Coal fell to 114.90 USD/T on August 1, 2025, down 0.22% from the previous day. Over the past month, Coal's price has risen 2.77%, but it is still 19.40% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Coal - values, historical data, forecasts and news - updated on August of 2025.

The coal market size is predicted to rise from $767.94 billion in 2024 to $1,431.38 billion by 2035, growing at a CAGR of 5.82% from 2024 to 2035.

The Report Covers Indian Coal Market Size & Share and It is Segmented by Application (Power Generation (Thermal Coal), Coking Feedstock (Coking Coal), and Other Applications). The Report Offers the Market Size and Forecasts in Terms of Volume for all the Above Segments.

The Coal Trading Market Report is Segmented by Types of Coal (steam Coal, Coking Coal, and Lignite), Types of Traders (importers and Exporters), and Geography (North America, Asia-Pacific, Europe, the Middle East and Africa, and South America). The Report Offers the Market Size and Forecasts for the Coal Trading Market in Revenue (USD) for all the Above Segments.

The global coal mining industry's market value has fluctuated greatly since 2010. The market value of coal mining during this period peaked in 2011 at ************* U.S. dollars, but declined in the following years, dropping to *********** U.S. dollars by 2020. In 2023, the market value of coal mining amounted to approximately ************* U.S. dollars.

As per Cognitive Market Research's latest published report, The South African Coal market size will be $7,235.85 Million by 2029. The South Africa Coal Industry's Compound Annual Growth Rate will be 3.36% from 2023 to 2030. Factors Affecting the Coal Market

Growing usage of coal in electricity generation: Coal dominates South Africa's domestic energy resource base. South Africa is heavily reliant on coal-fired electricity. Although most African countries are coal-free, a survey finds that South Africa still relies significantly on fossil fuel for electricity generation. Coal is the most frequently utilized primary fuel worldwide, accounting for around 36% of total fuel use in global power production. Coal provides around 77 percent of South Africa's basic energy needs. According to the Ministry of Mineral Resources and Energy, South Africa's total domestic energy-generating capacity is 58,095 megawatts (MW) from all sources. Coal is now South Africa's most important energy source, accounting for over 80% of this country's energy mix. This is continued dramatically in the near the future due to the rising need for electricity across the region. The energy consumption of South Africa is raised by 1.3%/year between 2017 and 2019. To achieve this demand, there is need for coal for electricity generation. According to the 2016 Electricity, Gas, and Water Supply Industry Report, this fossil fuel generated 85,7% of the country's electricity in 2016. Similarly, according to the Ember study, coal produced 84.4 percent of domestic electricity in 2021. As a result, South Africa's electricity-related emissions in 2021 can still surpass those of other African countries, such as Egypt and Kenya. As a result, many of the reserves can be mined at extremely low prices, and South Africa has created a substantial coal-mining sector. South Africa's coal baseload independent power producer procurement project aims to buy 2 500 megawatts of coal-fired power output by December 2021. It also intends to use funds from industrialized nations and financial organizations to construct transformers, distribution technologies, and substations. Hence, the growing usage of coal in electricity generation drives the growth of the South African coal market.

Restraint for South Africa Coal market

Difficulties associated with the coal mining: One of the major restraints hindering the growth of the coal market is the increasing operational and environmental difficulties associated with coal mining. As easily accessible coal reserves are depleted, mining companies are forced to extract coal from deeper, more geologically complex, and environmentally sensitive regions. This not only raises production costs significantly but also escalates safety risks for workers and increases the environmental impact. In regions like India and parts of Africa, for instance, coal mining has led to the displacement of communities, water contamination, and deforestation, prompting stronger opposition from local populations and environmental groups. Moreover, regulatory bodies across the globe are tightening mining guidelines, enforcing stricter air and water pollution controls, and mandating land reclamation measures. These requirements often lead to operational delays and higher compliance costs. In the U.S., several coal mines have shut down in the past decade due to a combination of lower profitability and stringent environmental regulations. Additionally, mounting scrutiny from ESG (Environmental, Social, and Governance) investors is causing financial institutions to reduce funding for coal projects. As a result, even major coal-producing nations are beginning to shift investments toward cleaner energy alternatives, making coal mining not only more difficult but also less economically viable in the long term.

