PUBLISHER: Market Research Future | PRODUCT CODE: 1619005
PUBLISHER: Market Research Future | PRODUCT CODE: 1619005
Global 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 Forecast to 2032
In 2023, the market for foundry coke was estimated to be worth USD 2411.19 million. The industry for the Foundry Coke Market is expected to expand at a compound annual growth rate (CAGR) of 4.73% from 2024 to 2032, from USD 2496.42 million to USD 3614.07 million. Heat-treated and distilled coal is used to make foundry coke. Two well-known methods are typically used to make it: non-recovery oven (also known as the beehive process) and byproduct recovery.
In the United States, the byproduct recovery process is mostly used by foundry coke makers. A number of other nations, including China, use the more traditional beehive method as a primary production methodology. Foundry coke is a type of coke that is exclusively utilized in iron foundries to produce molten iron in cupola furnaces. It also acts as a fuel for melting iron and a source of carbon for the melted product. The created liquid iron is used to make cast iron objects with different geometries that are used in different sectors. Iron foundries can employ foundry coke because of its unique properties, which include low ash content, high carbon content, high heating value, dense structure, high strength, and huge size (compared to metallurgical coke). Because of its high heating value, it is also more economical than metallurgical coke. It produces improved melting in less time and quantity while reaching the necessary furnace temperature. Applications for foundry coke include the casting of machinery, insulation, and automobile parts. In the automotive sector, foundry coke is essential, especially for the manufacturing of cast iron parts including cylinder heads, brake drums, and engine blocks.
Perspectives on Market Segments
The market has been divided into three segments based on type: Ash Content < 8%, 8% < 10%, and 10% < Ash Content for Foundry Coke.
The market has been divided into five segments based on the kind of carbon: petroleum, pitch, anthracite, metallurgical, and others.
The market is divided into four segments based on the kind of metal smelting: steel smelting, ferrous and non-ferrous alloy smelting, non-ferrous metal smelting, and iron smelting.
The market is divided into segments based on application, including material treatment, insulation, automotive parts casting, machinery casting, and others.
Regional Perspectives
North America, Europe, Asia-Pacific, the Middle East & Africa, and South America make up the regions that make up the Foundry Coke Market. With the greatest market revenue share of 41.99% in 2023, the Asia Pacific area is predicted to rise at a compound annual growth rate (CAGR) of 4.99% from 2024 to 2032. Because of its enormous steel production and quick industrialization, the Asia-Pacific region dominates the foundry coke industry. Due to their extensive steel-making operations, nations like China and India are major users of foundry coke. China has a significant impact on the demand for foundry coke worldwide since it is the world's largest producer and consumer of steel. This area benefits from a well-established infrastructure, a growing industrial base, and significant investments in steel-producing facilities. The Asia-Pacific area is also in the forefront because to its large coal reserves and lower production costs.
The major participants in the Foundry Coke Market include Hickman, Williams & Company, Nippon Coke & Engineering Co., Ltd., Drummond Company, Inc., Marut Enterprises, Italiana Coke s.r.l., Quimica del Nalon, GR Resource Ltd., OKK Koksovny, a.s., WZK Victoria SA, and Sesa Goa Iron Ore.