Foundry Coke Market Research Report Information By Type (Ash Content < 8%, 8% < Ash Content < 10%, 10% < Ash Content), By Carbon Type (Metallurgical Coke, Petroleum Coke, Pitch Coke, Anthracite Coke, Others), By Metal Smelting Type (Iron Smelt

Foundry Coke Market Research Report Information By Type (Ash Content < 8%, 8% < Ash Content < 10%, 10% < Ash Content), By Carbon Type (Metallurgical Coke, Petroleum Coke, Pitch Coke, Anthracite Coke, Others), By Metal Smelting Type (Iron Smelting, Non-Ferrous Metal Smelting, Ferrous and Non-Ferrous Alloy Smelting, Steel Smelting), By Application (Machinery Casting, Automotive Parts Casting, Insulation, Material Treatment, Others), By Region Industry Forecast to 2032

The Foundry Coke Market was valued at USD 2411.19 million in 2023. The Foundry Coke Market is expected to increase from USD 2496.42 million in 2024 to USD 3614.07 million in 2032, with a compound yearly growth rate (CAGR) of 4.73% during the forecast period (2024-2032). Foundry coke is created from coal that has been heated and distillated. It is typically created using two well-known processes: byproduct recovery or non-recovery oven (also known as the beehive method).

The byproduct recovery process is largely used by foundry coke makers in the United States. Several other countries, particularly China, use the older beehive process as a major manufacturing method. Foundry coke is a type of coke that is solely used in iron foundries as a fuel source for cupola furnaces that produce molten iron. It also serves as a source of carbon for the melted product and a fuel for the iron melting process. The liquid iron produced is used to make cast iron items with diverse geometries that are then used in a variety of industries. Foundry coke is distinguished by its low ash content, high carbon content, high heating value, dense structure, high strength, and big size (compared to metallurgical coke), which allows it to be used in iron foundries. It is also less expensive than metallurgical coke due to its higher heating value. It achieves the required furnace temperature while providing superior melting in less amount and time. Foundry coke is used for a variety of purposes, including the casting of car parts, machinery, and insulation. Foundry coke is essential in the automotive sector, particularly for the manufacture of cast iron components such as engine blocks, brake drums, and cylinder heads.

Market Segment insights
The Foundry Coke Market is divided into three types based on its Ash Content: < 8%, < 8%, and < 10%.
The market has been categorized by carbon type into metallurgical coke, petroleum coke, pitch coke, anthracite coke, and others.
The market is divided into four segments based on metal smelting type: iron smelting, non-ferrous metal smelting, ferrous and non-ferrous alloy smelting, and steel smelting.
The market is divided into five segments based on application: machinery casting, automotive parts casting, insulation, material treatment, and others.

Regional insights
The Foundry Coke Market is divided into five regions: North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. In 2023, the Asia Pacific region had the greatest market revenue share of 41.99%, and it is predicted to increase at a CAGR of 4.99% from 2024 to 2032. The Asia-Pacific region dominates the foundry coke market due to its massive steel output and fast industrialization. Countries that use large-scale steelmaking operations, such as China and India, are major consumers of foundry coke. China is the world's largest producer and consumer of steel, and so has a significant impact on worldwide foundry coke consumption. This region benefits from existing infrastructure, a growing industrial base, and significant investments in steel-producing facilities. Furthermore, the Asia-Pacific countries' low production costs and abundant coal reserves position them as market leaders.

Major Players
Major participants in the Foundry Coke Market include WZK Victoria SA, OKK Koksovny, a.s., Italiana Coke s.r.l., Quimica del Nalon, GR Resource Ltd, Hickman, Williams & Company, Nippon Coke & Engineering Co., Ltd, Drummond Company, Inc., Marut Enterprises, and Sesa Goa Iron Ore.