Biomass Solid Fuel Market to Hit $603.69 Billion by 2032 | Svenska Cellulosa Aktiebolaget SCA, BTG Biomass Technology Group, Eni S.p.A., Fulcrum BioEnergy

The biomass solid fuel industry has witnessed robust expansion, driven by stringent carbon emission targets and surging demand for renewable energy solutions across power and heating sectors. In 2024, global pellet production exceeded 110 million tons, reflecting a 13% year-on-year increase, which underscores significant business growth and evolving industry trends. This analysis, based on extensive market research, delivers comprehensive market insights, including market size metrics, market forecast projections, and an in-depth market analysis of regional dynamics. It also outlines market drivers, market restraints, and strategic market opportunities, empowering stakeholders to navigate market challenges effectively. Recent investments surpassed USD 10 billion in 2024, reflecting heightened investor confidence and reinforcing the market scope for next-generation biomass technologies.

Market Size and Overview-

The Global Biomass Solid Fuel Market size is estimated to be valued at USD 315.77 Bn in 2025 and is expected to reach USD 603.69 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 9.7% from 2025 to 2032.

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Key Takeaways:

• Region:
- North America: mature pellet infrastructure and 2024 export growth to Europe.
- Latin America: agro-residue pellet projects in Brazil boosting rural energy.
- Europe: 15% consumption growth in 2024 under tightened renewable policies.
- Asia Pacific: 18% pellet demand surge in 2024 led by China's subsidies.
- Middle East: UAE and Saudi pilot co-firing projects exploring circular energy.
- Africa: South Africa's off-take agreements scaled up industrial boiler use.

• Segment Covers:

- Product Type: Pellets and Briquettes; pellets dominate large-scale heat generation, briquettes serve niche industrial boilers.
- Application: Power Generation and Heating; power segment rose by 22% in 2025 due to co-firing mandates.
- Feedstock: Woody Biomass and Non-Woody Residues; wood chips in utility plants, agricultural stalks in local heating.

Growth Factors:

• Europe's biomass co-firing jumped by 25% in 2024, reinforcing key market drivers.
• China's 10% Q4 2024 subsidy hike for rural pellet boilers accelerated market growth strategies.
• North America's sustainable forestry boosted pellet feedstock yield by 12% in 2025.
• Global oil price spikes of 30% in H1 2024 shifted utilities to biomass, fueling market growth.
• Automated pellet mills reduced production costs by 8% in 2024, driving adoption.
• Corporate off-take agreements climbed 18% in 2024, highlighting expanding market opportunities.

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Market Trends:
According to the latest Biomass Solid Fuel Market report, key industry trends include:

• 20% rise in torrefaction uptake across Europe in 2024, enhancing energy density.
• 30% of global mills adopted digital monitoring in 2025, improving quality control.
• District heating integration grew 15% in Scandinavia, aligning with decarbonization goals.
• Carbon credit monetization reached USD 50 million in 2024, unlocking new revenue streams.
• Co-pelletization with agro-residues accounted for 12% of new Asia Pacific capacity.
• Mobile briquetting units expanded 25% in Latin America by 2025, addressing decentralized demand.

Actionable Insights:

• Global production capacity reached 115 million tons in 2024.
• Global market revenue reached USD 340 Bn in 2024, marking a 12% YoY rise.
• Average FOB pricing stabilized at USD 210 per ton in 2025.
• Exports grew 12% YoY, led by US-to-EU shipments in 2024.
• EU imports climbed 10% in 2025, driven by co-firing mandates.
• Asia Pacific consumption surged 18% in 2024 for district heating.
• Industrial power generation accounted for 62% of demand in 2025.
• Small-scale pellet installations rose 20% in 2024, highlighting nano-market growth.
• Market scope spans rural heating to large-scale co-firing plants, underlining market dynamics.

Key Players:

• Svenska Cellulosa Aktiebolaget SCA
• BTG Biomass Technology Group
• Enviva Partners LP
• Drax Group
• Pacific BioEnergy Corporation
• Diacarbon Energy
• Stora Enso
• UPM-Kymmene
• Canfor Pulp
• Pinnacle Renewable Energy
• Rayonier Advanced Materials
• Viridis Energy
• Green Resources AS
• Vapo Oy
• AstenJohnson

Competitive Strategies:

Svenska Cellulosa Aktiebolaget SCA expanded its torrefaction facility in 2024, increasing high-energy pellet output by 25% and boosting Biomass Solid Fuel Market share in Western Europe. Drax Group invested USD 150 million in digital supply chain analytics in 2024, cutting logistics costs by 15% and enhancing profitability. Enviva Partners LP secured long-term offtake agreements with Japanese utilities, lifting export volumes by 18% in H1 2025. BTG Biomass Technology Group launched modular briquetting lines in South America in 2024, reducing capital expenditure by 20% and enabling entry into new market segments. These market companies collectively represent over 50% of global capacity.

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FAQs:

Q1: Who are the dominant players in the Biomass Solid Fuel Market?
A1: Major market players include Svenska Cellulosa Aktiebolaget SCA, BTG Biomass Technology Group, Enviva Partners LP and Drax Group, which together held over 35% market share in 2024.

Q2: What will be the size of the Biomass Solid Fuel Market in the coming years?
A2: The Biomass Solid Fuel Market size is forecast to grow from USD 315.77 Bn in 2025 to USD 603.69 Bn by 2032 at a 9.7% CAGR.

Q3: Which end‐user industry has the largest growth opportunity?
A3: Power generation leads end-user segments, accounting for 62% of total demand in 2025, with co-firing and dedicated biomass projects driving business growth.

Q4: How will market development trends evolve over the next five years?
A4: Expect increased torrefaction adoption, digital monitoring, hybrid fuel co-pelletization and carbon credit monetization, defining Biomass Solid Fuel Market trends and expanding market opportunities in key regions.

Q5: What is the nature of the competitive landscape and challenges in the Biomass Solid Fuel Market?
A5: Intense rivalry among market companies drives technology-led cost cuts, but market restraints such as feedstock variability and supply chain disruptions persisted through 2024.

Q6: What go-to-market strategies are commonly adopted in the Biomass Solid Fuel Market?
A6: Typical strategies include securing long-term offtake agreements, vertical integration of production, investment in supply chain analytics to optimize pricing and maximize market revenue.

✍️ Author of this marketing PR:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.

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