Global Biomass Pellet Market Report to 2027: Clean and Renewable Biomass Pellet Fuel Driving Growth

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Apr 03, 2023, 14:00 ET

DUBLIN, April 3, 2023 /PRNewswire/ -- The "Biomass Pellet Market -Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Source (Industrial Waste & Co-product, Agriculture Residue, Food Waste, Energy Crops, Virgin Lumber, and others), By Type, By Application, By Region" report has been added to ResearchAndMarkets.com's offering.

The global biomass pellet market is expected to grow at a robust pace in the forecast period, 2022-2027.

Companies Mentioned

New England Wood Pellet
Drax Group Plc
Forest Energy Corporation
Energex Corporation
International Woodfuels LLC
Buhler AG
Enviva
Pinnacle Renewable Energy Inc.
Sumitomo Corporation
An Viet Phat Group

The demand from the power industry, which is expected to boost the consumption of biomass pellets, is rising due to biomass pellets' ability to generate electricity and heat. Biomass pellets have high density and low moisture content, biomass pellets are made and burnt with a very high combustion efficiency.

Agricultural waste, sawdust from wood, and other materials are used to create biomass pellets. Wood pellets are the prevalent type of pellet fuel and are usually made from compacted sawdust. In power plants and heating facilities, wood pellets are used in place of coal, wood, oil, and gas. Biomass pellets are sustainable energy sources that might displace fossil fuels such as coal or natural gas as a source of electric energy, which is thought to affect the market for biomass pellets.

Clean and Renewable Biomass Pellet Fuel Driving The Market

A biomass pellet is a biofuel made from organic matter and biomass, including wood waste and sawdust. Biomass pellet is a cost-effective, clean-burning, and renewable fuel. It significantly reduces carbon emission and pollution rate and improves the thermal value of biomass waste during the burning process. Biomass pellets emit the lowest greenhouse gases; hence it is not harmful for the environment. These pellets are used as a substitute for coal in power plant, for heating boilers to reduce global warming.

Growing public awareness regarding the environment is the primary factor influencing market sales. As a result of this change, demand for biofuels and other renewable energy sources such as wind and solar has been robust. The need for clean energy has grown at an unprecedented rate, especially in industrialized areas such as North America and Europe. Owing to the aspects mentioned above, the market is expected to grow during the forecast period.

Government Initiatives and Rising Conventional Energy Prices Promoting Biomass Pellets Sales

Due to depletion of wood & coal in the future, conventional energy costs have already hit record highs and are expected to rise further in the future. As a result, the demand for crude oil has surpassed the supply rate. For instance, it has been stated that Venezuela's oil output has almost halved during the previous few years.

This has put a lot of pressure on the nations that import Venezuelan oil and led to regular price changes that impact economies worldwide. Owing to the above-mentioned factors, economies must diversify their energy sources and employ biofuels instead of traditional fuels, thereby resulting in increased demand for biomass pellets through 2027.

Biomass pellets have the potential to be a significant source of energy, given the advantages that biomass has to offer. The most crucial factor is that biomass pellets are broadly accessible, renewable, and carbon neutral. Owing to these reasons, most governments around the world have introduced several policies and investments to encourage using biomass-based energy sources such as biomass pellets.

High Cost of Manufacturing

Low energy density and challenging land acquisition for harvesting and storage are all problems with biomass pellets. Therefore, biomass pre-treatment method is very expenses and small industries, and organizations might not be able to hold. Since In addition, wood sawdust or other pulverized woody products are used to make wood pellets, a renewable energy source.

To cut greenhouse gas emissions from electricity production, they are co-fired in coal-based power plants and mono-fired in coal power plants that have been converted. However, the market expansion for biomass pellets may be hampered by the high cost of raw materials, such as wood pellets.

Report Scope:

In this report, the global biomass pellet market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Biomass Pellet Market, By Source:

Industrial Waste & Co-product
Agriculture Residue
Food Waste
Energy Crops
Virgin Lumber
Others

Biomass Pellet Market, By Type:

Wood Pellets
Agri Pellets
Torrefied Pellets
Others

Biomass Pellet Market, By Application:

Power Generation
Industrial Heating
Residential Heating
Others

For more information about this report visit https://www.researchandmarkets.com/r/qnj2ml

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