Press Release

Coal Briquettes Market to Grow with a CAGR of 5.19% through 2028

Increasing demand for energy and growing infrastructure investments are likely to drive the market in the forecast period.

 

According to TechSci Research report, “Coal Briquettes Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Coal Briquettes Market stood at USD 3.08 billion in 2022 and is anticipated to grow with a CAGR of 5.19% in the forecast period.

One of the primary drivers of the global Coal Briquettes Market is its status as a cost-effective energy source. Coal briquettes offer an efficient means of utilizing coal for energy generation, industrial processes, and heating applications. The briquetting process compacts and densifies coal, resulting in a product that has a higher energy content and burns more efficiently than loose coal. This enhanced energy density translates to cost savings for industries and utilities. Industries often seek cost-effective energy solutions to maintain competitiveness and manage operational expenses. Coal briquettes provide a viable option in regions where coal is abundant, as they offer a more efficient energy source compared to traditional loose coal. The lower cost of coal briquettes can be particularly advantageous for industries with high energy demands, such as steel manufacturing, cement production, and power generation. Moreover, coal briquettes' cost-effectiveness can also benefit residential consumers seeking affordable heating options. As a result, the market witnesses sustained demand driven by the economic advantages of using coal briquettes as a reliable and budget-friendly energy source.

Energy security and the utilization of domestic coal resources represent another significant driver of the global Coal Briquettes Market. Many nations prioritize the use of indigenous energy sources to reduce dependence on imported fuels and ensure a stable energy supply. Coal, as a widely available and abundant resource in several regions, plays a crucial role in achieving energy security objectives. Governments and utilities often adopt policies that support domestic coal production and briquetting operations. These policies may include subsidies for coal mining, infrastructure development to facilitate coal transport, and investments in coal processing technologies. By leveraging domestic coal reserves, nations enhance their energy security, reduce vulnerability to energy supply disruptions, and support local economies.

The advantage of using coal briquettes in this context lies in their improved handling properties, which simplify storage and transportation. This reduces the logistical challenges associated with coal and contributes to the reliability of the energy supply chain. Consequently, the demand for coal briquettes remains robust as nations continue to prioritize energy security and the responsible utilization of their coal resources.         

 

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Coal Briquettes Market.” 

 

The Global Coal Briquettes Market is segmented into component, application and region.

Based on component, The Wood Charcoal segment had the largest market share in 2022 & expected to maintain it in the forecast period. Wood charcoal is derived from biomass, primarily from wood sources such as timber residues, sawdust, wood chips, and wood shavings. These materials are abundantly available in many regions, making wood charcoal a renewable and sustainable source of energy. This availability ensures a consistent supply of raw materials for briquette production. Wood charcoal briquettes are recognized for their relatively cleaner-burning properties compared to other coal sources. They produce fewer impurities and emissions during combustion, resulting in reduced environmental impact. This aligns with global efforts to reduce carbon emissions and improve air quality. Wood charcoal briquettes find applications in a wide range of industries and sectors, including residential heating, cooking, industrial processes, and outdoor grilling. Their versatility makes them a preferred choice for various energy needs, from household heating to industrial applications. Many consumers prefer wood charcoal briquettes for their familiar and natural aroma when used for cooking or grilling. This preference drives demand for wood charcoal products, especially in the residential and foodservice sectors. As governments and consumers become increasingly conscious of environmental sustainability, wood charcoal's renewable and lower-emission characteristics make it an attractive option. Businesses and households often opt for wood charcoal briquettes to align with their sustainability goals and reduce their carbon footprint. The briquetting technology for wood charcoal is well-developed and widely accessible. This technology enables the efficient production of uniform and high-quality briquettes, further contributing to wood charcoal's dominance in the market.

Based on application,  The Metallurgy segment had the largest market share in 2022 and is projected to experience rapid growth during the forecast period. Metallurgy, particularly steel production, is a major consumer of coal briquettes. The steel industry relies on coal briquettes as a source of carbon, which is essential in the reduction of iron ore during the steelmaking process. As steel remains a crucial material for construction, automotive manufacturing, infrastructure development, and other industries, the demand for coal briquettes in metallurgy remains high. Metallurgical processes require energy-intensive operations, and coal briquettes provide a concentrated source of energy. The high energy content of coal briquettes makes them suitable for meeting the intense heat and energy requirements of metallurgical applications. Coal briquettes are known for their consistent quality and composition, which is critical in metallurgy. The uniformity of briquettes ensures predictable and controlled combustion and carbonization processes, essential for achieving precise metallurgical outcomes. Metallurgical operations often involve large-scale energy consumption. Coal briquettes offer economic advantages by optimizing energy efficiency, reducing wastage, and minimizing production costs. Their cost-effectiveness is a significant factor driving their dominance in metallurgical applications. Coal briquettes are versatile and can be used in various metallurgical processes beyond steelmaking, including non-ferrous metal smelting, casting, and heat treatment. This versatility extends their applicability and relevance across different segments of the metallurgical industry. The global demand for steel remains robust, driven by construction, infrastructure development, automotive manufacturing, and other industrial sectors. As long as steel continues to be a fundamental material in these applications, the demand for coal briquettes in metallurgy will remain strong.

 

Major companies operating in the Global Coal Briquettes Market are:

  • Lanxess AG
  • Snesmi Techno Pvt. Ltd.
  • Sun Company
  • Coal Hut
  • Milazzo Industries Inc
  • Milward Alloys Inc.
  • Halogen Supply Co. Inc.
  • Bepex International LLC
  • Dauber Co.

 

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“The Global Coal Briquettes market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. The global demand for energy is increasing due to population growth and economic development. This is leading to an increase in the demand for coal briquettes, as they are a versatile and efficient fuel. The cost of traditional fuels, such as oil and gas, is rising. This is making coal briquettes a more attractive option for consumers and businesses. Governments around the world are providing financial and regulatory support to promote the development and use of renewable energy sources. This is leading to an increase in the demand for coal briquettes, as they are a renewable and sustainable fuel. Therefore, the market of Coal Briquettes is expected to boost in the upcoming years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Coal Briquettes Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028

Segmented By Composition (Wood Charcoal, Coat Dust, Peat & Paper, Saw Dust, Wood Chips), By Application (Metallurgy, Food Processing), By Region, By Competition”, has evaluated the future growth potential of Global Coal Briquettes Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Coal Briquettes Market.

 

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