Foundry Coke Market Research Report Information By Type (Ash Content < 8%, 8% < Ash Content < 10%, 10% < Ash Content) Application (Automotive Parts Casting, Machinery Casting, Insulation, Others) Forecast 2030

Foundry Coke Market Overview

The foundry coke market size is projected to be worth USD 3.14 billion by 2030, registering a CAGR of 3.91% during the forecast period (2022–2030). The market was valued at USD 2.23 billion in 2021.

The key driver fueling the expansion of the global foundry coke market is the exclusive use of foundry coke in cupola furnace as a result of its features. An additional factor driving the worldwide foundry coke market is the increasing demand for the material due to its increasing use in the production of automotive cast components, as well as the rise of the automotive sector around the world.

It is anticipated that the key driver driving the expansion of the global foundry coke market would be the use of foundry coke in cupola furnaces. The global market is predicted to develop because of the rising demand for iron cast components in the automobile sector. During the foreseen time period, the foundry coke market is also predicted to benefit from the rising need for insulation materials worldwide. However, competition from similar products is anticipated to slow the product market throughout the projection horizon. Negative consequences from producing foundry coke and strict regulatory criteria are impediments to business expansion.

COVID-19 Impact on the Foundry coke Market:

Coal is the major raw material of the foundry coke market. Distributors of foundry coke are struggling during the COVID-19 crisis and may look at the previous recession for guidance. However, the current scenario is different in many ways—and the stakes are much higher. For distributors and businesses of all kinds, the COVID-19 pandemic has made life immensely difficult. Coal is utilized as an intermediary by various sectors, including sponge iron, steel, paper, cement, and brick kilns, in addition to being the country's principal source of energy. Coal production in 2020-21 was 337.52 million tons (MT), down 3.3 percent from the previous year. In 2019-20, coal imports totaled 248.54 MT, up 5.7 percent from 2018-19. In terms of dollars, coal imports fell to USD 9.7 billion in 2020-2021, down from USD 15.6 billion in 2019-20.

Furthermore, during the coronavirus crisis, Indonesian coal exports fell to their lowest. When comparing export levels from 2015 to 2020, exports have already fallen below average in February and March 2020. Many distribution executives are stuck in a bind. Keeping things as they could put staff in danger or give ground to suppliers who are increasingly using digital technologies to directly service customers. However, the most effective ways to improve remain unknown. Companies are still struggling to deliver value while protecting people's safety and livelihoods more than six months into the outbreak.

The majority of distributors seeing significant drops in demand are in the industries most affected by physical separation and government-recommended isolation requirements. Companies in these areas are just trying to survive a crisis that no one could have predicted, and their survival strategies are becoming considerably more inventive. However, the impact was not uniform; states that better controlled epidemics were able to bring furnaces back online faster, whilst those that required lengthy social distance lost more productivity. Fortunately, China was in the leading category in terms of worldwide met coke production. By mid-2020, estimates predicted only a 1% reduction in hot metal manufacturing use for the entire year.

Market Dynamics

• High Demand For Cast Iron In The Automotive Industry
  
  
  
  • Foundry coke is primarily used as a fuel in cupola furnaces to make molten iron, which is subsequently cast to produce various cast iron products in several forms and sizes. Metals account for around 80% of total vehicle weight in the automotive industry, with plastic, rubber, glass, paint, and textiles account for the remaining 20%. Steel, sintered metals, aluminum alloys, magnesium alloys, metal-based composite materials, and different ceramic and metallic coatings are among the most regularly used metals in the automotive industry. Cast iron goods are used to make engine parts, suspension, brakes, crankshafts, steering, gears, and bushings, among other automotive components. Although cast iron components are heavier than steel, aluminum, and other composite metals, they have a number of advantages, including remarkable dimensional stability, which makes design easier in automotive automotive industry, excellent vibration absorption, high durability, cost-effectiveness, and recyclability. The global automotive sector is predicted to rise due to rising per capita income, improved living standards, and increasing automobile manufacturing, which is expected to enhance demand for cast iron and, as a result, promote the expansion of the global foundry coke market during the forecast period.
  
  
  
  

• Availability Of Substitutes
  
  
  
  • Extensive R&D has resulted in the introduction of substitutes of foundry coke, which is expected to restrain the growth of the global foundry coke market during the forecast period. Bindered anthracite briquettes can be used as a fuel in foundry cupolas instead of conventional foundry coke. The anthracite briquettes include fine anthracite grains that are bound together with collagen, lignin, and silicon. 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 similar to 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.
  
  
  
  

• Growing Demand For Insulation Materials Across The Globe
  
  
  
  • The demand for insulation materials is growing at a significant rate across various end-use industries worldwide. Foundry coke is used as a source of fuel in stone wool manufacturing, which is a highly versatile and effective insulation material. The raw material used to produce stone wool is slag (slag, itself, is generated by integrated iron and steel plants as a blast furnace byproduct from pig iron production; other sources of slag include copper, lead, and phosphate industries), or the mixture of slag and rock (basalt or dolomite). The manufacturing process of stone wool involves loading foundry coke in alternate layers with the raw material (slag or rock) in the ratio of 1:5-6 parts in a cupola furnace. The slag is heated to the molten state at 1,300–1,650°C as the coke is ignited and burned in a cupola furnace. The process also uses the supply of combustion air through tuyeres located near the bottom of the furnace. The molten mineral charge exits through the cupola furnace into the water-cooled trough and is then introduced onto a fiberization device, which transforms the molten material into fibers. Thus, the growth in the demand for insulation materials is likely to create lucrative opportunities for players operating in the global foundry coke market during the forecast period.
  
