Global Wood Pellets Market Benefits from Supportive Government Regulations

The global sustainability drive predominantly makes it imperative to shun the reliance on conventional fossil fuels and rather adopt renewable energy sources. This remains the key driving force behind wood pellets market growth. With multiple countries in agreement with the Paris Climate Change Agreement, wood pellets manufactured from wood shavings, and sawdust continue to garner popularity as they favour the environmental health when compared to their conventional counterparts.

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Prospects of Clean Energy Generation Uplift Wood Pellets Market

Fairfield Market Research in its latest upcoming study intends to assess how the growth of global wood pellets market will unfold over the course of next few years. The report marks growing adoption of wood pellets by thermal industries that eye the long-term objective of clean energy generation. Escalating demand for renewable energy sources, coupled with favourable government regulations around the use of wood pellets at power plants, will bolster the growth of wood pellets market.

Demand Sees a Measurable Surge with Growing Adoption for Heating Applications

Over the recent past, demand for wood pellets has witnessed a notable rise in heating applications. They are used in heating applications across both the commercial and residential sectors, mainly for cooking, and heat generation. Price drop has been a booster to wood pellet sales in 2020, attributing to the oversupply through the year. In addition, subsidisation, and incentivisation by governments will further push the use of wood pellets in heating applications, thereby extending a significant contribution toward the growth of wood pellets market.

Europe Holds Promise to Present Lucrative Growth Avenues to Companies

In 2020, Europe's wood pellet production reached in excess of 18 MT, which continues to place the region as the top producer worldwide, led by Germany. As far as consumption is concerned, there has been an impressive 7% rise in the same in 2020. Majorly driven by the key applications like residential heating, commercial heating, and power plants, around 75% of the global demand for wood pellets continues to come from Europe. Countries in the EU have been exhibiting higher growth potential on the back of the proliferating demand-supply scenario. While the Wood Resource Institute estimated around 85% of wood pellets production to be from sawmill residues, followed by roundwood and recovered wood, the analysis by Wood Resources International (WRI) indicates wood residues to remain a key feedstock. The same analysis further expects the wood pellets demand to soar by 40% in European countries over the course of next five years. EU-27 will remain the largest consumer and Europe continues to be the most profitable go-to-market for wood pellet manufacturers.

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Global Wood Pellets Market Players

Drax Group Plc, Segezha Group JSC, Enviva, Fram Renewable Fuels LLC, and AS Graanul Invest constitute some of the key companies stirring competition in global wood pellets market space. Research suggests that leaders in wood pellets landscape will continue to prefer M&A, and capacity expansions for better market positioning throughout the period of forecast.

Global Wood Pellets Market is Segmented as Below:

By Application
• Heating Applications
• Residential Heating
• Commercial Heating
• CHP (Combined Heat and Power)
• Power Generation

By Feedstock
• Forest and Wood Waste Resources
• Agricultural Residue and Waste
• Food Waste
• Virgin Lumber
• Energy Crops

By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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