Metallurgical Coal Market Report 2026

The metallurgical coal market size has grown steadily in recent years. It will grow from $15.02 billion in 2025 to $15.53 billion in 2026 at a compound annual growth rate (CAGR) of 3.4%. The growth in the historic period can be attributed to rising steel production in emerging economies, expansion of iron and steel industry, increasing demand from construction sector, growth of automotive manufacturing, dependence on traditional coking coal sources.

The metallurgical coal market size is expected to see steady growth in the next few years. It will grow to $18.05 billion in 2030 at a compound annual growth rate (CAGR) of 3.8%. The growth in the forecast period can be attributed to adoption of environmentally sustainable coal sourcing, growth in high-efficiency steelmaking technologies, rising demand from chemical and pharmaceutical sectors, expansion of pulp and paper applications, increasing investment in automated metallurgical processes. Major trends in the forecast period include increasing use of premium hard coking coal (hcc), rising adoption of pulverized coal injection (pci) techniques, growth in medium and semi-soft coking coal applications, enhanced quality standards for steelmaking processes, expansion of non-steelmaking industrial applications.

The rising demand for steel is expected to drive the growth of the metallurgical coal market in the future. Steel is a strong and durable metal made from iron alloyed with varying amounts of carbon and often other metals like nickel, chromium, and manganese, which enhance properties such as hardness and rust resistance. Metallurgical coal, also known as coking coal, is the primary carbon source used in steel production. It is essential in the steel-making process as it provides the heat required to melt the ore and removes oxygen from the iron ore during combustion, leaving behind pure metal. The demand for steel is increasing due to infrastructure development in the automotive industry, particularly for manufacturing vehicles such as cars and trucks, as well as for industrial production. For instance, in 2022, the World Steel Association, a Belgium-based non-profit organization, projected that steel demand would grow by 0.4%, reaching 1.84 billion tons (Mt). In 2023, demand is expected to rise by an additional 2.2%, totaling 1,881.4 Mt. Therefore, the increased demand for steel is driving the growth of metallurgical coal.

Companies operating in the metallurgical coal market are focusing on mining operations to sustain their position in the market. For instance, in June 2023, Andhra Pradesh Mineral Development Corporation (APMDC), an India-based manufacturing company, launched Mining Operations in the Brahmadiha coal block, located in Giridih, Jharkhand, marking its entry into coking coal mining. This strategic move aims to enhance APMDC’s resource base and diversify its mining portfolio, supporting the region's energy requirements. The project focuses on ensuring compliance with environmental regulations and optimizing operational efficiency to maximize output. In addition to contributing to local and regional energy supply, the initiative is expected to generate employment opportunities. The launch of these mining operations is a significant development for both APMDC and India's broader energy sector.

In November 2023, Glencore Plc, a Switzerland-based mining company, completed the acquisition of 77% of Elk Valley Resources (“EVR”) from Teck Resources Limited for US$6.93 billion. This strategic move positions Glencore to leverage the addition of world-class assets and a skilled workforce, enhancing its existing thermal and steelmaking coal production in Australia, Colombia, and South Africa. Elk Valley Resources (“EVR”) is a Canada-based subsidiary of Teck Resources Limited, primarily engaged in steel-making coal resources. The acquisition underscores Glencore's commitment to meeting the demand for coal products crucial to steel production.

Major companies operating in the metallurgical coal market report are Anglo American Plc, Arch Coal Inc., BHP Group plc, Coronado Global Resources Inc., Glencore Plc, Teck Resources Ltd., Peabody Energy Inc., Whitehaven Coal Ltd., Rio Tinto, Warrior Met Coal Inc., Alliance Resource Partners LP, Consol Energy Inc., Drummond Company Inc., Murray Energy Corporation, Raspadskaya PJSC, Shanxi Coking Coal Group, Datong Coal Industry Company Limited, China Coal Energy Co. Ltd., China Shenhua Energy Co. Ltd., Coal India Ltd., Alpha Natural Resources, Hallador Energy Company.

Asia-Pacific was the largest region in the metallurgical coal market in 2025. The regions covered in the metallurgical coal market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the metallurgical coal market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The metallurgical coal market consists of sales of steam coal and anthracite coal. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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