According to a new report published by UnivDatos Markets Insights, the Coal Briquettes Market is expected to grow at a CAGR of around 5% from 2022-2028. The analysis has been segmented into Composition (Coal Dust, Sawdust, Wood Charcoal, Wood Chips, Peat Paper, and Others); Application (Food Processing, Metallurgy, and Others); Region/Country. The coal briquettes market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the coal briquettes market. The coal briquettes market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the coal briquettes market at the global and regional levels.

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Market Overview

Coal briquettes are made up of compressed wastes such as bamboo, sawdust, forest waste, wood shaving, and others and produce a high BTU of about 8100 per pound. Coal briquettes are used as the desirable fuel due to the lower smoke, longer durability, higher thermal energy as well as lower ash content, and uniform shape. In recent times, coal briquettes witnessed higher demand due to their growing adoption for commercial and residential heating applications along with the increasing demand from the industries attributed to the lower density, moisture, and higher efficiency along with the higher thermal calorific value. Also, rapid industrialization and growth in the manufacturing sector metallurgy industry among others are expected to support market growth. Furthermore, the lower purchasing operational costs than its counterpart as well as no sulfur content in the coal briquettes and easiness in the storage transportation of the coal briquettes are expected to propel the market growth during the forecast period. 

Factors such as technological advancement coupled with the growing number of industries and manufacturing units along with the new product launches in the market are some of the prominent factors that are positively influencing the market growth globally.

Some of the major players operating in the market include Sun Company, Snesmi Techno Pvt. Ltd., Coal Hut, Milward Alloys Inc., Dauber Co., Milazzo Industries, Cowboy Charcoal Brand, VESP Energy, Duraflame Inc., and Paraguay Charcoal.

COVID-19 Impact

The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the manufacturing industry along with supply chain disruption, regulatory and policy changes, labor reliance, working capital management, and liquidity solvency management. The coal briquettes market has been significantly affected during these times owing to the gap between supply and demand.

The global coal briquettes market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

·        Based on the composition, the market is segmented into coal dust, sawdust, wood charcoal, wood chips, peat paper, and others. The wood charcoal segment is expected to witness significant market growth during the forecast period owing to the lower cost of production and higher availability. Also, the higher calorific value, lower smoke, and lower ignition temperature compared to its substitute product and increasing adoption in the food beverage industry are expected to support the market growth during the forecast period. Additionally, wood charcoal is porous in nature and absorbs gases and liquid on its surface and is widely used in gas masks, water filters, and anti-gastric tablets or powder and is expected to register significant market growth in the coming time.

·        Based on the application, the market is bifurcated into food processing, metallurgy, and others. The metallurgy segment is expected to register a significant CAGR during the forecast period owing to the higher demand for the different types of metal in the industries. Additionally, the increasing cost of alternative fuels such as HSD, gasoline, and gases opens lucrative opportunities for coal briquettes for heating and other application and is

expected to propel the demand for coal briquettes.

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Coal Briquettes Market Geographical Segmentation Includes:

·        North America (United States, Canada, and the Rest of North America)

·        Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)

·        Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)

·        Rest of the World

This is mainly due to the rapid industrialization and growing food beverage industries in the region coupled with the increasing disposable income of the individual. Also, the rapid urbanization in the region and growing industries such as steel, iron, and silicon manufacturing, among others is expected to support the market growth. Additionally, the price volatility of substitute products and stringent government norms for carbon emission such as automated monitoring of the emission through CEMS (Continuous Emission Monitoring System) will support market growth in the coming time. Furthermore, technological advancement and increasing investment as well as increasing research development activities are expected to support market growth. For instance, in May 2019, Western Beef Inc. inked an agreement with Prime 6 Charcoal to become a retail partner and to sell Prime 6 hexagonal charcoal briquettes for barbecue through Western beef Inc. store website.

The major players targeting the market include

·        Sun Company

·        Snesmi Techno Pvt. Ltd.

·        Coal Hut

·        Milward Alloys Inc.

·        Dauber Co.

·        Milazzo Industries

·        Cowboy Charcoal Brand

·        VESP Energy

·        Duraflame Inc.

·        Paraguay Charcoal

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the coal briquettes market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the coal briquettes market?

• Which factors are influencing the coal briquettes market over the forecast period?

• What are the global challenges, threats, and risks in the coal briquettes market?

• Which factors are propelling and restraining the coal briquettes market?

• What are the demanding global regions of the coal briquettes market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

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