Biomass Pellets Market size See Incredible Growth during 2030

Description

The global biomass pellets market size was predicted to grow from USD 15.74 billion in 2020 and reach USD 29.76 billion by 2027, at an 11.7% CAGR during the forecast period, 2021-2027. The rising demand from end-use industries is projected to drive the market over the forecast period. Consumption by the heating and power generation sectors will be especially prominent, exhibiting the CAGRs of 8.7% and 12.4%, respectively, over the forecast period. Furthermore, wood sawdust is gaining traction among manufacturers as a raw material for biomass pellets production.

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Key Influencers Associated with Biomass Pellets Market over Forecast Period:

The growing use of biomass pellets as a preferred fuel for co-firing the coal-based boilers is projected to significantly increase the demand for biomass pellets over the forecast period.

Industrial efforts to reduce carbon emissions and curtail the overall costs of raw materials are expected to promote clean, low-cost biomass pellets, leading to further growth of the market. Moreover, the surplus availability of biomass feedstock and capacity to meet soaring demand will most likely propel the market expansion over the forecast period.

Governments have been enforcing stringent regulatory policies to promote the utilization of renewable fuels. Moreover, myriads of subsidies and incentives declared by governments and other institutions further aid in proliferated use of renewable sources. This shift towards renewable fuels to achieve sustainability is likely to support the growth of the biomass pellets market over the forecast period.

Active participation of major players in the biomass market and end-use industries across the globe in the international trading of biomass pellets is likely to result in a promising growth outlook.

Impact of COVID-19 on Biomass Pellets Market:

The outbreak of COVID-19 has significantly affected the market, resulting in a decrease in overall demand. The economic slowdown and temporary shutdown of manufacturing bases have caused a significant decline in most end-use industries, which is expected to negatively affect the biomass pellets market in the initial years of the forecast period. The supply chain has faced relatively less disruption amid the pandemic when compared to that faced by other industrial sectors, which is a supporting factor for the biomass pellets market.

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Scope of the Report

The report outlines the global biomass pellets market study based on source, application, type, and end-use industry.

Based on the source, the biomass pellets market has been segmented into –

• Agricultural Residue
• Wood Sawdust
• Others

Based on the application, the biomass pellets market has been segmented into –

• Feed
• Civil Fuels
• Industrial Fuel
• Others

Based on the type, the biomass pellets market has been segmented into –

• Wood Pellets
• Fuel Pellets

Based on the end-use industry, the biomass pellets market has been segmented into –

• Power Generation
• Industrial Heating
• Commercial & Domestic Heating
• Others

Biomass Pellets Market: Regional Outlook

The biomass pellets market has been segmented into the Asia Pacific, Europe, North America, the Middle East, and Africa. In 2020, Europe dominated the global market on account of stringent regulations promoting renewable fuel utilization. However, North America and the Asia Pacific are expected to grow at comparatively higher rates than the European market. The Asia Pacific, especially the east Asian nations like China and Japan, will showcase a lucrative growth potential over the forecast period. This growth is attributable to the rapid industrial development that these countries have been witnessing recently.

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Key Global Biomass Pellets Market Competitors Includes –

The global biomass pellets market is highly fragmented, with a large number of small players across the globe. The biomass pellets manufacturers operating in the global market are –

• Drax Biomass Inc.
• Enviva Partners
• German Pellets GmBH
• Pinnacle Renewable Energy Inc.
• Abellon CleanEnergy Limited
• Energex
• Internation WoodFuels, LLC
• Helius Energy Ltd.

The key players in the biomass pellets market are focusing on growth strategies such as expansion, acquisitions, joint ventures, new product lines, and advance technology adaption on a global level to enhance their market share. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players’ presence in the respective segment and region/country.

Biomass Pellets Market Report Covers Comprehensive Analysis On:

• Market Segmentation & Regional Analysis
• Market Size of 10 years
• Pricing Analysis
• Supply & Demand Analysis
• Product Life Cycle Analysis
• Porter's Five Forces & Value Chain Analysis
• Developed & Emerging Economies Analysis
• PEST Analysis
• Market and Forecast Factor Analysis
• Market Opportunities, Risks, & Trends
• Conclusion & Recommendation
• Regulatory Landscape
• Patent Analysis
• Competition Landscape
• 15+ Company Profiles

Biomass Pellets Market Regional Analysis Includes:

• North America (US, 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, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA

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Biomass Pellets Market: Target Audience

• Biomass pellets manufacturers
• Chemical Industries
• Boiler manufacturers
• Renewable energy companies
• Raw material suppliers for biomass companies
• Clean energy research labs – Universities and private institutions
• Trade publications and magazines
• Government authorities, associations, and organizations

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