What is the global market size of Charcoal Briquette Market?

Charcoal Briquette Market size was valued at USD 0.9 billion in 2021, and it is poised to grow from USD 0.96 and expected to attain a value of USD 1.56 billion by 2030, at a CAGR of 6.3% over the forecast period (2023-2030).

Charcoal Briquette Market Size, Share, Growth Analysis, By Product(Lump Charcoal, Japanese Charcoal, Sugar Charcoal, Others), By Application(Metallurgical Industry, BBQ, Others), By Type(Wood Type, Others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG10G2018 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 90 | Figures: 67

Charcoal Briquette Market News

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.

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US Charcoal Briquette Market is poised to grow at a sustainable CAGR for the next forecast year.

The nature of the global market is fragmented. To support different industries, these important players are funding R&D projects. To preserve their market supremacy, they are putting into practise a variety of growth tactics, such as providing extensive product portfolios, fortifying their distribution networks, expansions, and acquisitions. 'ITO Global 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)'

The characteristics of coal briquettes can be changed by various binders. Coal briquettes significantly improve thermal efficiency and reduce coal-fired pollutant emissions in industrial boilers and kilns as compared to burning raw coal.

Traditional stoves used in homes for cooking and heating are frequently inefficient and produce a lot of indoor air pollution, which can be harmful to human health. In an effort to increase cooking and heating efficiency and lessen indoor pollution in homes, improved cook stoves have been introduced in several nations. Additionally, it can be safely and cleanly burned provided it is properly prepared and utilized in efficient equipment. Convex in design, improved cook stoves provide insulation on all sides. Additionally, improved cook stoves have recently been developed, which can lower GHG emissions by increasing fuel efficiency and lowering the need for charcoal to produce the same amount of cooking energy.

North America held the largest share of the global 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 global warming.

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Charcoal Briquette Market Size, Share, Growth Analysis, By Product(Lump Charcoal, Japanese Charcoal, Sugar Charcoal, Others), By Application(Metallurgical Industry, BBQ, Others), By Type(Wood Type, Others), By Region - Industry Forecast 2024-2031

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