Biomass Pellets Market is Projected to Expand at a 10.23% CAGR from 2019-2026
The global biomass pellets market is expected to grow from USD 8,103 million in 2019 to USD 16,023 million by 2026, registering a CAGR of 10.23% from 2019 to 2026.
In general, any material can be made into biomass pellets as long as it burns. The traditional materials for fuel pellets are wood chips, wood chips, sawdust or branches of sawmills, bark, leaves and other forestry residues. Such particles are referred to as wood particles.
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Key Players:
Key players in the market cover EU Pellets, Enviva, Sinopeak, Pacific BioEnergy, Pinnacle, Suzano, Organic Green Solutions, Biomass Secure Power, Drax Biomass, RWE Innogy Cogen, Enova Energy, Aoke Ruifeng, Green Circle, BlueFire Renewables, Zilkha Biomass Energy, The Westervelt, BTH Quitman Hickory, Lignetics, Resolute Forest, AgroPellets, Brasil Biomassa, Energex Corporation, Forest Energy Corporation, Helius Energy, New England Wood Pellet, Woodstone, Forth Energy, International WoodFuels, MGT Power, and etc.
Type Segment Analysis
l Straw
l Peanut shell
l Corncob
l Woodiness
l Others
Application Segment Analysis
l Industrial Applications
l Residential Applications
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Market Driver and Restraint
The increasing use of biomass pellets in power industry is propelling the growth of the global biomass pellet market. Moreover, the growing demand for the renewable energy source is one of the important factors, which is also projected to stimulate this market’s growth. Additionally, the increased government initiatives and stringent environmental regulations are the key drivers promoting the growth of the global biomass pellet market. However, the raw materials and the extraction process are expensive. This could restrain the growth of the biomass pellets market over the years.
Forecast by Geography
In terms of geography, the biomass pellets market has been categorized into Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. In 2018, the global biomass pellets market was mainly concentrated in the three regions of Asia-Pacific, North America and Europe, with the market share of 34.76%, 23.81% and 18.19% respectively, accounting for a total of 76.76%. The Asia-Pacific region is the largest supplier of biomass pellets, with annual production value nearly USD 2,555 million in 2018.
l Base Year: 2018
l Estimated Year: 2019
l Forecast Period: 2019 to 2026
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Target Audience:
Biomass pellets manufacturers
Raw material suppliers of biomass pellets
Distributors and resellers of biomass pellets
Biomass pellets industry associations
Market Research and consulting firms
Government agencies and NGOs
Small and Medium-sized Enterprises (SMEs)
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