Biomass Briquette Fuel Market Size, Share, Growth, Trends, and Forecast 2030

Biomass Briquette Fuel Industry Prospective:

The global biomass briquette fuel market size was worth around USD 832.94 million in 2022 and is predicted to grow to around USD 1510.36 million by 2030 with a compound annual growth rate (CAGR) of roughly 7.75% between 2023 and 2030.

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Biomass Briquette Fuel Market: Overview

Biomass briquette fuel refers to an energy source generated using biomass briquettes. They are biofuel alternatives made of biodegradable and clean green waste. As compared to conventionally used fuel, biomass briquette fuel exhibits lower emissions of carbon dioxide and greenhouse gasses. They are widely used as substitutes for harmful biofuels and have applications in cooking, heating, and electricity generation activities. As of 2023, biomass briquettes have gained extreme popularity in developed countries due to the growing focus on the consumption of eco-friendly products and energy sources.

Biomass briquettes are the physical products used for producing associated fuel and they are mostly made of green waste in combination with other organic materials. They consist of products such as bagasse, rice husk, municipal solid waste, ground nut shells, and agricultural waste. Depending on raw material availability, the exact composition of biomass briquettes may change. Since the materials used in the production of briquettes are already a part of the carbon cycle, consumption of biomass briquette fuel leads to low net emissions of greenhouse gasses. The industry for fuel derived from biomass briquette is expected to gain high momentum as consumer awareness and end-user applications are growing rapidly.

Key Insights:

• As per the analysis shared by our research analyst, the global biomass briquette fuel market is estimated to grow annually at a CAGR of around 7.75% over the forecast period (2023-2030)
• In terms of revenue, the global biomass briquette fuel market size was valued at around USD 832.94 million in 2022 and is projected to reach USD 1510.36 million, by 2030.
• The biomass briquette fuel market is projected to grow at a significant rate due to the increasing demand for clean energy
• Based on application segmentation, power generation was predicted to show maximum market share in the year 2022
• Based on fuel source segmentation, sawdust biomass briquette fuel was the leading segment in 2022
• On the basis of region, Europe was the leading revenue generator in 2022

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Biomass Briquette Fuel Market: Growth Drivers

Increasing demand for clean energy to drive market growth

The global biomass briquette fuel market is projected to grow owing to the increasing demand for clean energy across the globe. The rampant consumption of non-renewable fossil fuels for energy generation has resulted in tremendous amounts of environmental pollution and impact on the ecosystem. The emission of harmful and poisonous gasses such as carbon dioxide is a leading cause of growing health concerns among the general population. In addition to this, there has been a significant change in consumption patterns as consumers are actively seeking ways to promote the use of clean energy that does not depend on fossil fuels. These factors are likely to drive the demand for fuel generated from biomass briquettes since not only the source materials are renewable and eco-friendly but the consumption of these fuel variants does not have a significant impact on the environmental conditions. In August 2023, the German cabinet announced the approval of renewable energy subsidies of over 12.6 billion euros. As per the International Energy Agency, global investments in clean energy reached USD 1.7 trillion in 2023.

Superior performance delivered by biomass briquette fuel to create a higher consumption trend

Fuel generated using biomass briquettes has several advantages associated with it. For instance, these variants have higher energy density as compared to other biofuels. It means that the heat or power generating capacity of biomass briquette fuel is higher making them more cost-effective. One of the key advantages of biomass briquette fuel is that it can be produced at home by consumers without needing industrial equipment. In recent times, many countries have reported home production of biomass briquettes leading to increased consumption of fuel derived from them.

Biomass Briquette Fuel Market: Restraints

Limited awareness in non-developed nations to restrict market growth

The global biomass briquette fuel market growth is likely to be restricted owing to the limited awareness about the benefits of biomass briquette fuel. Currently, the production and consumption of biomass briquette is largely restricted to developed countries aided by factors such as consistent research & development and infrastructure availability to invest in large-scale production of biomass briquette fuel. In addition to this, the market for traditionally used fuel such as petrol and diesel is massive and cannot be replaced easily. Almost all nations continue to rely heavily on fossil fuels as critical power sources. It will take many years before conventional fuels take a backseat allowing sustainable alternatives to take the lead thus restricting further consumption of biomass briquette fuel since the alternatives are readily available and enjoy the advantages of a mature market.

