An extensive study of the product application and services conducted by subject matter experts assessing the Charcoal Market will help product owners to make a wise decision.
New York, NY -- (SBWIRE) -- 02/22/2021 -- The global charcoal market is expected to reach USD 6.80 Billion by 2027, according to a new report by Reports and Data. Charcoal finds extensive usage as a fuel in metallurgical smelting applications. The charcoal possesses a fixed carbon content, which lies in the range of around 50.0% to about 95.0%. The fixed carbon content of charcoal is crucial in metallurgy processes, as it is accountable for the reduction of iron oxides of the iron ore for the production of the metal. Brazil is the only nation across the globe that deploys charcoal on a large scale in blast furnaces used in the production of steel, as a heat source, along with providing carbon monoxide for reduction of iron ore.
Charcoal finds widespread usage in the home and outdoor recreational cooking, which, in turn, is playing a significant role in boosting the demand for charcoal. It is used in several hotels and restaurants as part of their marketing strategy to lure customers. Surging demand for wood charcoal has garnered significant traction in the market, allowing existing market players to plan strategies to expand their market share, as well as attracting new entrants into the market.
However, the adverse impact of the production of charcoal on the environment through the emission of greenhouse gases may hamper the growth of the market in the upcoming years.
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Key participants include
- Royal Oak Enterprises LLC
- Kingsford Product Company
- Timber Charcoal Company LLC
- Duraflame Inc.
- Sagar Charcoal Depot
- NAMCHAR (Pty) Limited
- Mesjaya Abadi Sdn Bhd
- Pyrocal Pty Ltd., and Direct Charcoal Ltd., among others.
For the purpose of this report, Reports and Data have segmented the global charcoal market on the basis of type, distribution channel, application, and region:
Type Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
- Lump Charcoal
- Charcoal Briquettes
- Japanese Charcoal
- Sugar Charcoal
Distribution Channel Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
Application Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
- Metallurgical Fuel
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Further key findings from the report suggest
- By type, Lump charcoal held a significant market share in 2019. Lump Charcoal offers advantages such as it has easier temperature adjustment, contains no additives, lights quickly, produces little amount of ash, and burns hotter.
- By distribution channel, the offline distribution channel contributed to the largest market share in 2019. The charcoal industry is very offline-intensive. Offline channel is the most preferred channel for distribution as it includes the opportunity for customers to create personal connections with business, which is beneficial in building loyalty. However, the offline channel necessitates the requirement of substantial investment of time by the buyer and high selling costs.
- By application, filtration is likely to witness the fastest growth rate of 2.8% in the forecast period. The reason behind the high growth of the filtration application is that charcoal is quite natural and effective at removing several toxic items from the water, including chlorine and volatile organic compounds (VOCs) without disturbing the salt and mineral content of water and the usage of any chemicals.
- The market in the Middle East & Africa is likely to grow at the fastest rate of 2.7% in the forecast period, owing to rapid urbanization and surging usage of charcoal in the cooking application in the region.
- In February 2020, Kingsford, Product Company, a leading market player, made an announcement of its formal collaboration with OBR (Operation BBQ Relief), which offers meals to emergency personnel at times of natural calamities and other disasters, along with displaced residents.
Objectives of the Report:
- Study of the global Charcoal market size by key regions, types, and applications with reference to historical data (2017-2018) and forecast (2020-2027)
- Industrial structure analysis of the Charcoal market by identification of various sub-segments
- Extensive analysis of key market players along with their SWOT analysis
- Competitive analysis
- Analysis of Charcoal market based on growth trends, outlook, and contribution to the total growth of the market
- Analysis of drivers, constraints, opportunities, challenges, and risks in the global Charcoal market
- Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Charcoal Segmentation & Impact Analysis
4.1. Charcoal Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
220.127.116.11. Increasing demand in metallurgical application
18.104.22.168. Growing demand in water filtration
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