The market is being driven by its applications in industries that require a constant temperature and high thermal efficiency (Steel plants). However, the market’s growth is being hampered by unfavourable conditions caused by the COVID-19 outbreak. According to latest research conducted on Coal briquettes market, it is expected to grow with a CAGR of around 4.2% during the forecast period 2022-2032 with garnering US$ 3,431.2 Million.
| Data Points | Key Statistics |
| Expected Market Value (2022) | US$ 2,273.8 Million |
| Anticipated Forecast Value (2032) | US$ 3,431.2 Million |
| Projected Growth Rate (2022-2032) | 4.2% CAGR |
What is Driving Demand for Coal Briquettes?
Coal briquettes are blocks which are made by the compression of the different components such as saw dust, charcoal, coal dust, wood chips, paper or peat by adding some kind of additives or binders to increase its physiochemical properties. These are majorly used as a fuel and kindling to start the fire.
These briquettes usually have longer burn as compare to charcoal. Due to its property of long run burning with cooler heat makes it more easy to use. They are helpful in maintain the temperature.
The key driving factor for this market is its applications which are used in manufacturing industries, such as steel industry where high temperature and heat is required. As they have longer burn capacity they help in maintain the temperature and emits less harmful gases as compare to conventional options.
They are also used in ceramics industry. Apart from the manufacturing industries, nowadays briquettes are in limelight for their use in barbequing of food. Their longer burn property make them ideal for the use of low & slow cooking.
The trends and choices in food are consistently changing and the barbequed food is one of the trends. These are extensively used in the food parks, restaurants and hotels for the barbeque purpose.
Request Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-14138
Demand & Role of Coal Briquettes:
Coal Briquettes are blended with additives and binders which also decides its properties and its uses. Different binders can reform its properties. When compared to burning raw coal, coal briquettes greatly boost thermal efficiency and minimize coal-fired pollutant emissions in industrial boilers and kilns.
This is one of the major driving factor in propelling the demand for this market. The use of additives in coal briquettes has opened up a whole new universe for the logical use of low-quality coal and coal with a high sulphur content.
When briquettes are blended with slaked lime, they are helpful in decomposing the CO2 gas, hence the application slightly changes with the different binders.
The major demand comes from the industrial sector while its usage in providing variety of food also helps in the boosting the market growth. As these both industries will continue to grow hence it will impact the market positively.
Asia Pacific Demand Market Outlook for Coal Briquettes:
Asia-Pacific is expected to dominate the market for coal briquettes during the forecast period. Owing to the rising demand from food as well as industrial sector. They are widely used for open fires and multi-fuel stoves. India, China are top consumers of these briquettes owing to due to large population.
Conventional methods of cooking is quite popular in India as it’s a cheap source for domestic requirements. People find it much more affordable to use and it is easily available too. Moreover, the increasing spending on commercial foodservice sector is also driving consumption of this product as urbanization increased in the region.
Europe Demand Outlook for Coal Briquettes:
Europe is expected to play significant role in the driving the demand of the market. Food and ceramics industry are the key market drivers for this region. The lifestyle of people, their preferences and standard of living all are the considerable factors for the growth of the market. These industries are expected to grow with the time which will drive the market growth.
However the market faces regulatory pressure in the region, as many countries including Germany and UK and contemplating tightening the rules owing to significant opaqueness in the import source and trade of these type of charcoal products, particularly from illegal deforestation activities in other countries.
Get Customization on This Report for Specific Country @ https://www.futuremarketinsights.com/customization-available/rep-gb-14138
Who are the Key Manufacturers and Suppliers of Coal Briquettes?
The Coal Briquettes market is consolidated in nature, with the top players accounting for a major share of the market. Some of the key companies in the market include
- ITO Global Trading Company
- Snesmi Techno Pvt Ltd
- Sun Company
- Coal Hut
- Milazzo Industries
- Milward alloys Inc.
- Halogen supply Co. Inc.
- Bepex international llc
- Dauber co. etc.
Manufacturers are focusing on increasing transparency pertaining to the sourcing of wood based raw materials that are used for producing these charcoals, in order to meet new regulatory norms and build confidence in consumers.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Key Segments Profiled in the Global Coal Briquettes Market
Coal Briquettes Market by Appearance Type:
- Pillow Shaped Coal Briquettes
- Hexagonal Shaped Coal Briquettes
- Round Shaped Coal Briquettes
- Square Shaped Coal Briquettes
Coal Briquettes Market by Composition Type:
- Wood Charcoal Briquettes
- Coal Dust Briquettes
- Peat & Paper Coal Briquettes
- Saw Dust Coal Briquettes
- Wood Chips Coal Briquettes
Coal Briquettes Market by Application:
- Coal Briquettes for Industrial Applications
- Coal Briquettes for Food Preparation
Coal Briquettes Market by Region:
- North America Coal Briquettes Market
- Europe Coal Briquettes Market
- Asia Pacific Coal Briquettes Market
- Latin America Coal Briquettes Market
- Middle East & Africa Coal Briquettes Market
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
to be continued…!
Related Links:
https://anotepad.com/notes/8qw7cpnc
https://careero.mn.co/posts/31005193
https://waoop.com/read-blog/39686
https://writeablog.net/10klqxe0zw
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
LinkedIn| Twitter| Blogs
