Industrial wood pellets market size will reach USD 7.69 billion

Pune, India, Aug. 22, 2022 (GLOBE NEWSWIRE) — According to Fortune Business Insights, the Industrial Wood Pellets Market Size is expected to reach USD 7.69 billion by 2027 and grow at a CAGR of 8.56% during the forecast period. The market size stood at USD 5.54 billion in 2019 and USD 4.33 billion in 2020. The industrial wood pellet market is expected to flourish, fueled by the increased demand for clean energy. The industrial wood pellet market will benefit from stringent government initiatives promoting biofuels for power generation.

Industry developments:

In October 2018, Pinnacle Renewable Holdings Inc. announced that it had completed the acquisition of a 70% stake in an industrial wood pellet production plant in Aliceville, Alabama from the Westervelt Company.

In December 2019, Enviva LP, one of the largest wood pellet producers, received approval for a permit to build a wood pellet plant in Sumter County. The permit was approved by the Alabama Department of Environmental Management (ADEM).

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Report Scope and Segmentation:

Report cover Details
Forecast period 2020-2027
Forecast Period 2020 to 2027 CAGR 8.56%
2027 value projection $7.69 billion
base year 2019
Market size in 2019 $5.54 billion
Historical data for 2016-2018
Number of pages 130
Segments Covered By raw materials (forestry waste, agricultural waste and others), by application (power generation and combined heat and power generation [CHP]) and regional
Growth engines Growing concerns about increasing carbon emissions to drive growth
Launching new products to help key players in business expansion

Drivers and constraints:

Growing concerns about increasing carbon emissions to drive growth

According to a report published by Statista on global climate change, in 2019 the Earth’s surface temperature was almost 0.95°C higher than the total average temperature of the 20th century. Growing concerns over increasing carbon emissions are believed to be driving the growth of the industrial wood pellet market. Moreover, the growing demand for these pellets from various end-user industries is expected to further boost their growth. However, strict sustainability certification criteria from governments can hinder demand.

Impact of Covid-19:

Widespread shutdowns negatively affecting the energy sector amid COVID-19

COVID-19 was one of the major disruptors in the global energy market in 2020. Several companies stumbled upon the outbreak due to widespread lockdowns and production stoppages. In May 2020, the future value of crude oil reached zero. Key industry players are working closely with governments to develop an exit strategy from the crisis. At Fortune Business Insights, our team of experts closely analyzes the current situation to help you solve the latest problems.

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Report Highlights:

The report includes information on revenue generated by major market players, which we have leveraged through secondary sources such as company websites, company filings, annual reports and investor presentations. Our next step included monitoring and analyzing the competitive developments of these players such as partnerships, mergers and acquisitions, new product launches, and research and development activities. We also conducted in-depth interviews with key industry experts, such as CEOs, VPs, directors and executives. Top-down and bottom-up procedures were used to arrive at the overall market size.

Segmentation:

The forestry waste segment will dominate the market

Based on raw material, the forestry waste segment is estimated to dominate the market with a share of 92.1% in 2019, as by-products from actively managed forests are the major source of industrial wood pellet production . Much of these by-products come from traditional forestry operations such as sawmills and the manufacturing of finished wood products.

Regional outlook:

High consumption of pellet-based energy to help Europe dominate

Europe is expected to dominate the global industrial wood pellet market with a value of USD 2.76 billion in 2019. The highest consumption of pellet-based energy, at nearly 8 million tonnes in the UK, is a major factor in the growth of wood pellets in the region. . Additionally, strong demand from large-scale power plants in countries such as the UK, Belgium and the Netherlands is expected to bolster demand in the region.

The market in Asia Pacific is estimated to thrive within the forecast timeline. This region is expected to hold a considerable share of the industrial wood pellets market in the coming years. Rapidly increasing demand for wood pellets from China, South Korea and Japan is the main driver of their growth in the region.

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Competitive Landscape:

Launching new products to help key players in business expansion

Major players operating in the global market are focusing on expanding their production capacities. They do this by introducing new factories or expanding existing ones. For example, in July 2019, Pinnacle Renewable Energy entered into a limited partnership agreement with Tolko Industries Ltd. to build a new industrial wood pellet production plant in High Level, Alberta.

A list of major manufacturers operating in the global market:

  • Drax Group
  • Enviva
  • Pinnacle Renewable Energy Group
  • The Westervelt company
  • Fram Renewables Fuels LLC
  • AS Graanul Invest
  • Bluesky Biomass Georgia
  • Thunderbolt Biomass Inc.
  • Pellet Fuel Energex, Inc.
  • A Viet Phat group

Industrial Wood Pellets Market Segmentation:

By raw material:

  • Forest waste
  • Agricultural waste
  • Others

Per application:

  • energy production
  • Combined Heat and Power (CHP)

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Contents:

  • Introduction
    • Search scope
    • Market segmentation
    • Research Methodology
    • Definitions and assumptions
  • Summary
  • Market dynamics
    • Market factors
    • Market constraints
    • Market opportunities
  • key ideas
    • Main emerging trends – for main countries
    • Main developments: mergers, acquisitions, partnerships, etc.
    • Latest technological advancement
    • Regulatory landscape
    • Analysis of the five forces of carriers
  • Qualitative Analysis – Impact of COVID-19
    • Impact of COVID-19 on the Industrial Wood Pellets market
    • Measures taken by the government to overcome the impact
    • Key Industry Developments in Response to COVID-19
    • Potential Opportunities and Challenges Due to the COVID-19 Outbreak
  • Global Industrial Wood Pellets (USD Billion) Market Analysis (Thousand Tons), Outlook and Forecast, 2016-2027
    • Main results/summary
    • Market Analysis, Outlook and Forecast – By Commodity
      • Forest waste
      • Agricultural waste
      • Others
    • Market Analysis, Outlook and Forecast – By Application
      • energy production
      • Combining heat and power (CHP)
    • Market Analysis, Outlook and Forecast – By Region
      • North America
      • Europe
      • Asia Pacific
      • Rest of the world
  • North America Industrial Wood Pellets Market Analysis (USD Billion) (Thousand Tons), Outlook and Forecast, 2016-2027
    • Main results/summary
    • Market Analysis, Outlook and Forecast – By Commodity
      • Forest waste
      • Agricultural waste
      • Others
    • Market Analysis, Outlook and Forecast – By Application
      • energy production
      • Combining heat and power (CHP)
    • Market Analysis, Outlook and Forecast – by Country

Continued…

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