In 2020, the worldwide thermal coal consumption volume was some 6.8 billion short tons. It is expected that thermal coal consumption volume will increase over the coming years. The estimated volume of thermal coal consumption for the year 2050 is around 8.06 billion short tons.

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.

Newcastle thermal coal had an average price forecast of 130.80 nominal U.S. dollars per metric ton for 2024, as of June and July 2024. During the period in consideration, the forecast presents a trend of continuous decrease. By the end of 2028, Newcastle thermal coal price is expected to drop to 102.80 nominal U.S. dollars per metric ton. The Newcastle (NEWC) thermal price for coal is the benchmark for seaborne coal contracts within the Asia-Pacific region, which is home to the largest coal producing countries.

Coal decreased 28.50 USD/MT or 22.75% since the beginning of 2025, 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 March of 2025.

The thermal coal forecast examines the future trends and patterns in the thermal coal market, considering factors such as energy demand, environmental regulations, economic conditions, technological advancements, and supply-side dynamics.

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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 market is driven by the increasing demand for steel and the rise in several smart city projects, leading to an increase in consumption of coal. However, the market faces challenges such as volatility in metallurgical coal prices due to supply and demand imbalances. To mitigate this, coal blending and coal characterization through techniques like coal washing, coal property analysis using vitrinite reflectance and petrography, and coal reserve exploration are crucial.
Coal washing enhances coal quality by removing impurities, while coal characterization provides insights into coal's caking index, thermal maturity, and carbonization properties. Fossil carbon's role in the coal industry is significant as it is a critical feedstock in steel manufacturing and carbonization processes. The demand-supply gap in the market necessitates efficient coal production and utilization strategies.

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How is this market segmented and which is the largest segment?

The market 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


End-User

  Construction
  Transportation
  Health Care
  Agriculture
  Others


Geography

  APAC

    China
    India
    Japan


  North America

    Canada
    US


  Europe

    Germany
    UK
    France


  Middle East and Africa

    UAE


  South America

    Brazil

By Application Insights

The steel making segment is estimated to witness significant growth during the forecast period. Metallurgical coal plays a crucial role in the steel industry, serving as the primary feedstock for coke production in steelmaking processes. The BF-BOF (Basic Oxygen Furnace-Blast Furnace) and EAF (Electric Arc Furnace) routes are the two primary methods for producing steel. In the BF-BOF process, large quantities of metallurgical coal are required to produce carbon-rich coke, which is essential for reduction of iron ore and the production of pig iron. In contrast, the EAF process uses scrap metal and requires lower volumes of metallurgical coal for anaerobic heating. While both methods contribute to steel production, the BF-BOF process was the dominant method used in 2020.

Furthermore, the consumption of steel is often used as an economic development indicator, and this growth in steel production highlights the ongoing economic recovery. The various types of metallurgical coal, including anthracite, bituminous coal, sub-bituminous coal, and lignite, are utilized based on their carbon content and caking ability in the steelmaking process.

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The steel making segment was valued at USD 160.30 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 85% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional market trends and drivers that shape the market during the forecast period.

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The market in the Asia-Pacific (APAC) region is projected to expand at a faster pace compared to other regions, driven by the significant demand from the steel industry. Factors such as industrialization and infrastructure growth in developing countries like China and India are fueling the demand for steel, which relies on metallurgical coal as a primary raw material for its production. With the rapid urbanization of cities in Asia, the need for steel is high for infrastructure development. Metallurgical coal, with its high carbon content, is essential for producing carbon-rich coke required for coking processes in steelmaking. In 2023, China, Australia, Indonesia, and India were the leading contributors to the growth of the market in APAC.

Furthermore, the demand for this coal type is particularly high in countries like China, which is the world's largest consumer and importer of metallurgical coal. The primary use of these in APAC is for electricity generation and household heating, as well as anaerobic heating and the production of pig iron from iron ore. The caking ability of metallurgical coal is crucial for its use in the steel industry, ensuring the successful production of high-quality iron and steel products.

