Wood Pallet Market:
Growth opportunities in the Wood Pallet market look promising over the next six years. This is mainly due to the rising number of strategic initiatives launched by the government bodies followed by the increasing demand for wood pallets for fuelling the power plants for the electricity production.
Wood Pallet Industry Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The global wood pellet industry is witnessing growth owing to the increasing number of strategic initiatives introduced by the governmental and other associations, which has surged the demand for wood pellet industry in creating its own space in the market. For instance, the British Columbia’s government, in the year 2021 announced to invest USD 25 million contribution with an aim to expand the Port of Prince Rupert. It is a move welcomed by the pellet sector for effective transportation and logistics to market, and it’s good news for the customers in Asia who rely on responsible, renewable, and clean energy from pellets to achieve greenhouse gas (GHG) targets. Therefore, this will further boost the demand of the wood pellet.
As per the wood pallet market report, there has been an increase in the demand for wood pallets in fuelling the power plants for electricity production which is driving the market growth. This is due to the increasing number of power plants in the country. China has stopped using coal-fired boilers in the East and Guangdong provinces. The low cost of the product in the region is further contributing to the market growth. On the other hand, the wood pellet procurement policy is likely to hamper the market growth. For instance, plan such as the “Sustainable Forestry Initiative and Forest Stewardship Council” has restricted the growth of the wood pellet market in North America.
Regional Drivers
On the basis of regional coverage, Europe is projected to grow at a higher CAGR during the forecast period. As per the Europe pellet council in 2017, there has been an increase in the production of wood pellet amounting to 44% of the overall world production. In the UK, wood pellets accounts to 6-8% of the country’s electricity and Canada is among one of the UK’s main suppliers. In 2016, the total wood pellet consumption touched 27,8 million tonnes and witnessed a growth of 6%, responsible for almost 80% of the world’s wood pellet consumption with 22,3 million tonnes. The rising consumption of the product in power generation along with the increasing number of incentives launched by the European Union (EU) are further driving the growth of the wood pallet market in Europe.
Wood Pallet Market’s leading Manufacturers:
- German Pellets GmbH
- Pinnacle Renewable Energy Inc.
- Enviva LP
- Drax Group plc
- International WoodFuels, LLC
- Lignetics,
- Canfor
- Stora Enso
- Piveteau Bois.
Wood Pallet Market Segmentation:
Segmentation by Production:
- Conventional Pellets
- Stream-Treated Pellets
Segmentation by Application:
- Heating
- Power Generation
Segmentation by Feedstock:
- Forest Wood & Waste
- Agriculture
- Residue
- Others
Segmentation by Grade:
- Premium
- Standard
- Utility
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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