Industrial and Bar-b-que Charcoal Market Revenue, Opportunity, Segment and Key Trends 2017-2025

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Global Industrial and Bar-b-que Charcoal Market: Snapshot

The global industrial and bar-b-que charcoal market is prognosticated to gain a whole lot of significance in the coming years due to the need to find alternative sources of energy to replace fuel oil and mineral coal. Since the past few years, the volatile prices of common energy sources, limited availability of resources, and technological changes have augmented the requirement of new energy sources. As a result, wood pellets, charcoal, and other types of forest biomass have gained the limelight as some of the most suitable replacements on account of economic, environmental, and social reasons.

Prophesied to rise at a 2.4% CAGR between 2017 and 2025, the global industrial and bar-b-que charcoal market could be worth a US$5.4 bn by the completion of 2025 after attaining a US$4.5 bn valuation in 2017.

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Lump Charcoal to Rank Higher with Advantage of Less Ash Production

The world industrial and bar-b-que charcoal market is foreseen to be divided as per product and application, where each segmentation category could recognize one particular segment accounting for a larger share. By product, the market could see a classification into sugar charcoal, charcoal briquette, extruded charcoal, Japanese charcoal, and lump charcoal. The researchers foresee the Japanese charcoal market to be further segmented into white charcoal and black charcoal. Prepared from direct hardwood material, lump charcoal could secure a king’s share of the market in the near future. It is found to produce less ash in comparison with charcoal briquette.

With respect to a segmentation by application, the world industrial and bar-b-que charcoal market could be segregated into bar-b-que excluding primary cooking fuel and industrial segments. Under the industrial application, there could be three segments, viz. cement industry, chemical industry, and metal industry, important for market study. Amongst the two, the industrial segment is projected to bag a colossal share of the market. Players may want to focus more on the metal industry expected to attract a major share amongst the three sub-segments.

Charcoal provides greater advantages compared to other commodities in the industrial sector. This could be because of its stable pore structure, high carbon to ash ratio, and comparatively unreactive and few inorganic impurities.

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Latin America to Collect Dominating Share with Higher Consumption in Steel Industry

The international industrial and bar-b-que charcoal market is projected to be segmented into the Middle East and Africa (MEA), Asia Pacific (APAC), Latin America, Europe, and North America. Out of these regions, Latin America could garner a massive revenue in the coming years in terms of both volume and value. In 2016, it accounted for a nearly 45.0% of the total share. The steel industry is envisaged to offer well-paid prospects in the coming years due to its larger consumption of charcoal to reduce greenhouse gas emissions and enhance the quality of steel. Brazil is researched to produce charcoal by harvesting eucalyptus trees in large areas to utilize in blast furnaces.

North America is foretold to register a higher CAGR of 2.8% due to the growing demand in the bar-b-que sector. Moreover, charcoal briquette could record a greater share in the region. Asia Pacific could be another region witnessing a significant demand for charcoal briquette in industrial and chemical applications. Followed by India, China is envisioned to account for a broader share in Asia Pacific on the basis of production. Southeast Asia could, however, expect an increased demand for charcoal because of the rising consumption of household energy.

The worldwide industrial and bar-b-que charcoal market could testify the presence of leading players such as Maurobera SA, Namchar, and Gryfskand Sp. z o.o.

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Need for New Alternative Source of Energy Boosts Prospects in Industrial and Bar-b-que Charcoal Market

Barbeque grills and accessories have been increasingly gathering steam among home users and first-time buyers. The use of charcoal has been a prominent choice for them. The industrial and bar-b-que charcoal market is witnessing growth in revenues on the back of the rise in sales of these in metal, chemical, and cement manufacturers worldwide, where charcoal is an alternative source of energy. Various types of charcoal have hit the market, notably Japanese charcoal. The choice of the charcoal is shaped by the energy characteristics of the type of charcoal. For example, charcoal that emits less ash has gained preferences among some end-user cohorts. Consequently, over the past few years, the applications areas in the industrial and bar-b-que charcoal market have been also expanding. Demand for new energy sources with less volatility is a key trend among users in the market. Rising demand for industrial charcoal in the steel industry is expected to boost the valuation of the market. Further, strides being made in steel industry and metal industry are spurring the demand for different types of charcoal.

The COVID-19 outbreaks in recent months have caused massive disruptions in both macro- and micro-economic dynamics that shape the evolution of the industrial and bar-b-que charcoal market. The pandemic-led lockdowns brought many manufacturing industries to a screeching halt. Further, stakeholders were facing substantial pressure in retaining a steady supply of raw materials, which also adversely impacted the dynamics of the industrial and bar-b-que charcoal market. In the recent years, players are keen on adopting strategic frameworks and engage in new vendor partnerships in order to boost their bottom-line. This will pave way to new digital technologies for connecting with potential business buyers in industrial and bar-b-que charcoal market. Further, they are reformulating their strategic moves in relation to manufacturing investments to economies that are still emerging in the pandemic. This will expand the avenue for new entrants in the market.