Anthracite Market Outlook 2024-2033: Key Trends, Growth Drivers, and Market Share

Anthracite Market Reaches New Heights with Massive CAGR of 2.6% Upto 2033

PORTLAND, OR, UNITED STATES, February 14, 2025 /EINPresswire.com/ -- Anthracite is the highest grade of coal, known for its high carbon content, hardness, and glossy black appearance. It is often referred to as "hard coal" due to its superior hardness and density compared to other types of coal, such as bituminous or lignite. Anthracite is considered the cleanest form of coal because it has the lowest sulfur and volatile content and produces minimal smoke when burned. The global anthracite market was valued at $191.0 million in 2023, and is estimated to reach $246.9 million by 2033, growing at a CAGR of 2.6% from 2024 to 2033. Anthracite is primarily used as a fuel but also finds applications in water filtration, metallurgy, and as a reducing agent in chemical processes.

In the coming years, the size of the anthracite market is projected to expand slightly, reaching a value of $136.82 billion in 2029, with a compound annual growth rate (CAGR) of 2.0%. The predicted growth is largely due to factors such as environmental regulations, emerging market demands, difficulties in integrating renewable energy, trends in residential heating, and infrastructure developments. Key trends during this forecast period are likely to include the use of anthracite as a substitute for coke in steel production, advancements in mining technology, market growth in the Asia-Pacific region, strategic partnerships and investments, and carbon capture and utilization (CCU).

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What Factors Have Fueled the Anthracite Market’s Growth in the Last Few Years?

The anthracite market's expansion is projected to be driven by a surge in domestic fuel and power generation. The term domestic fuel and power generation refers to the energy produced and consumed within households or local communities for daily needs. Factors contributing to the rise of domestic fuel and power generation include escalating energy expenses, environmental concerns, technological progress, government incentives, and the aspiration for energy sovereignty. Anthracite, a superior quality coal, is combusted in coal-fired power plants for electricity production.

Its high carbon component and minimal impurities generate extreme heat and steam, which drive turbines to generate power. For example, the International Energy Agency, a France-based independent intergovernmental organization, reported in October 2024 that total net power production in July 2024 reached 996.1 TWh, marking a 2.6% rise from July 2023. As a result, the upsurge in domestic fuel and power generation is fuelling the evolution of the anthracite market.

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What Are the Key Trends Shaping the Anthracite Market During the Forecast Period?

Key players in the anthracite industry are turning their attention to innovative tactics, including steel production, to consolidate their standing in the market. To clarify, steel production involves the manufacture of steel which is essentially an alloy of iron and carbon with other elements like manganese, chromium, and nickel. As an example, in October 2022, Liberty Steel UK, a steel production company based in the UK, initiated the usage of Ecoke, an eco-friendly resource devised to diminish CO2 emissions in steel fabrication by as much as 30%. Containing no less than 30% renewable biomass, Ecoke is proposed as a substitute for anthracite, the conventional charge carbon in electric arc ovens. Preliminary experiments have demonstrated that it can be smoothly incorporated into current production practices without affecting efficiency. This move is a part of a wider GREENSTEEL plan by LIBERTY, aiming for net-zero carbon emissions by 2030, putting them in the forefront of sustainable steel production and potentially simplifying budgeting by decreasing the need for carbon credit purchases.

Types of Anthracite can be classified based on its carbon content and level of metamorphism. Key categories include:

Standard Anthracite: Used in residential heating and power generation.
Ultra-High Grade Anthracite: Used in industrial processes, metallurgy, and as a filtration medium.
Calcined Anthracite: This is anthracite that has been heat-treated at high temperatures to improve its carbon content, commonly used in steelmaking and foundries.

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