Wood Pellets Market Size, Share, Demand, Growth & Trends by 2032

-

 A recently published study by FMI expects the global demand for wood pellets market to increase at a CAGR of 11% during the forecast period between 2022 and 2032, reaching a total of US$ 26.15 Billion in 2032, according to a report from Future Market Insights (FMI). From 2017 to 2021, sales witnessed significant growth, registering a CAGR of 8%.

Wood pellets form a clean, environmentally beneficial, sustainable, and renewable biomass. The increasing global demand for renewable energy is driving the demand for wood pellets to reduce the usage of fossil fuels that contribute to global warming. This is expected to contribute to the growth of the industry over the forecast period.

Consumers in developed regions such as Europe have greater environmental sentience, which continues to account for their increasing reliance on renewable sources. Bio-based energy sources are gathering impetus in developing countries for electricity generation. The reason is attributed to rising energy consumption and favorable government policies.

Get Your 30% Discount Now! Request for Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-11094

A significant reduction in the emission of greenhouse gasses is increasing the consumption of wood pellets in the industrial sector. Continued innovations in combustion technology are to be accredited for the impressive growth of the wood pellets market.

Key Takeaways from the Market Study

  • North America accounts for the revenue of US$ 200 Million in 2022
  • Europe is projected to account for approximately 78% of the global market share
  • Asia Pacific is projected to account for 11% of the market share
  •  Forest and wood waste derived wood pellets to experience highest uptake, flourishing at a 10.4% CAGR until 2032
  • By end use industry, residential applications to account for a revenue of US$ 3.5 Billion in 2022

“The manufacturers are increasing the availability of self-cleaning systems in wood pellet boilers that require minimal user input. Even though these boilers are gaining popularity, they require frequent maintenance in order to have the highest working proficiency.” says an analyst at FMI. 

Market Competition

Key players in the wood pellets market are Enviva Partners LP, Pinnacle Renewable Energy Inc., Wood Pellet Energy (UK) LTD, Andritz AG, Energex, and Georgia Biomass, LLC.

  • The United Kingdom’s energy company Drax Group PLC announced the acquisition of Canada-based wood pellet producer Pinnacle Renewable Energy Inc. in February 2021. With the addition of Pinnacle’s 11 sites, Drax will own 17 pellet plants and development projects.
  • In April 2021, Enviva, a global renewable energy company specializing in sustainable wood bioenergy, and Mitsui OSK Lines (MOL), a leading international marine transport group, signed an MoU agreement to develop and deploy an environmentally friendly bulk carrier.

More Insights Available

FMI, in its new offering, presents an unbiased analysis of the global wood pellets market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of feedstock (Forest and Wood Waste Resources, Agricultural Residue and Waste, Food Waste, Virgin Lumber, Energy Crops), end-use industry (Residential/Commercial Heating, CHP/District Heating, Co-firing) & region.

Table of Content

1. Methodology and Scope

    1.1. Research Methodology

    1.2. Research Scope & Assumptions

    1.3. List of Data Sources

2. Executive Summary

    2.1. Market snapshot

3. Wood Pellets Market Dynamics

    3.1. Market Segmentation

    3.2. Wood pellets – Value chain analysis

    3.3. Raw material trend

to be continued…!

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com

Comments

Post a Comment

Popular posts from this blog

Thionyl Chloride Market Size, Share, Revenue Demand & Growth by 2034

-
Heightening concerns related to water treatment are likely to further fuel its growth engine in the near term. According to the latest report by FMI, the global  thionyl chloride market  is expected to reach a valuation of US$ 829.9 million by 2034. The industry is expected to experience revenue growth at a moderate CAGR of 4.8% during the forecast period. Thionyl chloride is used in various end-use industries such as agrochemicals, pharmaceuticals, dyes & pigments, and organic synthesis. The rising adoption of pesticides in developing countries and developments in the pharmaceutical industry are expected to drive the growth of the thionyl chloride market over the forecast period. However, a majority of end users of thionyl chloride are facing a massive slowdown due to the coronavirus (COVID-19) pandemic. This is substantially widening the supply-demand gap, and, as such, straining the revenue pool of the thionyl chloride market. Further, China – the epicenter of the pandemic – is
Read more

Bonded Magnet Market Size, Share, Revenue Demand & Growth by 2034

-
  The  bonded magnet market size  is projected to be around US$ 2,597.40 million in 2024. The demand for bonded magnets is anticipated to expand at a CAGR of 4.80% through 2034. The industry is projected to surpass US$ 4,150.99 million by 2034. The bonded magnet industry is primarily driven by the increasing demand for miniaturization and lightweight components in various applications such as automotive, consumer electronics, and medical devices. The rising focus on sustainability and environmental concerns has propelled the adoption of bonded magnets, which are manufactured using environmentally friendly processes and materials. One of the latest trends in the bonded magnet industry is the development of hybrid magnet systems combining bonded magnets with other materials like plastics or composites. These hybrid systems offer unique properties and performance characteristics, catering to specific application requirements such as weight reduction or thermal stability. One significa
Read more

Magnesium Carbonate Market Size, Share, Demand, Growth & Trends by 2032

-
Magnesium carbonate is largely utilized as a raw material for the manufacturing of magnesium oxide, a refractory material employed in the cement and steel industries. The global  magnesium carbonate market  is anticipated to expand at a steady  4.7% CAGR  over the forecast period, finds Future Market Insights (FMI) in a recent market analysis. As per FMI, geographically, the market is anticipated to be dominated by South Asia Pacific, which is expected to continue in the forthcoming years. Backed by the aforementioned factors, the global magnesium carbonate market is projected to top  US$ 443.5Mn  by 2032. In recent years, companies are focusing on developing new materials with high purity at competitive prices. Magnesium carbonate, due to its small size, high porosity, and non-toxicity, is adopted in the pharmaceutical industry. Pharmaceutical grade magnesium carbonate is preferred for the treatment of hyperchlorhydria, stomach aches and duodenal ulcers. It is also used in the sur
Read more