Press release
White Coal Global Market Report 2024 - By Growth, Size, Trends, Demand, Forecast To 2033
White Coal Market
White Coal Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $4.30 Bn In 2028 At A CAGR Of 8.5% :
The white coal market size has grown strongly in recent years. It will grow from $2.87 billion in 2023 to $3.10 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to rural development initiatives, international agreements, volatility in fossil fuel prices, carbon pricing and emission regulations.
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.
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White Coal Market Major 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 Driver - 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.
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Prominent Trend - 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.
White Coal Market Players
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
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Largest And Fastest Growing Region In The Market
North America was the largest region in the white coal market in 2023. The regions covered in the white coal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. White Coal Market Report Structure
3. White Coal Market Trends And Strategies
4. White Coal Market - Macro Economic Scenario
5. White Coal Market Size And Growth
…..
27. White Coal Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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