Global Foundry Coke Market Research Report Forecast to 2026

Global Foundry Coke Market: Information by Type (Ash Content < 8%, 8% < Ash Content < 10%, 10% < Ash Content), Application (Automotive Parts Casting, Machinery Casting, Insulation and others) and Region - Forecast till 2026

Market analysis


Generally, foundry coke is a completely used type of coke in iron foundries as a foundation of fuel in the cupola heaters to produce molten iron. Besides, it functions both as a fuel to dissolve iron and as a source of carbon for the melted product. The subsequent molten iron is used to make various geometries of cast iron products, which then find applications across various end-use industries. Foundry coke is produced by the heating and distillation of coal. It is generally shaped worldwide using one of two well-known procedures: the byproduct recovery process and the non-recovery oven process (or beehive process). In the US, the foundry coke inventers mostly use the significance recovery process. The older beehive process is used in several other nations, including China, as a major construction method. The distinguishing topographies of foundry coke that allow its usage in iron foundries are its low ash content, high carbon content, high heating value, dense structure, high strength, and large size (than metallurgical coke), which is best suited for the cupola furnace. It is also very cost-effective when likened to metallurgical coke since it attains the required furnace temperature and provides better melting at are lesser quantity and reduced time owing to its tall heating value. Foundry coke finds use in varying applications, including automobile parts casting, machinery casting, insulation, and others. The Global Foundry Coke Market is predictable to record a CAGR of 4.20% to reach around USD 3608.0 Million by the end of 2026. Though, prevalent research and development have resulted in the introduction of substitutes of foundry coke, which is expected to detain the growth of the global foundry coke market during the forecast period.

Market segmentation


The Global Foundry Coke Market has been segmented by type, application and by region. The surging demand for insulation materials diagonally the world is expected to provide growth impetus to the players operating in the foundry coke market during the forecast period. Based on application, the automotive parts casting segment held the largest market share of 52.6% in 2018 and is probable to register a CAGR of over 4.5% by the end of 2026. Foundry coke is used to melt iron in the cupola furnace of iron foundries, the ensuing iron is then used to produce cast iron of various shapes, sizes, and geometries. The cast iron finds vast request in the automotive industry to form automotive molding components such as engine parts, suspension, brakes, crankshaft, steering, gears, and bushings, among others. The expanding automotive industry across the globe due to increasing per-capita income, increasing consumer purchasing power, changing lifestyles, and growing economies are contributing to the demand for cast iron automotive components, and thus in turn driving the global foundry coke market. The adoption of electric vehicles in the near-term years is also likely to increase the growth of the product market to some amount during the forecast period. Though, the availability of supernumerary is expected to confine the growth of the product market during the forecast period. The challenging factors for the market players are the adverse effects associated with foundry coke production and severe regulatory standards. The submission of foundry coke in cupola furnace is expected to be the primary factor driving the growth of the global foundry coke market. The high demand for iron cast machineries in the automotive industry is also expected to fuel the growth of the global market. By type, the global foundry coke market has been segmented into ash content < 8%, 8% < ash content < 10%, and ash content >10%. Ash content is the weight of the incombustible residue. Based on type, the ash content < 8% segment dominated the global foundry coke market in 2018 with a market share of 44.5% registering a CAGR of over 5% during the forecast period. The foundry coke with less than 8% ash content leaves less residue upon combustion, which in turn drops the cost of waste organization by the producers. Low ash gratified coke is also very beneficial for the environment, as the coke with less ash content produces less pollution upon burning. Due to these factors this segment is expected to witness a significant growth owing to its superior properties as compared to the other two.

Regional analysis


Geographically, Global Foundry Coke Market is split in regions like North & Latin America, Europe, Asia-Pacific, Middle east and Africa and Rest of the world. North America was the second-largest regional market in 2018 due to the development of the automotive industry along with the application of foundry coke in material treatment. Rapid development in the region is pouring the demand for cast iron components in the end-use businesses such as automotive, chemical, oil & gas, food & beverages, agriculture, healthcare, and others, which in turn is fueling the growth of the product market in the region. China is the significant producer and consumer of foundry coke worldwide. The country held the market portion of 25.6% of the global foundry coke market in 2018 and is expected to grow at a CAGR of over 5.5% during the said forecast period. The regional market is projected to record a CAGR of 3.43% during the forecast period. US settled for an advanced market share by nation in 2018 and is expected to register the highest CAGR of over 4.0% during the review period. The Asia-Pacific market conquered the global foundry coke market with a share of 47.1% in 2018 and is expected to show a alike growth progress throughout the forecast period. Though, Canada in 2018 and is expected to display a CAGR of around 2.0% respectively.

Major players


The proposed spectators in the Global Foundry Coke Market are coke manufacturers, Retailers, distributors, wholesalers, Investors and trade experts, Governments, associations, industrial bodies, etc. The major companies functioning in the Global Foundry Coke Market are concentrating on firming their global ways by entering into untouched markets. The projected onlookers in the Global Foundry Coke Market are companies like Erie Coke Corporation (US), CARBO-KOKS Spółka z o.o. (Poland), Industrial Química del Nalón SA (NalonChem) (Spain), Nippon Coke & Engineering. Co., Ltd (Japan), ABC Coke (Drummond) (US), GR RESOURCE LTD (China), Shanxi Antai Group Co., Ltd (China) and Italiana Coke s.r.l. (Italy).

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