A recent report by Future Market Insights (FMI) states that global sales of wood charcoal will value around US$ 20,536.1 Mn in 2021. Substantial demand will come from residential sector, especially in developing regions of Asia Pacific, Africa and South America wherein over 2 billion people rely on wood energy for cooking and heating purposes. The study further reveals that cooking and heating in private households make up for about a third of worldwide renewable energy consumption While emergence of alternative energy sources is hampering market growth, demand from chemical industry for production of chemicals - carbon disulfide, sodium cyanide, and carbon tetrachloride – is reflecting remunerative opportunities. Get a Sample Copy of the Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-6315 Key Highlights
Charcoal lumps continue to generate greater revenue through 2030 Fuel feedstock to remain primary application area of wood charcoal Adoption of wood charcoal in residential sector to remain over decade ahead Hardwood to account for leading revenue share, tentative to 80% Markets in Latin America and South Asia to offer potential growth avenues
“Food prepared from barbeque charcoal (BBQ) grills offer various benefits such as less oil usage, nutritionally rich food, and low fat. As consumers are following stay-at-home orders, at-home consumption is surging and consumers are showing greater interest for indoor grilling. The trend is well-established in developed regions, in particular,” says analyst at FMI. COVID-19 Impact on Wood Charcoal Market While the global wood charcoal market has been facing significant brunt of the COVID-19 pandemic in Q1 and Q2 of 2020 due to trade restrictions, lockdowns, and travels bans, resulting in subsequent drop in demand from several end-use industries such as chemicals, metal and metallurgy, and water treatment plants. That being said, gradual easing of pandemic-induced restrictions across continents are setting high hopes for wood charcoal manufacturers as these end-use industries are getting back on track. While the global chemical production declined in every category through Q1 2020, production eventually showed positive signs during Q2 2020, despite negative growth in some categories. Moving ahead, as the COVID-19 pandemic continues to rage across the globe, governments and organizations are laying greater emphasis on treating wastewater as essential public service to minimize potential impacts on health and surroundings. This, in turn, will further accent the need for wood charcoal wastewater treatment plants. Wood Charcoal Market – Competitive Intelligence