The charcoal market report contains numerous information about factors, such as market restraints, drivers, and opportunities. In addition, the report provides an in-depth review of industry developments and trends in the market that are influencing the charcoal market growth. Additionally, the database analyzes and estimates the charcoal market both globally and regionally.
The charcoal market is forecast to grow at a compound annual growth rate (CAGR) of more than 2% during the forecast period from 2021-2030.
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Incomplete combustion of wood, animal products, or plant components results in charcoal, a lightweight black carbon residue. In the activation process, the charcoal is heated and then exposed to steam or chemically treated to remove substances adherent to it and break it down into finer particles. The primary use of the product is for outdoor cooking. It is also widely used in manufacturing applications.
Factors Affecting
As a result of growing demand in recreational cooking and metal production, construction and healthcare, industrial filter, and pharmaceutical applications, the global charcoal market will grow significantly over the projected period.
The use of charcoal as a fuel substitute for coal in the recreation market is becoming increasingly popular. The popularity of barbeque cooking in restaurants will also help to drive the demand for charcoal.
The combustion of charcoal in metal production can reach 370°C with relatively low emissions of carbon dioxide. Due to its high heating capacity, charcoal works as a metallurgical fuel in steel and iron. Due to the growing building and construction industries in emerging economies such as China and India, steel and iron demand will continue to grow, boosting the charcoal market.
There has been an increase in deforestation due to the rising demand for charcoal. The growth of the charcoal market is likely to be slowed down by growing government regulations regarding deforestation and consumer awareness about eco-friendly environments.
With consumers becoming more aware of water waste, growing demand for potable water, and affordable charcoal, market players will likely benefit from profitable opportunities.
Impact Analysis of COVID-19
A negative impact of Covid-19 exists on the charcoal market. Globally, governments took several necessary measures to combat the spread of disease, resulting in factory shutdowns and border closures, shutting down the supply chain. Charcoal is used extensively in industrial processes and the hospitality industry for food preparation. The COVID-19 has a negative effect on all of these industries, thus affecting the demand for charcoal. After the impact of COVID-19 on many dimensions, charcoal companies are also focusing on sustainability and long-term growth. After COVID-19, coal and chemical industries take on a vital role in the economic regrowth of nations, so companies involved in this industry should see plenty of opportunities in the coming years.
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Regional Overview
The Middle East & Africa, and South America dominate the market in terms of revenue share. These regions are experiencing a rise in charcoal consumption due to environmental concerns, an aging population, and urbanization.
Leading Players
The leading prominent players profiled in the global charcoal market are:
Kingsford Products Company LLC (United States)
Duraflame Inc. (United States)
Royal Oak Enterprises LLC (United States)
E&C Charcoal (Pty) Ltd. (South Africa)
Namchar (Pty) Ltd. (South Africa)
Timber Charcoal Company LLC (United States)
BOM DE BRASA (South America)
Fogo Charcoal Company (South America)
Gryfskand Sp. z o.o (Europe)
Aperam BioEnergia Ltda (South America)
Other Prominent Players
Scope of the Report
The global charcoal market segmentation focuses on Type, Application, and Region.
Segmentation based on Type
Lump Charcoal
Charcoal Briquettes
Japanese Charcoal
Sugar Charcoal.
Segmentation based on Application
Metallurgical Fuel
Barbecue
Industrial
Filtration
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Key questions answered in the global chemical market report are:
· How does a global company acquire markets?
· What are its core strategies and policies?
· What factors will influence the chemical market over the forecast period?
· What are the factors driving and restraining the market for chemicals?
· What are the leading competitors in the global market?
· Which region is growing at a higher pace in the global market?
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