Global Industrial Wood Pellet Market

Industrial Wood Pellet Market Size, Share, Growth Analysis, By Feedstock(forest waste, and agricultural waste), By Application(the industrial wood pellet market is segmented into power generation, and combined heat & power (CHP) ), By Region - Industry Forecast 2024-2031

Report ID: SQMIG10B2032 | Region: Global | Published Date: April, 2024
Pages: 178 | Tables: 61 | Figures: 75

Industrial Wood Pellet Market News

  • In October 2022, Enviva Biomass opened the largest wood pellet plant in Lucedale, Mississippi. The company has hired 90 full-time employees to support plant operations in Lucedale.
  • In February 2022, the government of France launched an initiative: a call for expressions of interest that aims to identify and support projects to replace coal currently used in heating, industrial and power-generation applications with heat-treated biomass pellets, including those produced via a torrefaction or steam explosion process.
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Industrial Wood Pellet Market size was valued at USD 8.68 billion in 2022 and is poised to grow from USD 9.16 billion in 2023 to USD 14.05 billion by 2031, growing at a CAGR of 5.50% during the forecast period (2024-2031). 

industrial wood pellet market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Enviva Partners, LP', 'Drax Group plc', 'Pinnacle Renewable Energy Inc.', 'Georgia Biomass, LLC', 'Pacific BioEnergy Corporation', 'The Westervelt Company, Inc.', 'Woodfiber Resources LLC', 'Fram Renewable Fuels, LLC', 'AS Graanul Invest', 'Energex Corporation', 'German Pellets GmbH', 'Rentech, Inc.', 'Andritz AG', 'Green Circle Bio Energy, Inc.', 'Arch Wood Protection, Inc.', 'Pfeifer Group', 'ECN', 'Pöyry Management Consulting (UK) Limited', 'RWE AG', 'F.E. Wood & Sons, Inc.'

Increasing popularity of wood pellets in end-use industries in terms of increasing prices of primary fuel is the growth factor of industrial wood pellets. Furthermore, the cheap production cost and the ease of availability of pellet fuel feedstock, increases the consumption of the product in the industrial sector.

Increasing demand for electricity is on the rise due to the major factors such as growing population, increasing changes in living standards, prospering industrial sector, and infrastructure development, and development of countries. This demand increases power generation capacity by installing new plants, and widening the existing plants capacity.

Europe is anticipated to capture the industrial wood pellet market during the forecast period. Increasing consumption rate of pellet-based energy in the U.K. is propelling the wood pellets growth in the region. The high demand from large-scale power plants for wood pellets in the U.K., Belgium, and the Netherlands may boost the demand in the region as residential applications of pellets is insignificant.

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Global Industrial Wood Pellet Market

Report ID: SQMIG10B2032

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