Wood charcoal is a highly popular and widely used type of charcoal, derived from various wood sources, such as hardwoods and softwoods. It is created through a process called pyrolysis, where wood is heated in the absence of oxygen, resulting in the breakdown of organic materials and leaving behind almost pure carbon. Wood Charcoal has been used for centuries in various applications, including cooking, heating, industrial processes, and even as an art medium. In recent times, it has gained significant traction due to its environmental benefits and versatile applications.
A recent report by Future Market Insights (FMI) states that global sales of wood charcoal will value around US$ 20,536.1 Million in 2021. Substantial demand will come from residential sector, especially in developing regions of Asia Pacific, Africa and South America wherein over 2 billion people rely on wood energy for cooking and heating purposes. The study further reveals that cooking and heating in private households make up for about a third of worldwide renewable energy consumption
While emergence of alternative energy sources is hampering market growth, demand from chemical industry for production of chemicals – carbon disulfide, sodium cyanide, and carbon tetrachloride – is reflecting remunerative opportunities.
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Key Highlights
- Charcoal lumps continue to generate greater revenue through 2030
- Fuel feedstock to remain primary application area of wood charcoal
- Adoption of wood charcoal in residential sector to remain over decade ahead
- Hardwood to account for leading revenue share, tentative to 80%
- Markets in Latin America and South Asia to offer potential growth avenues
“Food prepared from barbeque charcoal (BBQ) grills offer various benefits such as less oil usage, nutritionally rich food, and low fat. As consumers are following stay-at-home orders, at-home consumption is surging and consumers are showing greater interest for indoor grilling. The trend is well-established in developed regions, in particular,” says analyst at FMI.
Wood Charcoal Market – Competitive Intelligence
The global wood charcoal market is highly competitive, with presence of several players competing with each other to capture bigger revenue share. Majority of leading players are allocating huge investments in R&D to roll out innovative offerings that help step up production efficacy and thus improve their regional presence. Case in point,
- Greencoal Namibia CC produces pure hardwood lump charcoal made from 100% natural Blackthorn wood. The charcoal offers enhanced lighting characteristics, reduced ash production, and amazing hardwood aroma.
- Kingsford Products Company develops professional briquettes made with 100% natural ingredients and premium wood char to assure professional-quality results. These briquettes offer better burn and feature low ash formula.
- Royal Oak Enterprises manufactures pure natural hardwood charcoal briquettes derived from wood, vegetable starch, and contain no additional substances.
Key Companies Profiled
- The Clorox Company
- Royal Oak Company
- Duraflame Inc.
- Fire & Flavor Grilling Company
- Fogo Charcoal
- Cooks International LLC
- Southern Fuelwood
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Wood Charcoal Market – Key Segment
Wood Type
- Softwood
- Hardwood
Product Type
- Charcoal Lump
- Charcoal Briquettes
- Charcoal Powder
Application
- Fuel Feedstock
- Reducing Agent
- Filtration Agent & Gas Masking
- Decolorizing Agent
- Gas Masking
- Sketches & Paints
- Soil Conditioning
- Gunpowder
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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