Coal Briquettes Market: Current Analysis and Forecast (2022-2028)
Emphasis on Composition (Coal Dust, Sawdust, Wood Charcoal, Wood Chips, Peat & Paper, and Others); Application (Food Processing, Metallurgy, and Others); and Region/Country
Global Coal Briquettes Market is expected to grow at a significant rate of around 5% during the forecast period 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. Due to their increasing use in industrial and commercial heating applications, as well as rising industry demand, coal briquettes have seen increased demand in recent years attributed to their lower density, lower moisture content, 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.
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 are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst composition, wood charcoal category to witness higher growth during the forecast period”
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. Additionally, the increased use in the food & beverage industry and higher calorific value, lesser smoke, and lower ignition temperature compared to its alternative product are likely to support the market expansion during the projection period. Furthermore, wood charcoal has a porous nature that allows it to absorb gases and liquids on its surface and is extensively used in gas masks, water filters, and anti-gastric tablets or powder, and it is expected to have significant market growth in the future.
“Amongst application, the metallurgy segment to hold a significant CAGR in the market in 2020”
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.
“Asia-Pacific to hold a significant share in the market”
In 2020, Asia-Pacific held a significant share of the global coal briquettes market. 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. For instance, in July 2019, Bar-Be-Quick launched eco-friendly wood-free briquettes manufactured by the coconut husk, mango stone, and corn store and could be used as an alternative to wood charcoal as they are odorless and chemical-free.
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 an 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 regional level analysis of the industry.
Customization Options:
The global coal briquettes 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
Research Methodology for the Coal Briquettes Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global coal briquettes market were the three major steps undertaken to create and analyze the adoption of coal briquettes in major regions globally. 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 global coal briquettes market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting 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 of 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 coal briquettes market through company internal sources such as annual reports & 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 coal briquettes market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as composition and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
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 the coal briquettes market. Further, we conducted factor analysis using dependent and independent variables such as the composition and applications of coal briquettes. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the coal briquettes market sector across the globe.
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 coal briquettes market, and market shares of the segments. 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., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the coal briquettes market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global coal briquettes 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, 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
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global coal briquettes market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of composition, and application in the global coal briquettes market.
The main objective of the Global Coal Briquettes Market Study
The current & future market trends of the global coal briquettes market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the coal briquettes market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of composition and application.
- Define and analysis of the regulatory framework for the coal briquettes
- 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 coal briquettes market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the coal briquettes market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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