Market Dynamics

Metallurgical coal, also known as coking coal, plays a vital role in the steelmak

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.

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 the 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 these 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, growing usage of coal in electricity generation drives the growth of the South Africa coal market.

Restraint for South Africa Coal market

Difficulties associated with the coal mining.(Access Detailed Analysis in the Full Report Version)

Opportunity for South Africa Coal market

Technological advancement in coal mining.(Access Detailed Analysis in the Full Report Version)

Introduction of Coal

Coal is a sedimentary deposit that is mostly constituted of carbon and is easily combustible. Coal is black or brownish-black in colour and contains more than 50 percent carbonaceous material by weight and more than 70 percent by volume.

Coal is made up of delicate plant matter that goes through a number of transformations before becoming the recognizable black and gleaming material that is burnt as fuel. Over millions of years, coal goes through many degrees of carbonization and can be found in various stages of development in different places of the world.

Coal is a plentiful natural resource that can be used for electricity, as a chemical source for a variety of synthetic chemicals (such as colours, oils, waxes, medicines, and insecticides), and for the creation of coke for metallurgical operations. Coal is a primary source of energy for steam generation, which is used to generate electricity.

The report has segmented South Africa coal market into types such as Lignite (brown coal), SubBituminous, Anthracite, and Bituminous as well as application such as electricity, industrial, chemistry, families and individuals.

The South Africa is extensively relied on the coal production as it is major source for electricity generation. The region also engaged in the export activities that raises the demand for coal market in South Africa.

Asia Pacific Coal Market is segmented by End User (Power Station (Thermal Coal), Coking Feedstock (Coking Coal), and Others) and Geography (China, India, Indonesia, and Rest of Asia-Pacific).

The price of thermal coal is determined by factors such as supply and demand, production costs, environmental regulations, and the availability of alternatives. This article provides an overview of these factors and discusses major global thermal coal price indices. It also highlights the price volatility and uncertainties surrounding the future outlook for thermal coal prices.

Seaborne thermal coal price refers to the cost of thermal coal that is transported by sea or waterways. This article explores the factors affecting the price, including supply and demand dynamics, transportation costs, and macroeconomic conditions. It also discusses the use of price indexes and benchmarks in tracking the price of seaborne thermal coal, as well as recent trends and future outlook. The article highlights the importance of considering geopolitical and economic risks when making coal-related in

Thermal coal prices can fluctuate due to various factors, such as supply and demand dynamics and environmental concerns. This article examines the recent trends in thermal coal prices, including the impact of the COVID-19 pandemic and the shift towards cleaner energy sources. It also explores the factors that influence thermal coal prices and discusses the future outlook for the industry.

The size of the Japan Coal Market is growing at a steady rate, reflecting impressive expansion over the past few years. It is expected that substantial growth will take place in the forecast period spanning 2024 to 2031.

Japan Coal Market Dynamics

The key market dynamics that are shaping the Japan Coal Market include:

Key Market Drivers

Strong Dependence on Coal-fired Power Plants: Japan’s coal market is still being driven by its heavy reliance on coal-fired power plants for baseload energy supply. According to the Ministry of Economy, Trade, and Industry (METI), coal-fired power plants generated around 31% of Japan’s total electricity in 2023, with an installed capacity of 48.9 GW. Despite environmental concerns, the requirement for a dependable power supply keeps coal a major component of Japan’s energy landscape.

The worldwide thermal coal supply volume was some 6.8 billion short tons in 2020. A steady increase is expected to be seen with regard to thermal coal supply over the coming years. The estimated volume of thermal coal supply worldwide for the year 2050 is around 8.06 billion short tons.

China is the leading consumer of thermal coal worldwide. Thermal coal consumption in the country was 3.7 billion short tons in 2020 and is forecast to fall to 3.4 billion short tons by 2050. In the OECD region, The United States has the highest thermal coal consumption, at 448 million short tons in 2020. Most regions and countries are expected to see a reduction in thermal coal use, with the notable exception of India, Russia, and the African continent.