  
  
  

• Adverse Effects Associated With Foundry Coke Production On The Environment And The Stringent Regulatory Standards
  
  
  
  • Foundry coke plays a vital role in the manufacturing of cast iron products. The growth in the production of foundry coke has raised concerns over its potential impacts on the air and water quality and potential exposure to toxic substances. Hazardous air pollutants (HAPs) include gases that are generated when molds containing carbon materials are subjected to high temperatures. Moreover, the major companies producing foundry coke are facing lawsuits due to the violation of environment control standards. For instance, on 28 February 2019, Drummond Company, Inc, the largest producer of foundry coke in the US, agreed to pay USD 0.775 million to settle benzene air pollution violations put forth by the US Environmental Protection Agency and the Jefferson County Board of Health. Thus, the hazardous effects of foundry coke production on the environment and the stringent regulatory standards are expected to be the major challenge for the market players.
  
  
  
  

Segmentation

By Type

• Ash Content < 8%


• 8% < Ash Content < 10%


• 10% < Ash Content

By Application

• Automotive Parts Casting


• Machinery Casting


• Insulation


• Others

Regional Analysis

The global market for foundry coke is segmented into the following regions: Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa.

China, Japan, India, South Korea, Malaysia, Indonesia, Australia & New Zealand, and the Rest of Asia-Pacific make up the various segments of the Asia-Pacific market. In 2021, Asia-Pacific accounted for 45.85% of the worldwide foundry coke market, and this share is only predicted to increase over the next few years. Rapid industrialization in the region is fueling the expansion of the product market by increasing demand for cast iron components in end-use industries like the automotive, chemical, oil & gas, food & beverages, agricultural, healthcare, and others. When it comes to foundry coke, China dominates both the production and consumption markets. In 2021, China accounted for 56.03% of the Asia-Pacific market; by 2024, that percentage is expected to rise to 56.4%.

The European market has been broken down into Germany, the United Kingdom, Russia, France, Spain, Italy, and the rest of Europe, while the North American market has been further divided into the United States and Canada. In 2021, the North American market was second only to Europe in terms of size. End-user industries like automotive, chemicals, and others have contributed to Europe's expanding market. During the assessment period, the United Kingdom and Germany are projected to be growth drivers for their respective regional markets. Growth in the Middle East and Africa has stalled over the evaluation period, likely because the region is developing slowly due to the prevalence of small economies.

Competitive Landscape

The global foundry coke market is expected to showcase healthy growth throughout the forecast period. The global market represents strong numbers in terms of consumption and is expected to grow year on year. The global foundry coke market is fragmented in nature with several organized and unorganized players operating in the market.

The competitive landscape provides an examination of the most important changes made by international corporations over the past three years. Forecasts show that rising demand from the automotive sector will propel the worldwide foundry coke market forward. Major drivers driving market expansion include the expanding automotive sector, increased demand for machinery casting, and increasing sales of passenger vehicles. In terms of consumption, the market is substantial and is forecast to expand each year. Major competitors in the worldwide foundry coke market have carved out sizeable niches for themselves by specialising in certain product lines. The expansion of their production capabilities is a top priority for them.

ABC Coke (Drummond), CARBO-KOKS Spółka z o.o., Industrial Química del Nalón SA (NalonChem), Italiana Coke s.r.l., Nippon Coke & Engineering. Co., Ltd, Wałbrzyskie Zakłady Koksownicze Victoria SA, GR RESOURCE LTD, Hickman, Williams & Company, OKK Koksovny, a.s., and Shanxi Antai Group Co., Ltd, are the key players operating in the global foundry coke market.

Tier-1 and tier-2 players with leaders such as Drummond Company, Inc., Nippon Coke & Engineering. Co., Ltd, Shanxi Antai Group Co., Ltd, and OKK Koksovny, a.s. hold the largest share of the global foundry coke market due to their years of experience in the field, wide variety of products, robust revenue base, and extensive global distribution network.Some of the key developments include:

• In October 2021, Bluestone Coke announced it will temporarily suspend coke production at its Birmingham facility so that repairs could be made and safety standards could be raised. Almost all of the current staff will be kept on to oversee the refurbishment and upkeep. Bluestone purchased the ERP Coke facility in North Birmingham in the month of July 2019. At the time of takeover, the facility had been experiencing financial difficulties and was on the point of shutdown.


• May 2021 The governor of Virginia has pledged $50 million to a foundry coke manufacturer in Buchanan County. According to a press statement from the governor's office, SunCoke Energy, Inc. plans to make upgrades to its facility in Buchanan County.


• Paul Wurth and the SMS crew made a deal with PSCO, a steel manufacturer in South Korea. It was with the goal of establishing Coke Oven Plant 6 at Pohang steelworks that they decided to form an alliance. To begin in 2023, construction of the new Coke Oven Plant was scheduled.

Report Overview:

The foundry coke market is segmented by type, application, and region in the report. In terms of insights, this report has focused on various levels of analysis such as market dynamics, value chain analysis, Porter's five forces, competitive landscape, and company profiles—all of which comprise and discuss views on the global foundry coke emerging and fast-growing segments, regions, and countries.

Objectives of the Study

• To get a comprehensive overview of the global foundry coke market


• To get wide-ranging information about the key factors driving the market and market opportunities


• To gain information regarding the key players in the industry, their product portfolio, strategies, and key developments


• To gain insights into the key country/region in which the market is growing

Intended Audience

• Power Generation Companies


• Automotive Companies


• Transportation Companies


• Casting Companies


• Insulation Manufacturers


• Research Institutes


• Academic Institutes


• Government Organizations