Metallurgical coal is widely used to produce coke and is known as coking coal. Its application is also high in the steel industry. Moreover, pressure and heat cause chemical and physical changes that result in carbon-rich coal. The demand for metallurgical coal is growing in with rising urbanization. Metallurgical coal is also used in manufacturing construction products and electronic devices. Its application is also high in the automotive industry. Growing use of metallurgical coal is expected to drive the demand in the global metallurgical coal market.
Moreover, when heating Metallurgical coal in coke ovens coal tar is produced. Coal tar is used to treat several skin diseases due to its anti-itching, antifungal properties, anti-inflammatory, anti-parasitic, and anti-itching. Coal tar is also widely employed in producing generic medicines. On the contrary, to these growth drivers, environmental degradation is one of the major cause limiting the growth in this market.
Get Sample Copy of this Report @
What are key strategies used by key players operating in metallurgical coal market?
The competition in the global metallurgical coal market is expected to rise significantly due to the presence of a large number of players operating in the market. Leading players are focusing on advanced business development strategies such as mergers and acquisitions, collaboration, and partnership with other players in the market. For instance, Shoal Creek Seaborne metallurgical coal mine was acquired by Peabody Energy Corp. Peabody Energy Corp is one of the leading metallurgical coal producers in the global metallurgical coal market. Another example is of a merger, which happened between Alpha Natural Resources and Contura Energy Inc.
In the above-mentioned initiatives, companies involved are likely to grow at a higher pace in the near future. It will help them in gaining a higher number of share in the global metallurgical coal market and expand its financial and geographical reach. Some of the other leading companies might also take these measures to attain their future endeavors. Arch Coal, Corondo Global Resources Inc., BHP, Teck Resources, Ram River Coal Corp., New Colombia Resources, Alpha Natural Resources, West Cumbria Mining, and Contura Energy Inc. are few other leading companies operating in the global metallurgical coal market.
Read Comprehensive Overview of Report @