Charcoal Market Demand, Share Analysis:
Metallurgical application has been the highest with over 65% demand dominated by it. In terms of value, the lump charcoal contributes to the maximum market share, around 67% in 2017. This is mainly due to its convenience of burning and creating a high amount of heat as compared to the others and primarily used for barbeques.
Charcoal Market Value Analysis:
According to the research report, the Charcoal Market was valued at USD 5813.2 Million in 2017, it is projected to reach USD 6492.8 Million by the end of 2023, with increasing at a CAGR of 2% during the forecast period 2017-2023.
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Charcoal Market Segmentation Study:
- Charcoal Market Analysis – by Product Type: (Volume, Revenue, USD Million, 2017 – 2025)
- Charcoal Market Analysis – by End User/Application: (Volume, Revenue, USD Million, 2017 – 2025)
Charcoal Market Regional share Analysis:
- North America
- Asia Pacifica
- Latin America
- Middle East and Africa
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Charcoal Market Regional Analysis:
Asia Pacific is the second largest growing market with a value of 20% market share and is estimated to boost the demand of sugar charcoal that is used extensively in creating artificial diamonds.
Charcoal Market Competitive Analysis:
Rapid industrialization and focus to go green and reduce pollution have led to various safer charcoals like Japanese charcoal to be used extensively for certain purposes like water purification. Despite the worry of it having a destructive environmental and ecological effect, causing deforestation and nations pointing out the unsustainable ways charcoal is manufactured in, their demand seems to be never-ending, at the least not till an alternative versatile fuel that can replace charcoal is created.
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Charcoal Market Key Players analysis:
Royal Oaks Enterprises, Parker Charcoal Company, Timber Charcoal Company LLC, Duraflame Inc., Kingsford Products Company LLC, Sagar Charcoal Depot and others.
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