ALBANY, New York, March 17, 2016 /PRNewswire/ --
Transparency Market Research has released a new market report titled "Coal Trading Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023." According to the report, global coal trading market stood at 8,086 million tonnes (MT) in 2014 and is projected to reach 10,951 million tonnes (MT) by 2023 at a CAGR of 3.43% from 2015 to 2023.
Coal trading market influences the growth of utilities, infrastructure, and manufacturing sectors across the globe. The coal trading market is estimated to expand during the forecast period owing to increase in infrastructure and power requirements in all geographies of the world. Rise in demand for power and growth in population are some of the important factors affecting the demand for coal. Coal is used in wide range of application. This includes power, steel and cement. Energy is critical to sustainable development. Coal usage supports business and industry, so that they can achieve economic growth.
Coal is traded by its caloric value through its types such as lignite, sub-bituminous, bituminous and anthracite. Anthracite has the highest caloric value and is the costliest coal. Lignite being a low grade coal has the lowest calorific value and is cheap. Increased usage of sub-bituminous is linked with its good calorific value and abundant availability. Thermal and metallurgical coal are types for bituminous coal and has a huge demand in coal trading market. Bituminous coal's high volatile content makes it ignite easily and suitable for power generation. Low cost of lignite coal makes it widely used in mid-sized power industries, where major concern is to decrease the overall cost of electricity. Major lignite based power plants are located close to mines to minimize transportation cost. Anthracite being the best coal in terms of calorific value is least available and highly priced in international market.
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The coal demand plays a vital role in power generation and is set to continue. Coal is used in variety of sectors such as in iron and steel production, and cement production etc. Rapid population growth demands more power. Price of coal is dependent on its logistics cost. Coal has to be transported to the end-user before it can be used. Transportation cost accounts for a large Share of total delivered price of the coal. Major coal fired power plants are located near to coal mines in order to minimize transportation cost. For short distances, from mine to the market, coal is transported through trucks, conveyor. For long distances, from mine to the market, coal is transported through ships and pipelines. Coal is mixed with water in order to transport it through pipelines
Growing population has resulted in energy poverty. The world currently lacks energy security and improved access to electricity. Clean coal technology usage in various applications such as coal fired power plants, carbon capture and storage can make the world's coal resource to be used in line with environmental and climate norms. Research and development activities, focusing on increasing the overall efficiency of clean coal fired power plants would be looked upon to overcome the challenge of world's energy poverty. Environmental and climate norms are focusing more on clean energy to minimize carbon emissions.
The coal trading market has been segmented on the basis of type, application and region. Bituminous held the largest share (46%), followed by sub-bituminous (32%), of the coal trading market, by coal type in 2014. In terms of region, Asia Pacific and North America accounted for nearly 47.1% and 23.9% share, respectively, of the coal trading market, by coal type in 2014. Power held the largest share (65%), followed by others (16.1%) such as paper, fertilizers, pharmaceutical, industrial heating etc., of the coal trading market, by coal type in 2014. The difference in the market share, by coal type, is attributed to high growth rate in Asia Pacific as compared to that in other regions.
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Demand for coal trading market is projected to increase significantly in the near future as coal would be utilized for the development of power, infrastructure and iron and steel industries. The coal trading market has been segmented as follows:
Coal Trading Market: By Type
Coal trading Market: By Application
- Iron & Steel
Coal Trading Market: By Region
- Rest of Europe
- South Korea
- Rest of Asia Pacific
Middle East & Africa
- South Africa
- Rest of Middle East & Africa
South & Central America
- Rest of South & Central America
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- Clean Coal Technology Market: http://www.transparencymarketresearch.com/clean-coal-technology-market.html
- Global Coal Market: http://www.transparencymarketresearch.com/coal-market.html
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