Carbonization Furnace Market projected to reach USD 564.19 Million by 2032, driven by green energy demand.

From GlobeNewswire: 2025-06-27 09:30:00

The Carbonization Furnace Market is on the rise, valued at USD 238.96 Million in 2023 and projected to reach USD 564.19 Million by 2032 with a CAGR of 10.07%. The U.S. market is expected to grow at a CAGR of 9.37% due to the demand for green energy solutions and biochar in farming.

Continuous carbonization furnaces dominate the market, with a revenue share of 68.79% in 2023 and a CAGR of 10.25%. Agricultural waste is the leading feedstock at 39.58%, while charcoal remains the top application at 63.64%. Asia Pacific leads the market, driven by abundant biomass resources, while Europe is expected to grow rapidly due to strict environmental regulations.

In November 2024, Meranti Green Steel invested USD 2 billion in building an electric arc furnace plant in Thailand, signaling a shift towards cleaner green steel production in Southeast Asia. For more insights on the Carbonization Furnace Market from 2024-2032, visit SNS Insider for the full research report.



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