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Global Bituminous Coal Market InsightApril 8, 2022 Comments
Global bituminous coal is forecast to 11.7% over the next five years. According to the WK-chem Research, “Global Bituminous Coal Professional Survey Report 2022, Forecast to 2027”, increasing demand for metal from various industries is anticipated to drive the demand for bituminous coal during the forecast period as bituminous coal is used to power the kilns. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 11.7% base on WK-chem Research regression analysis model.
“Bituminous coal is extensive employed to generate electricity in coal-fired power plants. Renewable sources of energy are increasingly being used to generate electricity; however, coal is still extensively used as a major source of energy for electricity generation. This is encouraging companies to invest more in exploration of new coal reserves, which in turn is anticipated to drive the bituminous coal market in the near future.”, said Petty Baker, Data Analyst, in WK-chem Research.
The demand within the global bituminous coal is rising at a stellar pace, majorly due to advancements in geosciences. The abundant availability of bituminous coal across specific regions has led to the increased popularity of this soft coal. The use of asphalt across several industrial processes and chemical experiments has shifted the focus towards the use of bituminous coal. Furthermore, depending on the grade of plasticity, bituminous coal can be subjected to several chemical reactions. The low ash content produced by bituminous coal has helped in studying its properties on a large scale. Therefore, the global bituminous coal market is expected to follow an ascending trajectory of growth in the years to follow.
The use of bituminous coal in power-generation across a wide array of industries has gathered the attention of environmentalists. This usage has drawn flak for its adverse impacts on the ecosystems and the immediate environment.
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading bituminous coal companies that include: China Shenhua, Datong Coal Mine, China Coal Energy, JZEG, Shanxi Coking Coal Group, Guizhou Panjiang Refined Coal, Shenhuo, Alliance Holdings GP, L.P., Alpha Natural Resources, inc., Arch Coal, Evergreen Energy, International Coal Group.
Segmentation of Bituminous Coal Market:
According to the type, the market for bituminous coal is divided into: smithing coal, cannel coal, and cooking coal. The cooking coal has the largest market share. The cooking coal segment is estimated to expand at a considerable pace in the next few years due to the rise in requirement for electricity in developing economies such as China, India, and Brazil.
According to the application, the market for bituminous coal is divided into: power generation, cement manufacturing, and steel making. The power generation has the largest marker share. The power generation segment is estimated to expand at a considerable pace during the forecast period due to consistent use of bituminous coal in the thermal power plants across the globe.
Bituminous Coal Market: Regional Analysis
In terms of geography, the global bituminous coal market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. Asia Pacific and North America are anticipated constitute major share of the global bituminous coal market during the forecast period. The bituminous coal market in Asia Pacific is likely to expand at a significant pace due to the rise in per capita income in developing economies such as China and India. Rise in per capita income is increasing the spending power of consumers. This, in turn, is estimated to propel the demand for electricity in Asia Pacific. Additionally, increasing use of bituminous coal in the cement manufacturing industry fuels the bituminous coal market in the region. Middle East & Africa is expected to be an attractive region for the bituminous coal market during the forecast period due to the rise in demand for bituminous coal to manufacture steel in the region.
Largest share area：Asia Pacific
largest share country：China
Product Type：Smithing Coal, Cannel Coal, and Cooking Coal.
Application：Power Generation, Cement Manufacturing, and Steel Making.
Leading Company：China Shenhua, Datong Coal Mine, China Coal Energy, JZEG, Shanxi Coking Coal Group,