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Coal Mining Market Size 2025-2029

The coal mining market size is forecast to increase by USD 86.3 billion at a CAGR of 2.6% between 2024 and 2029.

The market is experiencing significant growth due to the adoption of advanced electricity generation technologies that increase the efficiency and productivity of coal-fired power plants. Another trend influencing the market is the usage of liquid coal as fuel and for electricity generation, which enhances coal's versatility and competitiveness. In addition, lignite resources and undersea mining are emerging trends in the market, offering the potential for increased production and efficiency. Furthermore, the rise In the adoption of renewable energy sources is driving the market towards the development of cleaner coal technologies to reduce carbon emissions and improve sustainability. These factors, among others, are shaping the future of the coal mining industry.

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The market plays a significant role In the global energy sector, supplying coal as a primary fluid fuel for power generation and steel manufacturing. Coal is a crucial component In the production of coke, a key coking feedstock, and in generating heat energy for various industries. The power generation segment, including thermal power stations and coal-fired power plants, dominates the market's consumption. However, environmental concerns surrounding coal mining activities and the increasing demand for renewable energy sources pose challenges to market growth. Despite these challenges, supportive government policies and the continued need for coal in steel production and electricity generation, particularly In the residential, commercial, public services, and transport sectors, ensure a steady demand for coal.
Moreover, thermal coal and coking coal remain the primary types of coal mined, with thermal coal primarily used for electricity generation and coking coal for steel manufacturing. The market's dynamics are influenced by various factors, including electricity demand, environmental pollution regulations, and the transition towards renewable energy generation.

How is this Coal Mining Industry segmented and which is the largest segment?

The coal mining 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.

Method

  Underground mining
  Surface mining


End-user

  Thermal power generation
  Cement manufacturing
  Steel manufacturing
  Others


Geography

  APAC

    China
    India


  South America

    Brazil
    Argentina
    Chile
    Colombia


  North America

    Canada
    US


  Middle East and Africa



  Europe

By Method Insights

The underground mining segment is estimated to witness significant growth during the forecast period.

The underground coal mining segment comprises the extraction of coal from beneath the Earth's surface using specialized mining techniques. This segment holds a substantial share in the global coal mining industry, catering to coal reserves situated at significant depths or under unfavorable surface conditions. Underground coal mining involves excavating vertical or inclined shafts and tunnels to access coal seams inaccessible through surface methods. Access points are established on the surface, while tunnels are dug to reach the coal deposits. Techniques such as longwall mining, room and pillar mining, and shrinkage mining are employed to extract coal from these underground mines.

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The underground mining segment was valued at USD 441.90 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 86% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The APAC region leads global coal production, with China and India being the top two producers, accounting for approximately 60% of the world's output. As of February 6, 2024, India's coal production reached an impressive 803.79 MT for FY 2023-24, representing a substantial increase from the 717.23 MT produced during the same period the previous year. This growth rate of 12.07% was achieved ahead of schedule, with the 800 MT mark surpassed on March 8, 2023. Indonesia and Australia are other significant producers, exporting substantial quantities to countries In the region and globally. Coal is a crucial component in energy, power generation, steel

[Keywords] Market include Xstrata Coal, Exxaro Resources, Glencore Xtrata, BHP Billiton's Energy Coal South Africa (BECSA), AAMEG

The size and share of the market is categorized based on Application (Power generation, Steel production, Industrial processes, Heating, Chemical production) and Product (Coking coal, Thermal coal, Anthracite, Semi-anthracite, Metallurgical coal) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

Global Steam Coal Market Size By Calorific Value (Low Calorific (5,500 kcal/kg and 6,000 kcal/kg), High Calorific (6,100 kcal/kg and 6,700 kcal/kg)), By Volatility (Low Volatile Coal, Medium Volatile Coal), By Geographic Scope And Forecast

The market size of the Coal Trading Industry Research Report Market is categorized based on Type (Thermal Coal, Coking Coal, ) and Application (Power Generation, Steel Production, ) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

This report provides insights into the market size and forecasts the value of the market, expressed in USD million, across these defined segments.