LONDON–(BUSINESS WIRE)–The coke market is expected to post a CAGR of over 2% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Zinc is widely used in several applications in various industries, owing to its characteristics such as good corrosion resistance, abrasive resistance, castability, and room temperature mechanical characteristics. Zinc also exhibits good ductility and malleability at high temperatures. Also, zinc is majorly used in the galvanization of steel and the production of alloys and batteries. Furthermore, zinc is also being used in making batteries, such as zinc-air batteries and zinc-manganese batteries. As coke is a critical ingredient in the zinc smelting process, the growth in the demand for coke is highly correlated with the demand for zinc.
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As per Technavio, the advances in the mining industry will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2020-2024.
Coke Market: Advances in the Mining Industry
The mining industry is transforming with an increased shift to automation due to various technological developments in machine learning, artificial intelligence, and robotics. These advancements allow mining to be carried out at unconventional locations, such as ocean beds. Also, the advent of advanced machines, such as self-driving ore trucks and robotic drills, has helped in increasing the mining activities while increasing production efficiency simultaneously. Thus, the advances in the mining industry, such as the use of automation, robotic machines, and advanced machinery will aid in reducing the coke demand-supply gap, thereby driving market growth during the forecast period.
“Apart from the advances in the mining industry, factors such as the emergence of green steel, and the development of smart cities will have a significant impact on the growth of the coke market value during the forecast period,” says a senior analyst at Technavio.
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Coke Market: Segmentation Analysis
This market research report segments the coke market by end-user (iron and steel industry, and others) and geographical regions (APAC, EMEA, and the Americas).
The APAC region led the market in 2019, followed by EMEA and the Americas, respectively. The growth of the coke market share in APAC can be attributed to factors such as the high demand for iron and steel, the booming infrastructure growth in India, and the industrialization drive in China.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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