Charcoal Market Revenue, Driving Factors, Key Players, Strategies, Trends, Forecast Till 2027

Reports and Data’s latest industry analysis report offers vital data and information relating to the global Charcoal industry. Authors of the study have precisely evaluated the market size and revenue growth rate over the forecast period. The study specializes in detailed analysis of the market and highlights the key market dynamics including drivers, restraints, opportunities, supply & demand ratios, upcoming market trends, technological innovations, and value chain analysis. The global charcoal market is expected to reach USD 6.80 Billion by 2027, according to a new report by Reports and Data. Charcoal finds extensive usage as a fuel in metallurgical smelting applications. The charcoal possesses a fixed carbon content, which lies in the range of around 50.0% to about 95.0%. The fixed carbon content of charcoal is crucial in metallurgy processes, as it is accountable for the reduction of iron oxides of the iron ore for the production of the metal. Brazil is the only nation across the globe that deploys charcoal on a large scale in blast furnaces used in the production of steel, as a heat source, along with providing carbon monoxide for reduction of iron ore.

Charcoal finds widespread usage in the home and outdoor recreational cooking, which, in turn, is playing a significant role in boosting the demand for charcoal. It is used in several hotels and restaurants as part of their marketing strategy to lure customers. Surging demand for wood charcoal has garnered significant traction in the market, allowing existing market players to plan strategies to expand their market share, as well as attracting new entrants into the market.

Get PDF brochure for Industrial Insights and business Intelligence @ https://www.reportsanddata.com/sample-enquiry-form/3273

However, the adverse impact of the production of charcoal on the environment through the emission of greenhouse gases may hamper the growth of the market in the upcoming years.

COVID-19 Impact

In the current situation, metallurgical companies, one significant consumer of charcoal, have shown strong determination and carry on to uphold production amid the prevailing COVID-19 pandemic, which has severely affected businesses worldwide. Although metal production, including iron and steel and related activities, are covered under the Essential Commodities Act, it is a matter of concern as to how long metallurgical companies can go on producing. For instance, steel companies had bookings till March 2020 and would start facing issues to sell products from April as the majority of automotive companies and white goods producers shut down production, and hence impacting the demand for needle coke. Also, the fears of extension to the lockdown period would further rupture the production activity in many sectors comprising the electric vehicles segment.

Key participants include:

Royal Oak Enterprises LLC, Kingsford Product Company, Timber Charcoal Company LLC, GRYFSKAND, Duraflame Inc., Sagar Charcoal Depot, NAMCHAR (Pty) Limited, Mesjaya Abadi Sdn Bhd, Pyrocal Pty Ltd., and Direct Charcoal Ltd., among others.

Further key findings from the report suggest

By type, Lump charcoal held a significant market share in 2019. Lump Charcoal offers advantages such as it has easier temperature adjustment, contains no additives, lights quickly, produces little amount of ash, and burns hotter.

By distribution channel, the offline distribution channel contributed to the largest market share in 2019. The charcoal industry is very offline-intensive. Offline channel is the most preferred channel for distribution as it includes the opportunity for customers to create personal connections with business, which is beneficial in building loyalty. However, the offline channel necessitates the requirement of substantial investment of time by the buyer and high selling costs.

By application, filtration is likely to witness the fastest growth rate of 2.8% in the forecast period. The reason behind the high growth of the filtration application is that charcoal is quite natural and effective at removing several toxic items from the water, including chlorine and volatile organic compounds (VOCs) without disturbing the salt and mineral content of water and the usage of any chemicals.

The market in the Middle East & Africa is likely to grow at the fastest rate of 2.7% in the forecast period, owing to rapid urbanization and surging usage of charcoal in the cooking application in the region.

In February 2020, Kingsford, Product Company, a leading market player, made an announcement of its formal collaboration with OBR (Operation BBQ Relief), which offers meals to emergency personnel at times of natural calamities and other disasters, along with displaced residents.

Request for Custom Research @ https://www.reportsanddata.com/request-customization-form/3273

For the purpose of this report, Reports and Data have segmented the global charcoal market on the basis of type, distribution channel, application, and region:

Type Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)

Lump Charcoal

Charcoal Briquettes

Japanese Charcoal

Sugar Charcoal

Others

Distribution Channel Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)

Online

Offline

Application Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)

Metallurgical Fuel

Barbeque

Filtration

Healthcare

Construction

Others

Regional Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)

North America

Europe

Asia Pacific

Latin America

MEA

Buy now your Exclusive copy of Report @ https://www.reportsanddata.com/checkout-form/3273

Explore Reports and Data’s Prime Analysis of the global Materials and Chemicals Industry:

Stilbene Market by Size, Share & Trends Analysis Report By Stereoisomer Type (E-Stilbene, Z-Stilbene), By Region (North America, Europe, Asia Pacific, Middle East and Africa, Latin America), Competitive Strategies and Segment Forecasts for 2016-2026

Polyetheretherketone (PEEK) Powder Market By Process Type (Electrostatic Spraying, Dispersion Coating, Flame Spraying), By Application (Electronics, Industrial, Pharmaceutical, Aerospace, Aviation, Food Industry, And Automotive), And Region – Global Forecast To 2027

Active Toughening Agent for Epoxy Resin Market Size, Share & Analysis, By Type (Rubbery Elastomer Toughening Agent, Thermoplastic Resin Toughening Agent), By End-Use Industry (Building & Construction, Automotive & Transportation, Electrical & Electronics, Marine, Others), By Application (Coatings, Adhesives, Composite Materials, Others), And By Region, Forecast To 2027

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Contact Information:

Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com