Global Wood Chips Market to Grow from USD 8.92 Billion in 2024 to USD 19.54 Billion by 2032 at ~10.3% CAGR - Wood Chips Market Forecast

According to a report by Maximize Market Research, the global Wood Chips Market was valued at USD 8.92 billion in 2024 and is projected to reach approximately USD 19.54 billion by 2032, growing at a compound annual growth rate (CAGR) of about 10.3% from 2025 to 2032. Key growth drivers include the expansion of biomass-based power generation, increased pulp & paper production using wood chips, and rising applications in mulching, landscaping and animal bedding.

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Key Highlights
Market Size & CAGR: USD 8.92 billion in 2024; projected to reach USD 19.54 billion by 2032; CAGR ~10.3%.

Leading Wood Type Segment: Softwood chips are dominant, driven by broader availability and cost-effectiveness.

Major Applications: Key uses include bioenergy & biomass power plants, pulp & paper industry, mulching & landscaping, animal bedding and wood pellets/briquettes.

Regional Growth: Asia-Pacific is expected to show significant growth and hold a large share of the market due to strong biomass project pipelines and increasing consumption in countries like China, India and Japan.

Key Drivers & Trends: Growth in renewable energy needs (especially biomass), strict environmental regulations promoting green feedstocks, rising pulp & paper demand, and increased landscaping/animal bedding uses. Restraints include need for sustainability certifications, availability of raw materials, and competition from alternative fuels like wood pellets.

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Market Outlook
Segmentation by Type & Source
The market is segmented by Wood Type (Softwood chips vs. Hardwood chips) where softwood is likely to hold the largest share owing to resource availability. By Source, the market includes sawmill residues, forest residues, short-rotation coppice (SRC), and whole tree chips. These sources are gaining attention especially for bioenergy applications.

Application & End-Use Dynamics
Bioenergy & Biomass Power Plants: The largest and fastest-growing application area, as wood chips serve as feedstock for biomass electricity/heat generation.

Pulp & Paper: Wood chips are essential raw material in pulp production and increasingly so in emerging economies.

Mulching & Landscaping / Animal Bedding / Other Uses: These secondary applications add incremental growth, especially in regions with developed forestry and garden-landscaping markets.

Growth is supported by the shift toward renewable energy, increasing infrastructure for biomass plants (especially in Asia-Pacific), and growing landscaping/animal-care markets. The need for certified sustainable sourcing (FSC, PEFC) and efficient logistics are becoming increasingly important considerations.

Regional Insights
Asia-Pacific: Positioned to lead growth. Governments in Japan, India, Vietnam and other Southeast Asian countries are promoting biomass and forestry residues for energy and industrial uses.

North America & Europe: These regions have mature biomass/wood-chip utilisation systems (especially in heating, pulp & paper). Growth will be steady, driven by sustainability policies, though raw-material supply and cost pressures may moderate growth.

Other Regions (South America, Middle East & Africa): These present emerging opportunities, especially where forestry residues or agro-forestry can be channelled into wood chip production. Challenges include infrastructure, certification and supply-chain maturity.

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Quote
"Wood chips are becoming an increasingly critical feedstock in the transition toward renewable biomass energy and sustainable pulp manufacturing," said a senior analyst at Maximize Market Research. "With a projected CAGR of roughly 10.3% to 2032, producers and suppliers that can ensure sustainable sourcing, efficient logistics and responsiveness to emerging biomass mandates will capture significant growth."

◉About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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This release was published on openPR.