Overview and Scope
White coal is a type of solid fuel produced by converting agricultural waste or biomass into a high-energy density fuel source. It is produced by compiling biomass materials such as agricultural residues, wood chips, sawdust, and other organic waste into dense, compacted blocks or briquettes. Its production and use contribute to reducing carbon emissions and mitigating the environmental impacts associated with conventional coal usage.
Sizing and Forecast
The white coal market size has grown strongly in recent years. It will grow from $2.87 billion in 2023 to $3.10 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to rural development initiatives, international agreements, volatility in fossil fuel prices, carbon pricing and emission regulations.
The white coal market size is expected to see strong growth in the next few years. It will grow to $4.30 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to renewable energy policies, international trade and agreements, climate change mitigation efforts, population growth and urbanization. Major trends in the forecast period include reduction in energy consumption, efficient cylindrical bio-coal briquettes, cybersecurity concerns.
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Segmentation & Regional Insights
The white coal market covered in this report is segmented –
1) By Type: Pyrolysis, Hydrothermal Carbonization, Other Types
2) By Mining Technology: Surface Mining, Underground Mining
3) By Application: Ceramic, Chemical, Food And Beverage, Textile, Power, Other Applications
North America was the largest region in the white coal market in 2023. The regions covered in the white coal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The growing demand for renewable energy is expected to propel the growth of the white coal market going forward. Renewable energy is derived from naturally replenishing resources that are virtually inexhaustible on human timescales. It arises because of climate concerns, increased awareness about environmental impacts, and favorable economic conditions. White coal, derived from renewable biomass materials, offers a greener alternative to traditional coal. For instance, in October 2023, according to reports published by the European Environment Agency, a Denmark-based government organization, the share of renewable energy in the European Union reached 22.5% in 2022, representing an increase of 0.6% compared to 2021. Renewable consumption saw a modest growth of 1.4 million metric tons of oil equivalent (Mtoe) between 2021 and 2022. Therefore, the growing demand for renewable energy is driving the growth of the white coal market.
Key Industry Players
Major companies operating in the white coal market are KKR Bio Fuels, Nexgen Energia, Vow ASA, CSC Bio-Coal Sdn Bhd, Vega Biofuels Inc, Balaji Agro Coal lndustries, NextCoal International Inc, VIGIDAS PACK, Global Bio-Coal Energy Inc, TorrCoal, Airex Energy Inc, SSGE Bio-Energy Company Ltd, Hind Bio Coal, BMK Woods LLC, JK Bio Energy, Ronak Agrotech Engineering, Radhe Engineering Co, Lehra Fuel Tech Pvt Ltd, Birquetting Machine Co, Green Fuel India, Eco Stan Ltd., Guru Nanak Agro Industries Inc., Biomass Briquette Systems LLC, Drax Group plc, White Energy Inc
The white coal market report table of contents includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
…………
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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