Ghana Bituminous Coal Market (2022-2028) | Revenue, Size, Share, Growth, Industry, Outlook, Forecast, Analysis, Trends, Value, Segmentation & COVID-19 IMPACT

Ghana Bituminous Coal Market Synopsis

Ghana bituminous coal market is expected to grow during the forecast period. The increasing demand for energy resources is the major factor driving the growth of the Ghana bituminous coal market. The growing population and rising industrialization are also contributing to the growth of this market.

According to 6Wresearch, the Ghana Bituminous Coal Market size is expected to grow during 2022-2028. The country has made significant strides in its industrial sector, including its bituminous coal industry. Bituminous coal is a type of coal that contains a high concentration of coal dust. It is used primarily for the production of electricity and heating fuels.

However, some restraints such as low installed capacity and high costs are hampering the growth of this market. Moreover, environmental concerns are hindering the adoption of this type of coal in some countries. However, with proper policies and initiatives, these restraints can be overcome in the near future.

The main types of coal mined in Ghana are bituminous and sub-bituminous. Bituminous coal is used to produce electricity and make steam for industrial purposes, while sub-bituminous coal is mostly used to produce coke for steelmaking. The country also produces a limited amount of coking coal.

Demand in the African Region

Demand for coal in the African region is forecast to grow per year, according to the latest edition of the annual Coal Market Outlook. This is due to increases in electricity generation and industrial demand, as well as a growing population and economies in most countries in the region.

A number of initiatives are currently underway to exploit Ghana's bituminous coal reserves more fully. These include the construction of a new power plant that will use a combined-cycle gas turbine (CCGT) technology that consumes less fuel than traditional plants; development of new methods for recovering Recoverable Coals Value (RCV) from coalfired plants.

The high quality of Ghana's bituminous coal has led to it being used for steelmaking, power generation, and other industrial purposes. The majority of the country's bituminous coal production takes place in the Northern and Western regions.

Government Policies and Regulations of Ghana

The Ghanaian government has been supportive of the coal mining industry, as evidenced by its number of policies and regulations in place. These supportive policies include a number of environmental and safety regulations that are designed to protect both the environment and the miners themselves. The Ghanaian government also offers tax benefits for coal mining companies, making it one of the most advantageous industries in the country.

Opportunities and Challenges for the Industry

• Ghana Bituminous Coal Market revenue is currently facing a number of challenges, including high production costs, dependence on importation of coal, and competition from other energy sources. The government is attempting to address these challenges by encouraging the development of new coal-fired power plants and expanding the use of thermal coal.
• The primary reason for this decline is the high cost of production which has been exacerbated by low global demand. Coal is currently being imported into Ghana at a higher price than locally produced coal, further exacerbating the situation.
• One other major issue is the high cost of infrastructure development, which makes it difficult for new mines to get off the ground. This high cost is due in part to the need for extensive geological mapping and surveying before any mining can commence, as well as stringent safety requirements set by the government. Additionally, competition from other energy sources, such as gas and oil, is challenging the profitability of coalmining operations.
• There are several other factors that are inhibiting investment in the Ghana bituminous coal market including environmental regulations and tax policies which are making it difficult to secure funding for new mines. Additionally, the country's infrastructure is not up to par which makes it difficult to transport coal out of the mines. The government has recognized these issues and has announced plans to invest $1 billion in the mining sector over the next five years, but this will only partially address the problem.
• However, production is expected to rebound as new mines come on line and prices increase due to increasing demand from China, driving the Ghana Bituminous Coal Market growth.

Market Analysis based on Application

Based on Application, the cement industry is one of the most important industries in Ghana. The use of bituminous coal in the manufacture of cement results in significant environmental benefits. Coal-fired plants emit less carbon dioxide than other types of energy sources, such as oil or gas, and they are also less polluting when compared to other industrial sectors. In addition, the plant can operate for 50 years without needing major repairs or replacements.

Steelmaking is another important sector that benefits from the use of bituminous coal. The country has an estimated reserve of 5 billion metric tons of low-rank steelmaking grade coal, which could provide enough material for up to 10 million tons per year. This would significantly boost domestic production and reduce reliance on imports.

