The global wood chips market size reached US$ 9.13 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.41 Billion by 2028, exhibiting a growth rate (CAGR) of 6.30% during 2023-2028. The increasing use of renewable sources of energy, rising application in the agriculture sector, and the growing construction activities represent some of the key factors driving the market.
|Market Size in 2022
||US$ 9.13 Billion
|Market Forecast in 2028
||US$ 13.41 Billion
|Market Growth Rate (2023-2028)
Wood chips are small pieces of wood made by cutting, chipping, grinding, or shredding larger pieces of wood, such as logs, branches, stumps, trees, roots, and wood waste. They can also be produced from reclaimed forest resources, including tree branches, treetops, unsaleable materials, and undersized trees. They are stored in large piles and silos that are transported by truck, train, and ship. They are a biomass solid fuel that can be used as a raw material for making wood pulp. They are also utilized as organic mulch in gardening, landscaping, ecosystem restoration, and denitrification bioreactors. At present, due to their increasing usage as a feedstock for generating energy in biomass power plants, the demand for wood chips are catalyzing across the globe.
Wood Chips Market Trends:
There is an increase in the use of wood chips in the power generation. This, coupled with the rising awareness among individuals about the benefits of using renewable sources of energy, such as solar and wind power, to provide a more stable and reliable energy supply represents one of the major factors strengthening the growth of the market around the world. Moreover, wood chips are employed in the paper industry to manufacture napkins, handkerchiefs, toilet rolls, baby wipes, diapers, and other personal hygiene products. In addition, the growing utilization of wood chips in the agriculture sector to control weeds and retain moisture in the soil and nutrients as they break down is influencing the market positively. Besides this, the increasing usage of wood chips in landscaping to stabilize slopes, prevent soil erosion, and reduce the impact of heavy rainfall is creating a positive outlook for the market. Furthermore, wood chips find application in the construction industry as an insulation material and decorative element to insulate and create textured surfaces, patterns, and designs on walls, floors, and ceilings. This, along with the increasing construction activities in residential, commercial, and industrial areas, is bolstering the growth of the market. Apart from this, due to rising environmental concerns, several initiatives are being undertaken by the governments of numerous countries to promote the usage of eco-friendly materials and minimize greenhouse gas (GHG) emissions, which is anticipated to fuel the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global wood chips market report, along with forecasts at the global, regional, and country levels for 2023-2028. Our report has categorized the market based on product, variety type, and application.
The report has provided a detailed breakup and analysis of the wood chips market based on the product. This includes softwood and hardwood. According to the report, softwood represented the largest segment.
Variety Type Insights:
- Forest Chips
- Recycled Chips
- Wood Residue Chips
A detailed breakup and analysis of the wood chips market based on the variety type has also been provided in the report. This includes forest chips, recycled chips, wood residue chips, and others. According to the report, forest chips accounted for the largest market share.
- Combined Heat and Power (CHP)
- Household Furnishing
- Residential Heating
The report has provided a detailed breakup and analysis of the wood chips market based on the application. This includes combined heat and power (CHP), household furnishing, residential heating, and others. According to the report, residential heating represented the largest segment.
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, 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. According to the report, Asia Pacific was the largest market for wood chips. Some of the factors driving the Asia Pacific wood chips market included increasing construction activities, rising usage in paper production, government initiatives, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global wood chips market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered American Wood Resources LLC, Axpo Holding AG, Bio Eneco Sdn Bhd, Cogent Forest Products Inc., Great Northern Timber Inc., LA.SO.LE. EST S.P.A., Mitsui & Co. Ltd., Verdo Holding A/S, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Wood Chips Market Report Scope:
|Base Year of the Analysis
|Scope of the Report
||Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: ·
- Variety Type
|Variety Types Covered
||Forest Chips, Recycled Chips, Wood Residue Chips, Others
||Combined Heat and Power (CHP), Household Furnishing, Residential Heating, Others
||North America, Europe, Asia Pacific, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||American Wood Resources LLC, Axpo Holding AG, Bio Eneco Sdn Bhd, Cogent Forest Products Inc., Great Northern Timber Inc., LA.SO.LE. EST S.P.A., Mitsui & Co. Ltd., Verdo Holding A/S, etc.
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||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report:
- How has the global wood chips market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global wood chips market?
- What is the impact of each driver, restraint, and opportunity on the global wood chips market?
- What are the key regional markets?
- Which countries represent the most attractive wood chips market?
- What is the breakup of the market based on the product?
- Which is the most attractive product in the wood chips market?
- What is the breakup of the market based on the variety type?
- Which is the most attractive variety type in the wood chips market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the wood chips market?
- What is the competitive structure of the global wood chips market?
- Who are the key players/companies in the global wood chips market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the wood chips market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global wood chips market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the wood chips industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.