Dublin, May 31, 2024 (GLOBE NEWSWIRE) -- The "Global Solid Biomass Feedstock Market by Source (Agriculture, Forest, Municipal), Type (Chips, Pellets, Briquettes), Application (Electricity, Heat, Biofuel), End User (Residential & Commercial, Industrial, Utilities) & Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global solid biomass feedstock market is estimated to grow from USD 26.6 billion in 2024 to USD 36.2 Billion by 2029; it is expected to record a CAGR of 6.3% during the forecast period.
The growing global awareness of the urgent need to mitigate climate change, supportive government policies and incentives drive the solid biomass feedstock market. The market for solid biomass feedstock is expected to grow due to the implementation of stringent emission laws. Moreover, the increasing need to reduce the dependence on fossil fuels and focus on renewable energy for power generation is projected to drive the market during the forecast period. 
Forest Waste: The largest segment of the solid biomass feedstock market, by source
Based on source, the solid biomass feedstock market has been segmented into agriculture waste, forest waste, animal waste, and municipal waste. The forest waste segment is expected to be the largest segment during the forecast period. Agriculture biomass feedstock has the potential to meet the growing demand for bioenergy due to its availability in abundance. The utilization of forest waste biomass for bioenergy production not only offers a renewable energy solution but also efficiently handles forest residues, decreasing the buildup of surplus biomass that could otherwise escalate wildfire risks.
Pellets is expected to be the largest segment during the forecast period based on type
By type, the solid biomass feedstock market has been split into four types: chips, pellets, briquettes, and others. Governments worldwide are offering subsidies and incentives to promote biomass pellet usage, aligning with renewable energy targets to drive demand. For example, The Biomass Thermal Utilization Act (BTU Act) in North America and initiatives by the Indian Renewable Energy Development Agency (IREDA) further support biomass pellet adoption.
By application, biomethane segment is expected to be the fastest growing segment during the forecast period
Based on the application, the solid biomass feedstock market is segmented into electricity, heat, biofuel, and biomethane. The biomethane segment is expected to be the fastest growing segment of the solid biomass feedstock market during the forecast period. Biomethane can be used as a substitute of natural gas to combat environment emission as well as existing infrastructure compatibility drives the demand for biomethane.
Asia Pacific is expected to be the largest region in the solid biomass feedstock market
Asia Pacific is expected to be the largest region in the solid biomass feedstock market during the forecast period. Governments in countries such as China, Japan and India are playing a proactive role in reducing CO2 emissions which fosters the growth of biofuel and biomethane in the region. The increasing adoption of biofuels and biomethane in the region drives the growth of the solid biomass feedstock market. Initiatives to reduce CO2 emissions using biofuel, heat, and electricity and improve energy efficiency are supported by the Ministry of New and Renewable Energy (MNRE), International Renewable Energy Agency (IRENA), International Monetary Fund (IMF), International Institute of Sustainable Development, Bioenergy International; as a result, manufacturing solid biomass feedstock is encouraged.
Research Coverage
The report defines, describes, and forecasts the global solid biomass feedstock market by source, type, application, end user and region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the direct air capture market.
The solid biomass feedstock market is dominated by a few major players that have a wide regional presence. The leading players in the solid biomass feedstock market are Stora Enso (Finland), Drax Group plc (UK), Segezha Group (UK), Enviva Inc. (US), and Lignetics, Inc. (US). The major strategy adopted by the players includes new partnerships, collaboration, acquisition, and investments & expansions.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 210 |
| Forecast Period | 2024-2029 |
| Estimated Market Value (USD) in 2024 | $26.6 Billion |
| Forecasted Market Value (USD) by 2029 | $36.2 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
Premium Insights
- Increasing Emphasis on Renewable Energy to Boost Market Growth
- Europe to Witness Fastest Growth During Forecast Period
- Forest Waste to Hold Major Market Share, by Source, by 2029
- Pellets Segment to Command Solid Biomass Feedstock Market, by Type, by 2029
- Electricity Segment to Dominate Solid Biomass Feedstock Market, by Application, by 2029
- Utilities Segment to Hold Largest Market Share, by End-user, by 2029
Market Dynamics
- Drivers
- Growing Environmental Concerns
- Growing Demand for Biofuels
- Restraints
- Complexities Associated with Pre-Treatment of Solid Biomass Feedstock
- High Costs Associated with Feedstock
- Opportunities
- Growing Emphasis on Waste Management
- High Depletion Rate of Fossil Fuels
- Challenges
- Challenges Associated with Logistics and Supply Chain Management
Supply Chain Analysis
- Raw Material Supply
- Feedstock Development
- Distributors
- End-users
Technology Analysis
- Key Technologies
- Crushing
- Grinding
- Drying
- Separation
- Complimentary Technologies
- Storage and Handling
Case Study Analysis
- Coop Group Implements Sustainable Energy Practices to Produce Industrial Heat
- Opportunities for Power Generation Using Woody Biomass in Vietnam
Patent Analysis
- Major Patents
Pricing Analysis
- Average Selling Price Trend, by Company & Type
- Average Selling Price Trend, by Region
Companies Featured
- Drax Group PLC
- Enviva Inc.
- Arbaflame
- Redal
- Ecostrat Inc.
- Stora Enso
- Segezha Group
- Lignetics, Inc.
- Rentech, Inc.
- Land Energy Ltd.
- Supreme Industries
- Wismar Pellets GmbH
- Shree Industries
- Mallard Creek Inc.
- Subham Industries
- Fram Fuels
- Gildale Farms
- Gombella Integrated Services Ltd.
- Valfei Products Inc.
- Forest Concepts
- Blackwood Technology
- JP Green Fuels
- Graanul Invest
- Viridis Energy Inc.
- Growmore Biotech Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/xrw28m
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