DUBAI, United Arab Emirates, Jan. 17, 2022 (GLOBE NEWSWIRE) -- The global biomass pellets market is projected to witness growth at a CAGR of 6.8% during the forecast period 2022-2029. Increasing demand for wood biomass pellets is the major factor accelerating the growth in the Biomass Pellets Market.
| Attribute | Details | |
| Biomass Pellets Market Size in 2021 | US$ 10.63 Bn | |
| Biomass Pellets Market Size in 2022 | US$ 11.36 Bn | |
| Biomass Pellets Market Size in 2029 | US$ 17.94 Bn | |
| Biomass Pellets Historical CAGR (2014-2021) | 6.3% | |
| Biomass Pellets Value-based CAGR (2022-2029) | 6.8% | |
As per the findings of the report, the global biomass pellets market is projected to experience significant growth over the forecast period, because of multiple driving factors such as increasing utilization of biomass pellets in coal-fired boilers in industries, and also in commercial and domestic heating applications.
The global biomass pellets market was valued at around US$ 9 Bn in the year 2021, and is expected to expand at a CAGR above 8% over the forecast period of 2022-2029.
Several government policies are being implemented across geographies that are favoring the utilization of efficient bio-fuels such as biomass pellets as a replacement for fossil-based fuels. This has significantly created demand for biomass pellets, and this demand is expected to grow at a very high rate over the forecast period.
Request for Report Sample - https://www.futuremarketinsights.com/reports/sample/rep-gb-7175
East Asia Projected for Significant Growth Opportunities
Over the past years, Europe has been one of the key prominent regions in terms of the production and consumption of biomass pellets. However, other regions such as East Asia have emerged as lucratively growing regions in the global biomass pellets market. This has resulted from the significant growth of the markets in East Asia countries such as China, South Korea, and Japan.
China is one of the prominent hubs of industries and that use coal-based boilers. This creates ample opportunities of demand for biomass pellets that can be used as a replacement or co-fired with coal in these industries.
Furthermore, the demand in South Korea and Japan for biomass pellets has witnessed a significant hike over the past years. As a consequence, East Asia, as a whole, projects significant growth opportunities for the global biomass pellets market over the forecast period.
Sales of Wood Sawdust-Derived Biomass Pellets to Remain Prominent
The market has been segmented on the basis of different sources of biomass pellet production and on the basis of their multiple end uses, besides the seven prominent regions of the world.
- On a global level, wood sawdust is the prominent source of biomass pellet production. The growth in the sales of biomass pellets from this segment is projected to be significant over the forecast period. However, other sources are expected to gain market share over the forecast period.
- Industries with installed coal-based boilers consume a fair share of the global biomass pellets market volume. This consumption is expected to increase further over the forecast period.
- Government policies regarding carbon emissions from industries are changing across geographies in order to achieve their goals and targets of sustainable development. They have become stricter towards the quantity of carbon emitted from industries. As a consequence, industrialists are bound to use biomass pellets in co-firing applications in order to reduce their carbon content and also the cost expenditure over fuels. As a consequence, prominent demand for biomass pellets is being witnessed from industries on a global level.
Speak to our Research Expert: https://www.futuremarketinsights.com/ask-question/rep-gb-7175
Biomass Pellets Market: Vendor Insights
The report highlights some of the market players that are prominent and have established themselves as leaders in the global biomass pellets market. Some of the examples of the key players in this market are Drax Biomass Inc., Enviva Partners, LP, German Pellets GmbH, AS Graanul Inves, Pinnacle Renewable Energy Inc., and Abellon CleanEnergy Limited, among others. These players have a diverse set of biomass pellet offerings for industrial, commercial, as well as domestic applications. These players also participate actively in the trade of biomass pellets to reach international markets, and develop by acquiring a diverse clientele across geographies.
Scope of Report
| Attribute | Details |
| Forecast Period | 2022-2029 |
| Historical Data Available for | 2014-2021 |
| Market Analysis | US$ Bn for Value |
| Key Regions Covered | North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and MEA |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others. |
| Key Market Segments Covered | Source, End Use, and Region |
| Key Companies Profiled |
|
Request Special Price https://www.futuremarketinsights.com/request-special-price/rep-gb-7175
About Chemicals & Materials division of FMI
The Chemicals & Materials division at FMI offers distinct and pin-point analysis about the chemicals & materials industry. Coverage of the chemicals and materials market extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites, and nanotechnology. The team also puts special emphasis on ‘green alternatives’, recycling and renewable technology developments, and supply-demand trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
Explore FMI’s Extensive ongoing Coverage on Technology Domain
FKM Elastomers Market: As per the study conducted, consumption of FKM Elastomers are estimated to grow with a CAGR of 3.0% to 5.0% during the coming forecast period of 2021 to 2031.
Ethylene Glycol Market: According to the latest research, the demand for Ethylene Glycol is anticipated to grow with a compelling growth rate of about 3.1% to 4.5 % in between the coming assessment period of 2021-2031.
Road Marking Paint Market: According to research, road marking paint market is projected to grow with a CAGR of 3.5% - 5.5% for the forecast period of 2021-2031.
3-Iodoaniline Market: According to latest research, the 3-Iodoaniline market is projected to expand between 3.0% and 5.0% CAGR during the 2020-2025 assessment period.
3, 5 Dinitroaniline Market: As per latest study, it is projected that the 3, 5 Dinitroaniline market will grow significantly with CAGR 6 % to 7% in the forecast period of 2021 to 2031.
2-Nitrothiophene Market: According to latest conducted research, 2-Nitrothiophene market is projected to grow at a steady CAGR of 6-8% for the forecast period of 2021-2031.
2-Iodophenol Market: According to latest research, the 2-Iodophenol market is expected to register a CAGR of over 5-7% during the forecast period 2021-2031.
2-Acetylthiophene Market: 2-Acetylthiophene market is growing at a steady growth rate over the last few years and is projected that the market will grow with a healthy CAGR 5% to 6% in the forecast period 2021 to 2031.
Antimicrobial Coil Coating Market: According to latest research conducted on antimicrobial coil coating market, the size is expected to grow at a compound annual growth rate of 10-11 % for the forecast period of 2021 to 2027.
Acrylic Adhesives Market: During the forecast period of 2021 to 2031, the worldwide Acrylic adhesives market is expected to show an upward trend in sales with CAGR 5% TO 6%.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Report: https://www.futuremarketinsights.com/reports/biomass-pellets-market
Press Release Source: https://www.futuremarketinsights.com/press-release/biomass-pellets-market
