Biomass Pellets Market Overview
Biomass Pellets Market is projected to be worth USD 9.5 billion by 2030, registering a CAGR of 5.50% during the forecast period (2021 - 2030).
Biomass pellets are known as biofuels, which are built with compressed organic biomass or matter. Generally, biomass pellets are generated through different sources like virgin lumber, industrial waste, agriculture residue, food waste, and many others. The biomass pellets market has been classified into different types such as torrefied pellets, wood pellets, agri-pellets, and others. Out of these segments, the wood pellets demand is increasing daily across different end-use industries.
The top-performing regions such as Europe, Asia Pacific, Latin America, and North America have taken initiatives to reduce the consumption of fossil fuel. Hence, these regions started adopting the sources of renewable energy and a better way of generating heat and power. In 2016, Canada was generated 300,000 tons of wood pellet consumption. Moreover, the company of the United States is growing its business in Asia Pacific region has generated 70000 tons of wood pellet consumption. It is estimated that this region has generated 30% of the market share to contribute to the global biomass pellets market. In the industrial heating field, the countries like Thailand and China have performed well in the Asia Pacific region and exported biomass pellets on a large scale. Along with that, many industrialists have adopted clean energy sources to propel their performance on the global biomass pellets market.
The biomass pellets market overview report has identifies that the global market is classified into three segments that are type, application, and source. These market segments are providing strengths and good quality to the global biomass pellets market. In 2020, the global market was unable to provide production due to the lack of biomass pellet producers, investors, and suppliers. But today, the biomass pellets market has slowly represented its previous status in the global market.
The present ongoing pandemic has hampered the biomass pellets market growth. Due to the global lockdown, the global market has faced a huge loss. It has lost its productions, transportations, workforce, and investors. Along with that, the purchasing demand for biomass pellets products has decreased for a certain period of time. The global market has also lost its supplier chain.
The biomass pellets market trends report explains that the continuous efforts of the key players are propelling the global market growth. The implications of various strategies have increased its demand across the regions. Further, the global market is predicted to achieve its market growth size for the biomass pellets market forecast period.
The market key players of the global biomass pellets market are:
These key players are propelling global market growth. The implications of various strategies have increased the biomass pellets market demand across the regions.
Recently, many countries have shifted toward biomass pellets for power and heat generation to decline fossil fuel consumption and increase the adoption of renewable energy sources. Hence, the global biomass pellets market has propelled its growth with a renewable and clean energy source of energy usages.
Moreover, the global biomass pellets market is boosting up its demand among various end-use industries due to its high burning efficiency, low moisture content, and lower density. During the forecast period, the global market is expected to increase its growth due to the increasing adoption of clean sources for energy generation among the industrialists.
European and the American regions have imposed strict environmental policies over the Co2 emission, which is expected to enhance the growth of the global biomass pellets market and bring more opportunities for the manufacturers. Further, the Biomass Pellets are increasing their demand as it is consists of low moisture content and high demand among the manufacturers and the suppliers.
The biomass pellets market trends report explains that many customers are attracted to adopt the high burning efficiency, low moisture content, and lower density of the biomass pellets product. Hence, it is increasing the applications of the product and bringing more opportunities for the manufacturers.
The increasing application of biomass pellets products can be a restraint for the biomass pellets market. Moreover, the demand-supply deficit is predicted to hamper the growth of the global market during the forecast period.
Further, the key players are involved in the global market to bring stability in the biomass pellets market across the regions.
The global biomass pellets market might face challenges as the demands for the products are increasing day by day. It will be difficult while eliminating the regional boundaries for producing quality biomass pellets products.
Moreover, the biomass pellets products demands are increasing due to the implications of different strategies adopted by key players. Further, the global biomass market has aimed to generate its biomass pellets market size for the review period.
In 2019, the global biomass pellets market was estimated to meet USD 8.7 billion of biomass pellets market size. Moreover, the global market is again aimed to register a CAGR of 8.1% for the review period of 2025.
