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Charcoal is a manmade black carbon residue product that is produced by strongly heating the plant material or heating the wood. This process is carried out in negligible oxygen to remove volatile and water constituents. Charcoal acts as a substitute for coal and is widely used in food industries and industrial filters for applications like barbecued food, water treatments, and others. The growing demand for industrial waste and extensive use of charcoal for barbecued food is expected to drive the charcoal market.
Based on the product type, the market is segmented into charcoal briquettes, lump charcoal, Japanese charcoal, and others. The lump charcoal is expected to dominate the market segment in terms of value owing to its advantage of quick-burning and achieving a higher temperature rate with relatively low carbon emission compared and high calorific value to other charcoal types. Based on this factor, the lump charcoal has been adapted in the end user industry and is anticipated to grow during the forecast period.
Based on the application, the market is segmented into metallurgical fuel, barbeque, filtration, industrial, and others. The food and agriculture industry is anticipated to dominate the market segment owing to the increasing adaption of charcoal in barbecued food and food consumption characterized by a barbecued cooking setting. Other than that the increasing demand for potable drinking water and increasing awareness about water wastage has witnessed the high demand for charcoal on account of absorbent properties.
One of the major drivers for the global charcoal market is the growing industrial wastewater which has a growing demand for extensive charcoal for water purification. Other than that, the adaption of barbequed setting in recreational cooking drives the charcoal market.
The initiative by the government for regulating and monitoring deforestation has restrained the market growth of charcoal.
Key Market Driver -
The growing demand of charcoal in waste-water industry and extensive use of charcoal in recreational cooking are the major driver for charcoal market.
Key Market Restraint -
The stringent laws and government regulation for ecofriendly fuel usage hinders the charcoal market.
Some of the major companies present in the global charcoal market are Kingsford Company, Royal Oak Inc., Fire and Flavor, Cook International, Fogo Charcoal, Saint Louis Charcoal Company LLC, Rancher Charcoal, The Original Charcoal Company, and Charcoal Supply Co.
The charcoal market has been studied across North America, Europe, Asia Pacific, Latin America, the Middle East & Africa. Latin America has significant market domination in terms of volume as most of the regions use charcoal as the primary fuel for cooking and other applications which has also aroused investments in mining across the region. In Europe and North America, millions of people have adapted barbequed food and are frequent cooking setting for a long period and government regulations for water quality standard, and assess water quality trends has driven the charcoal market across the region. Though the government regulations and public awareness about the deforestation for charcoal may hinder the charcoal market across the region. The Asia Pacific has the largest charcoal produces in China and others. Whereas, Indonesia, China, South Korea are the major exporters across the region.
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