Global Charcoal Market is expected to grow in the forecast period of 2022-2028 at a CAGR of 4.25%.
According to the latest research by SkyQuest Technology, the global charcoal market was valued at USD 6.05 billion in 2021, and the market size is estimated to reach USD 8.09 billion by 2028, at a CAGR of 4.25% over the forecast period (2022 2028). The research provides up to date charcoal market analysis of the current market landscape, latest trends, drivers, and overall market environment.
Charcoal is a light weight black carbon residue that occurs from incomplete burning of wood, animal products, or plant materials. The charcoal is heated during the activation phase in order to loosen any materials that are stuck to it and break it down into smaller particles. The product is mostly used for outdoor cooking. Manufacturing industries also frequently employ it like in the manufacture of glass, cut glass, paints, electrodes, and plastic; in the chemical industry; in metallurgy, for example as a reductant (charcoal contains a significant amount of carbon). Also, in obtaining liquid minor products from the pyrolysis of wood resin (tar oil).
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The global charcoal market will expand significantly over the anticipated period because of rising demand in recreational cooking, metal manufacturing, construction and healthcare, industrial filters, and medicinal applications. In the recreation market, the use of charcoal as a fuel substitute for coal is gaining popularity. The need for charcoal will also be boosted by the popularity of grilling in restaurants. The burning of charcoal during the production of metal can reach a temperature of 370 degrees Celsius with relatively little carbon dioxide emissions. Charcoal is used as a metallurgical fuel in the production of steel and iron due to its high heating capacity. Steel and iron consumption will increase in the future due to the expanding building and construction sectors in rising nations like
China and India. Exclusive construction activity comprises of real estate (residential building) and non residential construction in commercial and industrial segments.
Due to the increased demand for charcoal, there has been an increase in deforestation. Growing government controls against deforestation and consumer awareness of eco friendly settings are anticipated to slow the growth of the global charcoal market. For example, the FLEGT Programme and National Mission for a Green India.
Global charcoal market key participants will profit from lucrative opportunities as consumers’ awareness of water waste, the need for potable water, and the low cost of charcoal rise. The market for charcoal has been negatively impacted by COVID 19. Governments everywhere took the required steps to stop the spread of disease, which led to the closure of factories and borders, which disrupted the supply chain for charcoal.
Read the market research report, “Charcoal Market By Product Type (Lump Charcoal, Charcoal Briquettes, Japanese Charcoal, Sugar Charcoal and Others), By Application (Outdoor Activities, Restaurant Business, Metallurgical Fuel, Industrial Fuel, Filtration and Others), & By Region Forecast and Analysis 2022 2028” by SkyQuest
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Industries are negatively impacted by COVID 19, which has an impact on the demand for charcoal. Charcoal companies are putting more of an emphasis on sustainability and long term growth following the impact of COVID 19 on numerous dimensions. After COVID 19, the coal and chemical industries played a crucial part in the economic recovery of nations. Indian consumers have refrained from importing the fossil fuel recently due to the record high global prices for coal brought on by a strong demand and a rise in freight charges. They have mainly depended on domestic stock instead. Due to state owned Coal India’s inability to meet the spike in local demand, this has caused the domestic stock to drop to its lowest point in more than three years. Coal India, which produces more than 80% of the nation’s coal, increased production but was still having trouble getting the coal to power plants.
The majority of regions in Latin America use coal as their primary source of energy for cooking and other purposes, giving the region a leading position in the global charcoal market in terms of volume. This has also encouraged mining investments throughout the region. Government rules for water purity standards and trend assessments have driven the market in Europe and North America, where millions of people have long since been accustomed to daily grilling of food. throughout the area of coal. Although regional coal markets may be hampered by government policies and public awareness of deforestation, China and other countries in the Asia Pacific region produce the most coal. The region’s top exporters are South Korea, China, and Indonesia.
Report Findings
• Drivers- The growing urban population in developing countries is driving up demand for charcoal. Hence, boosting the growth of global charcoal market. While charcoal is primarily used for recreational barbecues in North America and Europe, it is the principal cooking fuel in the majority of African countries.
• Restraint To ensure product quality and secure handling, a variety of regulations and guidelines have been put in place for the production of charcoal. The Canada Consumer Product Safety Act (S.C. 2010, c. 21), for instance, deals with the prevention of harm to human health or safety posed by consumer items in Canada, both domestically and internationally. According to the Food and Agriculture Organization of the United Nations, Zambian charcoal producers and small scale farmers
are principally to blame for the country’s widespread deforestation (FAO). The regions with the highest rates of deforestation as a result of the production of charcoal include South Africa, Central America, South America, and Asia. Government regulations and initiatives to track excessive charcoal production will likely impose constraints on the global charcoal market expansion.
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What does this Report Deliver?
• Market Estimation for 20+ Countries
• Charcoal Market demand by Region and Country
• Customization on Segments, Regions, and Company Profiles
• 100+ tables, 150+ Figures
• Global, Regional and Country specific Charcoal Market Trends
• Comprehensive Mapping of Charcoal Industry Parameters
• Attractive Investment Proposition in the Global Charcoal Industry
• Competitive Strategies Adopted by Charcoal Market Key Players
• Drivers, Restraints, Opportunities, Challenges and the impact on the Charcoal Market Size
• Market growth rate till 2028
• Regulatory scenario, regional dynamics, and Charcoal market insights of leading countries in each region
• In depth Market insights by Region and Country
• Market Segmentation Trend Analysis, Opportunities and Growth
• Porter’s five force analysis to know the market’s condition
• Pricing Analysis and Charcoal Market Sales
• Parent market analysis
• Product portfolio benchmarking
SkyQuest has segmented the Global Charcoal Market based on Product Type, Application and Region:
• Global Charcoal Market by Product Type (Revenue, USD Billion, 2022 2028) o Fluoride
o Lump Charcoal
Charcoal Briquettes
Japanese Charcoal
Sugar Charcoal
o Others
• Global Charcoal Market by Application (Revenue, USD Billion, 2022 2028)
Outdoor Activities
o Restaurant Business
Metallurgical Fuel
Industrial Fuel
Filtration
Others
• Global Charcoal Market By Region (Revenue, USD Billion, 2022 2028)
North America
Canada
o Europe
Germany
France UK Italy Spain
Rest of Europe
o Asia Pacific China India Japan
Rest of Asia Pacific
Central & South America
Brazil
Rest of CSA
o Middle East & Africa GCC Countries South Africa
Rest of MEA
Key Players in the Global Charcoal Market
• Carbon Roots International (US)
• Timber Charcoal Company LLC (US)
• Parker Charcoal Company (US)
• Kingsford Products Company LLC (US)
• The Dorset Charcoal Company (UK)
• Oxford Charcoal Company (UK)
• Royal Oak Enterprises LLC (US)
• Blackwood Charcoal (Indonesia)
• Matsuri International (Thailand)
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