New Market Study Report “Charcoal Market –Market Demand, Growth, Opportunities, Analysis of Top Key Players and Forecast to 2025”.
New Study Reports "Charcoal 2019 Global Market Opportunities, Challenges, Strategies and Forecasts 2025".
Introduction / Market Overview:
The Global Charcoal Market Drives Towards Aggressive Growth
The valuation of the charcoal sector is expected to increase in the coming years as the market is projected to cross the $6,566,5 million mark by 2024. This can be attributed to experimentation in cooking choices in several households that use charcoal for barbecues, grilling, and other techniques, as well as in restaurants that are now favoring charcoal-based cooking.
Moreover, charcoal, when burnt in the absence of oxygen, produces activated carbon, which is used by several industries for purification purposes. It is deployed to remove contaminants during wastewater treatment and separates contaminants from groundwater as well as from the air.
The mining industry also incorporates activated carbon to segregate gold from contaminants. It is used in gold recovery processes like Carbon in Leach, Carbon in Column, and Carbon in Pulp. Its natural abilities at purification also add to its utility in the healthcare industry as well as in cosmetics. Companies, too, are switching to charcoal from coal for a more ecological setting.
Important key Players Analysis: Plantar Group, Carvão São Manoel, Gryfskand, Blackwood Charcoal, Matsuri International, Paraguay Charcoal, Jumbo Charcoal, VIET GLOBAL IMEX, Sagar Charcoal Depot, Namco CC, Ignite Products, Carbon Roots International, Sichuan Shuangli Yonghui Tanye and more.
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The charcoal market can be classified into lump charcoal and barbecue charcoal, based on their functionality. As per the valuation in 2018, lump charcoal gained the upper hand both in terms of the volume and value as it burns quickly, has lesser residual ash, and can be burnt at a higher temperature. This escalated its selling price, but due to its high calorific value and low ash retention, it is the most used charcoal among the end-users.
On the other hand, the barbecue charcoal is the most sought after category in the market due to its use in culinary processes. It can burn at temperatures of up to 370°C and adds an enriching flavor to the food, especially to meat items.
Latin America is the largest charcoal market in the world (2014-2018), boosted by industrialization, growing cuisine industry, and an increase in cement production all across the nation. However, Brazil is most likely to lead the way among the Latin American countries, with a likely valuation of $2 billion by 2024.
Moreover, MEA is poised to experience aggressive growth in the charcoal market, mostly due to the demand in barbecue applications and increased urbanization. The African region's consumption usually revolves around middle-income households while the Middle Eastern countries rely heavily on charcoal for shisha and barbecue.
South Africa is expected to lead the MEA region with respect to the charcoal market as it is expected to increase its cement production, industrial manufacturing, and power generation.
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Researchers at the Indian School of Design and Innovation, Mumbai, created an alternative to concrete bricks called the 'Green-Bricks.' These bricks are made from soil, cement, charcoal, and organic luffa fibers (also known as loofah) and contain more air pockets, thereby making them 20 times more porous.
These bricks are eco-friendly, and much cooler than the conventional bricks, thanks to the pores acting like tiny water tanks. These charcoal-based bricks are aimed at creating a breathable architecture that can provide healthy solutions for those residing in urban settlements. In such biophilic spaces, residents are happier, healthier, and more productive.
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Source: EIN Presswire