Trends in the Coking Coal Market

Continued Demand from Steel Production Amid Infrastructure Expansion: Coking coal is an essential component in blast furnace steelmaking, and its demand remains robust, especially in developing nations engaged in extensive infrastructure and industrial growth. Countries such as India, China, and various Southeast Asian nations are propelling steel demand for construction, transportation, and urbanization, which consequently drives consistent consumption of metallurgical (coking) coal. In spite of worldwide decarbonization initiatives, conventional steelma...

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Metallurgical Coal Market Size 2025-2029

The metallurgical coal market size is forecast to increase by USD 99.6 billion at a CAGR of 4.8% between 2024 and 2029.

The metallurgical coal market is propelled by rising global steel demand, particularly in Asia Pacific, where infrastructure projects and smart city initiatives drive significant consumption. Technological advancements, such as 3D mine visualizers and proximity detection systems, enhance mining efficiency, supporting market growth. In North America, steady demand stems from automotive and construction sectors, while Europe's market thrives due to steel production in countries like Germany and Russia. Sustainability trends push for high-quality coal to support efficient, eco-friendly steel production. However, the volatility in prices of metallurgical coal, influenced by supply and demand dynamics and geopolitical factors, poses a significant risk for market participants.

Companies seeking to capitalize on the opportunities presented by this market must adopt strategic sourcing and pricing strategies. Additionally, investments in technological advancements, such as automation and mechanization, can help improve operational efficiency and reduce costs. Overall, the market offers substantial growth potential for companies able to navigate the price volatility and adapt to evolving market conditions.

What will be the Size of the Metallurgical Coal Market during the forecast period?

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The market encompasses the production and trade of coal used primarily in steel manufacturing. This market exhibits dynamic behavior, influenced by various factors. High-sulphur utilization and medium-ash applications in iron ore smelting remain significant drivers, while price fluctuations in thermal coal markets can impact metallurgical coal demand. Environmental concerns, including air pollution and mining safety, necessitate continued innovation in mining industry practices and technologies. Mining resources and reserves, mining sustainability, and mining equipment automation are essential considerations for market participants. Steel industry outlook, infrastructure development, and sustainable infrastructure projects, such as bridge construction and commercial space development, shape demand for metallurgical coal.
Renewable energy alternatives and sustainable mining practices are gaining traction, potentially impacting the market's future direction. Mining project management, equipment maintenance, and mining investment are crucial elements in the metallurgical coal supply chain. Steel production technology advancements and iron ore smelting processes continue to evolve, influencing the market's size and direction. The transportation and logistics sector plays a vital role in delivering coal to consumers, ensuring efficient and cost-effective solutions. Mining industry outlook remains positive, driven by the ongoing demand for steel and infrastructure development.

How is this Metallurgical Coal Industry segmented?

The metallurgical coal industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Steel making
  Non-steel making


Type

  Hard coking coals
  Semi-soft coking coals
  Pulverized coal injection
  Medium Coking Coal


End-User

  Iron and Steel Industry
  Chemical and Pharmaceutical
  Foundry Industry
  Non-Steel Production
  Power Industry


Geography

  APAC

    China
    India


  North America

    US
    Canada


  Europe

    France
    Germany
    Russia
    UK


  Middle East and Africa

    UAE


  South America

    Brazil


  Rest of World

By Application Insights

The steel making segment is estimated to witness significant growth during the forecast period.

Metallurgical coal plays a crucial role in steel manufacturing as it is the primary input for coke production in the blast furnace process and the electric arc furnace (EAF) route. Steel production, a key indicator of economic development, saw a 3.3% increase in global crude steel output to 145.5 million tons (Mt) in November 2023, according to the World Steel Association. Concurrently, the global apparent steel use per capita surpassed 200 kilograms, marking an over 10% rise. Both steel manufacturing processes, BF-BOF and EAF, necessitate metallurgical coal. While the former requires substantial volumes, the latter demands lower quantities.

