Briquettes Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Saw Dust Briquettes, Agro Waste Briquettes, Wood Briquettes & Others), By Application (Power Generation, Thermal Energy & Others), By Region and Competition

Market Overview

Global Briquettes Market has valued at USD 774.61 Million in 2022 and is anticipated to project impressive growth in the forecast period with a CAGR of 7.42% through 2028. Briquettes are compacted blocks of coal dust or other combustible materials used for fuel purposes. They are typically made from waste materials such as sawdust, agricultural residues or peat and are an excellent substitute for charcoal or coal. Briquettes burn for longer and provide more heat and consistent temperature, making them an eco-friendly and cost-effective solution for heating and cooking.

The briquette market is a sector encompassing the production, distribution, and sale of briquettes. This market has seen significant growth due to the increasing demand for renewable and cost-effective energy sources. Factors such as rising awareness towards environmental conservation, governmental initiatives promoting the use of biofuels, and the easy availability of raw materials all contribute to this growth. Furthermore, the versatility of briquettes, being used for a myriad of applications ranging from residential heating to industrial processes, adds to their market appeal. The market is geographically diverse, with prominent players spread across various regions, each offering unique strengths in terms of briquette raw materials and production techniques.

Key Market Drivers

Increasing Demand for Renewable Sources of Energy

Increasing global demand for renewable energy sources is expected to fuel the growth of the briquette market. Briquettes, a sustainable energy solution, are made from agricultural residues, organic materials, or recovered industrial waste. Their use reduces the dependence on fossil fuels, thus aligning with the global shift towards renewable energy. Beyond being carbon-neutral, briquettes offer a higher energy efficiency and are considerably less polluting, producing fewer emissions when burned. Moreover, the production of briquettes contributes to waste management, as it utilises materials that would otherwise be discarded. As the world becomes more environmentally conscious, industries, governments, and households are actively seeking out cleaner, sustainable methods for power generation. This trend is likely to boost the demand for briquettes significantly. In regions lacking access to other renewable energy sources such as wind or solar, briquettes present a feasible and affordable alternative. In conclusion, the pressing need for renewable energy, coupled with environmental consciousness and waste management concerns, is set to drive the global demand for briquettes upwards.

Technological Advancements in Briquette Manufacturing

Technological advancements in briquette manufacturing are poised to catalyze a surge in the global demand for briquettes. As an energy-efficient and sustainable alternative to traditional fuels, briquettes are attracting significant attention worldwide. Cutting-edge technology in briquette production not only enhances the quality and energy content of the briquettes, but also increases their production efficiency, thereby making them more economically viable. Innovations such as the use of automated briquette machines, which streamline the production process, and the development of new binding materials, improving briquette density and reducing ash content, are expected to fuel this demand. Furthermore, technological breakthroughs in biomass preprocessing, like torrefaction, have been instrumental in augmenting the energy content of briquettes. This, coupled with the global push for switching to cleaner, renewable energy sources to mitigate climate change, signifies a promising future for the briquette industry. Therefore, with ongoing technological progress in briquette manufacturing, the demand for this eco-friendly fuel is anticipated to rise globally in the foreseeable future.

Rising Cost of Conventional Fuels

As the cost of conventional fuels like coal, oil, and natural gas continues to rise, the demand for more affordable and environmentally friendly alternatives is expected to increase worldwide. Among these alternatives, briquettes are gaining significant attention. Briquettes, compact blocks of organic waste material, are not only cost-effective but also produce lower carbon emissions when burned, making them an attractive option in the face of increasing fuel prices. Moreover, the production of briquettes fosters waste recycling and leads to a sustainable and circular economy. For instance, agricultural residues otherwise left to decay or burned inefficiently can be repurposed into energy-dense briquettes. Rising fuel costs also incentivize businesses to seek cheaper, sustainable energy sources, leading to the likely expansion of the briquette market. Countries with abundant biomass resources and escalating energy demands, particularly in developing regions, are uniquely poised to leverage this opportunity. Thus, the rise in conventional fuel prices is expected to be a significant driver for global demand of briquettes in the coming years.

