Industrial Wood Pellet Market Worth to Outgrow by USD 10015.28 million By 2027
Posted On July 29, 2021
According to the research report by Value Market Research, the Global Industrial Wood Pellet Market is likely to grow to USD 10015.28 million by 2027 with a CAGR of 8.25% during the year 2021-2027. The key factors driving the industrial wood pellet market during the forecast period are growing environmental concerns and surge in demand for clean energy sources. The industrial wood pellet market is expected to witness considerable growth owing to growing demand for these pellets in numerous end-use industries. Other factors contributing to its growth are continuously increasing fossil fuel prices, low production cost of wood pellets and technological advancements made in this field. Furthermost, the rapid depletion of fuels such as crude oil and coal is also anticipated to boost the demand for wood pellets significantly. On the other hand, factors like limited availability of sawmill residue and strict sustainability certification criteria set by the government and the impact of Covid-19 pandemic may restrict the growth of industrial wood pellet in the near future.
Industrial wood pellet is a type of portable and solid fuel produced from compressed sawdust and other such industrial waste product obtained from manufacturing of furniture and wood products, milling of lumbar and construction. The diameter of these pellets is usually 6, 8, 10 and 12 mmm and the length ranges between 1-2 cm. Since, it is extremely dense and has low humidity content of less than 10%, it is high in combustion efficiency. Available in uniform sizes, the pellets are most commonly used in power plants for generating electricity. It is also utilized in numerous applications which include co-firing, biomass-dedicated energy plants, public and private heating on an industrial scale and combined heat and power (CHP) plants. This renewable and efficient source of energy is affordable and causes less pollution.
"Global Industrial Wood Pellet Market Report By Application (Power Generation, Combine Heat & Power (CHP), By Feedstock (Forest Waste, Agriculture Waste, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" is an elaborate report providing market data on the basis of segments and geography.
On the basis of application the market is segmented into Power Generation, Combine Heat & Power (CHP). By feedstock the industrial wood pellet market is categorised as Forest Waste, Agriculture Waste, Others. By geography the report is bifurcated into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Industrial Wood Pellet is the dominating region. The data tables in this section depict the market estimate by market segment.
The Report Segments Global Industrial Wood Pellet Market -
- Power Generation
- Combine Heat & Power (CHP)
- Forest Waste
- Agriculture Waste
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Players Profiled In the Report:
Drax Group (U.K), Pinnacle Renewable Energy Group, Fram Renewables Fuels LLC, Thunderbolt Biomass Inc., Bluesky Biomass, An Viet Phat Group, Enviva, The Westervelt Company, AS Graanul Invest, An Viet Phat Group, and Others.
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