The steel industry's growth is driven by infrastructure development, urbanization, and the increasing demand for construction, high-grade steel for various industries, and premium hard coking coal for medical applications. The market dynamics are influenced by factors such as coal quality standards, sustainable mining practices, carbon footprin

BCC Research Market Report for coal market is estimated to grow from $1.5 tln in 2022 to more than $2.3 tln by 2027 with a compound annual growth rate (CAGR) of 8.6%.

Coal miners have endured a rollercoaster of challenges and opportunities, marked by fluctuating coal prices and a shifting demand landscape. Coal miners faced severe disruptions during the COVID-19 pandemic, only to recover with a notable recovery as economies reopened. Coal miners have faced a domestic versus international demand dichotomy as infrastructure investments have boosted domestic steel production. Yet, cleaner production methods have hindered the growth of coal from domestic sources. Consequently, domestic coal miners have increasingly sought international markets, with countries like India and China being key export destinations, capitalizing on these regions' heavy reliance on coal for power generation and steel production. Still, recent tariffs on US energy by China may hinder this source of growth, with coal miners increasingly leaning on India as an export market. Industry revenue has been increasing at a CAGR of 8.2% over the past five years to total an estimated $30.4 billion in 2025, including an estimated decrease of 0.1% in 2025. It should be noted that this strong growth was because of a low base year in 2020 when coal prices and production plummeted. Coal miners have navigated through a period of intense volatility. While production dipped as the world staggered under the weight of the pandemic, a surge in demand and prices in 2021 and 2022, spurred by the reopening of the economy and an energy crisis because of Russia's invasion of Ukraine, catalyzed a spike in revenues for coal miners. However, normalizing prices and the domestic market have progressively contracted because of a continued shift towards renewable energy sources. This has resulted in consolidation within the industry, shrinking the number of operating coal mines and concentrating market power in the hands of larger companies. Looking ahead, coal miners anticipate navigating both challenges and opportunities over the next five years. Coal miners will continue to look to export markets for growth despite potential headwinds from global environmental policies and increasing renewable energy adoption. Domestically, the push towards clean energy technologies and the expanding role of electric arc furnaces in steel production will place additional pressure on coal demand. Still, potential upticks in steaming coal consumption, driven by rising natural gas prices and heightened energy needs from burgeoning manufacturing and tech sectors, may provide a reprieve. The merger between Consol Energy and Arch Resources might further reshape industry dynamics, potentially enhancing pricing power and operational efficiencies and prompting competitors to innovate to remain viable. Also, the recent executive order by President Trump may revitalize coal mining. Industry revenue is forecast to climb at a CAGR of 0.4% to total an estimated $31.0 billion through the end of 2030.

The global thermal coal market is a mature but dynamic industry experiencing a complex interplay of factors influencing its growth trajectory. While facing headwinds from environmental concerns and the global push towards renewable energy sources, the market continues to demonstrate resilience, driven primarily by persistent demand from developing economies in Asia, particularly China and India, for electricity generation. The market size in 2025 is estimated at $150 billion, with a Compound Annual Growth Rate (CAGR) of 2% projected from 2025 to 2033. This moderate growth reflects a balance between ongoing reliance on coal for baseload power and increasing efforts to transition to cleaner energy sources. The ongoing energy crisis and geopolitical instability have, however, provided temporary support to coal prices, pushing up market values and potentially extending its lifecycle beyond initial projections. This has resulted in increased investments in new mining capacities, especially in regions with substantial coal reserves and less stringent environmental regulations.
The market segmentation reveals key trends. The power generation segment remains the dominant application, consuming the vast majority of thermal coal. Lignite and long-flame coal are the leading coal types due to their widespread availability and suitability for power plants. However, the emergence of stricter environmental regulations and carbon emission reduction targets is gradually shifting the industry landscape. This includes a greater focus on improving coal combustion technologies to reduce emissions, as well as exploration of carbon capture, utilization, and storage (CCUS) methodologies. Key players in the market are diversifying their portfolios and increasingly focusing on sustainable practices to mitigate environmental concerns and ensure long-term market viability. The geographical distribution of the market shows strong concentration in Asia, with North America and Europe representing smaller, but still significant, market segments.

