Global Charcoal Briquette Market to reach USD 2.3 billion by 2028

According to the latest research by SkyQuest Technology, the Global Charcoal Briquette Market was valued at USD 0.9 billion in 2021, and it is expected to reach USD 2.3 billion by 2028, with a CAGR of 6.3% during the forecast period of 2022-2028. The research provides up-to-date Charcoal Briquette market analysis of the current market landscape, latest trends, drivers, and overall market environment.

Briquettes of charcoal make the finest alternative fuel for fighting global warming. By providing funds for rural areas, tax income, and jobs, the manufacturing and trade of charcoal briquettes strengthens the national economies of developing countries. Many African and Asian countries planned to invest in increasing charcoal briquette production in order to meet the world's growing energy demand. The sector is anticipated to grow as a result of the paradigm shift toward environmentally friendly energy sources.

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Serious repercussions have followed from the COVID-19 pandemic's widespread effects across several economies. Several industries are experiencing losses never before witnessed as a result of the global lockdown that has forced all enterprises to shut down totally. The devastated economy is being revived by the government and business, and it is anticipated that this will happen in the next few years.

Read Market Research Report, "Global Charcoal Briquette Market by Product (Lump Charcoal, Japanese Charcoal, Sugar Charcoal, Others), Application (Metallurgical Industry, BBQ, Other), and Region -Forecast and Analysis 2022-2028" by SkyQuest.
Lump charcoal with a high calorific value now dominates the market. Compared to other types of charcoal, it burns faster and at a temperature of around 12000F higher than briquettes. Also, less ash is produced using lump charcoal. Briquettes burn between 800 and 10,000 °F, depending on the basic ingredients utilized. Dehumidifiers, which keep the root water fresh and remove moisture and odor from closets, are applications for charcoal briquettes. The demand for charcoal is expected to rise as a result of all these uses.

An increase in the price of traditional fuel sources is the root cause of North America's moderate growth. Charcoal briquettes are reasonably priced when compared to other traditional fuel sources. Because of the increased demand from the residential sector, it is predicted that the industry would grow in size. Europe is required by law to employ clean energy to cut GHG emissions. The strict pollution controls and growing concern about global warming are projected to be the main forces behind the development of clean energy sources.

The main factor causing North America's sluggish growth is an increase in the price of conventional fuel sources. In comparison to other conventional fuels, charcoal briquettes are inexpensive. It is anticipated that the industry would expand in size as a result of rising residential demand. By legislation, Europe must use clean energy to reduce GHG emissions. According to projections, the key driving reasons behind the growth of clean energy sources will be the severe pollution laws and growing concern about global warming.

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Report Findings
● Drivers- Use of coal briquettes by changing its characteristics with the help of a blend of binders is widening its application area and thereby increasing market growth.
● Restraint- The best alternative to conventional fuel sources of energy is charcoal briquettes because they do not harm the environment. However, the market's potential may be limited by consumers' lack of awareness.

What does this Report Deliver?
● Market Estimation for 20+ Countries
● Charcoal Briquette Market demand by Region, Sub-Region, and Country
● Customization on Segments, Regions, and Company Profiles
● 100+ tables, 150+ Figures
● Global, Regional and Country specific Charcoal Briquette Market Trends
● Comprehensive Mapping of Charcoal Briquette Industry Parameters
● Attractive Investment Proposition in the Global Charcoal Briquette Industry
● Competitive Strategies Adopted by Charcoal Briquette Market Key Players
● Drivers, Restraints, Opportunities, Challenges and the impact on the Charcoal Briquette Market Size
● Market growth rate till 2028
● Regulatory scenario, regional dynamics, and Charcoal Briquette 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 Briquette Market Sales
● Parent market analysis
● Product portfolio benchmarking

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SkyQuest has segmented the Global Charcoal Briquette Market based on Product, Application, and Region:
● Global Charcoal Briquette by Product (Revenue, US$ billion, 2021 - 2028)
○ Lump Charcoal
○ Japanese Charcoal
○ Sugar Charcoal
○ Others
● Global Charcoal Briquette by Application (Revenue, US$ billion, 2021 - 2028)
○ Metallurgical Industry
○ BBQ
○ Others
● Global Charcoal Briquette by Region (Revenue, US$ billion, 2021 - 2028)
○ North America
■ US
■ Canada
○ Europe
■ Germany
■ France
■ UK
■ Italy
■ Spain
■ Rest of Europe
○ Asia Pacific
■ China
■ India
■ Japan
■ Rest of Asia Pacific
○ Central & South America
■ Brazil
■ Rest of CSA
○ Middle East & Africa
■ GCC Countries
■ South Africa
■ Rest of MEA

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Key Players in the Global Charcoal Briquette Market
● 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)

About Us-
SkyQuest Technology Group is a Global Market Intelligence, Innovation Management & Commercialization organization that connects innovation to new markets, networks & collaborators for achieving Sustainable Development Goals.

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This release was published on openPR.