Wood Chips Market to Witness Significant Boost Due to Rising Demand In 2030

Market Overview:

Global Wood Chips Market size was valued at USD 7.88 Billion in 2021 and is projected to reach USD 13.16 Billion by 2028, growing at a CAGR of 7.6% from 2022 to 2028.

Woodchips are produced by cutting or chipping small to medium-sized pieces of wood, including branches, trees, stumps, and forestry debris. These woodchips serve as the raw material for wood pulp production and can also be used as biomass solid fuel. They have various applications, such as being utilized as a substrate for mushroom growth, organic mulch for landscaping and gardening, and for ecosystem restoration purposes. The process of creating woodchips, known as wood chipping, involves the use of a wood chipper. The type of chipper used and the material being chipped determine the specific characteristics of the resulting woodchips.

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•Patent Analysis
•Regulatory Framework
•Technology Roadmap
•BCG Matrix
•Heat Map Analysis
•Price Trend Analysis
•Investment Analysis
•Company Profiling and Competitive Positioning
•Industry Value Chain Analysis
•Market Dynamics and Factors
•Porter's Five Forces Analysis
•Pestle Analysis
•SWOT Analysis

Top Key Players Covered In Wood Chips Market

•St. Boniface Pallet
•American Wood Resources
•Axpo Group
•Great Northern Timber
•EVOWORLD GmbH
•Mitsui & Co., Ltd.
•Cogent Fibre
•Enviva Pellets
•Oji Holdings
•Orsted A/S
•Sojitz Corporation
•Verdo A/S and other major players.

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Market Dynamics:

Driver:

The growing demand for wood chips is primarily driven by the increasing needs of the pulp industry. Wood chips serve as a crucial raw material for pulp production, which is in high demand. Additionally, the rising emphasis on renewable energy sources has contributed to the expansion of the wood chips market. As traditional energy sources become depleted, the utilization of biomass and other renewable energy sources has gained momentum, creating a greater demand for wood chips. Moreover, the pulp industry's requirement for wood chips as a key input for pulp manufacturing has further fueled the market growth.

Opportunities:

Wood chip boilers are a prominent technology in the small-scale biomass boiler market, with a significant number of units being sold in Europe each year, and this number is projected to increase in the future. However, the fuel feeding methods employed in these boilers have been identified as a major weakness, leading to frequent plant shutdowns, increased emissions, and reduced efficiency. The current feeding systems primarily rely on bottom discharge, which comes with drawbacks such as the need for large constructions, accelerated equipment wear and tear.

Segmentation Analysis Of Wood Chips Market

By Product Type, the softwood segment is anticipated to dominate the wood chips market over the forecast period. The segment is anticipated to grow throughout the predicted period because of increased demand for items like garden pulp and other uses like playground surfaces. Throughout the projection period, demand is anticipated to increase due to the high carbon content of hardwood goods.

By Raw materials, forest chips are expected to hold the maximum market share over the forecast period. Log chips made from stem wood make up forest chips. Chips are made entirely from the biomass found above ground in a tree. chipping up leftover wood from branches, rubbish, etc.

By Application, the combined Heat and Power segment is expected to grow at a faster pace during the forecast period. During the projected period, demand for the product as a fuel in combined heat and power applications is anticipated to soar.

By Product Type

•Softwood
•Hardwood
•Others

By Raw Material

•Forest Chips
•Wood Residue Chips
•Sawing Residue Chips
•Short Rotation Coppice Chips

By Application

•Combined Heat and Power
•Residential and Commercial Heating
•Playground Surfacing
•Pulp Manufacturing
•Mulch
•Others

Regional Analysis Of Wood Chips Market

Asia Pacific economies, notably China and Japan, are experiencing an increase in demand for these chips in the commercial energy generation sector, which is boosting the regional market. The inclusion of precondition constraints in the Renewable Energy Directive 2 (RED 2) and the existence of GHG emission criteria in developing nations together are likely to promote market expansion. Additionally, Japan's Feed-In Tariff program, which offers incentives for the use of biomass, is assisting the industry's expansion in APAC. In addition, the countries in the region are increasingly using wood chips for household heating. The Feed-in-Tariff subsidy program is helping Japan create a sizable pipeline of biomass projects. Japan, which exports a significant amount of wood chips for pulp and paper, is anticipated to increase the number of wood chips it uses for domestic energy production.

•North America
o US
o Canada
o Mexico

•Eastern Europe
o Bulgaria
o The Czech Republic
o Hungary
o Poland
o Romania
o Rest of Eastern Europe

•Western Europe
o Germany
o UK
o France
o Netherlands
o Italy
o Russia
o Spain
o Rest of Western Europe

•Asia Pacific
o China
o India
o Japan
o South Korea
o Malaysia
o Thailand
o Vietnam
o The Philippines
o Australia
o New Zealand
o Rest of APAC

•Middle East & Africa
o Turkey
o Bahrain
o Kuwait
o Saudi Arabia
o Qatar
o UAE
o Israel
o South Africa

•South America
o Brazil
o Argentina
o Rest of SA

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Key Industry Development In The Wood Chips Market

In August 2021, the 7.5MW wood-fired biomass Godo Biomass Power Plant, which is slated to begin operations in March 2023, is being built, according to a report from Marubeni Corporation, a joint venture business between Chubu Electric Power Co., Inc. and Marubeni. The majority of the wood waste produced in Gifu Prefecture would be used to fuel this power plant.

The report provides insights on the following pointers:

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3.Market Diversification: Details regarding new product launches, untapped geographies, recent developments, and investments are provided.

4.Competitive Landscape: Provides an in-depth analysis of the top companies' market shares, strategies, products, certification, regulatory approvals, patent landscape, and production capabilities.

5. Industry Dynamics and Factors: Offers insightful information about future technologies, R&D initiatives, and game-changing product breakthroughs.

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The report covers exhaustive analysis on:

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•Based on extensive primary and secondary research this report provides comprehensive and granular data

•Key technological advancements and market trends that shape the market

•Brand dynamics and distribution trends in order to effectively plan strategies in the forecast period 2022-2028

•Key companies operating in this market and their market share

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