Transparency Market Research Report Added "Coal Market" to its database.
Albany, NY -- (SBWIRE) -- 01/28/2015 -- The global coal market study analyzes one of the most important energy sources in the world since industrialization. Since 2000, the global coal market has grown faster than that of any other fuel type. The analysis of this report indicates that the status quo of the market will be maintained through the next five years. Besides drivers and inhibitors, opportunity analysis is an important aspect of this market study.
For the most part, electricity generation throughout the world still relies on the availability of coal. However, this market continues to reel under price volatility and instability in supply. This makes it imperative for market players and stakeholders to keep close tabs on the latest and anticipated developments in the global coal market.
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Global Coal Market Overview
Despite the growing prominence of renewable and green energy sources, coal-fired power plants still produce about 41% of all electricity globally. Given that coal is the single most important source of power generation—and is expected to remain so at least till 2040—it becomes imperative to understand the dynamics of the coal market. Over the next decade coking coal will witness escalating demand in steel and iron production. Steam generation is yet another area that will spur considerable demand. This fossil fuel is also in demand cement manufacturing and as a liquid fuel. Globally, 76% of all coal produced is consumed by five countries: China, USA, Russia, India, and Japan.
Despite many countries relying on coal imports to meet their energy generation needs, the trend of domestic consumption continues to remain strong. In 2011 alone, about 1142 metric tons of coal was traded worldwide, which translates into 15% of global consumption. About 50 countries undertake commercial coal mining, and 70 countries still rely on this fossil fuel for a large chunk of their energy requirements. Coal still remains ahead of the race as compared to other fuel types because it is readily available and is easier to transport.
Coal Trading to Determine Market Growth Rate
Asia stands as the largest coal market in the world, consuming a whopping 67% of all coal produced globally. Within APAC, China is the single largest consumer of coal. While China has massive coal reserves and is exploiting these to meet its energy sufficiency objectives, the same cannot be said about other countries such as Korea and Japan as they still rely heavily on imports.
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Applications Driving the Coal Market
Electricity generation and steel production are undoubtedly the most prominent applications of coal. Coal is also integral to applications such as: alumina refineries, paper manufacturing, pharmaceutical plants, chemical production units, carbon fiber and activated carbon manufacturing, and silicon metal production.
Australia: The Largest Supplier of Coal
Australia ranks fourth in the world from the coal production standpoint, following China, the U.S., and India (in that order). However, Australia is the largest exporter of coal as it sells about 70% of its coal produce. The country accounts for nearly half of the global coal exports.
Japan is among the largest buyers of coal from Australia. Coal mining and LNG production continue to remain a stronghold of the Australian economy. While Australian coal exports were hit on account of typhoons in 2011 (making Indonesia the largest coal exporter that year), the country has since regained its status as a prominent coal exporter globally.
Leaders in the coal market
The four largest companies in the global coal market, by sales volume, are Peabody (U.S.), Rio Tinto (UK), Coal India Ltd. (India), and China Shenhua Energy (China).
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