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Biomass Pellets Market is expected to reach US$ 16,137.89 million by 2030

Biomass Pellets market to grow at a CAGR of 4.9% from 2022 to 2030. Adoption of biomass pellets for animal bedding to bolster market growth

By The Insight Partners

Adoption of Biomass Pellets for Animal Bedding to Bolster Biomass Pellets Market Growth

According to our latest study on “Biomass Pellets Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Source and Application” the biomass pellets market size was valued at US$ 11,001.59 million in 2022 and is expected to reach US$ 16,137.89 million by 2030; it is estimated to register a CAGR of 4.9% from 2022 to 2030. The report highlights key factors driving the biomass pellets market growth and prominent players along with their developments in the market.

Biomass pellets are widely used in power generation plants and industrial steam generation. Pellets are co-fired in coal power plants and mono-fired in converted coal power plants. They are also used in residential and commercial buildings for heat generation. Small and uniform-sized biomass pellets are used for animal bedding applications. In residential heating applications, biomass pellets are considered a convenient source of fuel for stoves and boilers.

Biomass Pellets Market Breakdown – by Region

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00009220

Biomass pellets are effective and convenient bedding materials that are used in animal bedding applications. Biomass pellets are made from compressed sawdust and other wood fibers, formed into cylindrical shapes with diameters ranging from 6 to 8 mm. Wood pellets have several characteristics, specifically high absorbency, attributed to low moisture content and dense composition. Further, wood pellets can be spread evenly over the animal bedding area, forming a cushion and absorbent layer. Biomass pellets also have odor-absorbing properties, which aid in minimizing unpleasant odors, as these are easy to clean and compost. The demand for wood pellets for bedding has increased for horse bedding applications in the past few years. The adoption of biomass pellets for animal bedding applications has further prompted manufacturers and organizations to invest in research and development projects related to wood pellets. For instance, in 2019, European Commission, under Horizon 2020 program, funded approximately US$ 9.09 million for the ECO-Pet project. The project aims to develop value-added products such as wood pellets from residuals of the sawmilling process and disused wood waste from conifers and hardwoods. The developed wood pellets were durable, absorbent, and 38% cheaper than other animal bedding products. The ECO-Pet project is aligned with European Commission’s Circular Economy Strategy. Thus, the adoption of biomass pellets for animal bedding is contributing to the biomass pellets market growth.

A few players operating in the global biomass pellets market include Drax Group Plc, Enviva Inc, AS Graanul Invest, Lignetics Inc, Valfei Products Inc, Mallard Creek Inc, Energex American Inc., Wismar Pellets GmbH, UAB Redal Ltd, and Premium Pellet Ltd. Players operating in the global biomass pellets market focus on providing high-quality products to fulfill customer demand.

Impact of COVID-19 Pandemic on Biomass Pellets Market

The COVID-19 pandemic has adversely altered the status of the chemicals & materials sector and negatively affected the biomass pellets market growth. The implementation of measures to combat the spread of SARS-CoV-2 has aggravated the situation and negatively impacted the growth of various industries. As a result, there was a sudden distortion in operational efficiencies and disruptions in the value chains; many industries faced several challenges owing to the shutdown of national and international boundaries. The COVID-19 pandemic has negatively impacted the import and export of biomass pellets in different countries, hampering the biomass pellets market growth. The shortage of wood pellets due to the COVID-19 pandemic caused prices to increase rapidly across the globe. However, several companies operating in the manufacturing industries revived their businesses owing to the ease of restrictions. Hence, the demand for biomass pellets is rising across the globe, especially among the residential and industrial sectors.

The report includes the segmentation of the biomass pellets market as follows:

The global biomass pellets market is bifurcated on the basis of source and application. Based on source, the biomass pellets market is segmented into agricultural residue, industrial waste, wood, and others. Based on application, the biomass pellets market is segmented into power plants, industrial heating, residential and commercial heating, and others. By geography, the biomass pellets market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America biomass pellets market is further segmented into the US, Canada, and Mexico. The market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific biomass pellets market is further categorized into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America biomass pellets market is further categorized into Brazil, Argentina, and the Rest of South & Central America.

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