Wood Pellets Market Technology 2021: Business Growth, Trend and Forecast 2027

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Wood Pellets Market to at over 15 CAGR from 2021
to 2027 Global Market Insights, Inc.
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Overview of Wood Pellets Market

• The deadly coronavirus pandemic has been
  presenting risks of major disruptions across the
  industrial sector and the global economy. The
  supply chain of wood pellets, however, displayed
  remarkable resilience in regions including the
  U.S., demonstrating a significant way of
  maintaining the wood-based bioenergy supply chain
  despite a major economic disruption.
• To effectively support energy transition and
  achieve the target of clean energy sources,
  several policies have also been modified and put
  into place, adding impetus to the expansion of
  the wood pellet market over the years ahead.
• In keeping with this trend, the Ministry of Power
  of India, for example, set up the National
  Mission on the use of biomass in coal-based
  thermal power plants to mitigate air pollution
  and carbon footprints. Also, NTPC placed an order
  of 9,30,000 tons of biomass pellets for power
  plants to improve air quality in October 2021,
  contributing to the rising popularity of wood
  pellets for industrial fuel applications.

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• Wood pellet, a compressed form of wood biomass,
  is rapidly emerging as a clean and sustainable
  form of energy and is being used extensively in
  boilers and stoves in place of alternatives like
  fossil fuels.
• Cost-effectiveness As compared to other energy
  sources, the prices of wooden pellets have
  remained relatively steady over the past decade.
• Low carbon emission Pellet fuel produces 1/10th
  of the carbon as heating with oil. The carbon
  footprint can be significantly reduced, given the
  sustainable management of the forest the pellet
  material is sourced from. Also, burning pellets
  results in lower carbon emissions than from trees
  left to decompose in the forest.
• Environment-friendliness There are no harmful
  extracts and chemicals included in the use of
  wood pellets. The product is also made from
  scratch using renewable energy and high-quality
  material from trees available in sustainable
  forests.
• Environment-friendliness There are no harmful
  extracts and chemicals included in the use of
  wood pellets. The product is also made from
  scratch using renewable energy and high-quality
  material from trees available in sustainable
  forests.

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• In view of the massive business disruptions
  fueled by the COVID-19 outbreak, numerous power
  generation companies are placing major emphasis
  on bringing new job opportunities, to boost
  economic recovery. They are also playing a key
  role in combatting climate change through
  investment strategies for the heightened
  production of sustainable biomass.
• Citing an instance, in May 2021, Drax Group
  unveiled plans to launch a project worth 40
  million to develop three wood pellet production
  facilities in Arkansas, which was aimed at having
  a combined capacity of over 120,000 kt/yr. These
  U.S.-based plants were also geared towards
  supplying renewable biomass to the power station
  in the UK, thereby strengthening the wood pellet
  market outlook in the region.
• Wood pellets for heating applications are
  considerably gaining traction in residential
  settings in recent years. Such factors are
  influencing companies to undertake innovative
  steps to capitalize on attractive tailwinds in
  the residential pellet heating, grilling, as well
  as wood-based pet litter.

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• For instance, in November 2021, EagleTree Capital
  LLC bought Lignetics Inc., a company that deploys
  over 2 million tons of wood waste per year to
  make around 1.4 million tons of wood pellets for
  myriad applications, including home heating,
  barbecues, and horse bedding.
• Under the agreement, the pellet manufacturer is
  targeting to leverage growth opportunities in the
  barbecue pellet brands, which in turn, will
  enhance wood pellet market penetration over the
  years ahead.

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