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.
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.
The report gives an extensive competitive landscape, along with an examination of the major players engaged in the market. The leading companies in the Global Charcoal Market 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.
The report includes the latest coverage of the impact of COVID-19 on the Charcoal industry. The incidence has affected nearly every aspect of the business domain. This study evaluates the current scenario and predicts future outcomes of the pandemic on the global economy.
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Global Charcoal Market Split by Product Type and Applications:
Type Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
- Lump Charcoal
- Charcoal Briquettes
- Japanese Charcoal
- Sugar Charcoal
Distribution Channel Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
Application Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
- Metallurgical Fuel
Regional Analysis Of The Charcoal Market:
The report offers a detailed breakdown of the regional markets and categorizes the market into several segments and sub-segments for worldwide coverage of the market. The regional markets have been analyzed in the report by taking into account details like production volume, rate of consumption, gross revenue, and growth rate for 2020-2026 for the regions of North America, Europe, Asia Pacific, Latin America, and the Middle East Africa. Each of these regions has been investigated through the market findings across the major countries in these regions for a macro-economic understanding of the market.
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Market aspects included in this report?
- Key Strategic Developments:This study also evaluates the key strategic initiatives undertaken by market players, research and development, product launches, mergers and acquisitions, joint ventures, collaborations, partnerships, and the growth of the business of leading players operating in the market on both the regional and global levels.
- Key Market Features:The report assesses the key features of the market, including price, gross revenue, rates of production and consumption, import/export status, demand/supply dynamics, cost analysis, market share, growth rate, and profit margin. Additionally, the study provides extensive research on the vital market factors and the latest trends observed in the sector, along with pertinent market segments and sub-segments.
- Analytical Tools:The Global Charcoal Market report gives thoroughly studied and extensively assessed information pertaining to the industry-leading companies and their scope in the market by employing several analytical tools. The analytical tools like SWOT analysis, Porter’s Five Forces analysis, investment return assessment, and feasibility analysis have been included in the report to determine the market standing of the key players functioning in the market and their prospective development in the forecast duration.
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