Hard Coal Market: Current Analysis and Forecast (2022-2028)

Hard Coal Market: Current Analysis and Forecast (2022-2028)

Hard coal is a dense, high-carbon coal that is primarily used as a fuel source in industrial and residential applications where other sources of heating fuel are not readily available. The global anthracite coal market has been expanding steadily in recent years, driven by increasing demand from the steel and cement industries, as well as from power producers in regions where anthracite is used as a substitute for other types of coal. However, the market is subject to challenges such as environmental concerns related to carbon emissions and regulatory restrictions on coal usage in certain regions. Despite these challenges, the anthracite coal market is expected to remain an important player in the global energy landscape.

The Hard-Coal Market is expected to grow at a strong CAGR of 26% during the forecast period owing to the increasing demand for residential and industrial heating such as cement, steel and power industries. Moreover, hard-coal demand is driven by a variety of factors, such as its superior burning properties compared to other types of coal, which make it an attractive fuel source for certain industrial processes and residential heating applications.

• 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.
• 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.
• For a better understanding of the market adoption of the hard-coal industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, France, Italy and Rest of Europe), Asia-Pacific (China, Japan, India and Rest of Asia-Pacific), Rest of World. 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.
• 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, and VostokCoal.