(MENAFN- GlobeNewsWire - Nasdaq) The Global Coal Briquettes Market was valued USD 3.0 Billion in 2023 and projected to reach USD 4.6 Billion by 2030, growing at a CAGR of 5.6% during the forecast period of 2023-2030
Richmond, Feb. 13, 2024 (GLOBE NEWSWIRE) -- According to a research report " Coal Briquettes Market” , by Appearance Type (Pillow Shaped, Hexagonal Shaped, Round Shaped, Square Shaped, Others), Composition Type (Wood Charcoal, Coal Dust Briquettes, Peat & Paper, Saw Dust, Wood Chips, Others), Application (Industrial Applications, Food Preparation, Others) and Region - Global Forecast to 2030.
Global Coal Briquettes Market Report Scope:
| Market size value in 2023
| USD 3.0 Billion
| Market size value in 2030
| USD 4.6 Billion
| CAGR (2023-2030)
| Forecast Period
| Historic Data
| Forecast Units
| Value (USD Million/USD Billion)
| Segments Covered
| Appearance Type , Composition Type , Application, End User and Region
| Geographies Covered
| North America, Europe, Asia Pacific, and RoW
| Sample of Companies Covered
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TOC Covers in Depth & Breath on Coal Briquettes Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits .
The Coal Briquettes Market is undergoing dynamic changes influenced by various vital factors and promising prospects. A key catalyst driving the market's expansion is the increasing demand for cleaner and more sustainable energy sources, propelled by heightened environmental awareness and stringent regulations. With global concerns about climate change on the rise, the market is benefiting from a transition towards cleaner alternatives, where coal briquettes are emerging as a feasible and environmentally friendly choice. Additionally, the market is being propelled by the escalating prices of conventional fuel sources, positioning coal briquettes as a cost-effective and appealing substitute for diverse industries and households. Within this evolving landscape, the market also reveals substantial opportunities for growth. The growing adoption of advanced technologies in the production and utilization of coal briquettes opens avenues for improved efficiency and quality, fostering innovation within the industry. Furthermore, the increasing focus on rural development and the demand for sustainable energy solutions in emerging economies create a fertile environment for market expansion. As governments worldwide intensify their endeavors to achieve renewable energy targets and decrease carbon footprints, the Coal Briquettes Market is well-positioned to leverage these opportunities, shaping a future characterized by sustainable energy practices and economic viability.
Major Vendors in the Global Coal Briquettes Market:
Bepex International LLC Coal Hut Dauber Co. Halogen Supply Co. Inc. Milazzo Industries Milward Alloys Inc. Snesmi Techno Pvt. Ltd Sun Company
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Increasing popularity of barbeque food
One of the primary drivers for the global Coal Briquettes Market is the surge in the popularity of barbecue cuisine significantly propels the Coal Briquettes Market, influencing the preference for charcoal briquettes as the go-to fuel source for grilling. Various factors contribute to the growing prominence of barbecue food, thereby driving the expansion of the Coal Briquettes Market. Evolution in Culinary Trends and Food Culture: A discernible shift in culinary preferences and food culture is evident, with barbecue emerging as a widely celebrated and enjoyed cooking method. Beyond its role in food preparation, barbecuing has evolved into a social and cultural activity, fostering a sense of community and enjoyment. Association with Outdoor Cooking and Entertainment: Barbecues have become synonymous with outdoor cooking and entertainment. The social aspect of gathering with friends and family for outdoor grilling events has gained traction, resulting in an increased demand for reliable and efficient fuel sources. Charcoal briquettes, with their ease of use and consistent heat output, have become a preferred choice. Flavor Enhancement: The distinct flavor imparted to grilled food, attributed to the smoky aroma produced during the barbecue process, is widely appreciated. Charcoal briquettes play a role in enhancing this unique flavor profile, contributing to the overall appeal of barbecued dishes. Convenience and Accessibility: Charcoal briquettes are readily available, cost-effective, and user-friendly. The convenience they offer makes them a favored choice among consumers who regularly indulge in barbecue cooking. The widespread availability of charcoal briquettes in the market further contributes to their adoption. Alignment with Outdoor Lifestyle and Recreational Activities, The increasing interest in outdoor lifestyles and recreational pursuits, such as camping and picnics, has fueled the demand for portable and efficient grilling options. Charcoal briquettes align with this trend, providing a portable and user-friendly solution for outdoor cooking enthusiasts. Impact of Marketing and Branding, The efforts in marketing and branding by barbecue equipment manufacturers and charcoal briquette producers play a pivotal role in promoting the overall barbecue experience. Advertising campaigns often highlight the convenience, flavor enhancement, and social aspects associated with using charcoal briquettes for grilling.
