Global Coal Briquettes Market is expected to foresee significant growth. APAC to lead the growth!
- Himanshu Patni
- July 13, 2023
- ENERGY & POWER, NEWS
- Coal Briquettes Market, Coal Briquettes Market Size
- 0 Comments
Coal briquettes are made up of compressed wastes such as bamboo, sawdust, forest waste, wood shaving, and others and produce a high BTU of about 8100 per pound. Coal briquettes are used as the desirable fuel due to the lower smoke, longer durability, higher thermal energy as well as lower ash content, and uniform shape. In recent times, coal briquettes witnessed higher demand due to their growing adoption for commercial and residential heating applications. Along with the increasing demand from the industries such as food & beverage attributed to the lower density, moisture, and higher efficiency along with the higher thermal calorific value. Also, rapid industrialization and growth in the manufacturing sector & metallurgy industry among others are expected to support market growth. Additionally, the absence of sulfur in the coal briquettes, ease of storage & transportation, and lower purchasing & operational expenses compared to its counterpart are anticipated to drive the market expansion during the forecast period.
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The Coal Briquettes Market is expected to grow at a steady rate of around 5% owing to its rising demand from steel, manufacturing, and other industries for the heating application which is supported by government regulations to reduce the emission. Major companies in the market are focusing to provide coal briquettes with technologically advanced features along with new product launches, collaboration, and mergers & acquisitions. For instance, in January 2022, Weber Inc. announced the launch of three new products with outdoor cooking innovation, smart technology, and high-quality material including SMOKEFIRE Wood Fired Pellet Grill.
Based on the composition, the market is segmented into coal dust, sawdust, wood charcoal, wood chips, peat & paper, and others. The wood charcoal segment is expected to witness significant market growth during the forecast period owing to the lower cost of production and higher availability. Also, the higher calorific value, lower smoke, and lower ignition temperature compared to its substitute product and its increasing adoption in the food & beverage industry are expected to support the market growth during the forecast period. Additionally, wood charcoal is porous in nature and absorbs gases and liquid on its surface and is widely used in gas masks, water filters, and anti-gastric tablets or powder and is expected to register significant market growth in the coming time
Based on the application, the market is bifurcated into food processing, metallurgy, and others. The metallurgy segment is expected to register a significant CAGR during the forecast period owing to the higher demand for the different types of metal in the industries. The other factor opening up the profit potential for coal briquettes for heating and other applications is the rising cost of alternative fuels like HSD, gasoline, and gases which are expected to drive up demand for coal briquettes.
For a better understanding of the market adoption of the coal briquettes industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the rapid industrialization and growing food & beverage industries in the region coupled with the increasing disposable income of the individual. Additionally, the market growth is expected to be supported by the region’s increasing urbanization and expanding sectors like silicon, iron, and steel manufacturing, among others. Also, the price volatility of substitute products and stringent government norms for carbon emission such as automated monitoring of the emission through CEMS (Continuous Emission Monitoring System) will support market growth in the coming time. Furthermore, market growth is expected to be supported by technological improvement, rising investment, and expanding R&D activities.
Some of the major players operating in the market include Sun Company, Snesmi Techno Pvt. Ltd., Coal Hut, Milward Alloys Inc., Dauber Co., Milazzo Industries, Cowboy Charcoal Brand, VESP Energy, Duraflame Inc., and Paraguay Charcoal.
For a detailed analysis of the Global Coal Briquettes Market browse through – https://univdatos.com/report/coal-briquettes-market/
Global Coal Briquettes Market Segmentation
Market Insight, by Composition
· Coal Dust
· Saw Dust
· Wood Charcoal
· Wood Chips
· Peat & Paper
· Others
Market Insight, by Application
· Food Processing
· Metallurgy
· Others
Market Insight, by Region
· North America
o US
o Canada
o Rest of North America
· Europe
o Germany
o United Kingdom
o France
o Italy
o Spain
o Rest of Europe
· Asia-Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
· Rest of the World
Top Company Profiles
· Sun Company
· Snesmi Techno Pvt. Ltd.
· Coal Hut
· Milward Alloys Inc.
· Dauber Co.
· Milazzo Industries
· Cowboy Charcoal Brand
· VESP Energy
· Duraflame Inc.
· Paraguay Charcoal