Market Analysis based on Product Type

Based on Product Type, Ghana is the world’s sixth-largest coal producer, but it is well known for its lean coal. Lean coal is a low-sulphur, high-energy variety that can be used to generate electricity or heat. The long flame coal from Ghana is some of the most sought after in the world because of its consistent quality and ability to produce high temperatures.

Impact of COVID-19 on the Ghana Bituminous Coal Market

The COVID-19 pandemic has impacted the Africa Bituminous Coal market. The market is expected to suffer due to the increased demand for bituminous coal from power plants in Europe and other countries. The global demand for coal is forecast to grow, which will result in an increase of up to 1 million metric tons of bituminous coal production annually. However, the COVID-19 pandemic is expected to reduce this growth.

The COVID-19 pandemic has resulted in a decline in the use of bituminous coal for power plants in Europe and other countries. This is due to the increased demand for cleaner energy sources, such as solar and wind power. This has seriously affected the demand for Ghana Bituminous Coal and growth potential.

Major Negotiating players in the African Region

The Ghana Bituminous Coal Market share is relatively positive, but prospects are tempered by weaker global demand and overproduction in key coal producing regions. In spite of this, there are a number of major negotiating companies active in the Ghanaian coal market.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2018 to 2021.
• Base Year: 2021.
• Forecast Data until 2028.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Ghana Bituminous Coal Market Outlook
• Market Size of Ghana Bituminous Coal Market, 2021
• Forecast of Ghana Bituminous Coal Market, 2028
• Historical Data and Forecast of Ghana Bituminous Coal Revenues & Volume for the Period 2018 - 2028
• Ghana Bituminous Coal Market Trend Evolution
• Ghana Bituminous Coal Market Drivers and Challenges
• Ghana Bituminous Coal Price Trends
• Ghana Bituminous Coal Porter's Five Forces
• Ghana Bituminous Coal Industry Life Cycle
• Historical Data and Forecast of Ghana Bituminous Coal Market Revenues & Volume By Product Type for the Period 2018 - 2028
• Historical Data and Forecast of Ghana Bituminous Coal Market Revenues & Volume By Gas Coal for the Period 2018 - 2028
• Historical Data and Forecast of Ghana Bituminous Coal Market Revenues & Volume By Fat Coal for the Period 2018 - 2028
• Historical Data and Forecast of Ghana Bituminous Coal Market Revenues & Volume By Lean Coal for the Period 2018 - 2028
• Historical Data and Forecast of Ghana Bituminous Coal Market Revenues & Volume By Long Flame Coal for the Period 2018 - 2028
• Historical Data and Forecast of Ghana Bituminous Coal Market Revenues & Volume By Other for the Period 2018 - 2028
• Historical Data and Forecast of Ghana Bituminous Coal Market Revenues & Volume By Applications for the Period 2018 - 2028
• Historical Data and Forecast of Ghana Bituminous Coal Market Revenues & Volume By Electricity Industry for the Period 2018 - 2028
• Historical Data and Forecast of Ghana Bituminous Coal Market Revenues & Volume By Chemical Industry for the Period 2018 - 2028
• Historical Data and Forecast of Ghana Bituminous Coal Market Revenues & Volume By Cement Industry for the Period 2018 - 2028
• Historical Data and Forecast of Ghana Bituminous Coal Market Revenues & Volume By Steel Industry for the Period 2018 - 2028
• Historical Data and Forecast of Ghana Bituminous Coal Market Revenues & Volume By Other for the Period 2018 - 2028
• Ghana Bituminous Coal Import Export Trade Statistics
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By Applications
• Ghana Bituminous Coal Top Companies Market Share
• Ghana Bituminous Coal Competitive Benchmarking By Technical and Operational Parameters
• Ghana Bituminous Coal Company Profiles
• Ghana Bituminous Coal Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

Product Type

• Gas Coal
• Fat Coal
• Lean Coal
• Long Flame Coal
• Other

By Applications

• Electricity Industry
• Chemical Industry
• Cement Industry
• Steel Industry
• Other