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Rising Use of Charcoal for Recreational Cooking Driving Charcoal Market

03-30-2020 08:52 AM CET | Energy & Environment

Press release from: P&S Intelligence

Rising Use of Charcoal for Recreational Cooking Driving

In 2018, the charcoal market generated $5,882.8 million and is predicted to reach $6,566.5 million in 2024, advancing at a 1.9% CAGR during the forecast period (2019-2024). The market is growing due to the rising demand for charcoal in water treatment plants and rising usage of charcoal for recreational cooking. A porous black solid obtained as a residue on heating wood or any other organic material in the absence of oxygen is called charcoal. It is the amorphous form of carbon and has a higher calorific value and lower ignition temperature than wood.

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In terms of type, the charcoal market is categorized into charcoal briquettes, sugar charcoal, lump charcoal, Japanese charcoal, and others (which include several forms of activated charcoal). Out of these, lump charcoal dominated the market during the historical period and is further expected to account for the largest share of the market during the forecast period, both in terms of value and volume. This is because lump charcoal produces less ash, achieves higher temperature, and burns more quickly as compared to other charcoal types.

Among all the regions, namely North America, Asia-Pacific (APAC), Middle East and Africa (MEA), Europe, and Latin America (LATAM), the largest share of the charcoal market was held by the LATAM region during the historical period, both in terms of value and volume. The region is further projected to dominate the market during the forecast period as well due to the rising adoption of charcoal in the energy industry, including power generation and metallurgy. The MEA region is predicted to grow at the fastest pace during the forecast period.

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Competitive Landscape of Global Charcoal Market

The charcoal market is highly fragmented, with a large number of players operating globally. Some of the leading players in the market are Kingsford Product Company LLC, Timber Charcoal Company LLC, Bricapar S.A., Duraflame Inc., Royal Oak Enterprises LLC, Maurobera SA, Gryfskand Sp. z o.o, and Parker Charcoal Company.

Charcoal Market Segmentation

Market Segmentation by Type

Lump Charcoal
Charcoal briquettes
Japanese Charcoal
Sugar Charcoal
Others (Various Forms of Activated Charcoal)
Market Segmentation by Application

Metallurgical fuel
Others (Medical, Pharmaceutical, Horticulture, Automotive, and Arts)

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About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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