the global biomass pellet market the size had to go from 15.74 billion USD in 2020 and reach $29.76 billion by 2027, at a CAGR of 11.7% over the forecast period, 2021-2027. Rising demand from end-use industries is expected to drive the market over the forecast period. Consumption in the heating and power generation sectors will be particularly large, posting CAGRs of 8.7% and 12.4%, respectively, during the forecast period. Additionally, sawdust is gaining traction among manufacturers as a raw material for the production of biomass pellets.
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Key Influencers Related to the Biomass Pellets Market over the forecast period:
The increasing use of biomass pellets as the preferred fuel for co-firing coal-fired boilers is expected to significantly increase the demand for biomass pellets over the forecast period.
Industrial efforts to reduce carbon emissions and reduce overall raw material costs are expected to promote clean and low-cost biomass pellets, driving further market growth. Moreover, the excess availability of biomass feedstocks and the ability to meet the growing demand will most likely propel the expansion of the market over the forecast period.
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Governments have enforced strict regulatory policies to promote the use of renewable fuels. Moreover, myriad subsidies and incentives declared by governments and other institutions further contribute to the proliferating use of renewable sources. This shift towards renewable fuels to achieve sustainability is expected to support the growth of the biomass pellet market over the forecast period.
The active participation of major biomass market players and end-use industries across the globe in the international trade of biomass pellets is expected to result in promising growth prospects.
Impact of COVID-19 on Biomass Pellets Market:
The COVID-19 outbreak has significantly affected the market, leading to a decline in overall demand. Economic downturn and temporary closure of manufacturing bases have caused a major decline in most end-use industries, which is expected to negatively affect the biomass pellet market in the early years of the forecast period. The supply chain has been relatively less disrupted amid the pandemic compared to that faced by other industrial sectors, which is a supporting factor for the biomass pellet market.
The report outlines the Global Biomass Pellets market study based on source, application, type, and end-use industry.
On the basis of source, the biomass pellets market has been segmented into –
- Agricultural residues
On the basis of Application, the Biomass Pellets Market has been segmented into-
- To feed
- Civil fuels
- industrial fuel
On the basis of Type, the Biomass Pellets Market has been segmented into –
- Pellet Fuel
On the basis of end-use industry, the Biomass Pellets market has been segmented into-
- energy production
- Industrial heating
- Commercial and domestic heating
Biomass Pellets Market: Regional Outlook
The biomass pellet market has been segmented into Asia-Pacific, Europe, North America, Middle East and Africa. In 2020, Europe led the global market due to strict regulations favoring the use of renewable fuels. However, North America and Asia-Pacific are expected to grow at comparatively higher rates than the European market. Asia-Pacific, especially East Asian countries like China and Japan, will exhibit lucrative growth potential over the forecast period. This growth is attributable to the rapid industrial development that these countries have experienced recently.
Leading Competitors in the Global Biomass Pellets Market include-
The global biomass pellet market is highly fragmented, with a large number of small players across the globe. Biomass Pellet Manufacturers operating in the global market are-
- Drax Biomass Inc.
- Enviva Partners
- German Pellets GmBH
- Pinnacle Renewable Energy Inc.
- Abellon CleanEnergy Limited
- International Wood Fuels, LLC
- Helius Energy Ltd.
The major Biomass Pellets market players are focusing on growth strategies such as expansion, acquisitions, joint ventures, new product lines and advanced technological adaptation globally to enhance their market share. The report will include an in-depth qualitative and quantitative assessment of the industry/regional outlook with the presence of market players in the respective segment and region/country.
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Biomass Pellets Market Report Covers Comprehensive Analysis on:
- Market Segmentation and Regional Analysis
- 10 year market size
- Price analysis
- Supply and demand analysis
- Product life cycle analysis
- Porter’s Five Forces and Value Chain Analysis
- Analysis of developed and emerging economies
- PEST analysis
- Factor analysis of the market and forecasts
- Opportunities, risks and market trends
- Conclusion and recommendation
- Regulatory landscape
- Patent Analysis
- Competition Landscape
- More than 15 company profiles
Biomass Pellets Market Regional Analysis Includes:
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA
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Biomass Pellets Market: Target Audience
- Biomass pellet manufacturers
- chemical industries
- Boiler manufacturers
- Renewable energy companies
- Raw material suppliers for biomass companies
- Clean Energy Research Laboratories – Universities and Private Institutions
- Trade publications and magazines
- Government authorities, associations and organizations