The coal briquettes industry is on a robust growth trajectory, with forecasts projecting a significant rise from US$ 2,357.9 million in 2023 to US$ 3,626.9 million by 2033.
This remarkable surge is primarily attributed to the escalating demand from the burgeoning steel and cement industries, highlighting the crucial role that high-energy coal briquettes play across various sectors. Not only do these briquettes bolster economic expansion by boosting government revenue and generating employment opportunities in rural regions, but they are also instrumental in addressing the mounting concerns surrounding carbon emissions.
As sustainability becomes a paramount focus, the shift towards eco-friendly alternatives, such as charcoal briquettes crafted from agricultural and forestry waste, is poised to further amplify market growth. With their minimal environmental footprint, these innovative briquettes are well-positioned to supplant traditional fuel sources and drive the industry toward a more sustainable future.
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The need for more facilities for making charcoal briquettes and the need for specialized equipment are expected to impede the Industry’s expansion. Also, customers’ need for more knowledge constrains the market’s potential.
Key Takeaways
- By 2033, the coal briquettes industry in the United Kingdom is likely to expand, with a CAGR of 3.2%.
- In 2023, the United States is expected to develop the coal briquettes business with a share of 20.1%.
- The coal briquettes industry grew considerably to US$ 2,273.8 million in 2022.
- The coal briquettes sector expanded at a CAGR of 3.7% from 2018 to 2022.
- By 2033, China’s coal briquettes industry is projected to develop with a CAGR of 3.9%.
- By 2033, India’s coal briquettes industry is projected to expand with a CAGR of 4.7%.
- Japan’s coal briquettes industry is likely to grow significantly, with a 4.9% share in 2023.
- Australia’s coal briquettes are expected to develop with a share of 3.8% in 2023.
- Germany’s coal briquettes business is expected to grow, with a share of 5.3%% in 2023.
- In 2023, based on the application, the industrial segment is expected to dominate the market, with a share of 65.3%.
- In 2023, a wood charcoal segment is expected to dominate the market, with a share of 25.4%, based on composition.
Competitors Winning Strategies
Significant market participants in the global coal briquettes business are implementing various tactics, including product launches, alliances, and acquisitions, which increase industry interaction and opportunities during the forecast period.
Top Key Players in the Coal Briquettes Industry
- 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.
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Key Segmentation of the Coal Briquettes Industry
By Appearance Type:
- Pillow Shaped
- Hexagonal Shaped
- Round Shaped
- Square Shaped
By Composition Type:
- Wood Charcoal
- Coal Dust Briquettes
- Peat & Paper
- Saw Dust
- Wood Chips
By Application:
- Industrial Applications
- Food Preparation
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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