Global Wood Charcoal Market: Overview
The global wood charcoal market is likely to witness robust growth in the near future. The wood charcoal market is witnessing a rising demand for several wood and charcoal applications including gas masks, filters, antigastric drugs, deodorizers and several others. The rising air pollution, the growing research and development by the pharmaceutical industry, and rising awareness about personal hygiene are expected to drive growth. Additionally, wood charcoal continues to remain an important source for conventional applications in emerging nations as well.
Conventionally, wood charcoal were an important source for fire combustion. Thanks to rising alternatives for energy, reliance on wood charcoal has diminished recently. However, wood charcoal has gained momentum in the production of various chemicals. These new products include sodium cyanide, carbon disulfide, and carbon tetrachloride. The rising demand for these chemicals continues to be a major source of revenues for the global wood charcoal market.
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Global Wood Charcoal Market: Notable Developments
The growing water pollution is expected to represent a major opportunity for players in the wood charcoal market. Active charcoals are one of the effective agents at removing chlorine, odor, and volatile organic compounds, and sediments from water. Additionally, water pollution is a major area of concern worldwide. For example, nearly 1.7 billion population in the world is expected to face severe shortage of water as rivers continue to dry up, due to excessive water usage. This problem is expected to impact more than 40% of the global population in the near future.
Additionally, major global organizations like the world bank are investing major sums in delivering sanitation around the world. For example, currently the World Bank is running over 170 projects worth US$26.7 billion. Among these over 70% of the project funding is for clearner water supply, irrigation, and sanitation.
Global Wood Charcoal Market: Drivers and Restraints
The global wood charcoal market continues to face several challenges, thanks to rising regulations impacting growth. Several governments have passed legislations limiting the use of wood and charcoal as a fuel, which is expected to remain a challenge. However, its specific benefits for the food and beverage industry to provide more taste, flavor, and aroma to the food still remains strong. Additionally, wood charcoal setup can be relatively easy to arrange for small restaurants, making way for more expansion opportunities in the near future.
Global Wood Charcoal Market: Geographical Analysis
The global wood charcoal market is expected to witness limited growth in North America. The rising regulations are expected to stagnate growth of the wood charcoal market in the region for some time. Recently passed legislations are expected to remain challenging in the first half of the forecast period. However, growing use of charcoal in water filtration, gas masks, and formation of chemicals are expected to drive significant growth in the near future.
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On the other hand, wood charcoal remains an important source of inspiration for emerging nations still. The conventional use of wood charcoal as fuel, growing demand for clean water, and modern uses such as chemical products are likely to drive significant growth in Asia Pacific. Furthermore, many countries in Asia Pacific remain major exporters of wood charcoal. The biggest ones include Indonesia and China. On the other hand, Mexico, Poland, Belgium continue to drive growth of exports of the global wood charcoal market. US, Germany, France, and South Korea remain key importers of the products in the global wood charcoal market.
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