Coal Briquettes Market: Current Analysis and Forecast (2022-2028)

Coal Briquettes Market: Current Analysis and Forecast (2022-2028)

Coal briquettes are made up of compressed wastes such as bamboo, sawdust, forest waste, wood shaving, and others and produce a high BTU of about 8100 per pound. Coal briquettes are used as the desirable fuel due to the lower smoke, longer durability, higher thermal energy as well as lower ash content, and uniform shape. In recent times, coal briquettes witnessed higher demand due to their growing adoption for commercial and residential heating applications along with the increasing demand from the industries attributed to the lower density, moisture, and higher efficiency along with the higher thermal calorific value. Also, rapid industrialization and growth in the manufacturing sector & metallurgy industry among others are expected to support market growth. Furthermore, the lower purchasing & operational costs than its counterpart as well as no sulfur content in the coal briquettes and easiness in the storage & transportation of the coal briquettes are expected to propel the market growth during the forecast period.

The Coal Briquettes Market is expected to grow at a steady rate of around 5% owing to the increasing adoption in the industries such as the steel industry, and manufacturing among others for the heating application coupled with government regulation to reduce the emission. Major companies in the market are focusing to provide coal briquettes with technologically advanced features along with new product launches, collaboration, and mergers & acquisitions. For instance, in January 2022, Weber Inc. announced the launch of three new products with outdoor cooking innovation, smart technology, and high-quality material including SMOKEFIRE Wood Fired Pellet Grill.

• Based on the composition, the market is segmented into coal dust, sawdust, wood charcoal, wood chips, peat & paper, and others. The wood charcoal segment is expected to witness significant market growth during the forecast period owing to the lower cost of production and higher availability. Also, the higher calorific value, lower smoke, and lower ignition temperature compared to its substitute product and increasing adoption in the food & beverage industry are expected to support the market growth during the forecast period. Additionally, wood charcoal is porous in nature and absorbs gases and liquid on its surface and is widely used in gas masks, water filters, and anti-gastric tablets or powder and is expected to register significant market growth in the coming time.
• Based on the application, the market is bifurcated into food processing, metallurgy, and others. The metallurgy segment is expected to register a significant CAGR during the forecast period owing to the higher demand for the different types of metal in the industries. Additionally, the increasing cost of alternative fuels such as HSD, gasoline, and gases opens lucrative opportunities for coal briquettes for heating and other application and is expected to propel the demand for coal briquettes.
• For a better understanding of the market adoption of the coal briquettes industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Asia-Pacific is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the rapid industrialization and growing food & beverage industries in the region coupled with the increasing disposable income of the individual. Also, the rapid urbanization in the region and growing industries such as steel, iron, and silicon manufacturing, among others is expected to support the market growth. Additionally, the price volatility of substitute products and stringent government norms for carbon emission such as automated monitoring of the emission through CEMS (Continuous Emission Monitoring System) will support market growth in the coming time. Furthermore, technological advancement and increasing investment as well as increasing research & development activities are expected to support market growth. For instance, in May 2019, Western Beef Inc. inked an agreement with Prime 6 Charcoal to become a retail partner and to sell Prime 6 hexagonal charcoal briquettes for barbecue through Western beef Inc. store & website.
• Some of the major players operating in the market include Sun Company, Snesmi Techno Pvt. Ltd., Coal Hut, Milward Alloys Inc., Dauber Co., Milazzo Industries, Cowboy Charcoal Brand, VESP Energy, Duraflame Inc., and Paraguay Charcoal.