Briquette Market Size, Share & Industry Analysis, By Type (Spruce, Pine, Beech, Straw, Others), By Application (Heating of Residential and Commercial Buildings, District Heating And Electricity Production), By End-Use (Pharmaceutical Industry , Food , Chemical Industry, Dye and Pigment, Paper Mills , Textile Industry, Leather Manufacturing) And Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
Briquettes are the small brick that is made of sawdust, forest waste, wood shaving, sugarcane waste, bamboo waste, and paper waste. Spruce, pine, beech, and straw are the different categories of briquette. It is available in logs, sawdust, chips, loose, and bales form. Additionally, the briquettes have low sulfur content, higher bulk & specific density, good boiler efficiency, and practical thermal value. Also, it is environmentally friendly, biodegradable, and affordable. The product finds its utilization in a wide range of applications such as pharmaceutical industry, food, chemical industry, dye and pigment, paper mills, textile industry, and leather manufacturing.
The increasing demand of the resources for the production of electricity while controlling the environment pollution will contribute to a surge in the demand for briquette. The product is ideal for the heating of industrial boilers, the production of electricity from steam, and even cooking. Further, it is cost-effective and offers an eco-friendly solution. These benefits also make it a preferred choice when compared with other conventional energy sources including coal, firewood, and charcoal, lignite. Hence, increasing demand for the product in fire production will boost the briquette market growth during the forecast timeline.
However, fluctuation in the raw material prices impacts the overall prices of briquette. This further leads to restrict its adoption in various applications and is anticipated to hamper the market growth.
Key Market Driver -
The rising demand for the briquette for heat production to drive the market growth.
Key Market Restraint -
Fluctuation in the prices to hamper the market growth
Market Segmentation:
Based on type, the briquette market is segmented into spruce, pine, beech, straw, and others. Based on application, the market is segmented into heating of residential and commercial buildings, and district heating and electricity production. Based on end-use, the market is segmented into pharmaceutical industry, food, chemical industry, dye and pigment, paper mills, textile industry, leather manufacturing, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Key Players Covered:
The key players in the briquette market include C.F. Nielsen, EN plus briquettes, PACIFIC BIOENERGY, Lignetics, ECOSTAN, Pfeifer Holding GmbH, Biomass Secure Power Inc., Maine Woods Pellet Company LLC, FORMOSO TECHNOLOGIES GROUP, Shree Shyam Dealcom, Ukrainian Biofuel Suppliers, Vidhyut Power & Systems, LEHRA FUEL TECH PVT LTD, and Henan Mining Machinery Co., ltd.
Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenarios
- Porters Five Forces Analysis
Regional Analysis:
North America is anticipated to witness sustainable growth in the briquette market. The growth is attributed to the rising product adoption in the production of heat. In addition, the rapid growth in the pharmaceutical industry will fuel the market growth in this region. The increasing use of pine briquette in paper mil and leather manufacturing will boost the market growth in Europe, in which UK and Germany are the leading contributors. In Asia Pacific, the rise in product demand is attributed to the increasing briquette adoption in the chemical and textile industry. The Middle East & Africa is anticipated to witness significant growth, owing to rising product utilization in the district heating and electricity production.
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Segmentation
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- Ongoing
- 2023
- 2019-2022
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