Wood Chips Market expected to witness a significant growth rate of 7.80% by 2029.

According to the latest research report published by Market Data Forecast, the global wood chips market size was valued at US$ 11.73 billion in 2023 and is anticipated to reach US$ 18.41 billion by 2029 and increase at a CAGR of 7.80% between 2024 and 2029.

The Wood chips market has been developing faster with considerable growth rates over the last few years, and it is anticipated to increase significantly during the forecast period, Because of the increasing utilization of renewable energy resources. In addition, the escalating demand for thermal energy generation using renewable and green feedstock materials is expected to help the sector.

Global Wood Chips Market Report Scope:

• Market Size (2029): USD 18.41 Billion
• Market Size (2023): USD 11.73 Billion
• CAGR (2024 to 2029): 7.80%
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: Product Type, Variety Type, Application, and Geography
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled: Cogent Fibre, Enviva Pellets, St. Boniface Pallet, American Wood Resources, EVOWORLD GmbH, Mitsui & Co., Ltd., Oji Holdings, Rentech, Axpo Group, Great Northern Timber, and Others.

Market Drivers:

With the launch of multiple significant projects that will potentially open up new supply markets, the wood chip industry has started to significantly change. Wood chips are used in tiny facilities, often no more than 20 MW, to generate heat and power throughout Europe. Additionally, the market for wood chips is boosted by the growing usage of alternative energy sources like biomass as a result of the depletion of conventional energy sources.

Furthermore, the rising use of the product for home heating solutions, particularly in North America and Europe, is anticipated to fuel market expansion. Growing interest in producing thermal energy from sustainable and renewable feedstocks will probably help the market. Due to their high energy coefficient, wood chips will be able to supply demand for the duration of the prediction.

Additionally, throughout the projected period, the market is anticipated to grow due to the rising demand for goods like garden mulch and other applications like playground surfacing. Over the projection period, demand is anticipated to rise because to the high carbon content of goods based on hardwood.

Market Restraints:

The wood chips market is by the need for certificates about sustainability and the restrictions placed on the greenhouse gas emissions from wood chips when they are used to generate electricity. Furthermore, the market for wood chips may not expand as quickly as anticipated during the projected period due to the increasing use of wood pellets for power generation in the residential and commercial sectors.

Furthermore, price instability brought on by variations in the price of raw materials, weather patterns, and strict regulations controlling the production of wood impedes market expansion. The growth pace of the wood chips market would be challenged by these factors.

Furthermore, wood has a high moisture content by nature-between 40 and 60 percent. The moisture does not evaporate as it chips. As a result, transport expenses go up. The system's performance is further impacted by the high moisture content since the furnace's moisture temperature decreases. As a result, the boilers' pollutant emissions rise.

It is also known that the majority of fuels made from wood come from unlawful timber acquisition. Forest departments do not have clearances for many chipping mills. As such, it is not a viable course of action.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/wood-chips-market

Key Insights from The Report:

• Based on product type, the softwood segment led the market and accounted for the largest share of the global market in 2023.
• Based on variety type, the forest chips segment captured the highest share of the global market in 2023.
• Based on application, the combined heat and power segment occupied the majority of the global market share in 2023.
• Asia-Pacific dominated the wood chips market in 2023. Europe accounted for the second-highest share of the global market in 2023 and on the other hand, the North America region is estimated to grow at the fastest CAGR during the forecast period.

SEGMENTATION INCLUDED IN THIS REPORT:

By Product Type:
• Hardwood
• Softwood
• Manual

By Variety Type:
• Forest chips
• Wood residue chips
• Recycled chips

By Application:
• Household Furnishing
• Combined Heat and Power (CHP)

By Region:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

TABLE OF CONTENTS:

1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods

2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline

3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees

4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends

5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations

6. Market Segmentation
6.1 Wood Chips Market, By Product Type
6.1.1 Hardwood
6.1.2 Softwood
6.1.3 Manual
6.1.4 Market Size Estimations & Forecasts (2024-2029)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Wood Chips Market, By Variety Type
6.2.1 Forest chips
6.2.2 Wood residue chips
6.2.3 Recycled chips
6.2.4 Market Size Estimations & Forecasts (2024-2029)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
6.3 Wood Chips Market, By Application
6.3.1 Household Furnishing
6.3.2 Combined Heat and Power (CHP)
6.3.3 Market Size Estimations & Forecasts (2024-2029)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index

7. Geographical Landscape
7.1 Global Wood Chips Market, by Region
7.2 North America - Market Analysis (2024-2029)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Product Type
7.2.3 By Variety Type
7.2.4 By Application
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Product Type
7.3.3 By Variety Type
7.3.4 By Application
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Product Type
7.4.3 By Variety Type
7.4.4 By Application
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Product Type
7.5.3 By Variety Type
7.5.4 By Application
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Product Type
7.6.3 By Variety Type
7.6.4 By Application

8. Key Player Analysis
8.1 Cogent Fibre
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Enviva Pellets
8.3 St. Boniface Pallet
8.4 American Wood Resources
8.5 EVOWORLD GmbH
8.6 Mitsui & Co., Ltd.
8.7 Oji Holdings
8.8 Rentech
8.9 Axpo Group
8.10 Great Northern Timber

9. Market Outlook & Investment Opportunities

10. Appendix
List of Tables
List of Figures

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