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Wood Fuel Pellets Market Size 2021 Global Industry Overview, Share, Trends, Growth Factors, Historical Analysis, Opportunities and Industry Segments Poised for Rapid Growth by 2027
The “Wood Fuel Pellets Market” investigate report included by MarketIntelligenceData is an in-depth examination of the most recent patterns, market estimate, status, up and coming innovations, industry drivers, challenges, administrative arrangements, with key company profiles and procedures of players. The research consider gives market presentation Wood Fuel Pellets definition, territorial market scope, deals and income by locale, fabricating fetched examination, Mechanical Chain, market impact variables investigation Wood Fuel Pellets Market size estimate, 100+ showcase information, Tables, Pie Chart, Charts and Figures, and numerous more for trade insights. This investigates report too gives post COVID-19 affect investigation of the Wood Fuel Pellets industry.The Wood Fuel Pellets Market put is appearing unfaltering increase and making at a CAGR of 17.9% at a threatened point of 2021-2027.
Market Overview
Due to the COVID-19 pandemic, the market witnessed reduced demand and shortages of raw materials. However, Asia significantly had a low impact due to the already existing oversupply and suppressed consumption. The primary drivers for the market include increasing demand for wood pellets in clean energy generation, especially in the European region. However, the adoption and increasing deployment of alternative renewable energy sources such as solar photovoltaic, wind energy, and geothermal in various parts of the world is likely to hinder the market growth during the forecast period.
The heating application held a significant market share in 2020, and it is likely to dominate the market during the forecast period.
As per the World Bioenergy Association, wood pellets have the potential for replacing coal in power generation facilities. With technology development in recent years, wood pellets have undergone some thermal upgrading through various processes like torrefaction, hydrothermal carbonization, and steam explosion. The thermal upgrading enables wood pellets to act as a fuel with coal properties. The Asia-Pacific region with the highest number of coal power plants in the world is expected to be an opportunity for the market to grow in the near future.
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Top Companies in the Global Wood Fuel Pellets Market:
Enviva,Pinnacle,Vyborgskaya Cellulose,Rentech,Innogy,Graanul Invest Group,Zilkha Biomass Energy,Canfor,General Biofuels,Pacific BioEnergy,Protocol Energy,PFEIFER,Biomass Secure Power,Viridis Energy,Westervelt,BTH Quitman Hickory,Energex,Lignetics,Equustock,Fram Renewable Fuels,RusForest,Neova,Drax Biomass International,Enova Energy Group,Aoke Ruifeng,DEVOTION,Dalin Biological,Senon Renewable Energy,Xirui New Energy,Weige Bio-tech Energy
Recent Developments
United Kingdom's energy company Drax Group PLC announced the acquisition of Canada-based wood pellet producer Pinnacle Renewable Energy Inc. in February 2021, officially completed in April 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.
In December 2020, Enviva, a leading global energy company (specialized in sustainable wood bioenergy), and GoChain (a blockchain company), announced the initial results of a pilot program designed to enhance the traceability of sustainable biomass.
The Wood Fuel Pellets Market is segmented based on:
On the basis of type:
White Pellet
Black Pellet
On the basis of application:
Power Generation
Industrial Furnace
Civil Use
The research study assesses the by and a large measure of the market, by making utilize of a bottom-up approach, wherein information for diverse industry verticals, and end-user businesses and their applications over different item sorts have been recorded and anticipated amid the estimated period. These fragments and sub-segments have been recorded from the industry pros and experts, as well as company agents, and are ostensibly approved by dissecting past year’s information of these fragments and sub-segments for getting an exact and total Wood Fuel Pellets market size.
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Regional Analysis:
In Europe, EU countries are a significant producer as well as consumer of wood pellets. The EU currently has approximately 25 million metric tons of wood pellet production in place, with capacity use at 74 %. As of 2019, the EU has registered a modest 5% increase in production.
Europe’s demand for wood pellet is expected to increase by 30-40% between 2021 to 2026. Europe represents more than 50% of global pellet demand. As of 2020, European nations’ use of pellets includes residential heating (40%), power plants (36%), commercial heating (14%), and combined heat and power plants (10%). Moreover, pellets have also made their way into coal conversion projects in local authority or public administration buildings such as schools and offices.
As of 2020, most of the co-firing power stations have either closed or converted since these early projects, with several making a move to 100% wood pellets for fuel. The largest of these is Drax Power Station in North Yorkshire, which has converted four of its six 65 MWe generating units to run exclusively on biomass and is currently evaluating options for its remaining two coal-fired units.
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Table of Contents Wood Fuel Pellets Market
- Chapter 1: Overview of Wood Fuel Pellets Market
- Chapter 2: Global Market Status and Forecast by Regions
- Chapter 3: Global Market Status and Forecast by Types
- Chapter 4: Global Market Status and Forecast by Downstream Industry
- Chapter 5: Market Driving Factor Analysis
- Chapter 6: Market Competition Status by Major Manufacturers
- Chapter 7: Major Manufacturers Introduction and Market Data
- Chapter 8: Upstream and Downstream Market Analysis
- Chapter 9: Cost and Gross Margin Analysis
- Chapter 10: Marketing Status Analysis
- Chapter 11: Market Report Conclusion
- Chapter 12: Research Methodology and Reference.
Reasons to Invest:
Market Size Forecasts: The authors of the report have provided accurate estimation of the global Wood Fuel Pellets market size based on value and volume
Market Trend Analysis: This section of the report throws light on the approaching trends and developments in the global Wood Fuel Pellets market
Future Prospects: The report here offers crucial information on the rewarding opportunities in the global Wood Fuel Pellets market
Customization Available: Global Wood Fuel Pellets Market
The Global Wood Fuel Pellets Market report may be altered to meet your particular commerce needs. since we recognize what our clients need, we offer 25% customization for any of our Market Intelligence Data reports at no additional esteem to all of our clients.
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