Coal Briquettes Market to Reach USD 3,626.9 million by 2033, Driven by Rising Demand in Steel Manufacturing

Coal Briquettes Market Size

The market demand for coal briquettes is anticipated to be valued at USD 3,626.9 million worldwide in 2023. With a compound annual growth rate (CAGR) of 4.4%, the market is anticipated to reach USD 3,626.9 million by 2033.

The coal briquettes industry with high energy is expanding owing to the expanding steel and cement sectors. Briquettes play a significant role in various sectors. Production and trading of coal briquettes also aid in the growth of the national economy by generating money for creating jobs in rural areas and raising taxes for the government.

The market is expected to develop due to rising concerns about massive carbon emissions and changing trends toward adopting sustainable energy sources. The production of charcoal briquettes from agricultural and forestry waste poses no environmental danger. It is, therefore, the ideal substitute for traditional fuel sources that are predicted to increase industry size.

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 market 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 market 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 market 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.

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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.

Recent Development:

  • The Bhilai Steel facility owned by The Steel Authority of India Ltd. underwent significant government modernization in June 2018. Following the improvements, the combined annual capacity for manufacturing steel at the integrated factories increased to 21 million tonnes.
  • New OUTSIDE firelogs from DURAFLAME Inc. are manufactured entirely from recycled and renewable wood, agricultural fibers, and bio-derived waxes. Using these firelogs, campers cook marshmallows, hot dogs, and other tasty treats over a crackling bonfire that produces less smoke.
  • The Eta Zuma West Africa Group opened a facility in January 2018 to manufacture and market coal briquettes as a substitute fuel for residential usage. The facility in Nigeria’s Kogi state has a monthly production capacity of 2,000 tonnes of coal briquettes.

Key Players

  • 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.

Key Segmentation of the Market

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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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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