The council is considering a ban due to the threat the lanterns pose to livestock, wildlife and the general public.
A report presented to the council by a countryside ranger highlighted recent fires which had been caused by the floating objects, including the Smethwick recycling plant blaze.
CCTV footage shows the moment the lit sky lantern landed at the West Midlands plant in July last year, causing £6m worth of damage and leaving the business, Jayplas Ltd, out of action for six months.
Video courtesy of the BBC
The study included statistics on helium balloons, with one in 10 returning intact when they land.
The council is the latest in a long line to act over the dangerous products.
It is almost a year since the launch of Farmers Guardian’s Say No to Sky Lanterns campaign.
FG has been working hard to garner support for a ban and dozens of organisations, councils and high profile individuals have pledged their support by prohibiting the use of sky lanterns where they can.