Foundry Coke Industry Forecast, Trends 2020 – Share, Opportunities, Growth Forecast 2026

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Foundry Coke Industry Forecast, Trends 2020 – Share, Opportunities, Growth Forecast 2026

Market Highlights

The Global Foundry Coke Market is estimated to be valued at USD 3607.95 Million by 2026 and record a CAGR of over 5% during the forecast period. Foundry coke is predominantly used as a fuel in a cupola furnace to melt cast iron in foundries. Foundry coke exhibits distinctive features that are required in the cupola furnace melting process, which is increasing its adoption in foundries. Foundry coke has lower ash content as compared to other types of coke. It is also available in large sizes (~125 mm) and has a dense structure having porosity less than 50%, which increase its optimal use in iron melting in the cupola furnace. Likewise, foundry coke has high carbon content and calorific value and hence can produce maximum heat per kg and melt in less time and less quantity. The other coke types are of smaller sizes and need to be used in large amount for attaining the required furnace temperature. Since the coke melts at lesser quantity than the others, it is economical to use. Besides, foundry coke is durable, which allows its use in the production of a wide range of products viz. both ductile and cast-iron products. It is also high in carbon and graphite content.

However, the increasing R&D over its substitute is a major restraining factor for the market. Bindered anthracite briquettes can be used as a fuel in foundry cupolas instead of conventional Foundry Coke Industry Forecast. The anthracite briquettes include fine anthracite grains that are bound together with collagen, lignin, and silicon. The binders offer strength to anthracite briquettes through the temperatures range from ambient temperature up to 1550°C, usually encountered in a foundry cupola furnace. The bindered anthracite briquettes offer similar structural strength and fuel content as conventional foundry coke. Furthermore, the production of conventional foundry coke requires about 15% of the energy of raw coal during pyrolysis and releases volatile organic air pollutants, which is harmful to the environment as well as human health. In contrast, the briquetting process consumes less energy without releasing any pollutants. Also, the iron castings produced using the bindered anthracite briquettes in a copula furnace are of similar quality as of foundry coke. Thus, the increasing preference for bindered anthracite briquettes over foundry coke is expected to hamper the global market growth during the forecast period.  

Market Players

Market Research Future (MRFR) recognizes the following companies as the key players in the global foundry coke market: ABC Coke (Drummond) (US), Erie Coke Corporation (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), GR RESOURCE LTD (China), and Shanxi Antai Group Co., Ltd (China).

Segmental Analysis

According to MRFR analysis, the global foundry coke market has been segmented based on type, applications, and region.

By type, the global foundry coke market has been categorized into ash content < 8%, 8% < ash content < 10%, 10% < ash content. Among these, the ash content < 8% segment accounted for the largest share of over 40% by value in 2018 predominantly due to the large-scale adoption of low ash coke products for automotive parts casting applications. Foundry coke as a fuel includes manufacturing and casting of automotive parts, heavy machinery, and others. The ash content < 8% segment is expected to register a CAGR of over 5% during the forecast period.

On the basis of application, the global foundry coke market has been classified into automotive parts casting, machinery casting, material treatment, insulation, process industries, and others. The automotive parts casting segment accounted for the largest share by value in 2018 due to the high demand for foundry coke in manufacturing motor blocks for diesel or other gas vehicles. These parts are manufactured in the iron foundries where foundry coke is extensively used as a fuel source.

Regional Analysis

Geographically, the global foundry coke market has been segmented into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. As per MRFR analysis, the Asia Pacific market was the dominant regional market, accounting for the largest share of over 45% in 2018 and is expected to register a CAGR of around 5.0% during the forecast period. Asia-Pacific is followed by North America, which accounted for the second-largest share of the global foundry coke market in 2018. The North American market is expected to exhibit a share of over 20% in 2018. The Latin American and the Middle East & African markets are also likely to witness considerable growth during the forecast period, 2019–2026.

Key Findings of the Study:

  • The Global Foundry Coke Market was valued at USD 2,597.4 million in 2018 and is expected to register a CAGR of 4.20% to reach around USD 3,608.0 million by the end of 2026.
  • Based on type, the ash content < 8% segment held the largest share of 5% by value in 2018 and is expected to register a CAGR of 5.07% during the forecast period.
  • By application, the automotive parts casting is estimated to be the largest segment of the global foundry coke market, which accounted for 6% value share in 2018.
  • The Asia Pacific market accounted for the largest share of 47.1% by value in 2018.

Browse Full Report Details @ https://www.marketresearchfuture.com/reports/foundry-coke-market-8214

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