Growing Barbecue Culture Propelling Demand for Charcoal Briquettes in Asia

This is one of the key reasons that P&S Intelligence says will help the Asian charcoal briquettes market reach $1,158.4 million by 2024 from $952.5 million in 2019, at a 6.2% CAGR between 2020 and 2024. Barbecue has, for long, been associated with the culinary culture of South Korea, Japan, and Australia, whereas the tandoor is, in a way, synonymous with Indian food. All these food traditions have majorly utilized coal till now, but with time, the awareness about the harms of burning this substance has risen massively. Charcoal is considered a cleaner fuel for the purpose, which is why it has started replacing coal.

India is presently the largest Asian charcoal briquettes market because it is home to a number of producers, therefore accounts for a rather high-volume availability of the fuel. In 2018, 2,880.0 thousand tons of the fuel were produced in the country, says the Food and Agriculture Organization (FAO), which allowed for its easy availability in rural areas, where many people still do not have gas stoves and rely on charcoal for everyday cooking. Moreover, the fuel is also becoming popular for industrial usage in the country.

Here, charcoal briquettes are increasingly becoming preferred in the cement and steel industries, both of which are growing on account of the increasing construction activities. These sectors majorly utilize coconut shell charcoal briquettes, as they are less polluting than conventional charcoal and easily available and produce less ash. Owing to the strict environmental regulations on industries, conventional fuel such as coal is being replaced with these briquettes, especially in heaters and boilers. Another sector these briquettes are finding increasing usage in is silicon, owing to the rising demand for aluminum–silicon alloys in the country.

Thus, with the dual utility of charcoal briquettes for cooking and industrial use, their consumption will keep increasing in Asia.

Read more: https://www.psmarketresearch.com/market-analysis/asia-charcoal-briquettes-market-outlook

Comments

Post a Comment

Popular posts from this blog

Surging E&P in Shale Gas Reserves Propelling Demand for Well Cementing

Image
With the surge in exploration and production (E&P) activities in both unconventional and conventional oil and gas reserves, the demand for well cementing is growing rapidly all over the world. Moreover, because of the recovery of crude oil prices, the oil and gas industry is booming, which is, in turn, propelling the requirement for well cementing. The soaring E&P investments in countries such as China, Russia, Brazil, and the U.S. are fueling the expansion of the well cementing industry. Due to the above-mentioned factors, the demand for well cementing is rising sharply across the world. This is fueling the progress of the global well cementing market. The valuation of the market is predicted to grow from $7,577.6 million in 2018 to $10,065.4 million by 2024. Furthermore, the market is predicted to progress at a CAGR of 4.7% between 2019 and 2024. Well cementing is used in shale gas, oil, and gas wells.  Out of these, the requirement for well cementing is predicted to grow ra
Read more

How Will Cooling Appliance Demand Propel Insulation Market Growth?

Image
Factors such as the escalating demand for refrigerators and air conditioners, mounting infrastructure expenditure in developing countries, such as Brazil, China, India, and Russia, and increasing government support toward the installation of insulation systems in buildings are expected to drive the insulation market growth between 2018 and 2025. According to P&S Intelligence, the market will generate $101.3 billion revenue by 2025. Nowadays, governments of several countries are offering regulatory support to the installation of insulation products to improve energy efficiency.  The rising demand for air conditioners and refrigerators, on account of the soaring global temperature and the booming world population, is one of the major contributors to the market growth worldwide. The National Aeronautics and Space Administration estimates that the average surface temperature of the Earth has risen by 2.12 oF in 2020 since the late 19th century.  As per NASA, the years 2016 and 2020 ar
Read more

Rising Adoption of Renewable Energy Sources Driving Virtual Power Plant Popularity

Image
A virtual power plant is a centralized control system that is connected to power generating and transmitting units. Owing to the connection to such units, VPP requires lesser capital and can integrate several distributed energy resources. Due to low capital investments, power deficit countries like India, Nigeria, and Indonesia are increasing their reliance on VPPs. To ensure the development of sustainable and smoothly integrated power systems, such developing countries have escalated their spending on the development of VPPs to create an adequate power infrastructure. Additionally, the rapid shift from non-renewable energy sources to renewable sources will fuel the growth of virtual power plant market at 18.6% CAGR during forecast period. The development of non-conventional power plants will produce a large amount of energy, which will require an advanced power evacuation infrastructure to support the reliable flow of power. This will boost the creation of VPPs, which will ensure the
Read more