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Biomass Pellets Industry
The global biomass pellets market is growing due to rising environmental concerns and the need to combat climate change.
WILMINGTON, DE, UNITED STATES, October 21, 2024 /EINPresswire/ — A report from Allied Market Research reveals that the biomass pellets market, valued at $9.5 billion in 2023, is expected to reach $16.0 billion by 2033, with a CAGR of 5.4%.
Key Drivers of Growth
The demand for renewable energy, supported by government policies and technological advancements, is fueling market growth. However, challenges include high initial costs and supply chain issues.
Market Highlights
- Forecast Period: 2024-2033
- Base Year: 2023
- Market Size (2023): $9.5 billion
- Market Size (2033): $16.0 billion
- CAGR: 5.4%
- Report Length: 290 Pages
- Segments: Source, Application, and Region
- Key Drivers: Renewable energy demand, government support
- Opportunities: Technological innovation
- Restraints: High initial costs
Source and Application Insights
The Forest & Wood Waste segment is expected to lead the market due to a stable supply of materials and high energy content. In power generation, biomass pellets are used for electricity production and emission reduction.
Regional Outlook
The Asia-Pacific region, particularly China, Japan, South Korea, and India, is projected to dominate the biomass pellets market, driven by resource availability and supportive government policies.
Key Players
Major companies in this market include:
- Enviva, Inc.
- Drax Group plc
- Forest Energy Corporation
- Energex Corporation
- Buhler AG
- Sumitomo Corporation
- JP Green Fuels
- Ecostan Biofuel
- Zilkha Biomass Fuels
- Fram Fuels
These companies focus on new product launches, collaborations, and joint ventures to enhance their market presence.
About Us
Allied Market Research (AMR) offers high-quality market research and consulting services to businesses of all sizes. Our CEO Pawan Kumar emphasizes data accuracy and client success through comprehensive research methodologies.
Contact:
David Correa
Allied Market Research
+1 800-792-5285
email us here
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