Global biomass pellet market is expected to grow at a robust pace in the forecast period, 2022-2027. The demand from the power industry,
which is expected to boost the consumption of biomass pellets, is rising due to
biomass pellets' ability to generate electricity and heat. Biomass pellets have
high density and low moisture content, biomass pellets are made and burnt with
a very high combustion efficiency. Agricultural waste, sawdust from wood, and
other materials are used to create biomass pellets. Wood pellets are the prevalent
type of pellet fuel and are usually made from compacted sawdust. In power plants and heating facilities,
wood pellets are used in place of coal, wood, oil, and gas. Biomass pellets are
sustainable energy sources that might displace fossil fuels such as coal or
natural gas as a source of electric energy, which is thought to affect the
market for biomass pellets.
Clean and Renewable Biomass Pellet
Fuel Driving The Market
A biomass pellet is a
biofuel made from organic matter and biomass, including wood waste and sawdust.
Biomass pellet is a cost-effective, clean-burning, and renewable fuel. It
significantly reduces carbon emission and pollution rate and improves the
thermal value of biomass waste during the burning process. Biomass pellets emit
the lowest greenhouse gases; hence it is not harmful for the environment. These
pellets are used as a substitute for coal in power plant, for heating boilers
to reduce global warming.
Growing public awareness regarding
the environment is the primary factor influencing market sales. As a result of
this change, demand for biofuels and other renewable energy sources such as
wind and solar has been robust. The need for clean energy has grown at an
unprecedented rate, especially in industrialized areas such as North America
and Europe. Owing to the aspects mentioned above, the market is expected to
grow during the forecast period.
Government Initiatives and Rising Conventional Energy Prices Promoting
Biomass Pellets Sales
Due to depletion of wood
& coal in the future, conventional energy costs have already hit record
highs and are expected to rise further in the future. As a result, the demand
for crude oil has surpassed the supply rate. For instance, it has been stated
that Venezuela's oil output has almost halved during the previous few years.
This has put a lot of pressure on the nations that import Venezuelan oil and
led to regular price changes that impact economies worldwide. Owing to the above-mentioned
factors, economies must diversify
their energy sources and employ biofuels instead of traditional fuels, thereby
resulting in increased demand for biomass pellets through 2027.
Biomass pellets have the
potential to be a significant source of energy, given the advantages that
biomass has to offer. The most crucial factor is that biomass pellets are
broadly accessible, renewable, and carbon neutral. Owing to these reasons, most
governments around the world have introduced several policies and investments
to encourage using biomass-based energy sources such as biomass pellets. For instance, North
America's 2019 Biomass Thermal Utilization Act (BTU Act) seeks to acknowledge
and promote the financial and environmental advantages of fuels and energy
sources produced from biomass. This law offers home and business applications
using clean wood heating systems a 15% to 30% rebate.
High Cost of Manufacturing
Low energy density and challenging
land acquisition for harvesting and storage are all problems with biomass
pellets. Therefore, biomass pre-treatment method is very expenses and small industries,
and organizations might not be able to hold. Since In addition, wood sawdust or
other pulverized woody products are used to make wood pellets, a renewable
energy source. To cut greenhouse gas emissions from electricity production,
they are co-fired in coal-based power plants and mono-fired in coal power
plants that have been converted. However, the market expansion for biomass
pellets may be hampered by the high cost of raw materials, such as wood pellets.
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Market Segmentation
Global biomass
pellet market is segmented into
source, type, and application. Based on source,
the market is divided into industrial waste &
co-product, agriculture residue, food waste, energy crops, virgin lumber, and
others. Based on type, the market is segmented into wood pellets, agri pellets,
torrefied pellets, and others. Based on application, the market is divided into
power generation, industrial heating, residential heating, and others. In
2019, total primary energy consumption of the US was about 100 quadrillion
British thermal units (Btu). The U.S. total primary energy use was about
17% of the total world primary energy consumption of about 604 quadrillions Btu
in 2019. Biomass pellets are mostly consumed in the United
States. In terms of energy usage, it was in the top 3 developed economies.
Since environmental problems and their impact is projected to result in
increased investment in renewable energy sector. A number of efforts
launched by the American government to promote the use of ecologically friendly
goods in the country are also projected to boost demand for biomass pellets
throughout the course of the forecast period.
Market players
Major
market players in the global biomass pellet market are New England Wood Pellet, Drax Group Plc, Forest Energy Corporation,
Energex Corporation, International Woodfuels LLC, Buhler AG, Enviva, Pinnacle
Renewable Energy Inc, Sumitomo Corporation, and An Viet Phat Group.
|
Attribute
|
Details
|
|
Base Year
|
2021
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|
Historic Data
|
2017 –
2020
|
|
Estimated Year
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2022
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Forecast Period
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2022
– 2027
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Quantitative Units
|
Revenue in USD Million, Volume in Units, and CAGR for
2017-2021 and 2022-2027
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|
Report coverage
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Revenue
forecast, company share, growth factors, and trends
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Segments covered
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·
Source
·
Type
·
Application
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Regional scope
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North
America, Asia-Pacific, Europe, South America, Middle East
|
|
Country scope
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United States, Canada; Mexico, China, Indian, Japan, South
Korea, Australia, Singapore, Malaysia, Germany, United Kingdom, France, Italy,
Spain, Poland, Colombia, Brazil; Argentina, Peru, Chile, Africa, Saudi Arabia,
South Africa, UAE; Iraq, Turkey
|
|
Key companies profiled
|
New England Wood
Pellet, Drax Group Plc, Forest Energy Corporation, Energex Corporation,
International Woodfuels LLC, Buhler AG, Enviva, Pinnacle Renewable Energy
Inc, Sumitomo Corporation, An Viet Phat Group.
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|
Customization scope
|
10% free report customization with purchase. Addition or alteration
to country, regional & segment scope.
|
|
Pricing and purchase options
|
Avail
customized purchase options to meet your exact research needs. Explore purchase options
|
|
Delivery Format
|
PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request)
|
Report Scope:
In this report, the global biomass pellet market has been segmented into following
categories, in addition to the industry trends which have also been detailed
below:
·
Biomass Pellet Market, By Source:
o
Industrial Waste & Co-product
o
Agriculture Residue
o
Food Waste
o
Energy Crops
o
Virgin Lumber
o
Others
·
Biomass Pellet Market, By Type:
o
Wood Pellets
o
Agri Pellets
o
Torrefied Pellets
o
Others
·
Biomass Pellet Market, By Application:
o Power Generation
o Industrial Heating
o Residential Heating
o Others
·
Biomass Pellet Market, By Region:
o North America
§
United
States
§
Mexico
o Asia-Pacific
§
India
§
Japan
§
South
Korea
§
Australia
§
Singapore
§
Malayasia
o Europe
§
Germany
§
United
Kingdom
§
France
§
Italy
§
Spain
§
Poland
§
Denmark
o South America
§
Brazil
§
Argentina
§
Colombia
§
Peru
§
Chile
o Middle East
§
Saudi
Arabia
§
South
Africa
§
UAE
§
Iraq
§
Turkey
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in the global biomass pellet market.
Available Customizations:
Global biomass pellet market report with the given market data, Tech
Sci Research offers customizations according to a company's specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
The global
biomass pellet market is an upcoming report to be released
soon. If you wish an early delivery of this report or want to confirm the date
of release, please contact us at [email protected]