Efficiency in Transportation & Storage of Briquettes

The global demand for briquettes is anticipated to rise significantly due to their efficiency in transportation and storage. As a compact and uniform biofuel, briquettes are easy to stack, which reduces storage space requirement and optimizes transport logistics, making them a more cost-effective and environmentally friendly alternative to traditional fuels. Their high energy density, combined with their low moisture content, also contributes to their efficiency, as it ensures they burn longer and more consistently than other forms of fuel. Moreover, their uniform shape and size allow for automated handling in larger facilities, enabling potential savings in labor costs. When compared to loose biomass or other fuels, the spillage and waste associated with briquettes during storage and transportation are significantly less, improving overall efficiency. As awareness of these advantages spreads, more industries are expected to switch to briquettes for their energy needs, thereby increasing global demand. Furthermore, as the world continues to seek sustainable energy solutions to combat climate change, the carbon-neutral aspect of briquettes will also contribute to their increased global uptake. Thus, the efficiency in transportation and storage of briquettes is a key driver of their rising demand worldwide.

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Key Market Challenges

Fluctuating Raw Material Prices

Fluctuating raw material prices pose a significant challenge to the global briquettes market. Briquettes, typically made from waste materials like agricultural residues or sawdust, are subject to the instability of raw material costs. When the prices of these materials rise, the cost of producing briquettes also increases, which invariably leads to a surge in the market price of briquettes. Consumers, particularly in developing nations where cost sensitivity is higher, are likely to balk at these escalated costs and search for more affordable alternatives. This switch in consumer behavior will, in turn, decrease the demand for briquettes globally. In addition, higher production costs might discourage new entrants into the market, limiting the availability of briquettes and further contributing to the decline in demand. Hence, fluctuations in raw material prices can create a ripple effect through the briquette industry, destabilizing market dynamics and ultimately leading to a decrease in global demand.

Availability Of Alternative Renewable Fuel Sources

The global demand for briquettes is anticipated to decrease with the increasing availability of alternative renewable fuel sources. The development and adoption of renewable energy sources such as solar, wind, and hydropower have been rapidly increasing, offering sustainable and eco-friendly alternatives to traditional fuel sources like briquettes. Advancements in technology have made these renewable energy sources more efficient and affordable, making them an attractive option for many countries looking to reduce their carbon emissions and dependence on fossil fuels. Furthermore, government incentives and policies promoting the use of renewable energy have also contributed to their growing popularity. In many developed nations, renewable energy is now seen as a key component of their energy mix. With the ongoing global shift towards cleaner and sustainable energy, the demand for briquettes, which are often associated with high carbon emissions and environmental degradation, is expected to decrease. This downward trend in demand for briquettes may be exacerbated by increasing awareness and concern about environmental issues among consumers, leading to a shift in consumption patterns towards more sustainable fuel options.

Key Market Trends

Advancements in Briquette Production Techniques

Advancements in briquette production techniques have greatly increased briquettes' appeal, triggering an anticipated surge in global demand. The latest advances, particularly in densification technology, have improved briquette quality and efficiency. These high-density briquettes burn longer and more consistently, increasing their suitability for a range of uses, from household cooking to industrial applications. Furthermore, innovations in production methods have allowed for the use of various raw materials, including agricultural residues and waste materials, making briquette production more sustainable and cost-effective. The capacity to utilise waste not only reduces the production cost but also contributes to waste management, adding an environmental perspective to its appeal. Therefore, the improved efficiency, versatility, and environmental advantages of these advanced briquettes are expected to stimulate their demand. Additionally, as countries strive to meet their energy needs while limiting their carbon footprints, the attractiveness of these carbon-neutral briquettes is likely to rise even further. Consequently, innovative briquette production techniques have set the stage for a global upturn in demand, transforming the way we approach fuel consumption and environmental conservation.

