![Global Biomass Pellets Market](https://res.cloudinary.com/devmoveo/image/upload/v1709037762/skyquest/gallery/Global-Biomass-Pellets-Market.jpg)
Report ID: SQMIG10G2035
Report ID:
SQMIG10G2035 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
64 |
Figures:
70
Global Biomass Pellets Market size was valued at USD 6.5 billion in 2022 and is poised to grow from USD 6.86 billion in 2023 to USD 10.52 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).
Pellets produced from organic materials through the palletization process are known as biomass pellets. They are used for a wide variety of applications including heating, power generation, etc. Increasing focus on sustainability and growing demand for renewable energy sources are forecasted to boost demand for biomass pellets in the future. Rising consumer preference for biodegradable products is also estimated to uplift sales of biomass pellets over the coming years. Biomass pellets are usually made from agricultural waste or waste wood, which helps them minimize the waste issue and makes them biodegradable as well. Incentives and supportive initiatives by governments across the world to boost the usage of biomass pellets and mitigate the risks of climate change are also favoring market growth.
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Report ID: SQMIG10G2035