Foundry Coke Market

The global foundry coke market is projected to witness healthy growth during the forecast period, 2019–2026. The market was valued at USD 2,597.4 million in 2018 and is projected to register a CAGR of 4.20% to reach USD 3,608.0 million by the end of 2026. In terms of volume, the market was sized at 7,951.0 thousand tons in 2018 and is likely to exhibit a CAGR of 2.55% to reach 9,724.6 thousand tons by the end of 2026. The exclusive use of foundry coke in cupola furnace owing to its properties is the primary factor driving the growth of the global foundry coke market. Additionally, the increasing application of foundry coke in the manufacturing automotive cast component coupled with the expanding automotive industry across the globe is also contributing to the growth of the global foundry coke market. Furthermore, the growing demand for insulation across the globe is likely to provide lucrative growth opportunities for the players operating in the global foundry coke market during the forecast period. However, the availability of substitute is likely to hamper the growth of the global market in the coming years.

According to Wantstats analysis, the global foundry coke market has been segmented based on type, applications, and region. Based on type, the global market has been divided into ash content < 8%, 8% < ash content < 10%, and ash content >10%. The ash content < 8% segment accounted for the largest share of 44.5% in 2018 due to its high demand by consumers to meet stringent environmental regulatory standards. The segment was valued at USD 1,154.7 million in 2018; it is expected to register a CAGR of 5.07% to reach USD 1,715.4 million by the end of 2026. In terms of volume, the segment was sized at 3,223.0 thousand tons in 2018 and is projected to exhibit a CAGR of 3.72% to reach 4,317.2 thousand tons by the end of 2026.

By application, the global foundry coke market has been classified into automotive parts casting, machinery casting, insulation, and others. The automotive parts casting segment dominated the global foundry coke market with a market share of 52.6% by value in 2018 due to the pivotal role of iron cast products manufactured using foundry coke in the expanding global automotive industry. The segment was valued at USD 1,366.1 million in 2018; it is expected to register a CAGR of 4.69% to reach USD 1,970.5 million by the end of 2026. In terms of volume, the segment was sized at 4,224.8 thousand tons in 2018 and is projected to exhibit a CAGR of 2.94% to reach 5,324.2 thousand tons by the end of 2026.

Asia-Pacific held the largest market share of 47.1% in 2018 due to rapid industrialization in the region. The market was valued at USD 1,223.4 million in 2018 and is expected to exhibit a CAGR of 5.00% to reach USD 1,807.4 million by the end of 2026. In terms of volume, the regional market was sized at 4,119.0 thousand tons in 2018 and is projected to register a CAGR of 3.31% to reach 5,343.3 thousand tons by the end of 2026.