Albany, NY -- (SBWIRE) -- 03/20/2015 -- The global coal market is one of the most important industries of the world, with the process of industrialization depending significantly on coal. This market has been witnessing robust growth since industrialization, and the demand for coal today is by far the highest compared to any other type of fuel. A report that studies the global coal market states that this sector is anticipated to grow at a significantly high rate during the forecast period of 2012-2018.

The global coal market is often characterized by fluctuating prices and imbalances in supply. These two factors make it essential for stakeholders and coal companies to constantly monitor the latest and unforeseen changes and developments that take place in the global coal market.

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Key industries driving the global coal market

The global coal market is segmented on the basis of type, application, and geography. On the basis of types, the coal market is classified into lignite, subbituminous, bituminous, and anthracite. The various application areas in the global coal market are pharmaceutical plants, alumina refineries, carbon fiber, paper manufacturing, silicon metal production, chemical production, and activated carbon manufacturing. Until now, 41% of the global electricity generated is fueled by coal-fired power plants. Coal is a very crucial source of electricity generation and is anticipated to continue being so over the next 25 years.

As per industry estimates, it has been inferred that the segment for coking coal will witness robust growth during the forecast period of 2012 to 2018, owing to rising demand for the same from iron and steel manufacturing units. The demand for coal will also be driven by the growing need for steam generation. Cement manufacturing requires coal in the liquid form, another factor that boosts the global market. The global coal market is characterized by high domestic consumption, despite the fact that there are several countries all across the globe that depend significantly on coal imports for meeting their overall energy demands. In 2011, the quantity of coal traded all over the world was approximately 1,142 metric tons, which accounted for 15% of the total global consumption. Coal mining as a commercial activity is undertaken by almost 50 countries all over the world and 70 countries depend on coal to meet their total energy needs.

Asia Pacific rules the global coal market

What makes coal a popular industrial choice is the fact that unlike other fossil fuels, it is easily available and can be transported with convenience. Geographically, the global coal industry is categorized into Europe, Asia Pacific, North America, and Rest of the World. The largest producers and consumers of coal in the global market for the same are India, Japan, Russia, China, and the U.S. Asia alone consumes 67% of the coal that is produced globally, which makes it the largest market for coal in the world.

Within the Asia Pacific segment, the highest consumer of coal is China. Since China has huge coal reserves, the coal market in this region is primarily engaged in exploiting these in order to meet its rising energy demands. On the other hand, Asia Pacific countries such as Japan and Korea rely immensely on coal imports. The most prominent coal applications include steel manufacturing and electricity generation.

China: Dominant regional player in the global coal market

From the point of view of production, the global coal market is led by China, the U.S., India, and finally Australia. In terms of exports, the global coal market is led by Australia since this country sells 70% of the coal that it produces. Japan imports the highest quantity of coal from Australia. LNG production and coal mining are the two most important activities that contribute significantly to the Australian economy.

The global coal market is led by four main companies: China Shenhua Energy (China), Peabody (U.S.), Coal India Ltd. (India), and Rio Tinto (U.K.).

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