Hard Coal Market: Current Analysis and Forecast (2022-2028)
Emphasis on Grades (Ultra-High Grade, High Grade and Standard Grade); Mine (Surface Mine, Slope Mine, Shaft Mine, and Drift Mine); and Region/Country
Hard-Coal market was valued at USD 59.0 billion in 2021 & is expected to grow at a CAGR of 5.0% from 2022-2028. Hard coal is a high-quality, low-ash, and low-sulphur coal that is used as a fuel in industries. The demand for hard coal is growing globally due to its increasing use in the cement, steel, and metal industries. In the steel industry, hard coal is used as a fuel in the blast furnace to produce pig iron, which is then used to make steel. The high carbon content of hard coal makes it an ideal fuel for the steel industry, as it produces a high-quality and consistent quality of pig iron. In the cement industry, anthracite is used as a fuel to produce heat and energy. The high heat value of hard coal makes it an ideal fuel for the cement industry, as it can produce high temperatures required for the production process. In the metal industry, hard coal is used as a fuel in the smelting process of metals such as copper, lead, and zinc. The high heat and carbon content of hard coal make it an ideal fuel for this process, as it helps to produce high-quality metals with fewer impurities. In addition to these industries, hard coal is also used as a fuel in power generation, particularly in countries like Japan, Korea, and Taiwan, where it is used as a fuel for power plants.
Some of the major players operating in the market include Blaskchak Coal Corporation, Lehigh Natural Resources, Jeddo, BHP Billiton, Reading Anthracite Company, Henan Energy and Chemical Industry Group, Feishang Group, Robindale Energy & Associated Companies, Atlantic Coal Plc, VostokCoal. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst grades, the ultra-high segment held a dominating share of the market in 2021.”
Based on grades, the market is segmented into ultra-high grade, high grade and standard grade. The ultra-high grade segment holds a significant market share during the forecast period owing to its higher specific energy along with the lower ash content. Also, the increasing demand from the steel industry is expected to support market growth in the coming time. In addition, ultra-high grade (UHG) anthracite represents the highest quality of anthracite coal, with very high carbon content and very low impurities. This makes it a preferred fuel source for certain industrial processes, particularly in the metallurgy sector.
“Amongst mine, the shaft mine register significant CAGR during the forecast period”
Based on the mine, the market is segmented into surface mine, slope mine, shaft mine, and drift mine. The shaft mine segment is expected to register a significant CAGR during the forecast period. Hard coal that is extracted from underground shaft mines is of a higher quality and purity than coal that is obtained through other methods such as strip mining. The quality of anthracite coal is crucial for certain industries, particularly in the metallurgy sector, where it is used as a fuel source for smelting and other high-temperature processes. Additionally, underground shaft mining is generally considered to be safer than other types of mining since exposure to the surface elements and hazards such as landslides, cave-ins, and toxic gases is minimized.
“Asia-Pacific dominated the hard coal market in 2021.”
The Asia Pacific hard coal market plays a significant role in the global energy landscape. Hard coal is a sought-after fuel source for certain industrial processes and residential heating applications due to its superior burning properties. In particular, the steel and cement industries are major consumers of hard coal in the region, driving demand for high-quality coal such as the ultra-high grade (UHG) variety. For instance, according to IEA, China is the leading producer of hard coal in the year 2021 with a production of 3,771 million metric tons of hard coal which is followed by India with 778 metric tons and Indonesia with 554 million metric tons. However, challenges facing the hard coal market, such as environmental concerns related to carbon emissions and regulatory restrictions on coal usage will impact the market growth in the region.
Hard Coal Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global HARD COAL market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Hard Coal Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global hard coal market were the three major steps undertaken to create and analyze the adoption of hard coal in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global hard coal market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the hard coal market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the hard coal market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report such as grades and mine. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the hard coal market. Further, we conducted factor analysis using dependent and independent variables such as grades and mine of the hard coal market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the hard coal market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global hard coal market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the hard coal market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global hard coal market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Primary research input was consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global hard coal market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the grades and mine in the global hard coal market.
The main objective of the Global Hard Coal Market Study
The current & future market trends of the global hard coal market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the hard coal market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the grades and mine.
- Define and analysis of the regulatory framework for the hard coal
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the hard coal market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the hard coal market and the growth strategies adopted by the market players to sustain in the fast-growing market.
- Deep dive regional level analysis of the industry
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