Coal Briquettes Market Size

Coal Briquettes Market size was valued at USD 2.43 Billion in 2023 and is expected to exceed USD 4.26 Billion by the end of 2036, registering over 4.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of coal briquettes is evaluated at USD 2.52 Billion. The growth of the market can be attributed to the increasing adoption of clean energy. Further, the growing concern about the environment across the globe is also expected to add to the market growth. Clean energy comes from existing replenished natural processes or sources. For instance, since charcoal briquettes are made from agricultural and forestry waste, they don't harm the environment.  Lately, over 30% of India's primary energy consumption comes from renewable sources.

In addition to these, factors that are believed to fuel the market growth of coal briquettes include the rising demand in the manufacturing industry. For instance, they are used in industrial boilers and kilns in manufacturing industries. Since coal briquettes have a high thermal calorific value, they emit fewer pollutants compared to other fuels.