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Metallurgical Coke Market Segment Analysis – By Application
The steel industry held the largest share in the metallurgical coke market in 2020 and is growing at a CAGR of 5.8% during 2021-2026. Most metallurgical coke is used to reduce iron ore to iron in iron and steel industry processes such as sintering plants, blast furnaces, and foundries. Coke is used mostly to produce iron, which, in turn, is used in steel as the main ingredient. The global production of steel relies on coal, with 70% of the steel made using coal. Metallurgical coke is a porous, fissured, silver-black solid and is an important part of the iron-making process as it provides the carbon (C) and heat necessary for the processing of hot metal in the blast furnace (BF) to chemically reduce the iron load (HM). A key ingredient in the method of steel making is metallurgical coal or coking coal. According to the World Coal Association (WCA), world crude steel production was 1.8 billion tonnes in 2018. Thus, the incr