Coal Briquettes Market Trends

  • Report ID: 3977
  • Published Date: Jun 07, 2024
  • Report Format: PDF, PPT

Coal Briquettes Market Trends

Growth Drivers

  • Growing Environment Degradation – On account of the increasing population, the market is expected to expand more in the upcoming years. Further, urbanization, intensification of agriculture, and others factors may contribute to environmental changes which in turn is encouraging the majority of the population to use sustainable energy methods and heavily invest in environmentally friendly power-generation technology. According to data, more than 5% percent of tropical forest species will go extinct every ten years at the current rate of destruction.

  • Rising Demand for Alternate Fuel Resources – The growing energy problem and the deteriorating environment has resulted in the need for alternative energy fuels. In terms of alternative fuels used by alternative fuel cars, natural gas made for more than 50% of total consumption.

  • Surging Demand in Metallurgy Industry – According to the most recent data, approximately 90% of all metal produced each year in the United States and across the world are made up of iron and steel.

  • Growing Investments in Coal Briquettes by Several Asian and African Countries– On the account of growing demand for renewable energy many developing regions are heavily investing in coal briquettes. According to studies by 2030, it is anticipated that Asia may account for over 80% of the world's coal demand.

Challenges

  • Challenges in Making Coal Briquettes - The difficulties associated with the production of coal briquettes is one of the major factors predicted to slow down the market growth. For instance, densification during the production of briquettes demands additional energy, which complicates the process.
  • Exorbitant Initial Cost for Briquettes
  • Lack of Infrastructure for the Production of Briquettes

Coal Briquettes Market: Key Insights

Base Year

2023

Forecast Year

2023-2036

CAGR

4.5%

Base Year Market Size (2023)

USD 2.43 Billion

Forecast Year Market Size (2036)

USD 4.26 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Author Credits:  Dhruv Bhatia


  • Report ID: 3977
  • Published Date: Jun 07, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing environment degradation and the rising demand for alternate fuel resources are the major factors driving the market growth.

The market is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2023-2035.

Exorbitant initial cost for briquettes, and lack of infrastructure for the production of briquettes are estimated to be the growth hindering factors for the market expansion.

The market in the European region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Timber Charcoal Company Co. LLC, Gryfskand sp. z o.o, Kingsford Products Company, Royal Oak Enterprises, LLC, Weber-Stephen Products LLC, Snesmi Techno Pvt Ltd, Sun Company, Halogen Supply Co. Inc., Vale S.A., and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by composition, application and by region.

The wood charcoal segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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