The Philippines charcoal market is estimated to be valued at $500.0 million in 2019 and is projected to reach $688.2 million by 2030, progressing at a CAGR of 2.9% during the forecast period (2020–2030). Among all application segments, cooking fuel is estimated to generate the highest demand of charcoal amounting to 1,206.0 kilotons in 2019. The country has a long history of high-volume charcoal consumption in residential installations and commercial establishments which occupy an appreciable size in the country’s demand dynamics for the conventional fuel source.
Favorable cost economics of using charcoal in residential and commercial facilities
In general, households and commercial installations in Philippines prefer charcoal owing to traditional favorability and highly charcoal integrated historical cooking regimes, relative ease in availability of feedstock (wood and coconut shells), affordability of stoves and accessories, taste favorability, and low cost of charcoal in comparison to conventional fuels. Low-income households to even upper-income households demonstrate high volume usage patterns of the conventional fuel source owing to aforementioned factors. Furthermore, demand for the product to produce activated carbon is expected to catalyze demand during the forecast period.
Segmentation Analysis of Philippines Charcoal Market
In terms of value, lump charcoal is predicted to generate the largest demand in 2019. This is expected to be demonstrated owing to a wide range of benefits its offers. The lump variant is profoundly used in residential and commercial facilities to serve as a cooking fuel. This is owing to relative ease of processing, low cost dynamics, and better performance than other substrates.
Traditionally, cooking fuel generated the highest demand in the Philippines charcoal market. Demand for residential fuel and utilities coupled with low cost of the product in comparison to other power sources (LPG and Kerosene), ease of production and presence of pre-existent functional supply chains, and high performance attributes (low smell and sufficient heat production) are attributed as factors which contribute in generating the high-volume demand for charcoal in the country.
Competitive Landscape of Philippines Charcoal Market
The Philippines charcoal market is highly unorganized in nature. The market is characterized by high-volume manufacturing of charcoal by residential end-users for self-consumption, and sales using unregulated market channels to close proximity buyers.
Browse report overview with detailed TOC on "Philippines Charcoal Market Research Report: By Application (Metallurgical, Cooking Fuel, Industrial, Filtration), Type (Lump Charcoal, Charcoal Briquettes, Japanese Charcoal, Sugar Charcoal) - Industry Opportunity Analysis and Growth Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/philippines-charcoal-market
BF Industries Inc., Cenapro Inc., Celebes Agricultural Corporation, Jacobi Group, MacKay Green Energy Inc., GCF Multi Products Development Corporation, and Premium A.C. Corporation are some of the major players engaged in country’s charcoal market.
Philippines Charcoal Market Segmentation
Market Segmentation by Type
Market Segmentation by Application