NEWARK, Del, March 13, 2023 (GLOBE NEWSWIRE) -- The global coal briquettes market is expected to witness a positive growth outlook by registering a stable CAGR of 4.2% during the forecast period from 2022 to 2032. The global market is expected to hold a value worth US$ 2,273.8 Million in 2022 and garner US$ 3,431.2 Million by 2032. The growth of the market is attributed to the growing demand for coal briquettes in the manufacturing sector such as steel which demands high temperatures and heat. As per the International Energy Agency (IEA), the application of renewable energy increased by 3% in 2020. Also, the share of renewables in electricity generation reached 29% that year, up from 27% in 2019.
Unlike lump charcoal, briquettes are manufactured wood by-product that is compressed with additives that assist them to light and burn easily and for a longer duration. They comprise a higher practical thermal value and produce much lower ash content around 2-10% as compared to 20-40% in coal. They are known to be 40% more efficient, hotter, and longer lasting than firewood. This efficiency can be attributed to their low moisture and density. Besides, they are environment-friendly, renewable, and easy to implement.
Request a Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-14138
Briquettes efficiently replace the application of conventional type of fuels and have a good thermal calorific value. It consists of Argo waste in order to produce briquette, hence, it is considered cheaper than fuel. Yet another benefit associated with coal briquettes is that it comprises consistent combustion and ignition temperature. Also, due to compression, briquette helps in reducing waste by 90%. Attributed to such factors, the market is likely to progress significantly in the coming period. Surging demand for renewable energy all over the world and paired with increasing investments by several Asian and African nations in coal briquettes to meet the surging demand for energy are projected to offer ample growth opportunities to the market in the near future.
Key Takeaways
- Surging demand for energy and fuel resources is attributed to the growing energy crisis and pollution of the environment which has resulted in the innovation of alternative energy fuels that is predicted to augment demand for coal briquettes and benefit the market in the forecast period.
- The coal briquettes are gaining immense traction within the metallurgy industry since the increasing application of coal coke in the sector has resulted in environmental degradation. Therefore, coal briquettes are responsible for playing a significant role in the metallurgy sector and are becoming more popular.
- Governments across several countries are actively taking initiatives to encourage the application of coal briquettes, which will benefit the market in the coming time. In 2018 in Africa, a plant for the production and sales of coal briquettes was established as a substitute for home use. Such factors are predicted to augment the market growth during the assessment period.
- As per Future Market Insights, coal briquettes for food preparation are predicted to experience widespread demand that is likely to experience a healthy CAGR of 4% during the 2022-2032 assessment period. Rising consumption of barbecued food preparations is likely to be the chief sales accelerator.
- Furthermore, several benefits are associated with coal briquettes as they comprise higher practical thermal value, lower ash content, and enhanced calorific value are factors adding to the segment’s growth, thus, augmenting the industry size during the forecast period.
Before Buying, Visit for Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-14138
Competitive Landscape
Key market players in the global coal briquettes market are adopting various strategies such as acquisition, partnerships, and launching new products, which will make the industry more interactive and garner more opportunities in the forecast period.
Key Companies Profiled
- ITO Global Trading Company
- Snesmi Techno Pvt. Ltd
- Sun Company
- Coal Hut
- Milazzo Industries
- Milward Alloys Inc.
- Halogen Supply Co. Inc.
- Bepex International LLC
- Dauber Co.
Key Segments Profiled in the Global Coal Briquettes Market
By Appearance Type:
- Pillow Shaped Coal Briquettes
- Hexagonal Shaped Coal Briquettes
- Round Shaped Coal Briquettes
- Square Shaped Coal Briquettes
By Composition Type:
- Wood Charcoal Briquettes
- Coal Dust Briquettes
- Peat & Paper Coal Briquettes
- Saw Dust Coal Briquettes
- Wood Chips Coal Briquettes
By Application:
- Coal Briquettes
- Coal Briquettes
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Ask an Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-14138
More Insights into the Coal Briquettes Market
According to FMI analysis, Europe is anticipated to dominate the global coal briquettes market during the forecast period by accounting for around 21% of the global revenue. Several countries such as Germany, the United Kingdom, the Netherlands, and Sweden are encouraging renewable resources, which can be used as a source of fuel for various purposes. This is likely to provide ample opportunities for coal briquettes in the coming future.
German Industrial engineering is utilizing biomass briquettes in the energy consumption segment that has undergone several crucial developments, making it highly reliable and offering solutions tailored to meet customer requirements in the best way possible.
According to the FMI analysis, the North American coal briquettes market is predicted to procure the second-largest market share throughout the forecast period. In 2022, the region is likely to garner 18% of the global revenue.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
Browse Full Report @ https://www.futuremarketinsights.com/reports/coal-briquettes-market
Have a Look at Trending Reports of Chemicals & Materials Domain
Lignin Waste Market: Lignin is a natural antioxidant which trap free radicals and absorbs UV radiations. This property of lignin is bringing interest of sunscreen manufacturers to use lignin coating on TIO2 chemical in sunscreen.
Quinoline Market: Quinoline has a double-ring structure composed of a benzene ring with pyridine linked to two neighboring carbon atoms. Quinoline is poorly soluble in cold water but rapidly dissolves in organic solvents and hot water.
Isooctyl Alcohol Market: The increasing demand for lubricants in various end-use industries is expected to boost the demand for Isooctyl alcohol.
Propylene Market: Polypropylene is a major end-use product of propylene, and its demand is increasing due to its use in various applications such as packaging, consumer goods, automotive, and construction.
Platinum Nanoparticles Market: Platinum nanoparticles are widely used in the automotive industry to manufacture catalytic converters, which help to reduce vehicle emissions.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
