- Opportunity and Forecast, 2016 - 2025
Wood pellet is the most common type of pellet fuel, which is made from compressed sawdust and related wastes from manufacture of wood products & furniture, milling of lumber, and construction. Other industrial waste sources used are empty fruit bunches, diseased & insect-killed trees, coconut shells, palm kernel shells, and discarded tree tops & branches during logging operations. Its usage has increased owing to reduction in carbon emissions and growing concerns over compliance with stringent government norms.
High energy density, financial incentives by federal agencies, and reduction in greenhouse emission have fueled the growth of the global wood pellets market. However, flue gas release during storage of wood pellets limits the market growth. Technological advancements and supportive government initiatives present lucrative opportunities. The market is segmented on the basis of application and geography. Applications covered in the study include power plants and heating. Based on geography, the market is divided into North America, Asia-Pacific, Europe, Central & South America, and Middle East & Africa.
Key market players in the global wood pellets market include Andritz AG, Enito Singpellet Pvt. Ltd., Drax Group plc, Enviva LP, German Pellets GmbH, F.E. Wood & Sons, Allance Pellet Machinery, Georgia Biomass, LLC, The Westervelt Company, Rentech Inc., Pinnacle Renewable Energy Group, Energex, and Wood Pellet Energy (UK) Ltd. These prominent players have adopted strategies, such as partnerships, expansion, new product launches, merger & acquisition, collaborations, joint ventures, and others to gain a strong foothold in the market.
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