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The unprecedented demand for energy has intensified the high consumption of conventional source of energy which is on the verge of depletion. Traditional fuel sources not only produce harmful carbon emission but they are also limited. In the context of reducing the straining demand for conventional fuel sources, renewable energy sources are gaining popularity. Wood pellets are the typical example of a renewable fuel source. It is made from dried biomass that has been finely powdered and passed the pellet dye at high temperature and pressure.
The raw material used for wood pellets generally includes milling of lumber, the leftover of wood products and furniture, industrial waste and co-products, food waste, agricultural residues, energy crops, etc. Wood pellets have high energy density and emit low carbon as compared to other alternative fossil fuels. They are essential for producing heat and power by using wood leftover which causes a major dumping problem.
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On the basis of feedstock, the global wood pellets market can be segmented into forest wood waste, agriculture waste, and others. Forest wood pellets include forest residuals such as timber, logging residue, mill residue, etc. It gives high energy density and low carbon emission as compared to other feedstock which tends to augment in demand for wood pellets.
On the basis of application, the global wood pellets market can be segmented into power generation, residential heating, commercial heating, and CHP. The use of wood pellets in the Pellet boiler improves the energy efficiency and reduce the carbon emission which helps to increase in the demand for wood pellets. In residential wood pellets are used for the space heating purpose is expected to significant growth in the wood pellets market.
The wood pellets are eco-friendly renewable energy source widely used across different industries to produce heat and power with low carbon emission is expected to increase the growth of the wood pellets market. Its cost is economically viable compared to traditional fuel source is driving the wood pellets market
The factor that is expected to inhibit the growth of the wood pellets market is during the manufacturing process it creates wood dust, which has a harmful effect on health such as asthma and lung cancer, allergic reactions, irritation to the skin, and nasal cancer.
Some of the major companies that are present in the wood pellets market are Enviva, Andritz AG, Energex, Rentech Inc., Bluesky Biomass Georgia, German Pellets, Drax Biomass, The Westervelt Company, Singpellet Pte Ltd., F.E. Wood & Sons, Wood Pellet Energy (UK) Ltd., Pinnacle Renewable Energy Group, and Snow Timber Pellets LLC.
· Forest Waste
· Agriculture Waste
· Power Generation
· Residential Heating
· Commercial Heating
· North America (the USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico, and Rest of Latin America)
· Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
The global wood pellets market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is paving the way for the development of the wood pellets market owing to its enormous use in the biomass power station. Countries are focussing on balancing the limited traditional fuel sources by introducing an alternate energy source to mitigate the increased carbon emission. Europe is leading in the production of wood pellets as the European Union is promoting green energy policies to combat serious environment pollution due to rapid burning of fossil fuel. Germany, Sweden, Austria, Latvia, Estonia, France, etc. showing a tremendous production rate of wood pellets due to the high demand for space heating, domestic and industrial purpose. The Asia Pacific has the largest potential market due to the enormous demand for heat and power. China has revised its environmental policy in which it prohibits the use of coal in industrial steam boiler smaller than 7MW. India considered as one of the fastest-growing economies in the world with tremendous demand for energy. The unorganized grid structure and unavailability of LPG for cooking in rural areas are expected to increase the wood pellets market growth.
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