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Charcoal briquettes are renewable and GHG neutral fuel alternatives used for coal-fired heaters, boilers, and modern combustion systems. The charcoal briquettes are made by turning the wood dust into charcoal dust, which is then compressed to form briquettes. Charcoal briquettes are the best alternative fuel option to mitigate global warming. In emerging economies, charcoal briquette production and trade contribute to the national economy by providing rural incomes, tax revenue, and employment. Many African and Asian countries projected to invest in increasing the production of the charcoal briquette to meet the growing demand for energy. Simultaneously, the paradigm shift towards eco-friendly energy sources set to increase the market size.
The global charcoal briquette market is divided into type and application. Based on type, the market is further bifurcated into the wood and other types. Charcoal briquettes are produced by using woods dust, forest, and agriculture residues. Wood-based charcoal briquette is expected to dominate the industry size. Based on the application, the charcoal briquette market is split into metallurgical, BBQ, and others. The metallurgical segment is projected to dominate the market, owing to the growing demand for different types of metals in many industries.
Key Market Driver -
The growing concern over rising GHG emission
Key Market Restraint -
Complications involved in producing charcoal briquettes
The growing concern over enormous carbon emission and shifting trends towards the adoption of clean energy sources likely to boost the charcoal briquette market. Charcoal briquettes are made from forest and agriculture residue, which does not pose any risk to the environment. Thus it is the best alternative for conventional fuel sources that expected to propel the industry size.
The lack of infrastructure for the production of charcoal briquettes and the requirement of specific machinery expected to restrain the growth of the industry. Also, the lack of awareness among consumers might limit the scope of the market.
Some of the prominent companies in the charcoal briquette market are BBCharocal, Kingsford Products Company, The Henry Ford, VESP Energy, ArSta eco, Holzkohlewerk Lüneburg, OTAGO, Duraflame, Inc. PT. Cavron Global, and Paraguay Charcoal
The charcoal briquette market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America exhibits slight growth owing to an increase in the prices of conventional fuel sources. Charcoal briquettes are relatively economical than other traditional fuel sources. The growing demand from the residential sector is expected to boost the industry size. Europe is binding to reduce GHG emissions by adopting clean energy sources. The strict emission norms and growing concern over global warming are expected to drive clean energy sources.
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Asia Pacific is projected to dominate the industry size owing to extensive use by emerging economies such as India and China, where most of the population still lives in rural areas. Both countries are self-reliant in the agricultural sector. The agricultural residue can easily be converted into charcoal briquettes to use as fuel in heaters, boilers and residential applications. African countries are mostly relied on natural resources owing to lack of infrastructure. Thus charcoal briquettes prove to be the best source for a wide variety of applications.
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