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World’s Best Import Markets for Oils From Coal Tar

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Global Trade Daily

World’s Best Import Markets for Oils From Coal Tar

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Oils from coal tar have become an essential commodity in various industries, ranging from pharmaceuticals to chemicals. As the demand for these oils continues to grow, it is crucial to understand the top import markets for this product. In this article, we will explore the world’s best import markets for oils from coal tar, backed by key statistics and data from the IndexBox market intelligence platform.

1. The Netherlands

The Netherlands leads the global import market for oils from coal tar, with an import value of $6.8 billion USD in 2022. This country’s significant demand for these oils is driven by its robust chemical industry and its position as a key trading hub in Europe.

2. Belgium

Following closely behind, Belgium ranks second in terms of import value, with $5.6 billion USD in 2022. Belgium benefits from its strategic location within Europe, allowing it to serve as a major distribution center for oils from coal tar in the region.

3. Ecuador

Ecuador takes the third spot on the list, with an import value of $2.5 billion USD in 2022. The country’s demand for oils from coal tar is primarily driven by its growing chemical and pharmaceutical industries.

4. China

China, known for its rapid industrial growth, secures the fourth position with an import value of $1.7 billion USD in 2022. The country’s expanding manufacturing sector and rising demand for chemicals contribute to its significant import market for oils from coal tar.

5. India

India follows closely behind China, with an import value of $1.6 billion USD in 2022. It is worth noting that India’s chemical industry is one of the largest in the world, creating a substantial demand for oils from coal tar.

6. Germany

Germany, known for its strong industrial base, ranks sixth in terms of import value, with $1.3 billion USD in 2022. The country’s diverse manufacturing sectors rely heavily on oils from coal tar, propelling its position in the import market.

7. United States

The United States secures the seventh spot, with an import value of $1.2 billion USD in 2022. Despite being a significant producer of coal tar oils domestically, the country still relies on imports to meet its growing demand.

8. South Korea

South Korea follows closely behind the United States, with an import value of $973.9 million USD in 2022. The country’s chemical industry and its specialization in refining and processing raw materials contribute to its prominent position in the import market.

9. Spain

Spain holds the ninth position on the list, with an import value of $924.0 million USD in 2022. The country’s construction, automotive, and chemical industries drive its demand for oils from coal tar.

10. Denmark

Lastly, Denmark completes the list with an import value of $857.4 million USD in 2022. The country’s thriving chemical and pharmaceutical sectors contribute to its position as one of the best import markets for these oils.

By analyzing the import values and key statistics from the IndexBox market intelligence platform, it is clear that the Netherlands, Belgium, and Ecuador dominate the global import market for oils from coal tar. These countries robust industries and strategic locations make them ideal destinations for exporters looking to capitalize on the growing demand for these oils.

Disclaimer: This article includes data from the IndexBox market intelligence platform, a leading source of market data and trends. However, readers are encouraged to conduct further research and analysis to obtain a comprehensive understanding of the subject matter.

Source: IndexBox Market Intelligence Platform 

coal import energy
Global Trade Daily, United states news

The Largest Import Markets for Coal

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Coal is a vital energy resource used globally for electricity generation and industrial processes. While lignite, a low-grade coal, is widely available, there is a significant demand for high-quality coal other than lignite across various countries. In this article, we will explore the top import markets for coal other than lignite, backed by key statistics and data from the IndexBox market intelligence platform.

1. Japan

Japan leads the pack as the largest importer of coal other than lignite, with an import value of $59.3 billion in 2022. The country heavily relies on coal for electricity generation, given its limited natural resources. Despite efforts to shift towards more renewable energy sources, coal remains a significant component of Japan’s energy mix.

2. India

India holds the second spot with an import value of $49.0 billion in 2022. The country’s growing population and industrialization drive the demand for coal as a primary energy source. Coal is crucial for India’s power generation, especially in regions where access to other energy forms is limited.

3. China

China, the world’s largest consumer of coal, ranks third in terms of imports of coal other than lignite, with an import value of $30.3 billion in 2022. Despite efforts to reduce its reliance on coal, China still heavily depends on it for electricity generation and industrial activities.

4. South Korea

South Korea is the fourth-largest importer, with an import value of $28.2 billion in 2022. The country, lacking natural resources, imports coal to meet its energy demands. Coal plays a significant role in South Korea’s electricity generation, especially as a backup source during peak demand.

5. Taiwan (Chinese)

Taiwan secures the fifth spot, importing coal other than lignite worth $16.6 billion in 2022. The country heavily relies on coal for electricity production due to limited domestic energy resources. Coal serves as a stable and cost-effective energy source for Taiwan.

6. Germany

Germany imports coal other than lignite with an import value of $12.9 billion in 2022. Despite its push towards renewable energy sources, coal remains crucial for Germany’s energy sector. Coal is primarily used for power generation and industrial processes.

