NEWARK, Del, Jan. 12, 2023 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), Europe black & wood pellets market is projected to grow at a firm 9.0% CAGR during the assessment period from 2022 and 2032. Overall black & wood pellet sales across Europe are projected to total a market valuation of US$ 25,812.9 Mn by 2032.
Rising usage of black & wood pellets in power and heat generation applications is a crucial factor expected to drive the market across Europe during the projection period. The Europe black & wood pellets market is expected to be dominated by countries like Germany, the U.K. & Italy and this trend is predicted to continue during the forecast period.
Black & wood pellets are an eco-friendly, renewable, sustainable, and clean kind of biomass. The market for black & wood pellets is rising due to the increased need for renewable energy worldwide and growing focus on limiting the use of fossil fuels that contribute to global warming.
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Demand for black & wood pellets across Europe will also be driven by growing environmental concerns and rising government incentives toward sustainability.
People in colder climates choose wood pellet stoves because natural gas is more expensive than wood pellets. Wood pellets are becoming extremely prevalent as a low-cost domestic heating option. However, because of the superior features of black pellets, the black pellets market is predicted to rise at a rapid pace.
Wood pellets are widely consumed for various applications in European countries such as the United Kingdom, Italy, Germany & others. The increasing cost of energy and electricity, and fluctuations in the oil & gas industry are propelling the demand for renewable products for power generation
The demand for black & wood pellets in the industrial sector is increasing as the pellet-based power plant gains popularity as a preferred substitute for coal-based power plants. Additionally, governments all over the world are eager to promote the use of renewable energy in the transportation, industrial, and residential sectors.
Subsequently, consumers in industrialized nations like Europe are more environmentally conscious and continue to rely more and more on renewable energy resources. All these developments will positively impact black & wood pellet sales over the next ten years.
“Over the assessment period, sales of black & wood pellets are expected to be driven by the growing need for renewable energy sources for power generation & heat generation application,” says an FMI analyst.
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Key Takeaways:
- By type, wood pellets segment is projected to hold approximately 90-97% of the total market share in 2022 while black pellets segment is set to grow at the fastest CAGR of 9.6% through 2032.
- The torrefaction sub-segment of the black pellets segment is anticipated to grow at 9.5% CAGR through 2032.
- By application, heat generation sub-segment of black pellets is set to grow at 10.0% CAGR during the forecast period.
- The industrial pellet for CHP/district heating segment is expected to reach about US$ 4,680.9 Mn by the end of the forecast period.
- The black & wood pellets market in the U.K. is expected to create an incremental $ opportunity of US$ 4,692.8 Mn during the forecast period.
- Germany’s black & wood pellets market is forecast to total a valuation of US$ 2,626.7 Mn by 2032.
Who is Winning?
Key market participants of the Black & Wood Pellets market elaborated in the report include Idemitsu Kosan Co., Ltd., Blackwood Technology, Zikha Biomass Energy, Arbaflame AS, TTCL Public Company Limited, Verdo Holding A/S, Airex Energie Inc., Graanul Invest, Iwatani Corporation, Land Energy Girvan Limited, Schwaiger Holzindustrie GmbH & Co. KG, Holzwerke Weinzierl GmbH, Balcas Energy, Enviva LP, Drax Group, Ambienta Biomasse, & Naparpellet.
To enhance their market presence and gain greater market shares, prominent market participants are actively focusing on acquisitions, collaborations, and geographical expansions.
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Europe Black & Wood Pellets Industry by Category
By Type:
- Black Pellets
- Torrefaction
- Steam Explosion
- Hydrothermal Carbonization
- Wood Pellets
- Forest Wood & Waste
- Agriculture Residue
- Others
By Application:
- Black Pellets
- Power Generation
- Heat Generation
- Wood Pellets
- Free Standing Pellet Stove
- Pellet Stove Insert
- Pellet Boilers
By End Use:
- Black Pellets
- Residential
- Commercial
- Industrial
- Others
- Wood Pellets
- Industrial Pellet for CHP/District Heating
- Industrial Pellet for Co Firing
- Pellets for Heating Residential/Commercial
- Others
By Country:
- Germany
- Italy
- France
- The U.K.
- Spain
- BENELUX
- Russia
- Rest of EU
Table of Content
1. Executive Summary
1.1. Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
5. Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032
5.1. Historical Market Volume (KT) Analysis, 2017 to 2021
5.2. Current and Future Market Volume (KT) Projections, 2022 to 2032
5.3. Y-o-Y Growth Trend Analysis
Complete TOC with Report Preview: https://www.futuremarketinsights.com/reports/europe-black-and-wood-pellets-market
About FMI – Chemicals and Materials
The Chemicals and Materials division of FMI offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives’, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
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