Biomass Pellets Market Registered Substantial CAGR Growth Of 5.50% Forecast to 2030

Biomass Pellets Market is projected to be worth USD 9.5 billion by 2030, registering a CAGR of 5.50% during the forecast period (2021 – 2030).

Biofuels, or compressed organic biomass or matter, are what are known as biomass pellets. Biomass pellets are often produced using a variety of materials, including virgin wood, industrial waste, agricultural residue, food waste, and more. In an effort to reduce their reliance on fossil fuels and expand the use of renewable energy sources, several nations have recently moved to biomass pellets for the creation of electricity and heat. As a result, the use of renewable and clean energy has fueled the expansion of the worldwide biomass pellets market.

Additionally, the demand for biomass pellets across a range of end-use sectors is increasing.

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Regional analysis:

The worldwide biomass pellets market has demand and supply in many different areas, including North America, South America, Latin America, Europe, Asia-Pacific, and other parts of the globe, according to the geographical categorization.

The European area is leading all others in terms of market share for the foreseeable future. The market is expanding as a result of the increasing demand for wood pellets in the area. Government laws to limit greenhouse gas (GHG) emissions are another factor contributing to the rising demand in this area. In addition, the Asia-Pacific region is anticipated to see the quickest market development due to the expanding usage of biomass pellets in a variety of industrial heating applications. China and Thailand are contributing more to this region.

Market segmentation:

Agri-pellets, torrefied pellets, wood pellets, and other forms of biomass pellets are available on the market.

Wood pellets are the most in-demand among them throughout a wide range of end-use industries.

The biomass pellets market serves a variety of materials, including industrial waste, energy crops, food waste, agricultural residue, virgin timber, and more, depending on the source.

Agriculture residue and the industrial waste sectors dominated in 2019.

The biomass pellets market may serve the needs of power generation, domestic heating, industrial heating, and other applications.

Among them, the power sector will have the largest market share globally and is predicted to expand the biomass pellets market’s potential for growth in the years to come.

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Key players:

Abellon CleanEnergy Limited (India), Zilkha Biomass Energy (US), JP Green Fuels (India), The Westervelt Company, Inc (US), New England Wood Pellet (US), Forest Energy Corporation, Premium Pellets Ltd (Canada),  AS Graanul Invest (Estonia), Pinnacle Renewable Energy Inc (Canada), Drax Group plc (UK), Enviva (US),  Ecostan (India), Lignetics (US), German Pellets GmbH (Germany) (US).

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