7. Turkey

Turkey has an import value of $8.2 billion in 2022, positioning it as the seventh-largest importer of coal other than lignite. The country heavily relies on imported coal to meet its energy demand, particularly for electricity generation and industrial applications.

8. Malaysia

With an import value of $7.0 billion in 2022, Malaysia ranks eighth among the top importers of coal other than lignite. The country imports coal primarily for power generation and is also a significant player in the coal trading market.

9. Netherlands

The Netherlands imports coal other than lignite worth $6.4 billion in 2022. Despite its efforts to transition towards cleaner energy sources, coal remains an important component of the country’s energy mix. The Netherlands relies on imported coal for electricity generation.

10. Philippines

The Philippines secures the tenth spot on the list, importing coal other than lignite valued at $6.0 billion in 2022. Coal is vital for the country’s power generation, especially in areas with limited access to other energy sources. The Philippines heavily relies on imported coal to meet its energy needs.

The data used in this article is sourced from the IndexBox market intelligence platform, a reliable and comprehensive source of market statistics. IndexBox offers essential data and insights for businesses and analysts across various industries. Their platform provides accurate and up-to-date information on market trends, import/export statistics, and other relevant data points.

Source: IndexBox Market Intelligence Platform 

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Archives, EU Trade, Global Trade Daily

Alternative Energy Regulation and the Covid-19 Pandemic Restrict Global Coal Market Growth

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IndexBox has just published a new report: ‘World – Coal – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

In 2020, the decline in the global coal market gathered momentum, against the Covid-19 pandemic. The low cost of natural gas, combined with the development of alternative energy sources and stricter environmental regulations, are pushing the coal energy sector into stagnation. In the medium term, only the metallurgical industry is set to see stable demand for coal.

Key Trends and Insights

Since 2019, global coal consumption has been in decline, against poor growth in the demand for electricity, low natural gas prices and the enhanced use of alternative sources of energy. Data released by the International Energy Agency (IEA) indicated that, in 2019, coal-fired power production fell in the European Union by 23%, and in the USA by 17%.

In 2020, the European Union (-19%, -111 Мт) and the USA (-14%, -87 Mt), saw a significant decline in coal-fired power production. This was conditioned by the new ‘Green Deal’ aimed at the strategic reduction of carbon emissions.

In 2020, increased coal-fired electricity production was recorded only in China and ASEAN, where coal total consumption saw a growth of approx. 1.2%.

Global coal demand is set to decrease further by 2025, hampered by the new climate regulation initiatives, particularly, in the EU. Even the anticipated expansion of the coal sector in India could not alone shape the global demand for coal. China is reaching a plateau in terms of coal consumption and several countries committed to reduce coal consumption (Korea, Vietnam, Bangladesh, the Philippines and Egypt) in 2020.

The global consumption of metallurgical coal also fell by 3.2% in 2020, as a result of the decline in global steel production. Should the Covid-19 restrictions be completely lifted in 2021, alloy production is expected to recover, which is set to restore demand for coal.

China Remains the Largest Coal Consuming Country

China (4,570M tonnes) remains the largest coal-consuming country worldwide, accounting for 39% of total volume. Moreover, coal consumption in China exceeded the figures recorded by the second-largest consumer, India (1,053M tonnes), fourfold. The U.S. (644M tonnes) ranked third in terms of total consumption with a 5.5% share (IndexBox estimates).

From 2012 to 2019, the average annual growth rate of volume in China stood at -1.1%. In the other countries, the average annual rates were as follows: India (+5.5% per year) and the U.S. (-4.8% per year).

In value terms, China ($483.6B) led the market, alone. The second position in the ranking was occupied by India ($145B). It was followed by the U.S.

The countries with the highest levels of coal per capita consumption in 2019 were South Africa (3.89 tonne per person), China (3.13 tonne per person) and Russia (3 tonne per person).

From 2012 to 2019, the biggest increases were in India, while coal per capita consumption for the other global leaders experienced more modest paces of growth.

China (282M tonnes), India (241M tonnes), Japan (183M tonnes) and South Korea (141M tonnes) represented roughly 62% of total imports of coal in 2019. It was distantly followed by Taiwan (Chinese) (67M tonnes), mixing up a 4.9% share of total imports. Malaysia (38M tonnes), Turkey (30M tonnes), the Philippines (30M tonnes), Germany (29M tonnes), Viet Nam (25M tonnes), Thailand (24M tonnes), Russia (22M tonnes) and Brazil (21M tonnes) followed a long way behind the leaders.

In value terms, China ($24.6B), Japan ($19.3B) and India ($17.3B) constituted the countries with the highest levels of imports in 2019, together accounting for 51% of global imports. South Korea, Taiwan (Chinese), Brazil, Malaysia, Germany, Turkey, Viet Nam, the Philippines, Thailand and Russia lagged somewhat behind, together comprising a further 31% (IndexBox estimates).

Driven by rising demand for coal worldwide, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.4% for the period from 2019 to 2030, which is projected to bring the market volume to 13,602M tonnes by the end of 2030.

Source: IndexBox AI Platform