Wood Pellet Market by Applications, Grade & Regional Growth by 2019-2025




A detailed analysis of the Wood Pellet Market is entailed in this research report. The driving forces responsible for propelling the growth graph of this vertical in addition to the regional and competitive trends are mentioned in the study. A comprehensive document comprising details about vital parameters such as the industry ecosystem analysis, market segmentation, and the vendor matrix, the Wood Pellet Market report also contains information on the pivotal industry insights for core players to look out for.

Growing energy demand and the need to lower coal consumption are some of the key reasons propelling wood pellet market trends. Many countries have observed the rising adoption of energy sources and extensive imports of coal and petroleum-based fuel owing to the inefficient domestic sources. Reports estimate that in 2017, South Korea had been the eight largest consumer of energy sources globally.

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It is projected that global wood pellet market size would exceed USD 19 billion by the end of 2025. Regional governments are also taking various initiatives to increase the dependency on renewable sources as these renewable technologies are proven reliable and provide the lowest-cost power generation options in many areas.

For instance, the Korean government had unveiled plans to expand the market share of renewable energy generation from 7% in 2018 to 20% by the end of 2030. Described below are few aspects outlining wood pellet industry forecast over the coming years.

Rising adoption of renewable energy

As electricity demand escalated, supply depended largely on fossil fuels which contribute tremendously towards global warming. Since fossil fuels are limited in supply, countries are now adopting alternative sources of energy to minimize the deteriorating effects of climate change.

With the rising temperature and climate alterations, the Government of Canada has amended new regulations associated with greenhouse gases in order to replace coal-fired plants. Presently, coal-fired electricity depicts nearly 70% of the GHG emissions from electricity sector in the region.


This initiative will lower the carbon emission rate by nearly 12 million tons and will certainly surge the consumption from renewable sources by 2030. Favorable government policies and increasing efforts to curb the carbon emission will positively generate demand for renewable sources in Canada and accelerate wood pellet market size in the near future.

Deployment of biomass for power generation

Growing interest in renewable energy for electricity has surged the demand for biomass in many countries including UK, Belgium, the Netherlands, South Korea, and Denmark. These countries have increasingly implemented sustainability criteria for using biomass to produce electricity.

Biomass is expected to play a significant role in achieving these criteria and also be used to generate bioelectricity. In addition, notable initiatives like Sustainable Biomass Program certification schemes will certainly increase the production of biomass globally.

The cost-effectiveness of biomass for power and heat generation in these regions has been the main driver of increased demand for biomass energy. Such advancements and steps taken to improve power management across the globe will fuel wood pellet industry outlook.

Importance of industrial heating applications

Standard grade wood pellets will witness substantial demand throughout the estimated timeline. This product is extensively deployed in heating applications for public buildings, residential & commercial structures, and small- and large-scale electrical utility plants.

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The product holds moisture content (<10%) and ash content (<2%) as well as generates very fine particles like utility grade. Reports estimate that industrial heating segment will account for more than 30% of total wood pellet market share by 2025.

Evidently, the rising consumption of power in emerging economies and shifting consumer preferences towards renewable energy sources, along with mounting focus on bio-based products for electricity generation, will influence wood pellet industry share in the coming years.

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Wood Pellet Market by Applications, Grade & Regional Growth by 2019-2025 Wood Pellet Market by Applications, Grade & Regional Growth by 2019-2025 Reviewed by snehal on October 17, 2019 Rating: 5

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