growth rate of the global metallurgical coal market from 2020 to 2024 is about 2%, and the market size is expected to increase to US$14.
91 billion
during the forecast period due to the slowdown in market demand and environmental factors.
According to the report, the progress of the mining industry and the high demand for steel in various industries are the main reasons driving the growth of the global metallurgical coal market in the coming years, but at the same time, stringent government coal regulations, high benchmark metallurgical coal prices, and increasingly stringent requirements for reducing carbon emissions face strong constraints to this market growth
.
In addition, factors such as rising living standards and population growth have significantly increased the demand for steel
.
Moreover, improved infrastructure in urban areas leading to rapid urbanization will also drive demand for steel, which will increase the consumption
of metallurgical coal.
From the application point of view, the metallurgical coal market segment mainly includes two categories
: steelmaking and non-steelmaking.
Increasing urbanization and increasing smart city projects are contributing to the market growth in the steelmaking sector, thereby stimulating the growth in the
demand for metallurgical coal.
The steelmaking segment is expected to grow faster than the non-steelmaking segment during the forecast period
.
In terms of market segment, Asia Pacific accounted for the largest metallurgical coal market share in 2019 and the region will continue to provide the largest growth opportunities
for market vendors during the forecast period.
The rapid development of industrialization and the booming infrastructure have driven the demand for steel, which will greatly affect the growth
of the metallurgical coal market size.
From the perspective of global markets, more than 87% of the market growth during the forecast period will come from the Asia-Pacific region
.
China, Indonesia and Australia are the major markets
for metallurgical coal in the Asia-Pacific region.
The market growth in this region will be faster than the growth of the Americas and EMEA markets
.
From the perspective of suppliers, Anglo American, Archie Coal, Bharat Coking Coal Co.
, Ltd.
, BHP Billiton, China Coal Energy, China Shenhua Energy, Coronado Global Resources, Glencore, Tektronix Resources and Vale will become outstanding suppliers
in the global metallurgical coal market.
