H1 2023: In H1 2023, In the second quarter of 2023, the US coal market witnessed an almost bearish trend. The downturn was primarily attributed to an excess supply of brown coal in the US market and subdued demand from overseas. Abundant brown coal availability exerted downward pressure on prices. April and May 2023 witnessed an uptick in activity in the mining and exploration sector, contributing to the growing coal supply in the country. This surge, however, was seasonal, adding to the existing surplus. A slight recovery in US coal prices occurred in May 2023, with a slight increase, driven by stable demand from overseas markets and heightened demand from downstream steel and power production industries. The summer season marked the zenith of US electricity generation from coal, aligning with peak electricity demand driven by air conditioning needs. In the second quarter of 2023, the Asian coal market experienced a downward price trend, notably in China. The coal prices in China underwent significant declines. Similar trend was observed in Australia. The improvement in the mining industry during this period played a crucial role in the decline of coal prices in Australia. Favourable hot and dry weather conditions, influenced by the El Niño effect, created ideal circumstances for heightened productivity in the Australian mining sector. Consequently, the increased coal supply resulting from improved mining operations contributed to the overall decrease in coal prices.
The global Coal market stood around 8.3 billion tonnes in 2022 and is expected to grow at a steady CAGR of 8.9% during the forecast period until 2032.
Coal, a fossil fuel derived from the remnants of deceased flora and fauna over millions of years, constitutes a black sedimentary rock abundant in global deposits. With elevated carbon content, coal serves predominantly as a fuel for electricity generation and plays a pivotal role in industrial applications like steel production, cement manufacturing, and chemical processes. The industrial cycle of coal encompasses extraction through mining and subsequent processing to enhance its utility. Processes such as washing and cleaning are employed to eliminate impurities and enhance coal quality. Subsequently, the refined coal is transported to power plants or other industrial sites for utilization.
Coal, a multifaceted resource, plays a pivotal role across diverse industries. Primarily recognized as a stalwart in electricity generation, coal fuels power plants worldwide, providing a significant share of the global energy mix. Its combustion produces steam, driving turbines to generate electricity. Beyond power generation, coal is indispensable in steel production, where it undergoes transformation into coke for the reduction of iron ore in blast furnaces. The industrial landscape benefits from coal's versatility as a feedstock, contributing to processes such as cement manufacturing and various chemical productions. In traditional household contexts, coal historically served for heating and cooking. Coal's impact extends into chemical manufacturing, providing the raw material for a range of products, including synthetic fuels, ammonia, and plastics. Moreover, coal finds application in paper production, aiding in both paper drying and electricity generation for paper mills. Based on type, the global Coal market is divided into Anthracite, Bituminous, Subbituminous, and Lignite.
The coal market is intricately shaped by various pivotal drivers that dictate its demand and overall dynamics. Firstly, coal maintains its significance as a primary source for global electricity generation due to its affordability and abundant availability. Particularly in regions where alternative energy sources may be less accessible or more costly, coal remains a crucial contributor to energy production. Moreover, coal plays a fundamental role as a raw material in diverse industries, including steel production, cement manufacturing, and various chemical processes. The growth and performance of these industrial sectors have a direct and substantial impact on the demand for coal. Furthermore, the demand for coal experiences a boost from escalating infrastructure development worldwide. As construction and urban development projects surge, coal becomes integral in the production of key building materials such as cement and steel. The steel industry, in particular, heavily relies on metallurgical coal (coking coal) to produce coke, a vital component in the steelmaking process. The demand for steel, driven by construction and manufacturing activities, significantly influences the demand for metallurgical coal. In addition to industrial factors, global economic trends play a crucial role in shaping coal market dynamics. Economic growth and industrialization contribute to increasing energy needs, thereby influencing the demand for coal. Developing economies, characterized by expanding industrial sectors, often exhibit a heightened demand for coal as they undergo significant economic growth. Throughout the projection period, the petrochemical industry is anticipated to exhibit significant increase in the demand of Coal and reach nearly 117 billion tonnes in the forecast period of 2032.
Based on region, Asia Pacific is the leading consumer of Coal all across the globe. According to IEA, in 2022, the highest demand was accounted by China followed by India. The region is anticipated to maintain its dominance over the other regions in the forecast period. The Indian economy boomed and had a prominent share of global coal market. Indonesia ranked as the fifth largest consumer of coal across the globe. The Asia Pacific region is positioned to maintain its status as the preeminent consumer of coal, driven by key business factors. The region's dynamic industrialization and urbanization processes contribute to a consistent demand for energy, with coal serving as a cost-effective and abundant resource. Emerging economic powerhouses such as China and India continue to prioritize coal for its cost-efficiency and ready availability. Strategic investments in coal-fired power infrastructure underscore the region's commitment to coal-centric energy generation. Additionally, the Asia Pacific region benefits from substantial coal reserves, ensuring a secure and uninterrupted supply for energy-intensive industries. With a strategic amalgamation of sustained industrial growth, targeted infrastructure investments, and robust domestic coal resources, the Asia Pacific region is strategically positioned to remain at the forefront as the primary consumer of coal in the foreseeable future.
Based on the end-user industry, the global Coal market is segmented into Thermal Generation, Steel Production, Cement Production, and Others. Among these, Thermal Generation is dominating as a consumer, with a market share of more than 47% of the total demand in 2022. Moreover, it is expected that the Steel and Cement Production will experience a surge in the forecast period. Due to rapid urbanization and industrialization in emerging as well as developed economies, the demand for coal is increasing, which is likely to accelerate the demand for Coal, further propelling the market in upcoming years.
Significant players in the Global Coal market are China Shenhua Energy Company Limited, Coal India Limited, China Coal Energy Co., Ltd, Yanzhou Coal Mining Company Limited, BHP, NLC India Ltd, JSW Energy Limited, Singareni Collieries Company Limited (SCCL), NTPC Ltd, Jindal Steel & Power Ltd, Adani Power Ltd, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Coal which covers production, demand and supply of Coal market in the globe.
• To analyse and forecast the market size of Coal
• To classify and forecast Global Coal market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Coal market in the globe.
To extract data for Global Coal market, primary research surveys were conducted with Coal manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Coal market over the coming years.
ChemAnalyst calculated Coal demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Coal across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Coal manufacturers and other stakeholders
• Organizations, forums and alliances related to Coal distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Coal manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Coal s market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
\
Attribute
Details
Market size Volume in 2022
8.3 billion tonnes
Market size Volume by 2032
117 billion tonnes
Growth Rate
CAGR of 8.9% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in billion tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Type, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share.
Segments covered
By End-Use: (Thermal Generation, Steel Production, Cement Production, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
I am satisfied with overall performance of ChemAnalyst. Weekly updates before the final report were especially helpful and reassuring. Additional requests on the interim and/or final reports were handled in a swift and professional manner
Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
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What is the expected global market size of Coal in terms of volume for 2032?
Ans:
The global market size of Coal is expected to reach approximately 320 billion tonnes by 2032, and it is expected to further expand with a CAGR of 4.15%.
Q2.
What are the major end-use industries of Coal?
Ans:
Coal is used in a wide range of end use industries including Thermal Generation, Steel Production, Cement Production, and Others.
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