Increasing Population & Energy Demand

The burgeoning global population, coupled with escalating energy demands, is projected to drive a significant increase in the demand for briquettes. As the world's population continues to rise, so does the need for reliable and efficient energy sources. The impetus for developing countries is to secure affordable and sustainable energy solutions to support their expanding economies and infrastructural development. Concurrently, developed nations are seeking greener and more sustainable energy sources to meet environmental targets and combat climate change. Briquettes, formed from compressed biomass, are gaining traction as a viable solution to these challenges. They offer an eco-friendly and efficient source of energy that is not only cost-effective but also accessible to both urban and rural populations. Furthermore, the production of briquettes promotes the use of waste materials, thereby contributing to waste management and recycling efforts. Consequently, the dual drivers of population growth and energy demand are set to fuel the global demand for briquettes, positioning them as a key player in the future energy market.

Segmental Insights

Type Insights

Based on the Type, Wood Briquettes have emerged as the leading choice in the market due to their exceptional combustion efficiency. Not only do they provide a reliable source of heat, but their eco-friendly attributes resulting from sustainable wood sourcing make them highly sought after by environmentally conscious consumers. These versatile briquettes find applications across diverse sectors, ranging from efficient domestic heating solutions to powering industrial boilers, providing a sustainable and cost-effective solution for various energy needs. With their remarkable performance and environmental benefits, Wood Briquettes continue to dominate the market and garner widespread recognition as a renewable and efficient energy source. Their popularity is further strengthened by their long-lasting burn time and the reduced emissions they produce, making them an excellent choice for both residential and commercial use.

Application Insights

Based on the Application, in the global briquettes market, thermal energy holds a dominating position due to its numerous advantages. The increasing demand for clean and economical fuel alternatives has propelled the use of briquettes in the thermal energy sector. These compacted blocks of biomass or charcoal are extensively used in industries such as chemical, cement, and paper, as well as in residential and commercial heating applications.

Briquettes offer exceptional thermal efficiency, meaning they produce more heat with less fuel consumption, resulting in cost savings and reduced environmental impact. Additionally, their low ash content minimizes waste and maintenance requirements. Moreover, the sustainability of briquettes, which are typically made from renewable resources, further contributes to their appeal as an ideal choice for thermal energy production. Overall, the growing adoption of briquettes in various sectors highlights their potential to meet the increasing global demand for clean and efficient energy solutions.

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Regional Insights

The Asia-Pacific region currently dominates the Global Briquettes Market, fueled by the high demand for energy sources in rapidly developing countries like China and India. In these nations, the increasing population and rapid industrial growth play a significant role in driving the demand for briquettes. As urbanization and infrastructure development continue to surge, the need for reliable and sustainable energy solutions becomes paramount. Furthermore, the Asia-Pacific region's dominance in the global briquettes industry can be attributed to several factors. The region is rich in natural resources, particularly in terms of coal and biomass, which are the primary raw materials for briquette production. This availability of resources ensures a steady supply of feedstock, which contributes to the region's robust production capacity. Moreover, the Asia-Pacific region has witnessed significant advancements in briquette manufacturing technologies, leading to improved efficiency and product quality. This has further boosted the region's competitive advantage in the global market, attracting both domestic and international players to establish their production facilities in the region.

Additionally, the region's governments have been proactive in promoting the use of briquettes as a cleaner and more sustainable alternative to traditional fossil fuels. This support, coupled with favorable policies and incentives, has encouraged the adoption of briquettes in various sectors, including residential, commercial, and industrial.

Key Market Players

• Biomass Secure Power Inc.
• Drax Group plc
• Enviva Inc.
• Geetha Biotech Ltd.
• German Pellets GmbH
• Lignetics Group
• Om Greentech Industries
• Pacific BioEnergy Corp.
• Pfeifer Group
• Pinnacle Renewable Energy Inc.

Report Scope:

In this report, the Global Briquettes Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

·         Briquettes Market, By Type:

o   Saw Dust Briquettes

o   Agro Waste Briquettes

o   Wood Briquettes

o   Others

·         Briquettes Market, By Application:

o   Power Generation

o   Thermal Energy

o   Others

·         Briquettes Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Kuwait

§  Turkey

§  Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Briquettes Market.

Available Customizations:

Global Briquettes market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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