Charcoal Market: Current Analysis and Forecast (2021-2027)
Emphasis on Type (Lump Charcoal, Charcoal Briquette, Japanese Charcoal, Sugar Charcoal, Others); Application (Metallurgical Fuel, Cooking Fuel, Industrial, Filtration, Others); Region and Country
Charcoal Market was valued at US$ 6 billion in 2020 and is expected to grow at a CAGR of 2% over the forecast period (2021-2027). Increasing concern among governments and individuals to protect the environment, growing culture of barbeque food in Asia-Pacific countries, and growing utilization of charcoal in metallurgical industry to produce low-carbon contain metals are some of the factors which are supporting the market growth. Charcoal is made from the pyrolysis of organic material mainly wood. This charcoal found application in cooking fuel, heavy industry, purification and filtration, art, horticulture, pharmaceutical, smoking, automotive, and chemical, among others. This shows presence of vast serviceable market for charcoal. Further, increasing stringent regulation on heavy metal industry to decarbonize their operation is opening new opportunities for the charcoal as it offers high calorific value with very low carbon emission. Covid-19 has a negative impact on the charcoal market. Governments across the globe, took several necessary measures to curtail the spread of disease which resulted in full or partial lockdown in many nations resulted in factory shutdown and border closure, thus, halted the supply chain. Since, charcoal is used in many industrial processes as well as in hospitality industry for food preparation. All these industries witness the negative affect of COVID-19, thus affecting the demand of charcoal.
Insights Presented in the Report
“Amongst Type, Lump charcoal category dominated the market in 2020.”
Based on type, market is categorized into lump charcoal, charcoal briquette, Japanese charcoal, sugar charcoal, and others. Among these, lump charcoal category held the largest revenue share in 2020. Large application area and less manufacturing intricacy are two of the key attributable for its high demand. However, during forecast charcoal briquette category is likely to showcase fastest growth rate owing to increasing demand for barbeque food.
“Amongst Application, Metallurgical and Cooking Fuels categories dominated the market in 2020.”
Based on application, market is categorized into metallurgical fuel, cooking fuel, industrial, filtration, and others. Of all, metallurgical and cooking fuels categories are the largest consumers of charcoal. Large use of charcoal in heavy metal industries in South American countries like Brazil and tradition of barbecue in western economies are some of the factors for their large share in the pie.
“South America and Middle East & Africa are the largest consumers of Charcoal”
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). South America and Middle East & Africa dominates the market with a significant share of the pie. Rising concern to protect the environment from hazardous carbon emission and increasing population along with urbanization are driving the market of charcoal in these regions. 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.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive country level analysis of the industry
Customization Options:
The Global Charcoal Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Charcoal three major steps undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Charcoal industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Charcoal through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Charcoal market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. Major segments included in the report are by type and application. Further regional and country-level analyses were conducted to evaluate the overall adoption of the Charcoal globally.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Charcoal. Further, we conducted factor analysis using dependent and independent variables such as growing demand for electricity due to rising urban population, increasing industrialization in developing economies etc. A thorough analysis was conducted for demand and supply-side scenario considering top partnerships, merger and acquisition, business expansion, and product launches in the Charcoal industry.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Global Charcoal market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of Charcoal across the major markets
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Charcoal market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Global Charcoal market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and application.
The main objective of the Charcoal Market Study
The current & future market trends of Global Charcoal were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Charcoal in terms of volume (ton) and value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type and application
- Defined analysis of the regulatory framework for the Charcoal industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Charcoal for the major countries
- Major regions/countries analyzed in the report includes 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).
- Company profiles of the Charcoal market players and the growth strategies adopted by them to sustain in the growing market
- Deep dive country level analysis of the industry
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February 11, 2025
