Press release
Industrial Wood Pellet Market 2022- Industry Analysis, By Key Vendors, Segmentation, Growth Factor And Forecast Till 2029
Industrial Wood Pellet Market 2022-2029
New study report" Industrial Wood Pellet Market 2022 Market Opportunities, Challenges, Strategies, and Forecasts 2029″ has been added to Fortune Business Insights.
Market Overview:
At the beginning of a recently published report on the Industrial Wood Pellet Market 2022-2029, extensive analysis of the industry has been done with an insightful explanation. The overview has explained the potential of the market and the role of key players that have been portrayed in the information that revealed the applications and manufacturing technology required for the growth of the Industrial Wood Pellet market.
The market size was USD 5.54 billion in 2022 and is anticipated to reach USD 7.69 billion by 2029, exhibiting a CAGR of 8.56% during the forecast period.
Various segments of the market have been divided into different divisions. They have been depicted maximum share and profit maximization of the market during the forecasting period of 2022 to 2029. This is mentioned in the report too. Depending on the information, it has been recognized with different data and figures offered by the analysis of the overall understanding of the market place and value. Various distinctive features involve the market's knowledge based on the factors like the demographic changes, market dimensions, historical details, and market overviews. The research is also included in the strategic movements that are undertaken by the top-notch markets. Moreover, these key players affect the market growth and the profit rate of the overall market. In this report, the internal dimensions and assessments of the Industrial Wood Pellet market are revealed. The study of the Industrial Wood Pellet market's description has been taking place during the 2022 period and the last year of the foreseen period that extends to 2029.
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List of Key Players Covered in the Industrial Wood Pellet Market Report:
Drax Group
Enviva
Pinnacle Renewable Energy Group
The Westervelt Company
Fram Renewables Fuels LLC
AS Graanul Invest
Bluesky Biomass Georgia
Thunderbolt Biomass Inc.
Energex Pellet Fuel, Inc.
An Viet Phat Group
COVID-19 Impact:
Widespread Shutdowns to Adversely Affect the Energy Sector amid COVID-19
COVID-19 has been a leading disruptor of the global market for energy in 2020. Several businesses stumbled upon the outbreak due to widespread lockdowns and production shutdowns. In May 2020, the future value of crude oil reached the zero mark. Leading industry players are working closely with governments to strategize their way out of the crisis. At Fortune Business Insights, our team of experts is closely analyzing the current situation to help you resolve the latest issues.
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Drivers & Restraints:
Rising Concerns Regarding Increasing Carbon Emissions to Drive Growth
As per a report published by Statista on global climate change, in 2019, the earth's surface temperature was nearly 0.95 °C warmer than the total average temperature of the 20th century. Rising concerns regarding the increasing carbon emission are estimated to drive the industrial wood pellet market growth. In addition, the increasing demand for these pellets from various end-user industries is projected to further enhance their growth. However, stringent sustainability certification criteria from governments may hinder the demand.
Market Segmentation:
Forest Waste Segment to Dominate the Market
Based on the feedstock, the forest waste segment is estimated to dominate the Industrial Wood Pellet Market with a share of 92.1% in 2019 as by-products from actively managed forests are the primary source of producing industrial wood pellets. A large portion of these by-products comes from traditional forestry operations such as sawmills and finished wood products manufacturing.
Regional Insights:
High Consumption of Pellet-based Energy to Help Europe Dominate
Europe is projected to dominate the global industrial wood pellet market with a value of USD 2.76 billion in 2019. The highest consumption of pellet-based energy at nearly 8 million tonnes in the U.K. is a major factor driving the growth of wood pellets in the region. In addition, the high demand from large-scale power plants in countries including the U.K., Belgium, and the Netherlands is anticipated to strengthen the demand in the region.
The Industrial Wood Pellet Market in Asia Pacific is estimated to flourish in the forecast timeline. This region is expected to hold a considerable industrial wood pellet market share in the foreseeable years. The rapidly increasing demand for wood pellets from China, South Korea, and Japan is the major factor driving their growth in the region.
Key Industry Development:
In October 2018, Pinnacle Renewable Holdings Inc. announced that it had completed the acquisition of a 70% share in an industrial wood pellet production facility located in Aliceville, Alabama from the Westervelt Company.
In December 2019, Enviva LP, one of the largest producers of wood pellets, received the approval of a permit for the construction of a wood pellet facility in Sumter County. The permit was approved by the Alabama Department of Environmental Management (ADEM).
Major Table of Content:
Introduction
Executive Summary
Market Dynamics
Key Insights
Industrial Wood Pellet Market Analysis, Insights and Forecast, 2022-2029
North America Industrial Wood Pellet Market Analysis, Insights and Forecast, 2022-2029
Europe Industrial Wood Pellet Market Analysis, Insights and Forecast, 2022-2029
Asia Pacific Industrial Wood Pellet Market Analysis, Insights and Forecast, 2022-2029
Middle East and Africa Industrial Wood Pellet Market Analysis, Insights and Forecast, 2022-2029
Latin America Industrial Wood Pellet Market Analysis, Insights and Forecast, 2022-2029
Market Share Analysis, By Key Players, 2022
Competition Matrix
Company Profile
Continue….
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𝐂𝐨𝐧𝐭𝐚𝐜𝐭:
Name: Ashwin Arora
Email: sales@fortunebusinessinsights.com
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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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