Global Charcoal Market is expected to foresee significant growth. South America and Middle East & Africa to lead the growth
Global Charcoal Market is expected to reach the market valuation of US$ XX billion by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2027) from US$ XX billion in 2020. Increasing focus on producing low-carbon steel, growing demand for barbeque food, rising adoption of charcoal in Middle East & African countries due to growing urbanization and industrialization, and large and growing end-user base in Asia-Pacific region are some of the key attributable propelling the growth of the market
Due to high cost of commercially available process of obtaining charcoal because these processes require specific feedstock size and are limited in scale, only a limited number of large players operates in the market and rest are small players who uses other non-environment friendly method to produce the charcoal. This makes the market largely unorganized. Further, most of the players operates at national and regional level only. However, with increasing utilization of charcoal from heavy metal industries, the demand of charcoal would increase, this will also increase the market share of organized sector as these industries requires large amount of heating fuel which can be only available through commercial process. Since, companies with high capital would be able to commercialize the charcoal production with commercial process, resulting in increasing share of organized sector.
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Covid-19 has impacted almost every industry except for some essential areas. Lockdown implemented by the several nations across the globe, resulted in factory shutdown which has minimize the raw material demand including charcoal. Moreover, many countries are dependent on import of charcoals, while some are totally exporter but owing to border closure, they were not able to operate thus affecting the demand of charcoal globally. Further, all time high recession faced by hospitality and tourism industry has also affecting the demand of charcoal whether directly or indirectly.
For a detailed analysis of the Covid-19 Impact on the industry browse through – https://univdatos.com/report/charcoal-market/
- Based on type, the market is divided into lump charcoal, charcoal briquette, Japanese charcoal, sugar charcoal, and others. Currently, lump charcoal category dominates the market and is expected to retain its position during the forecast period as well owing to increasing utilization of charcoal in heavy metal industry like steel.
- Based on application, the market is divided into metallurgical fuel, cooking fuel, industrial, filtration, and others. Metallurgical and cooking fuels applications are the largest consumer of charcoal.
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For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Thailand, Rest of Asia-Pacific), South America (Brazil, Argentina, Rest of South America), and Middle East & Africa (Nigeria, Ethiopia, Democratic Republic of Congo, Ghana, Tanzania, and Rest of Middle East & Africa). In 2020, South America and Middle East & Africa are the largest consumers in the market. Low availability of other heating fuels like coal and coke in South American countries and increasing urbanization in African countries are propelling the demand for charcoal. Some of the major companies profiled in the report includes Kingsford Products Company LLC, Duraflame Inc., Royal Oak Enterprises LLC, E&C Charcoal (Pty) Ltd., Namchar (Pty) Ltd., Timber Charcoal Company LLC, BOM DE BRASA, Fogo Charcoal Company, Gryfskand Sp. z o.o, Aperam BioEnergia Ltda.
Global Charcoal Market Segmentation
Market Insight, by Type
- Lump Charcoal
- Charcoal Briquette
- Japanese Charcoal
- Sugar Charcoal
Market Insight, by Application
- Metallurgical Fuel
- Cooking Fuel
Market Insight, by Region
- North America Charcoal Market
- United States
- Rest of North America
- Europe Charcoal Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Charcoal Market
- Rest of Asia-Pacific
- South America Charcoal Market
- Rest of South America
- Middle East & Africa Charcoal Market
- Democratic Republic of Congo
- Rest of Middle East & Africa
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