Rising environmental concerns coupled with an increase in carbon emission levels is prompting countries to shift towards cleaner fuel alternatives. As a result, demand for fuels like wood pellets, black pellets, and wood charcoal is on the rise.
Black and wood pellets are types of biomass pellets used as a renewable and sustainable fuel source. Black pellets, also known as torrefied pellets, are produced by subjecting biomass to a torrefaction process, resulting in a more energy-dense and water-resistant fuel. Wood pellets are made from compressed sawdust or other wood residues. Both types of pellets are widely used in residential, commercial, and industrial heating systems, as well as in power generation.
According to Future Market Insights (FMI), Europe black & wood pellets market size 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 Million 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.
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.
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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.
Key Takeaways:
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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.
Europe Black & Wood Pellets Industry by Category
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Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
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Jul 12, 2023
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