Dublin, Dec. 23, 2020 (GLOBE NEWSWIRE) -- The "Wood Pellets - Global Market Outlook (2019-2027)" report has been added to ResearchAndMarkets.com's offering.
According to the report, the Global Wood Pellets market accounted for $8.88 billion in 2019 and is expected to reach $21.21 billion by 2027 growing at a CAGR of 11.5% during the forecast period. Some of the key factors propelling the market growth include growing consciousness regarding the use of renewable energy sources for space heating in residential and commercial heating, rising financial incentives by several federal agencies, numerous favourable government policies, and the low cost of raw materials for making wood pellets. However, the high cost of a wood pellet stove is likely to hamper the market.
Wood pellet is a solid fuel which is manufactured by densifying and crushing waste wood including industrial by products such as old paper, forestry wastes, and forestry residues. It is a renewable, clean-burning and cost-effective option for home heating. Apart from heating and power generation, these pellets are also used for the horse bedding purpose.
By end user, the thermal energy (heat generation) segment witnessed a steady growth in the past decade owing to the rising cost of alternative heating fuels. Wood pellets combined with the right type of heating devices such as pellet boilers and pellet stove inserts can transform more than 90% of the energy contained in the fuel into usable heat. Further, usage of wood pellets for heating purposes also has very less effect on the environment since wood absorbs the same amount of carbon dioxide as emitted during the combustion process.
On the basis of geography, the demand for wood pellets in Asia Pacific is expected to witness a significant growth during the forecast period, due to the favorable government policies in Japan, China, and South Korea regarding power generation and CHP. Demand for renewable energy in the region is on the rise as the governments are seeking alternatives to fossil fuels in order to reduce carbon footprint and to ensure long term energy security. China is expected to be one of the key markets for wood pellets in the coming years. Rapidly growing population, insatiable demand for energy, rising pollution levels are some of the key factors that are expected to augment demand for wood pellets in China in the coming years.
Some of the key players in Wood Pellets Market include Vermont Wood Pellet Co., Pinnacle Renewable Energy Group, The Westervelt Company, Allance Pellet Machinery, INGPELLET Pte. Ltd., Enviva Holdings, LP, Enito Singpellet Pte Ltd, Groupe Savoie Inc., Wood Pellet Energy (UK) LTD, Energex Ltd., Rentech, Inc., Drax Group plc, Andritz AG., Premium Pellet Ltd., I.C.S. (Lacroix) Lumber Inc., Georgia Biomass, LLC, German Pellets GmbH, and F.E. Wood & Sons.
What the Report offers:
Market share assessments for the regional and country-level segments
Strategic recommendations for the new entrants
Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter's five forces analysis, SWOT analysis, etc.
Strategic recommendations in key business segments based on the market estimations
Competitive landscaping mapping the key common trends
Company profiling with detailed strategies, financials, and recent developments
Supply chain trends mapping the latest technological advancements
Key Topics Covered:
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
3 Market Trend Analysis
3.6 Application Analysis
3.7 End User Analysis
3.8 Product Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Wood Pellets Market, By Feedstock Type
5.2 Agricultural Residue and Waste
5.3 Forest & Wood Waste Resources
5.4 Other Feedstock Types
5.4.1 Food Waste
5.4.2 Virgin Lumber
5.4.3 Energy Crops
6 Global Wood Pellets Market, By Type
7 Global Wood Pellets Market, By Application
7.2 Pellet Boilers
7.3 Pellet Stove Inserts
7.4 Free-standing Pellet Stoves
8 Global Wood Pellets Market, By Grade
9 Global Wood Pellets Market, By End User
9.2 Power Plants
9.3 Combined Heat and Power (CHP)/District Heating
9.5 Industrial Furnace
9.6 Power Generation
9.7 Animal Bedding
9.8 Thermal Energy (Heat Generation)
9.8.1 Residential Heating
9.8.2 Commercial Heating
9.10 Civil Use
9.11 Feedstock (Biofuels)
9.13 Other End Users
9.13.2 Horse Bedding
10 Global Wood Pellets Market, By Product
10.2 Black Pellet
10.3 White Pellet
11 Global Wood Pellets Market, By Sales Channel
11.3 Manufacturer/Distributor/Service Provider
12 Global Wood Pellets Market, By Geography
12.2 North America
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.5 Other Key Strategies
14 Company Profiling
14.1 Vermont Wood Pellet Co.
14.2 Pinnacle Renewable Energy Group
14.3 The Westervelt Company
14.4 Allance Pellet Machinery
14.5 INGPELLET Pte. Ltd.
14.6 Enviva Holdings, LP
14.7 Enito Singpellet Pte Ltd
14.8 Groupe Savoie Inc.
14.9 Wood Pellet Energy (UK) LTD
14.10 Energex Ltd.
14.11 Rentech, Inc.
14.12 Drax Group plc
14.13 Andritz AG .
14.14 Premium Pellet Ltd.
14.15 I.C.S. (Lacroix) Lumber Inc.
14.16 Georgia Biomass, LLC
14.17 German Pellets GmbH
14.18 F.E. Wood & Sons
For more information about this report visit https://www.researchandmarkets.com/r/9sx0hz
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