USD 60.0 billion
Report ID: SQMIG10B2016 | Region: Global | Published Date: December, 2022 | Pages: 165 | Tables: 64 | Figures: 65
Anthracite Coal Mining Market was valued at USD 60.0 billion in 2021, and it is expected to reach a value of USD 81.65 billion by 2028, at a CAGR of 4.5% over the forecast period (2022-2028).
The demand for anthracite coal, which has the lowest impurities and highest calorific value, is rising globally, driving up the cost of mining anthracite coal. Anthracite is a more effective fuel since the residue produced after its combustion contains fewer pollutants and produces little smoke when compared to other types of coal. The anthracite coal mining industry around the world is continuously changing and developing due to new alliances, purchases, or entry of new players. The traditional producers and suppliers are redirecting supply to domestic users and concentrating on imports, which represents a fundamental shift in the Anthracite Coal Mining Market for mineral resources. In nations like China and India, anthracite is the preferred ULV (ultralow volatile) and PCI (pulverized coal injection) product that is put directly into the blast furnace.
The World Steel Association estimates that anthracite coal provides roughly 89% of the energy input for a blast furnace (BF)-basic oxygen furnace (BOF), followed by electricity (7%), natural gas (3%), and other gases and sources (1%). In the case of the Electric Age Furnace (EAF) approach, energy input from anthracite amounts to 11%, electricity to 50%, natural gas to 38%, and other sources to 1%. In 2019, the US produced 706,310 thousand short tons of coal, of which 2,611 thousand short tons was anthracite. Some of the major factors affecting coal are the cost, convenience, and availability of coal relative to competing fuels. Countries like China, the US, Russia, Australia, Vietnam, North Korea, and Ukraine have evenly distributed anthracite production. Some of the key players in this market include Bathurst Resources, Cokal, Attila resources, Carabella Resources, Tigers Realm, Jameson Resources, Aspire Mining, Carbon Sales Inc., Hudson Anthracite, and State Industries Inc.
US Anthracite Coal Mining Market is poised to grow at a sustainable CAGR for the next forcast year.
Global Market Size
USD 60.0 billion
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The Global anthracite coal mining market is segmented based on grade, mines, and Region. Based on grade, the Anthracite Coal Mining Market is segmented into standard grade, Ultra grade, and ultra-high grade. Based on mines, the Anthracite Coal Mining Market is segmented into Shaft mines, drift mines, Slope mines, and surface mines. Based on region, the global anthracite coal mining market is segmented into North America, Europe, Asia-Pacific, Latin America, and MEA.
Anthracite Coal Mining Market Analysis by Grade
The anthracite coal mining market is segmented into normal, high, and ultra-high grades based on grade. The ultra-high-grade segment is anticipated to expand with a sizable Anthracite Coal Mining Market share over the projected period because of the strong demand from the steelmaking industry. Anthracite of the ultra-high grade has greater specific gravity and is tougher than other anthracite grades. Compared to other types of charcoal, it has fewer volatile chemicals. Ultra-high-grade anthracite has a very low ash content when compared to other varieties, which makes it burn more efficiently.
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The global anthracite coal mining market is split into the major regions of Latin America, North America, the Middle East and Africa, Asia Pacific, and Europe. The Asia Pacific region is predicted to lead the global market for anthracite coal mining based on geographic segmentation. In this area, industrial development is advancing quickly, and the construction sector is seen to be increasing tremendously. Additionally, Asia Pacific has the largest population density and a broad base of population. With such a large population base, huge electricity generation is required. The Anthracite Coal Mining Market for anthracite coal mining is expected to develop as a result of the high electricity demand. China, South Korea, Australia, Vietnam, and Australia are a few of the top anthracite coal exporters. During the time of the evaluation, all of these variables are anticipated to benefit the global market for anthracite coal mining.
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Anthracite Coal Mining Market Driver
Anthracite Coal Mining Market Restraint
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The anthracite coal mining market's level of competition serves as a representation of the Anthracite Coal Mining Market and its state. The positive and negative effects of the many components are the primary cause of the market's expansion. The market is getting bigger and there are more opportunities for market expansion thanks to many important providers. The Anthracite Coal Mining Market value during the period will be impacted by additional growth drivers. Many important firms are paying attention to market trends for mining anthracite coal. To make the market segments better options, the companies try to keep up with the prevailing trends. The prestigious and well-known Anthracite Coal Mining Market sellers are Vostok Coal, Robindale Energy Services, Inc., Atrum Coal Ltd, Siberian Anthracite, and Atlantic Coal Plc.
Anthracite Coal Mining Market Top Players' Company Profiles
Anthracite Coal Mining Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected through Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the demand for anthracite coal, which has the lowest impurities and highest calorific value, is rising globally, driving up the cost of mining anthracite coal. Anthracite is a more effective fuel since the residue produced after its combustion contains fewer pollutants and produces little smoke when compared to other types of coal. The ultra-high-grade segment is anticipated to expand with a sizable Anthracite Coal Mining Market share over the projected period because of the strong demand from the steelmaking industry. The Asia Pacific region is predicted to lead the global Anthracite Coal Mining Market for mined anthracite coal-based on geographic segmentation. In this area, industrial development is advancing quickly, and the construction sector is seen to be increasing tremendously.
|Market size value in 2021||USD 60.0 billion|
|Market size value in 2028||USD 81.65 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Anthracite Coal Mining Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Anthracite Coal Mining Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQMIG10B2016