Press release
Wood Pellets Market 2021 Projected to Witness Vigorous Expansion by 2027
Wood Pellets Market
However, direct exposure to wood dust, which is generated during the process of manufacturing, can cause severe health issues, including allergic reactions and skin irritations, thereby hampering the growth of the target market. Moreover, lack of awareness related to product in developing nations and price instability due to fluctuations in raw material cost, influenced by weather conditions and changing regulatory norms governing wood cultivation are likely to hamper the growth of market. In addition, high cost of a wood pellet stove acts as a challenge for the wood pellets market growth.
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The global wood pellets market, by region, is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Rise in demand for these pellets in the commercial energy generation industry in economies of Asia Pacific, including China and Japan, is providing a push to the regional market. Wood pellets have several applications in chemical industry, where it is used as a biomass solid fuel. North America market for wood pellets is expected to have substantial revenue share of the global market, owing to establishments of new production plants of the wood pellet by manufacturers. Residential heating is one of the prominent applications of the product. Easy availability of wood pellet fuel feedstock and low cost of production have led to its higher consumption in the industrial sector. Rise in prices of fossil fuels and natural gas further fuels the market growth.
Key benefits of the report
• This study presents the analytical depiction of the global wood pellets market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global wood pellets market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global Wood pellets market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
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COVID-19 scenario analysis
• The COVID-19 (coronavirus) pandemic has forced many companies in the wood pellets market to halt their business operations to meet government regulations of social distancing. These pauses in operations are directly impacting the revenue flow of the wood pellets market.
• The lockdowns have caused delays in power projects due to supply chain disturbances with solar & wind projects, unavailability of manpower, and issues in project financing.
• Global climate change issues have additionally raised awareness of the requirement to scale back the employment of fossil fuels in favor of low-emission power sources.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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