Charcoal Market: Current Analysis and Forecast (2021-2027)

Increasing concern among governments and individuals to protect the environment, growing culture of barbeque food in Asia-Pacific countries, and growing utilization of charcoal in metallurgical industry to produce low-carbon contain metals are some of the factors which are supporting the market growth. Charcoal is made from the pyrolysis of organic material mainly wood. This charcoal found application in cooking fuel, heavy industry, purification and filtration, art, horticulture, pharmaceutical, smoking, automotive, and chemical, among others. This shows presence of vast serviceable market for charcoal. However, most the application area were halted due to COVID-19 which has provided hindrance to the demand of charcoal, globally. Many countries are dependent on import of charcoals, while some are totally exporter but owing to border closure, they were not able to operate affecting the demand of charcoal globally.
Based on type, the market is categorized into lump charcoal, charcoal briquette, Japanese charcoal, sugar charcoal, and others. Among these, lump charcoal captured the largest market share in 2020 and is expected to showcase significant growth rate during the forecast period. Low manufacturing intricacy and high application area are some of the factors of its largest market.
Based on application, the market is divided into, metallurgical fuel, cooking fuel, industrial, filtration, and others. Among these, metallurgical fuel and cooking fuel are two of the largest application area for the charcoal. Moreover, during forecast period, cooking fuel is likely to showcase considerable growth rate due to increasing demand of barbeque food in Asia-Pacific region.
North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Thailand, Rest of Asia-Pacific), and South America (Brazil, Argentina, Rest of South America), and Middle East & Africa (Nigeria, Ethiopia, Democratic Republic of Congo, Ghana, Tanzania, and Rest of Middle East & Africa). Currently, South America and Middle East and Africa are among the largest consumer of charcoal.
Some of the major players operating in the market are Kingsford Products Company LLC, Duraflame Inc., Royal Oak Enterprises LLC, E&C Charcoal (Pty) Ltd., Namchar (Pty) Ltd., Timber Charcoal Company LLC, BOM DE BRASA, Fogo Charcoal Company, Gryfskand Sp. z o.o, Aperam BioEnergia Ltd