Coal Market – Global Industry Analysis, Size, Share, Trends, Growth And Forecast, 2014 – 2020
The report divides the entire coal market into various segments that are individually dissected to bring clarity to the dynamics that exist therein.The industry of electric power generation, especially, contributes as the major reason for a constant global demand of coal market.
Currently, world consumes more than 4000 Mt of coal. It has applications in variety of sectors such as cement manufacturing, power generation and, iron and steel production. Majority of the coal is used for power generation or for iron and steel production.
Coal production is rising in Asia Pacific region whereas Europe has witnessed a decline in the production. The top five coal producing countries are the U.S., Australia, China, South Africa and India. Majority of the global coal production is utilized in the country in which it is produced, and marginal percentage of the hard coal production is deployed for the international coal market.
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Coal plays an important role in power generation and is expected to continue in future as well. It currently accounts over 35% of the world’s electricity and this percentage is anticipated to remain same for the next three decades. Asia Pacific is the biggest market for coal and presently accounts over 50% of global coal consumption. Large numbers of countries lack natural energy resources to meet their energy needs thereby generating the need to import energy to meet their needs. For instance, Korea, Chinese Taipei and Japan import huge quantities of coking coal for steel production and steam coal for power generation.
Major coal producers such as India, China and the U.S. also import large quantities of coal for quality reasons. It is expected that coal would play a vital role in the world’s energy mix. Growth is projected to be high for coking coal and steam coal especially in developing Asian countries, where demand for electricity is very high. It is traded throughout the world, with majority of the coal shipped to large distances by ships to cater the demand of the markets.
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Transportation costs constitutes for a huge share of the total price of the coal, hence international trade of steam coal is especially classified into two regional markets such as the Pacific and the Atlantic. Western Europe, U.K., Spain and Germany are included in the Atlantic market. Pacific market comprises OECD Asian importers and developing countries. Pacific market presently accounts for more than 60% of world steam coal trade.
Throughout the world, Australia is the largest exporter of coal; exporting more than 200 Mt of hard coal, out of its total production. Coal is considered to be one of the most valuable export commodities in Australia. Canada and the U.S. are significant exporters of coal and China is emerging as key important supplier of coal.
Global coal market is vast and diverse, with large numbers of players from each and every continent. Coal supplies never come from a specific area, which otherwise would make consumers dependent on stability and security of the supplies of one particular region. Coal suppliers are spread throughout the world and coal is traded in the international market.
Increasing electricity demand from developing economies and rapid industrialization are some of the key drivers of the coal market. However, huge cost required for carrying out the coal extraction can hamper the growth of the market. Large numbers of opportunities are there for the coal market owing to the increasing population throughout the world.
Some of the key companies in the business of coal are Coal India Ltd., China Shenhua Energy, Rio Tinto, BHP Billiton Ltd., Blackham Resources Limited, Pacific Coal Resources Ltd., Melior Resources Inc., Altona Energy Plc, SouthGobi Resources Limited and Anglo Pacific Group plc among others.
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