Press Release

Asia-Pacific Briquettes Market to Grow at a Formidable Rate During Forecast Period

Growing environmental concerns along with improvement in renewable energy sources to drive Asia-Pacific briquettes market through 2024

According to TechSci Research report, Asia Pacific Briquettes Market By Type, By Application, By Country, Competition, Forecast & Opportunities, 2024, the Asia-Pacific briquettes market is expected to grow at a CAGR of around 9% during the forecast period. Briquettes system are witnessing adoption since they produce low net total greenhouse gas emissions. Further, growing demand for fuels in countries like India and China is further driving the demand for briquettes across the region. However, low energy output when compared to other sources of fuels and limited awareness likely to hamper the growth of the market during forecast period.

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The Asia-Pacific briquettes market is segmented based on type, application, country and company. Based on type, the market can be categorized into saw dust briquettes, agro waste briquettes, wood briquettes and others. Saw dust briquettes are expected to register the highest CAGR during the forecast period. This can be accredited to their low ash content and smokeless usage. Based on application, the briquettes market can be fragmented into power generation, thermal energy and others. The thermal energy segment is expected to hold significant market share owing to the widespread use of briquettes in thermal applications such as heating purposes, steam generation in boilers, drying, and others.

Energex, Shijiazhung Ningshu Trading Co., Ltd, HT Solar Vietnam Co., Ltd, Virdis Energy Pvt Ltd., Guangzhou Aoke Ruifeug Energy Savings Technology Service Co., Ltd., S.L. Bioenergy, Liaoning Senon Renewable Energy Co., Ltd., Enviva, Pinnacle Renewable Energy Inc., Pacific Bio Energy Corporation and others are some of the leading players operating in Asia-Pacific briquettes market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.

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“The briquettes market in Asia-Pacific is expected to witness substantial growth during the forecast period on account of increasing bio-waste generation and growing environmental pollution by the use of kerosene and charcoal. Additionally, the availability of abundant & cost-effective sources of raw materials, economical production of briquettes, and growth of indigenous production of biomass briquettes is further propelling the market of briquettes across the region.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.

“Asia Pacific Briquettes Market By Type, By Application, By Country, By Company, Forecast & Opportunities, 2024 has evaluated the future growth potential of Asia-Pacific briquettes market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Asia-Pacific briquettes market.

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