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Philippines Charcoal Market Analysis and Growth Forecast to 2030

P&S Intelligence says that due to this factor, the Philippines charcoal market will grow from $500.0 million in 2019 to $688.2 million by 2030, at a 2.9% CAGR during the forecast period (2020u20132030). The fuel is made by burning organic matter, such as wood and coconut shell, in the absence of oxygen. Compared to burning wood and coal to produce energy, the combustion of charcoal releases no ash and extremely low amounts of smoke and carbon emissions, which is why this fuel is considered an environment-friendly alternative.

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Philippines Charcoal Market Analysis and Growth Forecast to 2030

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  1. Philippines Charcoal Market Analysis and Growth Forecast to 2030 1 ©P&SIntelligence.Allrightsreserved

  2. Being a developing country, the Philippines relies on easily available products for everyday use. One of the most essential products that have been deeply integrated into the country’s life and culture is charcoal. People in the country find it cost-effect to procure charcoal over other energy resources, such as oil and gas, which is why it finds heavy usage in low-income as well as middle- income households. The reason behind the cost-effectiveness of the fuel is the ready availability of the raw materials used to produce it, especially coconut shells and wood. P&S Intelligence says that due to this factor, the Philippines charcoal market will grow from $500.0 million in 2019 to $688.2 million by 2030, at a 2.9% CAGR during the forecast period (2020–2030). The fuel is made by burning organic matter, such as wood and coconut shell, in the absence of oxygen. Compared to burning wood and coal to produce energy, the combustion of charcoal releases no ash and extremely low amounts of smoke and carbon emissions, which is why this fuel is considered an environment-friendly alternative. Download report sample at: https://www.psmarketresearch.com/market-analysis/philippines- charcoal-market/report-sample In the country, various types of the fuel are available, such as charcoal briquettes, lump charcoal, sugar charcoal, and Japanese charcoal. Among these, lump charcoal has witnessed the widest usage in the past, as it is the fuel of choice for everyday cooking purposes. People use lump charcoal for cooking in their homes, as well as in restaurants that center around barbecue and grilled food. Being a developing country, the Philippines still lives the traditional way to a large extent, which involves cooking food on open charcoal fires. Based on application, the Philippines charcoal market is divided into cooking fuel, metallurgical, filtration, industrial, and others, which includes pharmaceutical, medical, automotive, horticulture, and arts. Among these, the cooking fuel division dominated the market during the historical period (2014–2019) because of the deep-rooted association of the fuel with the country’s culinary culture. Charcoal produces a weak smell and sufficient heat and is easy to produce, which is why it is preferred for cooking purposes. In the years to come, the usage of the product for filtration purposes is set to rise the fastest. Charcoal is used to produce activated carbon, which has widespread industrial, consumer, and medical applications, especially filtration applications. For instance, it is used at water treatment plants to remove drugs, toxins, bacteria, viruses, chemicals, and fungus from water. A number of domestic water purifiers also come with cartridges containing activated charcoal, for a more thorough filtration process. Similarly, it is used in industries for the treatment of flue gas before it is released into the atmosphere.

  3. The Philippines charcoal market is highly fragmented in nature, as there are a large number of small-scale producers in the country. Often, people produce the charcoal and then consume it themselves, and this is the way most of the fuel in the country is produced. Even the marketing and sales of the products are majorly conducted via unregulated channels. The country is home to only a handful of large-large scale industry players, which include Cenapro Inc., BF Industries Inc., Celebes Agricultural Corporation, Jacobi Group, MacKay Green Energy Inc., GCF Multi Products Development Corporation, and Premium A.C. Corporation. Browse full report at: https://www.psmarketresearch.com/market- analysis/philippines-charcoal-market Therefore, with the increasing application areas of the fuel, its production and consumption are set to increase in the country. Market Segmentation by Type Lump Charcoal Charcoal Briquettes Japanese Charcoal Sugar Charcoal Others (Various Forms of Activated Charcoal) Market Segmentation by Application • • • • • Metallurgical Cooking Fuel Industrial Filtration Others (Medical, Pharmaceutical, Horticulture, Automotive, and Arts) • • • • • 3 © P&S Intelligence. All rights reserved

  4. Disclaimer: P&S Intelligence always keeps its customers’ interests at the core while carrying out research activities. P&S Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However, the information in publications is subject to fluctuations, as it is based on primary interviews of officials from various companies or organizations. P&S Intelligence is not responsible for any incorrect data provided by the key industry players of the concerned domain. The information or analysis in P&S Intelligence publications represents opinions based on research and should not be interpreted as statements of fact. Information in this report was believed to be correct at the time of publication, but cannot be guaranteed. P&S Intelligence does not endorse any product, service, or vendor depicted in its research publications. All intellectual properties, including trademarks and copyrights, belong to their respective owners and may be protected by copyright. Under no circumstance can these be reproduced in any form without prior written agreement of their owners. An order for market research report is intended for internal use of the company only and not for disclosure to third parties or any other publication in general. No service, report, or part thereof provided by P&S Intelligence can be reproduced, republished, resold, revealed, distributed, circulated, or sublicensed in any medium or form now realized or hereafter become realized, including but not limited to, all forms of optical-based media, magnetic, electronic, or digital, without a written permission from Prescient & Strategic Intelligence Pvt. Ltd. Kindly write to: enquiry@psmarketresearch.com B-13, Sector – 2, Noida, U.P. – 201301, INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886 4 ©P&SIntelligence.Allrightsreserved

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