Hence, the biomass pellets market has engaged many key players to propel the market's growth and further enhance the demands of biomass pellets products across the regions.
Market segmentation Overview
Based on the type segment, the biomass pellets market has been segmented into various types such as wood pellets, torrefied pellets, agri-pellets, and others.
Among these segments, the wood pellets demand is growing on a large scale across various end-use industries.
According to the source segment, the biomass pellets industry is segmented into virgin lumber, industrial waste, agriculture residue, food waste, energy crops, and many others.
In 2019, agriculture and the industrial waste segments were predicted to increase the largest biomass pellets market share.
Based on the applications segment, the biomass pellets industry has been classified into Power generation, residential heating, industrial heating, and others.
Among all these application segments, the power industry is predicted to generate the largest market share in 2018 and is further predicted to bring more biomass pellets market scope during the forecast period.
According to the regional classification, the global biomass pellets market has its demand and supply all across various regions such as North America, South America, Latin America, Europe, Asia-Pacific, and other parts of the world.
Among all the regions, the European region is dominating the global market for the forecast period. The region has a high demand for wood pellets, which is driving the market growth. Another reason for the growing demands in this reason is the government regulations to reduce greenhouse gas (GHG) emissions. Along with that, the Asia-Pacific region is predicted to generate the fastest growth of the global market due to the growing use of biomass pellets in various industrial heating sectors. In this region, China and Thailand are contributing more. Furthermore, the high consumption of wood pellets in commercial heating and residential heating is the key growth driver in the North American region.
The biomass pellets market overview report has given the focus on the COVID-19 impact analysis, market overview, segmental overview, regional overview, competitor analysis, and recent developments for a better understanding of the global status of the market. This report has highlighted the overall growth and development of the global biomass pellets market across the regions.
Moreover, the global market has predicted that if the biomass pellets demands are increasing similarly for the research period, then it will achieve its goal for sure. Further, the more involvement of key players has given strength to the biomass pellets market to perform well across the regions.
Jan 2022 A.P. Moller Holding's geothermal heating company Innargi has signed a 30-year agreement to develop and manage the EU's largest geothermal heating plant in Aarhus, Denmark. Innargi provides a green and sustainable alternative to biomass, coal, and gas by supplying circular, consistent baseload energy for district heating. Aarhus' geothermal heating plant's projected capacity is 110MW, equal to 20% of Aarhus' district heating demand, and annual CO2 emissions are expected to be decreased by up to 165,000 tonnes. Assuming a successful evaluation process, the geothermal plant will be finished in 2029 and will operate for at least 30 years.
The Aarhus plant can reduce imported wood pellets by 55,000 tonnes per year. This means that direct biogenic CO2 emissions are reduced by 95,000 tonnes. If the conserved biomass is used for transportation reasons, such as methanol, another 70,000 tonnes of CO2 can be saved - equivalent to the emissions from 30,000 gasoline cars.
|Market Size||2030: USD 9.5 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Source, Type, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||AS Graanul Invest (Estonia),Pinnacle Renewable Energy Inc (Canada),Drax Group plc (UK), Enviva (US), German Pellets GmbH (Germany), Fram Fuels (US), Abellon CleanEnergy Limited (India), Ecostan (India), Lignetics (US), Zilkha Biomass Energy (US), Premium Pellets Ltd (Canada), JP Green Fuels (India),The Westervelt Company, Inc (US), New England Wood Pellet (US),Forest Energy Corporation (US).|
|Key Market Opportunities||The Biomass Pellets are increasing their demand as it is consists of low moisture content|
|Key Market Drivers||Many countries have shifted toward biomass pellets for power and heat generation to decline fossil fuel consumption and increase the adoption of renewable energy sources.|
Biomass Pellets is projected to be worth USD 9.5 billion by 2030, registering a CAGR of 5.50% during the forecast period (2021 - 2030).
The European region is dominating the global market for the forecast period due to the high demand for wood pellets and the government regulations to reduce greenhouse gas (GHG) emissions.