With special focus on anthracite coal, its demand has increased massively in the last few years.
Anthracite coal use has increased mainly in the construction, infrastructure, and industrial sector. On top of that, rapid growth in the demand for anthracite coal by the steel manufacturers is further augmenting growth in the mined anthracite coal market. They are focusing on the use of anthracite coal more than compared to coke is because of its similar carbon content and low price that results in economical steel production.
Regionally, the global mined anthracite coal market is growing in Asia Pacific region. Rapid development seen in the industrial sector and booming construction industry in leading economies in the region is major reason behind this growth. Asia Pacific having huge population base for which they require power generation at immense rate has further strengthened growth of the mined anthracite coal market in this region. This factor has also opened new growth opportunities for power generation manufacturers as well.
Additionally, the requirement for ultra-high grade mined anthracite coal is more as compared to the standard grade; this spike growth in the product will result in demand for superior quality of anthracite coal for the production of steel. Australia, China, Vietnam, and South Korea possess geographical advantage, and they are also among the key exporters of anthracite coal. These factors has encourages market players based in these countries to take advantage of technological intelligence that will further improve production rates.
The mined anthracite coal market to witness incremental opportunity close to US$10.8 billion
As the mined anthracite coal market seems to grow positively in the coming years, Transparency Market Research has produced a new report in which all the major factors influencing the market growth are discussed in detail. In terms of revenue growth, the report states that the global mined anthracite coal market will earn approximately US$68.8 billion by the end of 2027. This figure is substantially higher than US$58 billion that was earned in 2018. The growth rate is projected to be near 2% over the projected tenure from 2019 - 2027.
Keeping these figures in intact, the incremental opportunity in the global mined anthracite coal market is close to US$10.8 billion during the forecast period. With these estimates and growth avenues seen in this market, report gives more insights on the critical aspects that will help the players and stakeholders to grow during this period.