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Foundry coke is also called hard coal coke, it is a high-quality grade of coke. The process such as a beehive, form-coke, jumbo-ovens, and by-product recovery process are used in the manufacturing of foundry coke. The product is highly utilized for efficient cupolas for melting iron and other metals such as copper, lead, tin, and zinc at cupola furnace foundries. Additionally, the foundry coke has a denser structure, high carbon content, low ash content, high strength, and high heating value. It is also available in various sizes based on customer requirements. The foundry coke finds its use in various applications such as automotive parts casting, machinery casting, and insulation.
The foundry coke market is growing at its rapid pace owing to increasing its adoption over metallurgical coke. The product is available in a larger size when compared with metallurgical coke. Also, the large-sized foundry coke offers advantages of lower blasting pressure, reduced reaction with CO2, increased metal temperature, and reduced breakage from handling. These benefits make foundry coke as a sustainable choice over metallurgical coke. It is highly used as a supporting matrix, energy carrier, and reducing agent, during the pig iron manufacturing process. Hence rising demand for the product will boost the foundry coke market growth during the forecast timeline.
However, the fluctuation in the prices of foundry coke hampers the overall demand and restrict its adoption in various applications. Hence, this is anticipated to hamper the market growth.
Key Market Driver -
The rising demand for foundry coke over metallurgical coke to drive the market growth.
Key Market Restraint -
Fluctuation in the prices to restrict the market growth
Based on process, the foundry coke market is segmented into beehive, form-coke, jumbo-ovens, by-product recovery, and others. Based on application, the market is segmented into automotive parts casting, machinery casting, material treatment, insulation, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The key players in the foundry coke market include OKK Koksovny, a.s., Nippon Coke and Engineering, Walter Energy, Shandong Coking Group, ABC Coke, Shandong Sunshine Focal Electric, Jiangsu Surun Highcarbon, GR RESOURCE LTD, NalonChem, and Hickman, Williams & Company.
Asia Pacific is anticipated to witness the highest growth in the foundry coke market. The growth is attributed to the rising demand for the product in the material treatment. Furthermore, the rising use of beehive and product recovery processes for foundry coke production will propel the market growth in this region. The increasing use of the product in the casting of the automotive part will fuel the market growth in Europe, in which UK and Germany are the leading contributors. In North America, the growth is due to the increasing adoption of the product in the insulation purpose. The Middle East & Africa is anticipated to witness significant growth, owing to the adoption of foundry coke in the machinery casting.
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