Biomass Pellets Market is Expected to Expand at a CAGR above 8% by 2029
VALLEY COTTAGE, N.Y. – Future Market Insights’ new market research report titled, ‘Biomass Pellets Market: Global Industry Analysis 2014–2018 and Opportunity Assessment 2019–2029′, investigates the biomass pellets market, and provides critical insights for the forecast period 2019 to 2029. As per the findings of the report, the global biomass pellets market is projected to experience significant growth over the forecast period, because of multiple driving factors such as increasing utilization of biomass pellets in coal-fired boilers in industries, and also in commercial and domestic heating applications.
The global biomass pellets market was valued at around US$ 9 Bn in the year 2018, and is expected to expand at a CAGR above 8% over the forecast period of 2019-2029. Several government policies are being implemented across geographies that are favoring the utilization of efficient bio-fuels such as biomass pellets as a replacement for fossil-based fuels. This has significantly created demand for biomass pellets, and this demand is expected to grow at a very high rate over the forecast period.
Download the sample copy of Report with table of contents and Figures @ https://www.futuremarketinsights.com/reports/sample/rep-gb-7175
East Asia Projected for Significant Growth Opportunities
Over the past years, Europe has been one of the key prominent regions in terms of the production and consumption of biomass pellets. However, other regions such as East Asia have emerged as lucratively growing regions in the global biomass pellets market. This has resulted from the significant growth of the markets in East Asia countries such as China, South Korea, and Japan.
China is one of the prominent hubs of industries and that use coal-based boilers. This creates ample opportunities of demand for biomass pellets that can be used as a replacement or co-fired with coal in these industries.
Furthermore, the demand in South Korea and Japan for biomass pellets has witnessed a significant hike over the past years. As a consequence, East Asia, as a whole, projects significant growth opportunities for the global biomass pellets market over the forecast period.
Sales of Wood Sawdust-Derived Biomass Pellets to Remain Prominent
The market has been segmented on the basis of different sources of biomass pellet production and on the basis of their multiple end uses, besides the seven prominent regions of the world.
Buy this report @ https://www.futuremarketinsights.com/checkout/7175
- On a global level, wood sawdust is the prominent source of biomass pellet production. The growth in the sales of biomass pellets from this segment is projected to be significant over the forecast period. However, other sources are expected to gain market share over the forecast period.
- Industries with installed coal-based boilers consume a fair share of the global biomass pellets market volume. This consumption is expected to increase further over the forecast period.
- Government policies regarding carbon emissions from industries are changing across geographies in order to achieve their goals and targets of sustainable development. They have become stricter towards the quantity of carbon emitted from industries. As a consequence, industrialists are bound to use biomass pellets in co-firing applications in order to reduce their carbon content and also the cost expenditure over fuels. As a consequence, prominent demand for biomass pellets is being witnessed from industries on a global level.
Our advisory services are aimed at helping you with specific, customized insights that are relevant to your specific challenges. Let us know about your challenges and our trusted advisors will connect with you: https://www.futuremarketinsights.com/askus/rep-gb-7175
More from Chemicals & Materials :
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
Mr. Abhishek Budholiya
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
T (UK): + 44-(0)-20-7692-8790
Press Office: Press@futuremarketinsights.com
Blog: Market Research Blog