Charcoal Market to Grow at a CAGR of 2.3% Over the Forecast Period 2020-2030, Exclusive Report by Future Market Insights

Charcoal market

Charcoal Market Players To Adopt Online Sales Channel Amid COVID-19 Crisis

JUMEIRAH LAKES TOWERS, DUBAI, UNITED ARAB EMIRATES, Jan. 6, 2022 /EINPresswire.com/ — A recent report from Future Market Insights (IMF) indicates that global charcoal sales will be around US$20 billion in 2020. Substantial demand will come from the residential sector, particularly in the developing regions of Asia-Pacific, Africa and South America where more than 2 billion people depend on wood energy for cooking and heating. The study further reveals that cooking and heating in private households accounts for around a third of global renewable energy consumption.

While the emergence of alternative energy sources is hampering the growth of the market, the demand from the chemical industry for the production of chemicals – carbon disulfide, sodium cyanide and carbon tetrachloride – reflects remunerative opportunities.

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Highlights

Charcoal chunks continue to generate higher revenue through 2030

Combustible raw materials will remain the main area of ​​application for charcoal

Charcoal adoption in the residential sector will continue for more than a decade

Hardwood will be the main revenue share, tentatively at 80%

Markets in Latin America and South Asia to provide potential growth avenues

“Foods prepared from charcoal grills (BBQs) offer various benefits, such as reduced oil consumption, nutritionally rich foods and low fat content. As consumers follow stay-at-home orders, at-home consumption is increasing and consumers are showing greater interest in indoor grilling. The trend is well established in the developed regions, in particular,” explains the IMF analyst.

Impact of COVID-19 on the charcoal market

As the global charcoal market faced a significant burden from the COVID-19 pandemic in the first and second quarter of 2020 due to trade restrictions, lockdowns and travel bans, resulting in a subsequent decline demand from several end-use industries such as chemicals, metallurgy and metallurgy and water treatment plants.

That being said, the gradual easing of pandemic-induced restrictions across continents raises high hopes for charcoal makers as these end-use industries get back on track.

While global chemical production declined in all categories through the first quarter of 2020, production finally showed positive signs during the second quarter of 2020, despite negative growth in some categories.

Going forward, as the COVID-19 pandemic continues to rage across the globe, governments and organizations are placing greater emphasis on treating wastewater as an essential public service to minimize potential impacts. on health and the environment. This, in turn, will further accentuate the need for charcoal-fired wastewater treatment plants.

Charcoal Market – Competitive Intelligence

The global charcoal market is highly competitive, with the presence of several players competing with each other to capture a larger share of the revenue. The majority of the leading players are devoting huge investments in R&D to deploy innovative offers that help increase production efficiency and thus improve their regional presence. Concrete example,

Greencoal Namibia CC produces pure hardwood lump charcoal made from 100% natural blackthorn wood. Charcoal offers improved lighting characteristics, reduced ash production and an incredible hardwood aroma.

Kingsford Products Company develops professional briquettes made with 100% natural ingredients and premium quality charcoal to ensure professional quality results. These briquettes burn better and feature a low ash formula.
Royal Oak Enterprises manufactures pure natural charcoal briquettes derived from wood, vegetable starch and contains no additional substances.

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Charcoal Market – Key Segment

type of wood

Softwood
Hardwood

type of product

piece of charcoal
Charcoal Briquettes
Charcoal powder

Application

fuel raw material
Reducing agent
Filtering agent and gas masking
bleaching agent

End use

Residential (cooking fuel, gardening)
Commercial paintings and sketches
Water treatment
Industry (metal and metallurgy, explosives and artillery, sugar, alcoholic beverages, chemicals and petrochemicals, pharmaceuticals, other industrial processes

Region

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa

To learn more about the charcoal market:

A new market research report released by Future Market Insights (IMF) on the Global Charcoal Market Report offers a comprehensive overview of market demand trends and opportunity analysis over the forecast period. 2020-2030.

The report examines the charcoal market across five different segments: product type, wood type, end use, application, and region. The Charcoal Market report also provides an in-depth assessment of pricing as per different key market dynamics, life cycle analysis and technologies that are deployed in charcoal manufacturing and product adoption in several end-use industries.

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Discover FMI’s extensive coverage in chemicals and materials

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About Future Market Insights (IMF)

Future Market Insights (FMI) is a leading provider of market information and advisory services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, USA and India. FMI’s latest market research reports and industry analysis help businesses meet challenges and make critical decisions with confidence and clarity amidst fierce competition. Our custom and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of analysts led by FMI experts continuously monitor emerging trends and events across a wide range of industries to ensure our clients are prepared for the changing needs of their consumers.

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Report: https://www.futuremarketinsights.com/reports/wood-charcoal-market

Source of press release: https://www.futuremarketinsights.com/press-release/wood-charcoal-market

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