Charcoal Briquette Market Anticipated to Grow Amid Eco-Friendly Fuel Alternatives by 2025–2032
Due to growing demand for the product in recreational cooking, metal manufacturing, building & construction, healthcare, industrial filtration, and pharmaceutical applications, the Charcoal Briquette Market is anticipated to expand significantly over the anticipated period. In recreational cooking, charcoal serves as a substitute for coal as a fuel. The popularity of barbecue cooking in restaurants is also anticipated to increase demand. It can burn up to 370 degrees Celsius while emitting comparatively little carbon dioxide during the manufacture of metal. Due to its great heating capability, charcoal is employed as a metallurgical fuel in the production of steel and iron.
Charcoal Briquette Market size was valued at USD 12.9 billion in 2023 and is poised to grow from USD 13.65 billion in 2024 to USD 21.43 billion by 2032, growing at a CAGR of 5.8% during the forecast period (2025-2032).
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The need for iron and steel rises with the expansion of the building and construction sector in developing nations like China and India, which is projected to have a beneficial impact on the growth of the charcoal briquette market. When used with cement, charcoal briquette increases the cement's overall strength and serves as a binder for lightweight concrete. Additionally, it improves the performance of traditional concrete by reducing the quantity of pores. The construction industry's rising demand for cement, particularly in Asia Pacific, is anticipated to drive the market expansion. In the medical and pharmaceutical fields, activated charcoal is used as a detoxifier. The substance improves antifungal defense, lessens dyspepsia, and purifies blood. Due to its excellent adsorbent properties, charcoal powder is easily employed in cases of poisoning, drug overdoses, and alcohol overdoses. The product also aids in cleansing the body of hazardous pollutants. The demand for the product is projected to increase in the years to come due to expanding medical research into the usage of charcoal in healthcare applications.
Charcoal Briquette Market Segments Analysis:
Charcoal Briquette Market is segmented by Type, Material, Production Technology, End Use, Application and region.
Based on Type, the market is segmented into Hexagonal Charcoal Briquettes, EggShaped Charcoal Briquettes, Square Charcoal Briquettes and Stick Charcoal Briquettes.
Based on Material, the market is segmented into Hardwood Charcoal Briquettes, Softwood Charcoal Briquettes, Coconut Shell Charcoal Briquettes and Bamboo Charcoal Briquettes.
Based on Production Technology, the market is segmented into Extrusion, Briquetting and Carbonization.
Based on End Use, the market is segmented into Residential, Commercial and Industrial.
Based on Application, the market is segmented into Grilling, Barbequing, Heating and Industrial Processes.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Charcoal Briquette Market Key Players:
ITO Trading Company (India)
Snesmi Techno Pvt Ltd (India)
Sun Company (US)
Coal Hut (UK)
Milazzo Industries (US)
Milward alloys Inc. (US)
Halogen Supply Co. Inc. (US)
Bepex international llc (US)
Dauber co. (US)
BBCharcoal (US)
Paraguay Charcoal (US)
Charcoal Briquette Market Regional Insights:
North America held the largest share of the charcoal briquette market during 2021. The modest growth in North America is owing to the rise in the cost of conventional fuel sources. In comparison to other conventional fuel sources, charcoal briquettes are fairly inexpensive. The industry size is anticipated to increase because of the rising demand from the residential sector. Europe has a legal obligation to use clean energy sources to reduce GHG emissions. Clean energy sources are predicted to be driven by the severe pollution regulations and rising concern over warming.
Due to substantial use by growing nations like India and China, where the majority of the population still lives in rural regions, the Asia Pacific region is expected to dominate the industry size. With regard to agriculture, both nations are independent. The agricultural waste is easily transformed into charcoal briquettes for use as fuel in household applications such as heaters and boilers. Due to a lack of infrastructure, African nations rely primarily on natural resources. As a result, for a wide range of applications, charcoal briquettes prove to be the optimum supply.
Charcoal Briquette Market Recent Developments:
In March 2022, A division of The Clorox Company called Kingsford Products Company introduced a new product line of distinctively scented charcoal and hardwood pellets. With a variety of flavors and aromas, this product's primary goal is to enhance the grilling experience. This will enhance the company's line of products.
What's more, it likewise covers the request and give of the promoting research concentrate in the assessed figure time frame. Explained investigation of the market players with their profile, deals examination and serious scene is given in the report. Besides, organization, joint effort and consolidations in the business are referenced for the accommodation of the investigation of the Charcoal Briquette industry.
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Objectives of the Study:
• To forecast the market size, in terms of value, for various segments with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
• To provide detailed information regarding the major factors influencing the growth of the Market (drivers, restraints, opportunities, and challenges)
• To strategically analyze the micro markets with respect to the individual growth trends, future prospects, and contribution to the total market
• To provide a detailed overview of the value chain and analyze market trends with the Porter's five forces analysis
• To analyze the opportunities in the market for various stakeholders by identifying the high-growth Segments
• To identify the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
• To analyze competitive development such as joint ventures, mergers and
acquisitions, new product launches and development, and research and development in the market
Looking ahead, the Charcoal Briquette Market is poised for continued growth, driven by evolving consumer preferences and ongoing innovations. The trend towards sustainability is expected to strengthen, with more consumers seeking products that align with their values. Additionally, the integration of advanced technologies and digital platforms will likely further enhance market accessibility and consumer engagement. The Charcoal Briquette Market is a dynamic and evolving landscape, shaped by a confluence of trends and factors.
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