Foundry Coke Market Forecast till 2030
Market Overview
Global foundry coke market growth is anticipated to be driven primarily by the use of foundry coke in cupola furnaces. It is predicted that the global market will grow due to the rising demand for iron cast components in the automobile industry. The foundry coke market is also predicted to benefit from the growing global need for insulation materials during the forecast period. Over the projection horizon, competition from similar products is expected to slow the growth of the product market. Regulatory restrictions and negative outcomes of producing foundry coke prevent businesses from expanding.
Cast iron products are produced in various shapes and sizes using foundry coke as a fuel in cupola furnaces to make molten iron. In the automotive industry, metals account for around 80% of total vehicle weight, with plastic, rubber, glass, paint, and textiles accounting for the remaining 20%. In the automotive industry, steel, sintered metals, aluminum alloys, magnesium alloys, metal-based composite materials, and ceramic and metallic coatings are among the most commonly used metals. Cast iron goods are used to make engine parts, suspension, brakes, crankshafts, steering, gears, and bushings, among other automotive components.
Segment Overview
The type, application, and regional segments have been used to divide the global market for Foundry Coke. The global market has been divided into Ash Content < 8%, 8% < Ash Content < 10%, 10% < Ash Content based on the type of Foundry Coke. By Application segment the market is segmented into Automotive Parts Casting, Machinery Casting, Insulation, and Others.
Regional Analysis
The Foundry Coke market has been concentrated across Asia-Pacific, North America, Europe, the Center East and Africa, and South America. In Europe, the market has been separated into Germany, the United Kingdom, Russia, France, Spain, Italy, and the rest of Europe. In North America, it has been further divided into the United States and Canada. By 2021, North American markets were second in size only to those in Europe. Automobiles, chemicals, among others, have contributed to the expansion of the European market. Growth drivers for their respective regional markets are projected to be the United Kingdom and Germany during the assessment period. Because of the prevalence of small economies, Middle East and Africa's growth has slowed over the evaluation period.
Major Players
ABC Coke (Drummond) (US), CARBO-KOKS Spółka z o.o. (Poland), Industrial Química del Nalón SA (NalonChem) (Spain), Italiana Coke s.r.l. (Italy), Nippon Coke & Engineering. Co., Ltd (Japan), Wałbrzyskie Zakłady Koksownicze Victoria SA (Poland), GR RESOURCE LTD (China), Hickman, Williams & Company (US), OKK Koksovny, a.s. (UK), and Shanxi Antai Group Co., Ltd (China) are among the leading companies operating in the global Foundry Coke Market.
COVID 19 Impacts
In the foundry coke market, coal is the major raw material. During the COVID-19 crisis, foundry coke distributors are struggling and might find inspiration in the previous recession. The current scenario, however, is very different-and the stakes are much higher. Business owners and distributors have all been impacted by the COVID-19 pandemic. During the Coronavirus crisis, Indonesian coal exports reached their lowest level ever. Furthermore, during the coronavirus crisis, Indonesian coal exports fell to their lowest. Many distribution executives are stuck in a bind. The status quo could put workers in danger or give ground to suppliers who use digital technologies to directly serve customers. Nevertheless, it remains unclear how to improve most effectively. It has been more than six months since the outbreak began, and companies are still struggling to deliver value while protecting people's safety and livelihoods.
Companies Mentioned
ABC Coke (Drummond) (US)
CARBO-KOKS Spółka z o.o. (Poland)
Industrial Química del Nalón SA (NalonChem) (Spain)
Italiana Coke s.r.l. (Italy)
Nippon Coke & Engineering. Co.
Ltd (Japan)
Wałbrzyskie Zakłady Koksownicze Victoria SA (Poland)
GR RESOURCE LTD (China)
Hickman
Williams & Company (US)
OKK Koksovny
a.s. (UK)
and Shanxi Antai Group Co.
Ltd (China)
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