United Kingdom: Coal Market 2024

Coal Market Size in the UK

In 2022, the UK coal market increased by X% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, recorded a abrupt downturn. Coal consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Coal Production in the UK

In value terms, coal production shrank to $X in 2022 estimated in export price. Over the period under review, production recorded a sharp descent. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Coal Exports

Exports from the UK

In 2022, approx. X tons of coal were exported from the UK; increasing by X% on the year before. Over the period under review, exports posted a temperate increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, coal exports surged to $X in 2022. Overall, exports recorded temperate growth. The growth pace was the most rapid in 2018 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Norway (X tons) was the main destination for coal exports from the UK, with a X% share of total exports. Moreover, coal exports to Norway exceeded the volume sent to the second major destination, Ireland (X tons), sevenfold. Iceland (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Norway amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (X% per year) and Iceland (X% per year).

In value terms, the largest markets for coal exported from the UK were Norway ($X), Iceland ($X) and Ireland ($X), with a combined X% share of total exports.

In terms of the main countries of destination, Iceland, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average coal export price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price, however, recorded a slight decrease. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (X%), while the prices for the other major destinations experienced more modest paces of growth.

Coal Imports

Imports into the UK

In 2022, overseas purchases of coal increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, faced a abrupt contraction. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, coal imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a deep reduction. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of coal to the UK, accounting for a X% share of total imports. Moreover, coal imports from the United States exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold. The third position in this ranking was taken by South Africa (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and South Africa (X% per year).

In value terms, the United States ($X) constituted the largest supplier of coal to the UK, comprising X% of total imports. The second position in the ranking was held by Australia ($X), with a X% share of total imports. It was followed by Russia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and Russia (X% per year).

Import Prices by Country

In 2022, the average coal import price amounted to $X per ton, picking up by X% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coal import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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