Global Charcoal Briquette Market

Charcoal Briquette Market Size, Share, Growth Analysis, By Product(Lump Charcoal, Japanese Charcoal, Sugar Charcoal, Others), By Application(Metallurgical Industry, BBQ, Others), By Type(Wood Type, Others), By Region - Industry Forecast 2024-2031


Report ID: SQMIG10G2018 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 90 | Figures: 67

Charcoal Briquette Market Insights

Charcoal Briquette Market size was valued at USD 0.9 billion in 2022, and it is poised to grow from USD 0.96 and expected to attain a value of USD 1.56 billion by 2031, at a CAGR of 6.3% over the forecast period (2024-2031). 

Due to growing demand for the product in recreational cooking, metal manufacturing, building & construction, healthcare, industrial filtration, and pharmaceutical applications, the Global Charcoal Briquette Market is anticipated to expand significantly over the anticipated period. In recreational cooking, charcoal serves as a substitute for coal as a fuel. The popularity of barbecue cooking in restaurants is also anticipated to increase demand. It can burn up to 370 degrees Celsius while emitting comparatively little carbon dioxide during the manufacture of metal. Due to its great heating capability, charcoal is employed as a metallurgical fuel in the production of steel and iron.

The need for iron and steel rises with the expansion of the building and construction sector in developing nations like China and India, which is projected to have a beneficial impact on the growth of the charcoal briquette market. When used with cement, charcoal briquette  increases the cement's overall strength and serves as a binder for lightweight concrete. Additionally, it improves the performance of traditional concrete by reducing the quantity of pores. The construction industry's rising demand for cement, particularly in Asia Pacific, is anticipated to drive the market expansion. In the medical and pharmaceutical fields, activated charcoal is used as a detoxifier. The substance improves antifungal defense, lessens dyspepsia, and purifies blood. Due to its excellent adsorbent properties, charcoal powder is easily employed in cases of poisoning, drug overdoses, and alcohol overdoses. The product also aids in cleansing the body of hazardous pollutants. The demand for the product is projected to increase in the years to come due to expanding medical research into the usage of charcoal in healthcare applications.

The market for charcoal briquettes is predicted to rise in the approaching years due to rising consumer awareness of water waste and rising need for potable drinking water. Due to its effective adsorption qualities, activated charcoal filters for water purifiers are in high demand. Toxins from water, including chlorine and other volatile chemicals, are eliminated by charcoal filters. Additionally, it can enhance the quality of the water by introducing minerals like calcium, magnesium, and iron.

US Charcoal Briquette Market is poised to grow at a sustainable CAGR for the next forecast year.

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FAQs

US Charcoal Briquette Market is poised to grow at a sustainable CAGR for the next forecast year.

The nature of the global market is fragmented. To support different industries, these important players are funding R&D projects. To preserve their market supremacy, they are putting into practise a variety of growth tactics, such as providing extensive product portfolios, fortifying their distribution networks, expansions, and acquisitions. 'ITO Global Trading Company (India)', 'Snesmi Techno Pvt Ltd (India)', 'Sun Company (US)', 'Coal Hut (UK)', 'Milazzo Industries (US)', 'Milward alloys Inc. (US)', 'Halogen Supply Co. Inc. (US)', 'Bepex international llc (US)', 'Dauber co. (US)', 'BBCharcoal (US)', 'Paraguay Charcoal (US)'

The characteristics of coal briquettes can be changed by various binders. Coal briquettes significantly improve thermal efficiency and reduce coal-fired pollutant emissions in industrial boilers and kilns as compared to burning raw coal.

Traditional stoves used in homes for cooking and heating are frequently inefficient and produce a lot of indoor air pollution, which can be harmful to human health. In an effort to increase cooking and heating efficiency and lessen indoor pollution in homes, improved cook stoves have been introduced in several nations. Additionally, it can be safely and cleanly burned provided it is properly prepared and utilized in efficient equipment. Convex in design, improved cook stoves provide insulation on all sides. Additionally, improved cook stoves have recently been developed, which can lower GHG emissions by increasing fuel efficiency and lowering the need for charcoal to produce the same amount of cooking energy.

North America held the largest share of the global charcoal briquette market during 2021. The modest growth in North America is owing to the rise in the cost of conventional fuel sources. In comparison to other conventional fuel sources, charcoal briquettes are fairly inexpensive. The industry size is anticipated to increase because of the rising demand from the residential sector. Europe has a legal obligation to use clean energy sources to reduce GHG emissions. Clean energy sources are predicted to be driven by the severe pollution regulations and rising concern over global warming.

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Global Charcoal Briquette Market

Report ID: SQMIG10G2018

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