The Report Covers the China Coal Market Outlook and is Segmented by Applications (power Generation (thermal Coal), Coking Feedstock (coking Coal), and Other Applications). The Report Offers the Market Size and Forecasts for Coal in Revenue (USD) for all the Above Segments.

According to Cognitive Market Research, the global Coking Coal market size is USD XX million in 2024 and will expand at a compound annual growth rate (CAGR) of 5.00%from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD XX million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.
Middle East and Africa held the major market ofaround 2% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
The Steel Production held the highest Coking Coal market revenue share in 2024.

Key Drivers of Coking Coal Market

Growing Demand from Steel Industry to Increase the Demand Globally: The steel industry is a major consumer of coking coal, using it as a primary raw material in the production of steel. As the global economy continues to recover from the impacts of the COVID-19 pandemic, the demand for steel is expected to rise, driven by infrastructure development, construction projects, and the automotive sector. This increasing demand for steel is expected to boost the demand for coking coal, as it is an essential component in the steelmaking process. Additionally, the shift towards electric arc furnaces (EAFs) in steel production, which also require coking coal, is expected to further drive the demand for coking coal in the coming years.

Growing Urbanization and Industrialization to Propel Market Growth: Rapid urbanization and industrialization in emerging economies such as China, India, and Brazil are driving the demand for steel and, consequently, coking coal. As these countries continue to invest in infrastructure development, the demand for steel for construction, transportation, and manufacturing purposes is expected to increase. This trend is particularly pronounced in the construction of skyscrapers, bridges, and other infrastructure projects that require large quantities of steel. The growing middle class in these countries is also driving demand for consumer goods, automobiles, and appliances, all of which require steel, thus boosting the demand for coking coal.

Restraint Factors of Coking Coal Market

Environmental Concerns and Regulations to Limit the Sales: One of the key restraints in the coking coal market is the increasing environmental concerns associated with coal mining and steel production. The mining and burning of coal releases greenhouse gases and other pollutants into the atmosphere, contributing to air and water pollution and climate change. In response to these concerns, governments around the world are implementing stricter environmental regulations and emissions standards, which could increase the cost of coal production and limit its use in steelmaking. Additionally, the growing awareness of environmental issues among consumers and investors has led to a shift towards cleaner and more sustainable energy sources, potentially reducing the demand for coking coal in the long run.

Trends of Coking Coal Market

Ongoing Demand from Steel Production in Light of Infrastructure Expansion: Coking coal is an essential component in blast furnace steel production, and its demand remains robust, especially in developing nations engaged in extensive infrastructure and industrial projects. Countries such as India, China, and those in Southeast Asia are propelling the demand for steel in construction, transportation, and urban development, which consequently drives consistent consumption of metallurgical (coking) coal. In spite of worldwide decarbonization initiatives, conventional steelmaking reliant on coking coal is anticipated to retain a significant share in the near to mid-term.

Growing Emphasis on Low-Emission Steelmaking Technologies: Environmental regulations and the imperative to lower carbon emissions are encouraging the steel sector to investigate low-emission alternatives, including...

The Indonesia Coal Production Market is segmented by Application (Electricity, Iron and Steel Industry, and Other Applications). The report offers the market size and forecasts for Indonesia Coal Market in revenue (USD Billions) for all the above segments.

