LONDON--(BUSINESS WIRE)--The global charcoal market size is expected to post a CAGR of close to 4% during 2019-2023, according to the latest market research report by Technavio.
Factors such as growing population, globalization, and rapid urbanization in many developing countries have led to the emergence of several industries, which in turn, has resulted in water contamination in many countries. The wastewater treatment process involves the elimination of contaminants using activated carbon. Therefore, rapid industrialization is expected to increase the demand for activated carbon for wastewater treatment, thereby driving the growth of the global charcoal market size.
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR31625
As per Technavio, the diverse use of activated carbon will have a positive impact on market growth over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2019-2023.
Charcoal Market: Diverse Uses of Activated Carbon
The increasing use of activated carbon in diverse applications is one of the major trends influencing the growth of the global charcoal market. Activated charcoal is extensively being used by several end-user industries to remove contaminants from municipal and industrial wastewater and groundwater. Activated charcoal is also a cost-effective solution for purifying the air from pollutants such as Siloxanes, hydrogen sulfide, and volatile organic compounds. It is also used in the mining industry in the gold recovery process. Activated carbon is one of the critical materials used in gold recovery methods such as Carbon in Column (CIC), Carbon in Pulp (CIP), and Carbon in Leach (CIL). Thus, the increasing use of activated carbon in many such applications is expected to fuel market growth.
“Apart from the diverse uses of activated carbon, other factors such as the stringent regulations on reducing GHG emissions coupled with the rising use of bioenergy in heating systems, changes in the energy mix, and the increased use of charcoal in barbecues are expected to boost the charcoal market growth during the forecast period,” says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 10,000+ market research reports.
Technavio's SUBSCRIPTION platform
Charcoal Market: Segmentation Analysis
This market research report segments the charcoal market by end-users (households, metallurgical industry, and others) and geography (the Americas, APAC, and EMEA).
EMEA led the market in 2018, followed by APAC and Americas, respectively. Various government support instruments including grants, subsidies and incentives are being provided to accelerate the consumption of charcoal in the region. Moreover, wood fuels such as charcoal are often priced lower than conventional fuels, making them much more affordable. In addition, the increasing focus of European countries on reducing the carbon footprint by replacing fossil fuel-based plants with renewable energy-based plants will further increase the adoption of charcoal in the forthcoming years.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