Growing steel and cement industries Increasing adoption of clean energy Rising demand in the manufacturing industry Increasing popularity of barbeque food
Rising demand for BBQ charcoal Various government initiatives Shift towards the improved stove and higher efficiencies Increasing concern for environmental protection
Increasing concern for environmental protection
The growing concern for environmental preservation about the Coal Briquettes Market arises from acknowledging both the immediate and long-term environmental consequences associated with conventional coal and fossil fuel utilization. Despite being perceived as a more environmentally friendly option in comparison to raw coal, coal briquettes raise notable environmental apprehensions. The combustion of coal briquettes results in the emission of greenhouse gases, including carbon dioxide, contributing to global warming and climate change. These repercussions extend to weather patterns, ecosystems, and sea levels. Furthermore, the combustion process of coal briquettes generates particulate matter and pollutants, compromising air quality. This not only impacts the environment but also poses health risks to humans, leading to respiratory issues and other health-related problems. The production of charcoal briquettes frequently relies on wood as a primary material, and unsustainable wood harvesting for charcoal production can contribute to deforestation. This, in turn, leads to the loss of biodiversity, disruption of ecosystems, and adverse effects on soil quality. Traditional coal mining, even in the context of briquette production, can result in habitat destruction, soil erosion, and disruption of local ecosystems. The extraction process may contribute to environmental degradation and a decline in biodiversity. Moreover, the production process of coal briquettes may generate waste and by-products that necessitate proper disposal. Inadequate waste management can result in the pollution of water bodies and soil, negatively impacting local ecosystems. This multifaceted environmental impact underscores the imperative for the Coal Briquettes Market to adopt more sustainable practices and explore alternative materials to mitigate its ecological footprint.
North America dominates the market for Coal Briquettes.
North America is experiencing modest growth due to an uptick in conventional fuel prices, with charcoal briquettes proving to be a more cost-effective option compared to other traditional fuel sources. The residential sector's increasing demand is anticipated to contribute to the expansion of the industry. In Europe, efforts to curb greenhouse gas (GHG) emissions involve the adoption of clean energy sources. Stringent emission regulations and a growing global warming awareness are anticipated to propel the use of clean energy sources in the region. The Asia Pacific region is expected to dominate the industry, primarily driven by the substantial utilization in emerging economies like India and China. These countries, with a significant rural population, rely on charcoal briquettes, derived easily from agricultural residue, for heating, boilers, and residential applications. Both nations exhibit self-reliance in the agricultural sector. African countries, facing infrastructure challenges, heavily depend on natural resources. Consequently, charcoal briquettes have emerged as a versatile and efficient energy source for various applications.
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The Hexagonal Shaped Segments is anticipated to hold the Largest Market Share during the Forecast Period
In the global Coal Briquettes Market, the Appearance Type segment comprises various categories such as Pillow Shaped, Hexagonal Shaped, Round Shaped, Square Shaped, and Others. The hexagonal category accounted for the largest market share of the global charcoal briquettes market in 2022, based on appearance type. This is mainly ascribed to its preference among restaurants and hotels for the preparation of barbecued food. The hexagonal shape provides uniform heating during grilling, thus resulting in tasty food. Further, the easy conversion of non-uniformly shaped charcoal to hexagonal shape, which results in its higher availability, is also propelling its demand.
Segmentations Analysis of Coal Briquettes Market: -
By Appearance Type
Pillow Shaped Hexagonal Shaped Round Shaped Square Shaped Others By Composition Type
Wood Charcoal Coal Dust Briquettes Peat & Paper Saw Dust Wood Chips Others By Application
Industrial Applications Food Preparation Others By Region
North America Latin America Europe Asia Pacific Middle East & Africa
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