World Anthracite Consumption Expected to Reach $68.8 Billion by 2027

TAccording to an article appearing in the October 2019 issue if the “World Coal,” global anthracite coal consumption is expected to reach $68.8 billion by 2027.
Additionally, the article states that anthracite coal use around the world has increased mainly in construction, infrastructure and the industrial sector. Further demand for mined anthracite has been increased by steel manufacturing plants. Steel manufactures are turning to anthracite as a less expensive replacement for coke.

Regionally, the global anthracite coal market is growing in Asia Pacific region. Rapid development seen in the industrial sector and booming construction industry in leading economies in the region is major reason behind this growth. Asia Pacific nations have an enormous and growing population base which increased demand for energy and consumer products. This ongoing demand has opened new growth opportunities for power generation manufacturers as well.

Additionally, the requirement for ultra-high-grade mined anthracite coal is more as compared to the standard grade; this spike growth in the product will result in demand for superior quality of anthracite coal for the production of steel. Australia, China, Vietnam, and South Korea possess a geographical advantage to meet this increased demand and they are also among the key exporters of anthracite coal.

As the mined anthracite coal market seems to grow positively in the coming years, Transparency Market Research has produced a new report in which all the major factors influencing the market growth are discussed in detail. In terms of revenue growth, the report states that the global mined anthracite coal market will earn approximately $68.8 billion by the end of 2027. This figure is substantially higher than $58 billion that was earned in 2018. The growth rate is projected to be near 2% over the projected tenure from 2019 – 2027.

Keeping these figures in intact, the incremental opportunity in the global mined anthracite coal market is close to $10.8 billion during the forecast period. With these estimates and growth avenues seen in this market, report gives more insights on the critical aspects that will help the players and stakeholders to grow during this period.

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