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A comprehensive overview of the Global Charcoal Market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Charcoal market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Global Charcoal Market at regional and country levels.
Market Overview
Heavy metal industry is one of the biggest consumers of charcoal despite of that consumption of charcoal is very low compared to other fuels. Brazil utilizes the highest amount of charcoal in steel production. However, in 2021, most of the steel production is based on fossil-fuel resulting in heavy emission on the environment. For instance, in 2018, on an average every ton of steel produced emitted 1.85 tons of carbon dioxide. But increasing focus on reducing carbon emission, stringent government regulation along with penalties are putting pressure on players to reduce their dependency on coal and coke. Owing to this many players operating in the steel production is replacing fossil-fuel with charcoal to produce low-carbon steel. For instance, Aco Verde do Brasil is using 100% charcoal to produce low carbon iron and steel products. Moreover, one of the largest steel producers, Arcelor Mittal uses charcoal in place of coke in blast furnaces to produce zero-carbon iron in its Brazilian plant.
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COVID-19 Impact
Covid-19 has impacted almost every industry except for some essential areas. Lockdown implemented by the several nations across the globe, resulted in factory shutdown which has minimize the raw material demand including charcoal. Moreover, many countries are dependent on import of charcoals, while some are totally exporter but owing to border closure, they were not able to operate thus affecting the demand of charcoal globally. However, increasing industrial capital expenditure to mitigate the effect of COVID-19, is likely to boost the demand of charcoal. Further, slowly but steady improving hospitality and tourism sectors are fueling the market as well.
Global Charcoal Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Type, the market is primarily categorized into:
Current, lump charcoal category held the largest market share in 2020 and is projected to retain its position during the forecast period owing to large and increasing demand from industrial sector. However, charcoal briquette category is expected to showcase fastest growth during the foreseeable future owing to growing usage in barbeque food.
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By Application, the market is mainly categorized into:
In 2020, metallurgical and cooking fuels categories are among the largest consumer of charcoal. This is due to the fact that these requires large amount of heating fuel and since charcoal is less toxic to other peers therefore its utilization is higher in these application areas.
Global Charcoal Market Geographical Segmentation Includes:
Based on the estimation, South America and Middle East & Africa are among the largest users of charcoal, globally. Increasing focus of steel companies to utilize charcoal in blast furnaces in place of coke and coal in South American countries and increasing urbanization and middle-income population are among the key factors which are driving the charcoal market in these regions.
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The major players targeting the market includes:
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Global Charcoal Market. The major players have been analyzed by using research methodologies for getting insight views on market competition.
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Key questions resolved through this analytical market research report include:
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