The global briquettes market size is set to gain momentum from a hike in demand for the production of heat. This information is given by Fortune Business Insights™ in an upcoming report, titled, “Briquettes Market, 2022-2029.” Additionally, a rise in demand for the resources to provide electricity can surge the growth of the market.

COVID-19 Impact-

Pandemic Adjourned Market Growth as a Virtue of Supply Chain Disturbance

Briquettes are brick-like small pieces consisting of forest waste, sugarcane, bamboo, and others. These brick-like-products are used in pharmaceutical industries, chemical industries, paper mills, leather manufacturing, dye and pigment, chemical industry, etc. The sudden lockdown possessed harmed industries in innumerable ways. The market was kept on hold, and the ultimate supply chain was disturbed as a cause of the lockdown. The supply and manufacturing chain was disturbed and resulted in haltered briquettes market growth.

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Segments-

On the basis of type, the market is segmented into spruce, pine, beech, straw, and others.

Depending on the application, the market is split into heating of residential and commercial buildings and district heating and electricity production.

Based on end-use, the market is differentiated into the pharmaceutical industry, food, chemical industry, dye and pigment, paper mills, textile industry, and leather manufacturing.

Regionally, the market is integrated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Report Coverage-

The report covers each possible aspect that could lead to growth adjournment in the forthcoming time. The emerging trends of the key competitor countries are mentioned. The report covers new advancements in technology and major industry developments for a depiction of competition. Significant players are focusing on mergers, partnerships, market acquisitions, and others. The new advancements and insight reports of the regular scenarios and the developed scenarios are depicted in the report. Porters’ Five Forces Analysis is done to get in-depth insights into the market, which could help key competitors in gaining a competitive edge in the global briquettes market share.

Drivers & Restraints-

Vital Growth to be Backed by a Rise in Demand of Briquette for Production of Heat

The hike in demand for the production of heat is expected to be the major growth driver in the market. A rise in demand for the resources in order to produce electricity will surge the market growth. Briquettes is perfect for industrial boilers, producing electricity from steam, as well as cooking. This varied application of briquettes is expanding the market at an exponential pace.

Whereas, the inconsistent price of raw materials may put a limit on the market growth. This price fluctuation may later curb the restriction in the adoption of the product.

Regional Insights-

Stretched Demand of Briquettes in Heat Production to Back North America in Leading Global Market

North America is forecasted to grip the major growth in the market as a cause of a hike in the adoption of products for heat production. Moreover, the steady growth in the pharmaceutical market will be fueling the market growth at an exponential rate. The market is about to take up pace due to expanding adoption of briquettes in varied industries: paper mill, leather manufacturing industry, and others.

Europe region is expected to be the second major growth driver after North America. Whereas, U.K. and Germany would be the specific countries leading as a major contributor.

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Competitive Landscape-

Significant Market Players trying to Hold Customers by Adapting Technological Advancements

Over the projection period, the key players such as ECOSTAN and EN plus briquettes are focusing on mergers and acquisitions in the regional, local and global companies to capture the market. Prominent Players are implementing numerous tactics to gain their positions in the market as a dominating company.

List of Key Players Present in the Market:

  • F. Nielsen (Denmark)
  • EN plus briquettes
  • PACIFIC BIOENERGY (Canada)
  • Lignetics (U.S.)
  • ECOSTAN (India)
  • Pfeifer Holding GmbH (Germany)
  • Biomass secure Power Inc., (Canada)
  • Maine Woods Pellet Company LLC (U.S.)
  • FORMOSO TECHNOLOGIES GROUP (China)
  • Shree Shyam Dealcom (India)
  • Ukrainian Biofuel Suppliers (Ukraine)
  • Vidhyut Power & Systems (India)
  • LEHRA FUEL TECH PVT LTD (India)
  • Henan Mining Machinery Co., ltd. (China)

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