Authored By: Sarah
11 Jul 2024

 Foundry Coke Market Size to grow by USD 500.7 million between 2024-2028

According to a research report “ Foundry Coke Market” by Type (Pig iron, Copper, Zinc, Others) Application (Automotive parts casting, Machinery casting, Material treatment) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 500.7 million, at a CAGR of  4.36% during the forecast period. The global foundry coke market experiences significant growth, driven primarily by the expanding steel industry. Steel, a versatile material, is extensively utilized across various sectors, including construction, automotive, machinery, and appliances. The steel industry's expansion is fueled by the increasing demand for infrastructure development and population growth worldwide. In the construction sector, steel is a crucial component, driving the demand for foundry coke. Foundry coke plays a vital role in the production of pig iron, an essential intermediate product in steel manufacturing. The critical need for pig iron in the steel industry ensures a consistent demand for foundry coke.

Browse market data tables, figures, and in-depth TOC on “Foundry Coke Market” by Type (Pig iron, Copper, Zinc, Others) Application (Automotive parts casting, Machinery casting, Material treatment) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Type, the Pig iron segment is projected to dominate the market size in 2024

In the global foundry coke market, the automotive parts casting segment held a prominent position in 2023. Foundry coke serves as a vital fuel and heat source in the casting process for various metal components in the automotive industry. This application spans the production of essential automotive parts, such as engine blocks, cylinder heads, transmission housings, and other cast metal components. Foundry coke provides the essential energy required to melt and form metal alloys into intricate automotive components. The casting process entails pouring molten metal into molds, enabling it to solidify and assume the desired shape.

By Application, Automotive parts casting  segment is expected to hold the largest market size for the year 2024

In the global foundry coke market, the pig iron segment held the largest market share in 2023. Foundry coke plays a pivotal role in the production of pig iron, an essential intermediate product in the iron and steel manufacturing process. Pig iron is produced by smelting iron ore in blast furnaces, utilizing coke as both a fuel and reducing agent. Foundry coke's primary function is to generate the necessary heat and carbon for the smelting process. As a fuel, it produces high temperatures within the blast furnace, enabling iron ore to undergo various chemical reactions, ultimately resulting in the production of pig iron.

APAC is forecasted to hold the largest market size by region in 2024

The Foundry Coke market represents a significant segment within the global minerals and metals industry. As a critical input in the production of gray and white iron, foundry coke is essential for steel foundries. Its high carbon content enables effective ironmaking, ensuring the production of high-quality cast iron components. Market growth is driven by increasing demand from the automotive and construction industries, as well as ongoing infrastructure development projects. Strategic partnerships, technological advancements, and government regulations are key factors shaping the market landscape.

The Foundry Coke Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • ArcelorMittal SA
  • China Coke Group Holding Co. Ltd.
  • Drummond Co. Inc.
  • GR RESOURCE LTD.
  • HEBEI YUNAI NEW MATERIAL TECHNOLOGY CO. LTD.
  • Hickman Williams and Co.
  • Italiana Coke Srl
  • Jiangsu surung High carbon Co. Ltd.
  • Majufa Traders and Exporters
  • Nippon Coke and Engineering Co. Ltd.
  • OKK Koksovny a.s.
  • Quimica del Nalon SA
  • Richa Refractories
  • RIZHAO HENGQIAO CARBON CO. LTD.
  • Rizhao Yeneng New Energy Technology Co. Ltd
  • Sesa Goa Iron Ore
  • Shree Arihant Trade Links India Pvt Ltd.
  • Siddhi Vinayak Impex
  • Walbrzyskie Zaklady Koksownicze Victoria SA
  • Zhongrong Xinda Group Co. Ltd.
.

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Research Analysis Overview

The Foundry Coke market is a significant segment of the coke industry, primarily used in construction activities related to urbanization. The production of Foundry Coke involves extensive carbon content and high heat value, making it an essential growth-generator for the steel industry. The process of producing Foundry Coke in jumbo-ovens involves heating hard coal to high temperatures, resulting in a compact structure that is ideal for use in foundries. The extensive use of Foundry Coke in various end-user sectors, including automobile manufacturing, necessitates its production in large quantities. The automobile sector, in particular, uses Foundry Coke in the production of cast iron components, such as engine blocks and cylinder liners. The metal temperature during the Foundry Coke production process is critical to ensure the quality of the final product. The by-product recovery process is an essential aspect of Foundry Coke production, which results in the generation of valuable by-products such as Zinc, Tin, Lead, Copper, and Iron. The demand for Foundry Coke is driven by the extensive use of insulating materials like stone wool and cupolas in furnaces. The increasing coal imports and coal output are expected to boost the Foundry Coke market's growth. Despite the challenges of breakage during transportation and handling, the market for Foundry Coke is expected to remain robust due to its essential role in various industries.

Market Research Overview

The Foundry Coke Market is a significant segment of the coke industry, primarily focused on producing coke for foundries to manufacture pig iron for various end-use sectors, including automotive and machinery casting. The process involves the Beehive method, where coke is produced in non-recovery coke ovens with a smaller furnace diameter compared to metallurgical coke ovens. Furnace size and diameter are crucial factors in the production of foundry coke, which has a denser structure, extensive carbon content, and high heat value. The market's growth is driven by strategic collaborations between key players like Walter Energy and Pohang Steelworks, the construction activities, and urbanization, leading to increased demand for cast iron and steel. Foundry coke's low ash content and compact structure make it an ideal carbon source for cupolas and furnaces. Market participants are focusing on ERP Compliant Coke, Bluestone Coke, and Jumbo-ovens to enhance production efficiency and reduce environmental impact. The market's revenues are influenced by factors like formulations, metal temperature, breakage, and ash content. Coal imports and output are essential factors in the assessment period, with hard coal coke being the primary fuel source. End-user sectors like automotive parts casting, metallic coverings (ceramic, magnesium alloys, aluminum alloys, and sintered metals), and steel production are the primary consumers of foundry coke. Insulating materials like stone wool and insulation are also essential in the foundry process.

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Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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