Coal Briquettes Market

The High Calorific Value segment occupied the major share in the Coal Briquettes Market for 2023. Hence, these briquettes are used in industries such as power generation and cement manufacturing. They are widely used in industries because they give high energy and are cheap when compared to other sources. Owing to its demand, the segment is expected to have considerable growth in the forecast period.

The Medium Calorific Value segment is expected to have significant growth in the coal briquettes market during the forecast period.These briquettes are still widely used in many households and hotels as they have decent calorific values. They cater to the requirements of people who use coal for cooking and other applications. The low Calorific Value segment had a lesser portion of shares in the Coal Briquette market for 2023. They are used primarily in the cooking of low-temperature foods and other space-heating applications in houses in developing areas. They are much more cost-saving.

The raw material is one of the most essential segments of the Coal Briquettes Market, as it has an enormous impact on the market’s growth and industry’s trends. As for the case of coal briquettes production, the most common types of raw materials include biomass, coal, petroleum coke, and wood charcoal. Biomass is a result of organic materials and is regarded as renewable and sustainable. Thus, the given type of raw material accounts for a huge market share.

In 2023, about 45% of the total market’s revenue was possible due to the segmentation of biomass and its equivalent of about USD 14.7 billion.These numbers are projected to increase as they are currently connected to the tendency to search for alternative types of fuel and the growing attention paid to the problem of sustainability. Another traditional type of raw material is coal, which also presupposes a significant market share.

The shape segment of the Coal Briquettes Market holds significant importance, influencing market dynamics and consumer preferences. Among the various shapes available, cylindrical, hexagonal, oval, and rectangular briquettes each cater to specific needs and applications. Cylindrical briquettes, accounting for a notable share of the market, are often preferred for their efficient combustion and heat distribution. Their cylindrical shape allows for optimal air circulation, ensuring complete burning and maximizing heat output.

Hexagonal briquettes, on the other hand, are gaining popularity due to their compact design and ability to interlock, providing stability and reducing breakage during handling and transportation.Oval briquettes offer a unique combination of efficient burning and aesthetic appeal. Their oval shape facilitates better heat transfer and can be visually appealing in certain applications. The shape segment plays a crucial role in this growth, with each shape contributing to the overall market segmentation and data. Understanding the insights and trends associated with the shape segment is essential for industry stakeholders to make informed decisions and capitalize on growth opportunities.

The Coal Briquettes Market is segmented by application into Residential Heating, Industrial Heating, Cooking, and Other Applications. Residential Heating is the largest application segment, accounting for over 50% of the Coal Briquettes Market revenue in 2023. This is due to the high demand for coal briquettes to heat homes in developing countries, particularly in Asia and Africa. Industrial Heating is the second largest application segment, accounting for over 25% of the Coal Briquettes Market revenue in 2023.

Coal briquettes are used in a variety of industrial applications, such as boilers, furnaces, and kilns.Cooking is the third largest application segment, accounting for over 15% of the Coal Briquettes Market revenue in 2023. Coal briquettes are used for cooking in many developing countries, as they are a relatively inexpensive and efficient fuel source. Other Applications include the use of coal briquettes in power generation, agriculture, and other industrial applications. This segment is expected to grow at a steady pace in the coming years as coal briquettes become more popular as a sustainable and cost-effective fuel source.

The Grade segment of the Coal Briquettes Market is categorized into A, B, C, and D. Among these, Grade A is expected to dominate the market with a revenue of 12.23 billion USD in 2024. This dominance is due to the high demand for high-quality, low-ash coal briquettes that meet stringent environmental regulations. Grade B is projected to hold a significant market share, driven by its cost-effectiveness and suitability for various industrial applications.

Grade C briquettes are expected to witness moderate growth due to their lower calorific value compared to higher grades.Grade D briquettes are anticipated to have a limited market presence owing to their low quality and high ash content. The market data indicates that the demand for higher-grade coal briquettes is likely to remain strong in the coming years.