The global coal price index reached 140.02 index points in June 2025. This was an increase compared to the previous month, which also reflected a rise in the overall fuel energy price index. The global coal index expresses trading of Australian and South African coal, as both countries are among the largest exporters of coal worldwide. How coal profited from the 2022 gas crunch Throughout 2022, coal prices saw a significant net increase. This was largely due to greater fuel and electricity demand as countries slowly exited more stringent coronavirus restrictions, as well as fallout from the Russia-Ukraine war. As many European countries moved to curtailing gas imports from Russia, coal became the alternative to fill the power supply gap, more than doubling the annual average price index between 2021 and 2022. Main coal traders and receivers Although China makes up by far the largest share of worldwide coal production, it is among those countries consuming the majority of its extracted raw materials domestically. In terms of exports, Indonesia, the world's third-largest coal producer, trades more coal than any other country, followed by Australia and Russia. Meanwhile, Japan, China, and India are among the leading coal importers, as these countries rely heavily on coal for electricity and heat generation.

Metallurgical Coal Market Outlook

The global metallurgical coal market size was valued at approximately $210 billion in 2023 and is projected to grow to $340 billion by 2032, exhibiting a compound annual growth rate (CAGR) of around 5.5% over the forecast period. This significant growth factor is driven by the increasing demand for steel across various industries, particularly in developing economies, which is a critical factor propelling market expansion. The burgeoning infrastructure development projects and the rising automotive production are key contributors to this growth trajectory.

One of the primary growth factors of the metallurgical coal market is the escalating demand for steel production. Steel is an essential material used in construction, automotive, and manufacturing industries. With global urbanization and industrialization trends, particularly in emerging economies in the Asia Pacific region, the need for steel has surged, thereby increasing the demand for metallurgical coal. Moreover, technological advancements in steel production processes, which require high-quality coke derived from metallurgical coal, are further bolstering market growth.

Another critical growth driver is the robust expansion of the automotive industry. Automobiles require a substantial amount of steel for manufacturing, and as the global population continues to grow, so does the demand for vehicles. The shift towards electric vehicles (EVs) also plays a role, as EV production involves a considerable quantity of high-strength steel. This trend is expected to sustain the demand for metallurgical coal, as steel producers ramp up their production capacities to meet the automotive sector's needs.

Furthermore, the push towards infrastructure development across the globe is significantly contributing to the market's expansion. Governments in various regions are investing heavily in infrastructure projects, such as bridges, railways, and buildings, which necessitate large quantities of steel. For instance, China's Belt and Road Initiative and India's Smart Cities Mission are prime examples of large-scale infrastructure projects driving the demand for metallurgical coal. These projects not only stimulate immediate demand but also ensure long-term market stability.

The regional outlook indicates that Asia Pacific remains the dominant market for metallurgical coal, accounting for the largest share. This dominance is due to the presence of major steel-producing countries like China, India, and Japan, which are continually expanding their steel production capacities. North America and Europe also hold significant market shares, driven by technological advancements and infrastructure renewal projects. Meanwhile, Latin America and the Middle East & Africa are showing promising growth potential owing to their emerging steel industries and increasing industrial activities.

Thermal Coal, distinct from metallurgical coal, plays a crucial role in global energy production. It is primarily used for electricity generation in power plants, where it is burned to produce steam that drives turbines. Despite the global shift towards renewable energy sources, thermal coal remains a significant energy source, particularly in developing countries where infrastructure for alternative energy is still evolving. The demand for thermal coal is influenced by factors such as energy policies, economic growth, and technological advancements in power generation. As countries strive to balance energy needs with environmental concerns, the role of thermal coal in the energy mix continues to be a topic of debate and strategic planning.

Grade Analysis

The metallurgical coal market is segmented by grade into Hard Coking Coal, Semi-Hard Coking Coal, Semi-Soft Coking Coal, and Pulverized Coal Injection (PCI). Hard Coking Coal (HCC) is the most sought-after grade due to its superior coking properties, which are essential for producing high-quality coke used in steel production. HCC commands a premium price in the market, and its demand is primarily driven by the steel industry's need for high-strength, durable steel products. The limited availability of high-quality reserves and the complexities involved in mining further elevate its market value.