Biomass Briquette Fuel Market: Opportunities

Rising strategic partnerships and developments to create growth opportunities

The biomass briquette fuel industry is projected to witness several growth opportunities created by ongoing strategic partnerships between market players. Cross-border business transactions open doors for new investments and encourage other players to follow suit. For instance, in March 2023, Buyofuel and Sai Vasudev Briquettes announced the start of a strategic collaboration as the companies take one step forward toward cleaner energy sources. Under the partnership terms and vision, the companies will make biomass briquette fuel available on the online platform run by Buyofuel which also has an extensive network of biofuel manufacturers, raw material aggregators, waste generators, and fuel consumers. In January 2023, another company ProMart, a business-to-business marketplace and provider of supply chain solutions, embarked on its journey into end-to-end procurement of biomass briquettes. The company serves the clean energy needs of Fortune 500 companies and will only deal with certified biomass briquette providers dealing in high-quality products.

Rising production of biomass briquette to push fuel production rate

The increasing investments in the production of biomass briquettes on a large scale are projected to help the associated fuel industry reach new heights during the forecast period. In April 2022, The Goa Waste Management Corporation (GWMC) in India announced that the production biomass briquette production facility at Saligao with a capacity of 20 tonnes per day will be operational by the end of the year. The construction and operation of the plant are taken care of by the Goa government.

Biomass Briquette Fuel Market: Challenges

Feedstock availability and managing the exact quantity of components are market challenges

The production of biomass briquette fuel depends on the availability of feedstock used for preparing biomass briquette. In addition to this, if the moisture content of the briquette is more than necessary, the product loses its usefulness and performance efficiency. Managing feedback quantity to ideal conditions is an added challenge in the industry dealing with the production and supply of biomass briquette.

Biomass Briquette Fuel Market: Segmentation

The global biomass briquette fuel market is segmented based on application, fuel source, and region.

Based on application, the global market segments are power generation, thermal energy, and others. In 2022, the demand was highest for power generation applications due to increasing emphasis on generating clean energy and reducing dependency on traditionally used fuel. Biomass briquette fuels do not negatively impact the environment and are easy to produce as there are growing investments toward the production of biomass briquettes. The increasing consumer and ease of production allow local production. As per research, biomass briquette fuel has an energy content of 4,500 to 5,000 kilocalories per kilogram on average.

Based on source, the biomass briquette fuel industry segments are sawdust biomass briquette fuel, agromass biomass briquette fuel, and wood biomass briquette fuel. In 2022, the largest biomass briquette fuel-producing source was sawdust. It is an exceptionally versatile and useful byproduct of the growing wood processing industry. The rising number of strict regulations surrounding waste creation by operations in the wood processing industry is a major growth propeller. As per estimates, more than 3.3 million tons of wood waste is generated every year.

Biomass Briquette Fuel Market: Report Scope

Biomass Briquette Fuel Market: Regional Analysis

Europe to deliver the best results during the forecast period

The global biomass briquette fuel market is projected to witness the highest growth in Europe during the forecast period. The major growth propeller is the rising shift of European nations toward clean and green energy generation & consumption. European countries are working actively toward reducing dependence on fossil fuel amid surging prices and changing rates of fuel availability. The region is home to several producers of biomass briquette and fuel derived from it is used extensively for mass power generation projects. The rising strategic partnerships for the supply of biomass briquette fuel and application are expected to trigger regional growth.

Asia-Pacific is showing promising signs of a higher growth rate throughout the projection period. Japan has been producing biomass briquette fuel for many years. On the other hand, growing developments in Chinese Biomass Fuel production technology along with increasing efforts of the Indian government to promote the use of biomass briquette fuel are expected to help in regional growth. In July 2022, Bharat Aluminium Company Limited (BALCO) announced that it would use biomass briquettes for generating thermal power.

Biomass Briquette Fuel Market: Competitive Analysis

The global biomass briquette fuel market is led by players like:

• German Pellets GmbH
• Pinnacle Renewable Energy Inc.
• Enviva Partners
• LP
• Premium Pellet Ltd.
• Pacific BioEnergy Corporation
• Biomass Secure Power Inc.
• Balcas Energy
• Viridis Energy Inc.
• Ecomax Energy Services Ltd.
• Rentech Inc.
• DiRenzo Coal Co. LLC
• Drax Group plc
• Biomass Briquette Systems LLC
• Energex Corporation
• Appalachian Wood Pellets LLC.

The global biomass briquette fuel market is segmented as follows:

By Application

• Power Generation
• Thermal Energy
• Others

By Fuel Source

• Sawdust Biomass Briquette Fuel
• Agromass Biomass Briquette Fuel
• Wood Biomass Briquette Fuel

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa