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Mined anthracite coal market to reach US$68.8 billion by 2027
Anthracite Coal is a type of coal that is put to immense heat and pressure, thereby making it one of the hardest and most compressed coals available in the world. Hard coal comes with the greater potential of generating heat energy than geologically newer coals that are comparatively soft.
The global mined anthracite coal market is split into the major regions of Latin America, North America, Middle East and Africa, Asia Pacific, and Europe. Segmentation based on region offers a deeper insight into the market with details of regional market dynamics at play.
Based on the geographical segmentation, the global mined anthracite coal market is likely to be dominated by the Asia Pacific region. In this region, the construction industry is seen growing exponentially together with rapid progress in the industrial segment. In addition, Asia Pacific has large base of population with highest density of population. Presence of such a huge base of population needs immense power generation. Such high requirement of power is anticipated to propel the growth of the global mined anthracite coal market. Countries like Vietnam, Australia, South Korea, and China are amongst the major exporters in the anthracite coal market. All of these factors are expected to work in favour of the global mined anthracite coal market during the tenure of assessment.
Less smoke and more heat makes it ideal for use in the steel industry
The global mined anthracite coal market is expected to experience substantial growth over the assessment tenure, thanks to its augmented use in industrial, infrastructural, and construction industries. In addition to that, huge demand of anthracite coal by the manufacturers of steel is likely to offer copious growth opportunities for the global mined anthracite coal market in the years to come. The steel manufacturers are more inclined toward the use of anthracite coal than any other type owing to it high carbon content and cost effectiveness. Use of anthracite coal leads to reduced cost of production for the steel manufacturers.
Anthracite also is the most brittle of all types of coal that are available. When anthracite coal is burned, it produces an extremely hot and blue flame. Anthracite coal is a shiny black rock finds wide use for heating purposes in commercial and residential buildings in different parts of the world. In addition, this type of coal generates more heat and much less smoke as compare to various other types of coal. As such, it is regarded as the cleanest of all burning coals that are available in the market, which is likely to encourage growth of the global mined anthracite coal market in forthcoming years.