White Coal Market Report 2026

The white coal market size has grown strongly in recent years. It will grow from $3.3 billion in 2025 to $3.52 billion in 2026 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to increasing agricultural residue availability, adoption of biomass briquettes in small industries, rising energy demand in rural areas, development of biomass processing infrastructure, focus on waste-to-energy practices.

The white coal market size is expected to see strong growth in the next few years. It will grow to $4.33 billion in 2030 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to increasing demand for renewable industrial fuels, rising carbon reduction targets, expansion of decentralized energy systems, growing investments in biomass processing plants, increasing substitution of fossil coal in thermal applications. Major trends in the forecast period include increasing adoption of biomass-based solid fuels, rising demand for low-carbon industrial energy sources, growing utilization of agricultural residues, expansion of briquetting and densification technologies, enhanced focus on renewable thermal energy.

The rising demand for renewable energy is expected to drive the growth of the white coal market in the coming years. Renewable energy comes from naturally replenishing resources that are virtually inexhaustible on human timescales, driven by climate concerns, greater awareness of environmental impacts, and favorable economic conditions. White coal, produced from renewable biomass materials, provides a greener alternative to traditional coal. For example, in 2023, the International Energy Agency (IEA), a Paris-based global energy authority, reported that global renewable electricity capacity additions reached an estimated 507 GW, about 50 % higher than in 2022, setting a new record of growth, with solar PV and wind accounting for the majority of the increase. This demonstrates the rapidly rising demand for clean energy sources that compete with conventional fuels, including coal. Thus, the growing demand for renewable energy is propelling the white coal market.

Major companies in the white coal market are advancing supply-side bio coal solutions to expand production capacity, enhance manufacturing processes, and introduce new bio coal products to strengthen their market position. A torrefaction reactor is an industrial thermal processing system that converts sustainably sourced biomass into high-carbon bio coal, offering a renewable solid fuel that can replace fossil coal in heavy industrial applications with lower lifecycle carbon emissions. For example, in May 2025, ANDRITZ, an Austria-based technology group, delivered and commissioned the first industrial-scale torrefaction reactor at the Joensuu Biocoal plant in Finland, enabling annual production of up to 60,000 tonnes of bio coal with integrated Metris addIQ process control, high-carbon output suitable for industrial combustion, and compatibility with existing energy infrastructure. This development highlights growing production capacity and technological maturity in bio coal supply, although cost and biomass feedstock logistics remain key implementation considerations.

In May 2024, Petrox Resources Corp., a Canada-based energy and mineral exploration company, announced its intention to acquire SSGE Bio Energy Company Limited for an undisclosed amount. Through this acquisition, Petrox aims to expand its portfolio into bio coal production and sustainable energy technologies, strengthening its technological capabilities and market presence in renewable fuels. SSGE Bio Energy Company Limited is a China-based provider of large-scale bio coal production capacity and proprietary biomass conversion technologies.

Major companies operating in the white coal market are KKR Bio Fuels, Nexgen Energia, CSC Bio-Coal Sdn Bhd, Vega Biofuels Inc, Balaji Agro Coal Industries, NextCoal International Inc, Global Bio-Coal Energy Inc, TorrCoal, SSGE Bio-Energy Company Ltd, Hind Bio Coal, JK Bio Energy, Lehra Fuel Tech Pvt Ltd, Green Fuel India, Eco Stan Ltd, Guru Nanak Agro Industries Inc, Biomass Briquette Systems LLC, White Energy Inc, Vow ASA, Drax Group plc, Airex Energy Inc.

North America was the largest region in the white coal market in 2025. The regions covered in the white coal market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the white coal market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The white coal market consists of sales of biomass briquettes, wood pellets, torrefied biomass, biochar, charcoal briquettes, and raw materials. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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