oal Briquettes Market is expected to grow with a CAGR of around 5-6% during the forecast period 2031

According to latest research conducted on Coal briquettes market, it is expected to grow with a CAGR of around 5-6% during the forecast period 2021-2031. The market is being driven by its applications in industries that require a constant temperature and high thermal efficiency (Steel plants). However, the market's growth is being hampered by unfavourable conditions caused by the COVID-19 outbreak.

What is Driving Demand for Coal Briquettes?
Coal briquettes are blocks which are made by the compression of the different components such as saw dust, charcoal, coal dust, wood chips, paper or peat by adding some kind of additives or binders to increase its physiochemical properties. These are majorly used as a fuel and kindling to start the fire.

These briquettes usually have longer burn as compare to charcoal. Due to its property of long run burning with cooler heat makes it more easy to use. They are helpful in maintain the temperature.

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The key driving factor for this market is its applications which are used in manufacturing industries, such as steel industry where high temperature and heat is required. As they have longer burn capacity they help in maintain the temperature and emits less harmful gases as compare to conventional options.

They are also used in ceramics industry. Apart from the manufacturing industries, nowadays briquettes are in limelight for their use in barbequing of food. Their longer burn property make them ideal for the use of low & slow cooking.

The trends and choices in food are consistently changing and the barbequed food is one of the trends. These are extensively used in the food parks, restaurants and hotels for the barbeque purpose.
Demand & Role of Coal Briquettes
Coal Briquettes are blended with additives and binders which also decides its properties and its uses. Different binders can reform its properties. When compared to burning raw coal, coal briquettes greatly boost thermal efficiency and minimize coal-fired pollutant emissions in industrial boilers and kilns.

This is one of the major driving factor in propelling the demand for this market. The use of additives in coal briquettes has opened up a whole new universe for the logical use of low-quality coal and coal with a high sulphur content.

When briquettes are blended with slaked lime, they are helpful in decomposing the CO2 gas, hence the application slightly changes with the different binders.

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The major demand comes from the industrial sector while its usage in providing variety of food also helps in the boosting the market growth. As these both industries will continue to grow hence it will impact the market positively.

Asia Pacific Demand Market Outlook for Coal Briquettes
Asia-Pacific is expected to dominate the market for coal briquettes during the forecast period. Owing to the rising demand from food as well as industrial sector. They are widely used for open fires and multi-fuel stoves. India, China are top consumers of these briquettes owing to due to large population.

Conventional methods of cooking is quite popular in India as it's a cheap source for domestic requirements. People find it much more affordable to use and it is easily available too. Moreover, the increasing spending on commercial foodservice sector is also driving consumption of this product as urbanization increased in the region.
Europe Demand Outlook for Coal Briquettes
Europe is expected to play significant role in the driving the demand of the market. Food and ceramics industry are the key market drivers for this region. The lifestyle of people, their preferences and standard of living all are the considerable factors for the growth of the market. These industries are expected to grow with the time which will drive the market growth.

However the market faces regulatory pressure in the region, as many countries including Germany and UK and contemplating tightening the rules owing to significant opaqueness in the import source and trade of these type of charcoal products, particularly from illegal deforestation activities in other countries.

Who are the Key Manufacturers and Suppliers of Coal Briquettes?
The Coal Briquettes market is consolidated in nature, with the top players accounting for a major share of the market. Some of the key companies in the market include

ITO Global Trading Company
Snesmi Techno Pvt Ltd
Sun Company
Coal Hut
Milazzo Industries
Milward alloys Inc.
Halogen supply Co. Inc.
Bepex international llc
Dauber co. etc.

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Manufacturers are focusing on increasing transparency pertaining to the sourcing of wood based raw materials that are used for producing these charcoals, in order to meet new regulatory norms and build confidence in consumers.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Key Segments
By Type (Appearance)P:
Pillow Shaped
Hexagonal Shaped
Round Shaped
Square Shaped
By Type (Composition):
Wood Charcoal
Coal Dust
Peat & Paper
Saw Dust
Wood chips
By Application:
Industrial
Food Preparation
By Region:
North America
U.S.
Canada
Latin America
Mexico
Brazil
Rest of Latin America
Europe
Germany
Italy
France
U.K
Spain
BENELUX
Russia
Rest of Europe
South Asia
India
ASEAN
Australia & New Zealand
East Asia
China
Japan
South Korea
Middle East and Africa
GCC Countries
Turkey
S. Africa
Northern Africa
Rest of MEA

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.