Semi-Hard Coking Coal (SHCC) and Se

Raw Coal Market Outlook

The global raw coal market size was valued at approximately $700 billion in 2023 and is projected to reach around $930 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 3.2%. This growth is driven by increasing energy demands and industrialization in emerging economies. The rising consumption of coal in power generation and steel production, coupled with advancements in coal mining technologies, are primary factors fueling the market's expansion. Additionally, the demand for raw coal in various industrial applications continues to grow, contributing significantly to the overall market size.

Several growth factors are propelling the raw coal market. Firstly, the robust demand for electricity in developing regions like Asia Pacific and Africa necessitates the use of thermal coal in power plants. Countries with rapid industrial growth, such as China and India, rely heavily on coal-fired power generation to meet their energy needs. Despite global shifts towards renewable energy, coal remains a critical energy source due to its availability and cost-effectiveness. Furthermore, advancements in coal mining technologies have made coal extraction more efficient and environmentally sustainable, thus encouraging its use.

Secondly, the steel production industry significantly contributes to the demand for coking coal. Steel is an essential material in construction, automotive, and various other industries, and coking coal is a crucial input in the steelmaking process. Economic growth and urbanization in emerging markets drive infrastructure development and construction activities, thereby increasing the demand for steel. Consequently, the need for coking coal is expected to remain strong in the foreseeable future. Additionally, the development of new steel production technologies that rely on coal as a feedstock further supports market growth.

Another growth factor is the increasing application of coal in cement manufacturing. Coal is used as a primary fuel in cement kilns due to its high energy content. The construction industry's expansion, particularly in developing countries, leads to higher cement consumption, thereby driving the demand for coal. Moreover, the introduction of policies favoring domestic coal production in various countries aims to reduce reliance on imports, thus supporting local coal industries. These policies, coupled with investments in coal mining infrastructure, are expected to boost market growth.

In the realm of mineralogy, Coalingite is a rare mineral that might not be widely recognized but plays a niche role in the broader context of coal-related geology. Coalingite is a secondary mineral that forms in the oxidation zones of nickel-bearing ultramafic rocks. Its presence can provide insights into the geological processes that occur in coal-rich regions, particularly those involving nickel deposits. Understanding the formation and characteristics of Coalingite can be crucial for geologists studying the mineralogical composition of areas rich in coal and nickel, offering a deeper understanding of the environmental conditions that lead to its creation.

Regionally, Asia Pacific dominates the raw coal market, accounting for the largest share of global consumption. The region's extensive industrial base, rapid urbanization, and significant investments in infrastructure projects contribute to high coal demand. Additionally, the presence of major coal-producing countries like China, India, and Australia ensures a steady supply of raw coal to meet regional requirements. North America and Europe are also significant markets, although their growth rates are comparatively lower due to a gradual shift towards renewable energy sources and stringent environmental regulations. Nevertheless, coal remains a vital component in their energy mix and industrial processes.

Type Analysis

The raw coal market is segmented by type into coking coal, thermal coal, and others. Each type has distinct applications and demand drivers. Coking coal, also known as metallurgical coal, is primarily used in steel production. It has unique properties that make it suitable for use in blast furnaces, where it acts as a reducing agent to convert iron ore into steel. The demand for coking coal is closely tied to the steel industry's performance, which in turn depends on economic growth and infrastructure development. As global construction and manufacturing activities rise, the demand for coking coal is expected to follow

Global Coal Mining Market is projected to reach USD 961.8 billion by 2034, with a 1.9% CAGR from 2025 to 2034.

Global Coal market size is expected to reach $726.06 billion by 2029 at 2%, segmented as by type, bituminous coal, sub-bituminous coal, lignite, anthracite

Global Metallurgical Coal market size is expected to reach $17.89 billion by 2029 at 4%, metallurgical coal market surge fueled by soaring steel demand

THERMAL COAL MARKET SIZE AND FORECAST 2025 TO 2033

The thermal coal market pertains to the segment of the coal industry that focuses on the production and distribution of coal primarily used for electricity generation and heat production. Thermal coal, also known as steam coal, is characterized by its high carbon content and energy density, making it a vital resource for power plants [https://www