Biomass Pellets Market Trend, Share, Growth, Size, Analysis and Forecast 2032

Biomass Pellets Market Insights

According to a report from Zion Market Research, the global Biomass Pellets Market was valued at USD 6.04 Billion in 2023 and is projected to hit USD 10.44 Billion by 2032, with a compound annual growth rate (CAGR) of 6.28% during the forecast period 2024-2032. This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Biomass Pellets Market industry over the next decade.

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Biomass Pellets Market Overview     

Biomass pellets are the biofuels produced from organic matter or biomass. It is produced through industrial waste, food waste, agriculture residue, virgin lumber, and others. Different types of Biomass pellets are wood pellets, agri-pellets, and torrefied pellets, among which the demand for wood pellets is the highest across various end-use industries.

The biomass pellets have low moisture content, which offers high efficiency and has lower density as compared to biomass briquettes, which is likely to spur its demand across various industries. Owing to the environmental policies of various government over the Co2 emission in European and the Americas, the industrialists are inclining toward clean sources for energy generation, which in turn, provide strong growth impetus to the giant players operating in the market.   

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Growth Factors

The global biomass pellets market is expected to witness significant growth over the forecast period on account of rising environmental awareness and government regulations. Biomass is used as a heating fuel and can be derived from various sources such as woody plants, timber industry, sawdust, sugarcane crop, and switch grass. The growing disposable income and the consequent demand for nonconventional sources of energy are expected to drive the demand for biomass pellets market within the forecast period. Furthermore, the rapid depletion of fossil fuels and global warming are expected to aid the growth of biomass pellets market. However, the raw materials and the extraction process are expensive. This could restrain the growth of the biomass pellets market over the years.

 The technological advancement in the products manufacturing is expected to sight critical growth opportunity during the forecast period.

Biomass Pellets Market: Report Scope

Application Segment Analysis Preview   

Industrial applications segment dominated the biomass pellets market with a major share of total volume consumed. Low greenhouse gas emission and various governmental regulations have paved the way for the industries to adopt biomass pellets for heating fuel. Residential applications segment is expected to experience growth within the forecast period owing to increasing environmental awareness.

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Key Market Players & Competitive Landscape

Some of the key players included in biomass pellets market are:

• Energex Corporation
• Forest Energy Corporation
• Helius Energy
• New England Wood Pellet
• Woodstone
• Forth Energy
• International WoodFuels
• MGT Power among others.

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The global Biomass Pellets Market is segmented as follows:

By Application

• Industrial Applications
• Residential Applications

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