Wood Pellets Market Surging at
11% CAGR Driven by Increasing
Application in Commercial and
June 25, 2021 Press Offfice Press Release 0
The global wood pellets market is anticipated to grow steadily at 11% CAGR
between 2021 and 2031. Rising concerns about environmental protection from
pollution generated by fossil fuel and government incentives for adoption of
sustainable alternatives are driving wood pellets market.
Wood pellets are renewable energy sources which are derived from sawdust, wood
shaving, and wood dry chips. Agricultural wood and wood waste are major sources
of wood pellets due to their ease of availability and lower production cost.
Increasing applications of alternative fuels compared to traditional sources will
create opportunities for wood pellets market sales.
Government initiatives adopted in major countries such as Germany, UK, and
France are encouraging renewable energy sources development. France is planning
to convert its Cordemais plant (1,200 MW capacity) from coal-based to one that
burns pellet fuel obtained from discarded wood by 2022. Such initiatives are likely
to boost the wood pellet market share demand in coming years.
“Pellet based power plant is gaining traction as a preferred alternative for coal-based
power plant. As a result, increasing demand for carbon neutral and sustainable fuel is
MARKET RESEARCH BLOG
EMPOWERING MARKET RESEARCHERS WITH THE MOST COMPELLING INDUSTRY INSIGHTS
at 11% CAGR
The global wood pellets market
is anticipated to grow steadily at
11% CAGR between 2021 and
2031. Rising concerns about
environmental protection from
pollution generated […]
bolstering wood pellets market growth,” aid an FMI analyst.
Stringent regulations imposed to curb carbon emissions are driving sales