Global Wood Pellet Market to Reach US$ 22.2 Billion by 2032, Driven by Increasing Renewable Energy Policies

September 25, 2023 | Energy & Mining

According to the latest report by IMARC Group, titled “Wood Pellet Market Report by Feedstock Type (Forest Wood and Waste, Agriculture Residue, and Others), Application (Power Plants, Residential Heating, Commercial Heating, Combined Heat and Power (CHP), and Others), and Region 2024-2032,” the global wood pellet market size reached US$ 13.3 Billion in 2023. Wood pellets are a type of biomass fuel made from compressed sawdust, wood shavings, or other wood residues. These small cylindrical pellets typically measure about 6-8 millimeters in diameter and 10-30 millimeters in length. Wood pellets are manufactured through a process called pelletization, where the raw wood materials are ground into a fine powder, dried, and then compressed at high pressure to form dense pellets. Wood pellets have gained popularity as a sustainable and environmentally friendly alternative to traditional fossil fuels like coal and oil. They are considered a renewable energy source because they are made from wood, a natural and abundant resource. The combustion of wood pellets releases carbon dioxide, but this is offset by the carbon dioxide absorbed by the trees during their growth, thus making wood pellets a carbon-neutral fuel source. Wood pellets are primarily used for heating purposes, especially in residential pellet stoves and boilers. They are also used in industrial settings for power generation and as a cost-effective fuel in some large-scale heating systems.


Global Wood Pellet Market Trends:

Government incentives and renewable energy targets facilitate the use of biomass fuels like wood pellets, which represents one of the key factors driving the growth of the market across the globe. Subsidies, tax credits, and mandates for renewable energy adoption are promoting the market growth. Wood pellets are considered carbon-neutral because the carbon dioxide released during combustion is offset by the carbon dioxide absorbed by the trees during their growth. This environmental benefit aligns with global efforts to mitigate climate change. Wood pellets have a high energy density, which makes them an efficient and cost-effective heating source for residential and industrial applications. This energy efficiency drives the adoption of wood pallets. Wood pellets often provide cost savings as compared to fossil fuels like heating oil or natural gas, especially in regions with abundant forest resources which makes wood pellets an attractive choice, thus fueling the growth of the market. The rising use of wood pellets for heating and energy production reduces greenhouse gas emissions as compared to coal or oil, aligning with emissions reduction goals and air quality improvement which is propelling the growth of the market. The growing consumer awareness of pellet stoves and boilers as efficient and clean heating options for homes is driving the demand for wood pellets in the residential sector. The rising use of wood pallets in various industrial processes, including power generation and district heating, as an environmentally friendly and sustainable fuel source is facilitating the growth of the market. Advances in pellet production technology are improving the quality and consistency of wood pellets, thus making them more appealing to consumers and industries. The growing environmental consciousness and concerns about air quality and deforestation promote the use of sustainably sourced wood pellets which is creating a positive outlook for the market across the globe. Looking forward, the market value is projected to reach US$ 22.2 Billion by 2032, expanding at a CAGR of 5.7% during 2024-2032.


Market Summary:

  • Based on the feedstock type, the market has been divided into forest wood and waste, agriculture residue, and others. Presently, forest wood and waste hold the largest market share across the globe.
  • On the basis of the application, the market has been classified into power plants, residential heating, commercial heating, combined heat and power (CHP), and others. Currently, residential heating is dominating the market across the globe.
  • Based on the region, the market has been divided into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Presently, Europe holds the largest market share across the globe.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Andritz AG, Asia Biomass Public Company Limited, Drax Group PLC, Energex, Enviva LP, Fram Renewable Fuels LLC, Land Energy Limited, Lignetics Inc., Mallard Creek Inc., Pacific BioEnergy Corporation, Stora Enso Oyj, Svenska Cellulosa Aktiebolaget, Tanac S.A., etc.


Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Feedstock Type, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Andritz AG, Asia Biomass Public Company Limited, Drax Group PLC, Energex, Enviva LP, Fram Renewable Fuels LLC, Land Energy Limited, Lignetics Inc., Mallard Creek Inc., Pacific BioEnergy Corporation, Stora Enso Oyj, Svenska Cellulosa Aktiebolaget and Tanac S.A.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.


Contact Us:

IMARC Group
134 N 4th St.
Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Wood Pellet Market to Reach US$ 22.2 Billion by 2032, Driven by Increasing Renewable Energy Policies
Purchase options




Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More