High-paced growth in demand for activated charcoal in treating waste water or using it as a purifying and decolorizing agent is likely to scale up the production in upcoming years.
DUBAI, UAE / ACCESSWIRE / September 28, 2020 / The wood charcoal market will present lucrative opportunities in Middle East and Africa and a steady growth will be seen in the next decade. Wood Charcoal market is likely to witness a gradual easing of bottleneck in the supply chains. However, concerns regarding scarcity of raw materials and increased competition between the market players can act as a major restraint.
"Due to sustained demand for purified products and growing use of activated charcoal in households for grilling food, the market has witnessed substantial rise lately. Owing to surging need in agricultural and industrial sector, key companies are working hard and launching unique products to grasp the opportunities that are bubbling in the wood charcoal market," states the FMI Analyst.
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Wood Charcoal Market - Important Highlights
- Wood Charcoal Market is expected to reach a value of US$ 25.3 billion by 2030.
- On the basis of product type, charcoal lumps is expected to hold the highest market share globally.
- Demand for wood charcoal as a decolourizing and reducing agent is going to witness substantial importance in the upcoming years.
- Middle East and Africa is set to raise incremental opportunities in the market and witness significant investments.
Wood Charcoal Market - Critical Factors
- Activated wood-charcoal is used as an emergency poison treatment solution and also finds immense use in pharmaceutical industries.
- Activated wood carbon works as water, colour and odour purifier.
- Wood charcoal helps in eliminating impurities and treating industrial wastewater.
- Growing adoption of wood charcoal in dialysis machines, deodorization processes and purification is helping the market run at a good pace.
Wood Charcoal Market - Key Restraints
- Purely extracted wood can act as a threat to environment, leading to the market downfall.
- Reduced availability of raw materials and excess competition is also restricting the market growth.
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Expected Impact on Market by Coronavirus Outbreak
The pandemic has surely affected production because raw materials are not available and trade was at a halt for a long time. Due to strict lockdown, market has shifted online, boosting consumer preferences and behaviours. Online trends like BOPUS initiatives are in demand to improve the e-commerce trajectory. Manufacturers are also planning to revise the strategies to gain proper momentum.
Competition Landscape
Middle East and Africa will offer lucrative opportunities and widen investment opportunities for stake-holders. The key players in this market include Kingsford Products Company, Royal Oak Enterprises, LLC, Dura flame, Inc., Fire & Flavor Grilling Co., Cooks International LLC, Fogo Charcoal, K.P Bio coal, Hans Enterprises, and Green coal Namibia CC.
Companies are relying on ideas of product innovation and expansion of end-use and applications to help the market grow.
For an instance, Fire and Flavour Grilling Company has developed eco-friendly and biodegradable charcoal pods making it 100% user-safe which eliminates toxic emissions.
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More on the report
The report presents segmentation on the basis of wood type (soft wood, hard wood), product type (charcoal lump, charcoal powder etc.), application (decolorizing agent, fuel feedstock, gas masking, soil conditioning, gun-powder) end-use (water treatment, commercial paints, household etc.) region wise analysis (North America, Latin America, Europe, Asia, Oceania)
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SOURCE: Future Market Insights
View source version on accesswire.com:
https://www.accesswire.com/608034/Wood-Charcoal-Market-Will-exceed-US-235-billion-by-2030-Charcoal-Lumps-to-Acquire-60-Revenue-Share--Future-Market-Insights
