"Increasing applications of charcoal from food to filtration is keeping the market growth."
With the growing urbanization and industrialization across the globe, many environmental challenges have popped up world. With the stringent environmental laws for treating industrial wastewater, there is a high demand for charcoal. Also, a new trend of barbecued food created ample opportunities for charcoal manufacturers in the recent past. Moreover, industries are opting for charcoal instead of coal to minimize carbon dioxide emissions while producing silicon. This has provided a good opportunity for the market to grow in 2018.
Along with the above market scenario, charcoal is widely used in urban areas because of its advantages, such as high calorific value than firewood. In addition, easy transportation over long distances and less room for storage, smokeless, sulfur-free made it the ideal choice for barbecues across the world to opt for charcoal for use in their BBQs. Moreover, unlike firewood, charcoal is not deteriorated by fungi or insects. Such benefits offered by charcoal have high demand in the global market. In 2018, the global charcoal market was US$ 6.86 Bn and was expected to grow with a CAGR of 4.2% from 2019 to 2027.
Market Snapshot
End-use Analysis
"Major share of the charcoal market is gained by metallurgical industry."
Increasing demand from the steel industry has an impact on the charcoal market. Charcoal is widely used in the metallurgical industry on accounts of its advantages, such as clean fuel, high thermal efficiency, low cost, and investment. Along with it, the previously used coke during iron and steel making brought smoke and other pollutants. With the stringent environmental norms, the demand for charcoal in metallurgical applications has increased in the last few years.
Regional Analysis
"Latin America captured the major share owing to industrial growth."
Latin America was the largest market for the charcoal market in 2018. The regional charcoal market is driven by rapid industrialization, booming construction industry along with cement production, and an increase in several barbecue restaurants. In addition, with the growth of steel, automotive, construction, and infrastructure industries in Brazil and Mexico, there is a high demand for charcoal in the region.
Additionally, in the Middle East and Africa, there is a growing demand for charcoal from an increasing number of barbecues, which in turn, further drives the market in 2018. Overall, the rest of the world, consisting of Latin America and MEA, captured over 30% of the global charcoal market in 2018.
"Emerging partnership trend is keeping the market competitive."
The charcoal market is fragmented, and market players are focusing on partnerships with other players to bolster their market position. Following is the list of companies covered in this report.
Key Industry Development:
In May 2017, Kingsford Products Company filed a government petition to make barbecue ribs a national food across North America. The company also introduced Kingsford Long Burning briquettes that last almost 25% longer than Kingsford Original. With this launch, the company expected to improve its market share in the region in the coming years.
In September 2017, CBQ, LLC, a Carl Buddig & Company subsidiary, collaborated with Kingsford Products Company, a subsidiary of the Clorox Company, to produce ribs cooked in advanced barbecue entrees. With this multiyear agreement, both companies desired to capture a good share in the barbecued food category market.
List of Companies Covered:
Duraflame, Inc.
Royal Oak Enterprises, LLC.
BRICAPAR SA
Timber Charcoal Company LLC
Sagar Charcoal and Firewood Depot.
Namche
Mesjaya Sdn Bhd
Gryfskand sp. Z o. O.
MAUROBERA SA
Kingsford Products Company
Others
Historical & Forecast Period
The research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.
Segmentation Charcoal Type Segment (2017-2027; US$ Bn)
Lump
Briquettes
Binchotan (White Charcoal)
Coconut
Others (Mangrove, Shisha, Sawdust, Root, etc.)
End-use Segment (2017-2027; US$ Bn)
Metallurgy
Barbecue
Industrial
Filtration
Others (Medical, Pharma, Horticulture, etc.)
Geography Segment (2017–2027; US$ Bn)
North America (U.S. and Rest of North America)
Europe (U.K., Germany, France, and Rest of Europe)
Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
Rest of World (Middle East & Africa (MEA), Latin America)
The current report also comprehends qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities to understand the global charcoal market better. In addition, the global report also comprises a graphical representation of a competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.
Unique data points of this report
Recent trends across different regions in terms of the development of the charcoal market
Attractive investment proposition for application segment as well as geography
Frequently Asked Questions
The market for Charcoal is expected to reach US$ 6.86 Bn in 2028.
The Charcoal market is expected to see significant CAGR growth over the coming years, at 4.2%.
The report is forcasted from 2019-2027.
The base year of this report is 2021.
Duraflame, Inc., Royal Oak Enterprises, LLC., BRICAPAR SA, Timber Charcoal Company LLC, Sagar Charcoal and Firewood Depot., Namchar, Mesjaya Sdn Bhd, Gryfskand sp. Z o. O. are some of the major players in the global market.
