Press release
White Coal Market Growth Analysis: Trends, Size, Share, And Outlook Report 2024-2033
White Coal Market
The white coal market size is expected to see strong growth in the next few years. It will grow to $4.30 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to renewable energy policies, international trade and agreements, climate change mitigation efforts, population growth and urbanization. Major trends in the forecast period include reduction in energy consumption, efficient cylindrical bio-coal briquettes, cybersecurity concerns.
Market Overview -
White coal is a type of solid fuel produced by converting agricultural waste or biomass into a high-energy density fuel source. It is produced by compiling biomass materials such as agricultural residues, wood chips, sawdust, and other organic waste into dense, compacted blocks or briquettes. Its production and use contribute to reducing carbon emissions and mitigating the environmental impacts associated with conventional coal usage.
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Renewable Energy's Ascendance Fuels Growth In The White Coal Market
The growing demand for renewable energy is expected to propel the growth of the white coal market going forward. Renewable energy is derived from naturally replenishing resources that are virtually inexhaustible on human timescales. It arises because of climate concerns, increased awareness about environmental impacts, and favorable economic conditions. White coal, derived from renewable biomass materials, offers a greener alternative to traditional coal. For instance, in October 2023, according to reports published by the European Environment Agency, a Denmark-based government organization, the share of renewable energy in the European Union reached 22.5% in 2022, representing an increase of 0.6% compared to 2021. Renewable consumption saw a modest growth of 1.4 million metric tons of oil equivalent (Mtoe) between 2021 and 2022. Therefore, the growing demand for renewable energy is driving the growth of the white coal market.
Competitive Landscape -
Major companies operating in the white coal market are KKR Bio Fuels, Nexgen Energia, Vow ASA, CSC Bio-Coal Sdn Bhd, Vega Biofuels Inc, Balaji Agro Coal lndustries, NextCoal International Inc, VIGIDAS PACK, Global Bio-Coal Energy Inc, TorrCoal, Airex Energy Inc, SSGE Bio-Energy Company Ltd, Hind Bio Coal, BMK Woods LLC, JK Bio Energy, Ronak Agrotech Engineering, Radhe Engineering Co, Lehra Fuel Tech Pvt Ltd, Birquetting Machine Co, Green Fuel India, Eco Stan Ltd., Guru Nanak Agro Industries Inc., Biomass Briquette Systems LLC, Drax Group plc, White Energy Inc
Innovative Supply-Side Bio-Coal Solutions Shaping The Future Of The White Coal Market
Major companies operating in the white coal market are developing innovative plans for supply-side bio-coal solutions to expand their production capacities, improve production processes, and introduce new bio-coal products to gain a competitive edge in the market. For instance, in November 2022, SSGE Bio-Energy, a Hong Kong-based energy supplier, announced plans to supply bio-coal as an alternative energy source to power plants and households. This bio-coal, made from waste such as rice husks or peanut shells, has a similar energy value as coal but a smaller carbon footprint, reducing carbon dioxide emissions by 2.5 metric tons per ton of bio-coal used. Additionally, this process ensures that bio-coal combustion does not release new carbon dioxide into the atmosphere, making it an environmentally friendly fuel source.
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Key Segments -
The white coal market covered in this report is segmented -
1) By Type: Pyrolysis, Hydrothermal Carbonization, Other Types
2) By Mining Technology: Surface Mining, Underground Mining
3) By Application: Ceramic, Chemical, Food And Beverage, Textile, Power, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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