Global Wood-Pellets Market Is Valued At 4536.27 Million USD In 2018 And Is Expected To Reach 7064.73 Million USD By The End Of 2025
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Wood pellet is a solid fuel that is produced by crushing and densifying waste timber like sawdust, forestry residues, industrial byproducts like old paper and forestry wastes. The Wood pellet is mainly used for Power Generation, Industrial Furnace, Civil Use, etc. And Power Generation is the largest usage with the share of about 52%, followed by Civil Use (22%).
In 2018, about 26.8 billion MT of Wood pellets are produced worldwide, generating the revenue of about $ 4121 million. The compound annual growth rate (CAGR) will maintain around 3.17% percent between 2018 and 2025 as predicted by the report, the global sales in 2025 will reach 33 billion MT and $ 7064 million revenues.
North America (USA and Canada) is the biggest producer for wood pellets, and produced about 16 billion MT (more than 51% of the global total) of wood pellets in 2017. Europe is the other key producer of the wood pellets market with the share of about 28%. USA, Canada, Germany, Russia, Latvia, and China, etc. are other key country producers of the product, the five took up more than 70% of the market.
Europe and North America are the two largest consumption markets of wood pellets in the world in the past few years and it will keep the same position in the next years. Sales volume of the Europe took up about 57% the global market in 2017 while North America took up about 21%. And North America is the largest exporter of Wood pellets in the world at present. China is the third largest market in the report with a consumption share of about 9% in 2017. Other key markets are Korea, Japan, etc. which have the large potential demand.
Currently, Enviva, Graanul Invest Group, Pinnacle, Rentech, Vyborgskaya Cellulose, Innogy (RWE), Aoke Ruifeng, Lignetics, Fram Renewable Fuels, Drax Biomass International, DEVOTION, Pacific BioEnergy, Protocol Energy, PFEIFER, Viridis Energy, Senon Renewable Energy, BTH Quitman Hickory, Enova Energy Group, Equustock and Energex are the wellknown players in the global Wood pellets market, and the 20 players took up about 52% of the global market in 2017. Aoke Ruifeng, DEVOTION, Dalin Biological, Senon Renewable Energy are four of the top suppliers in China; and Enviva, Lignetics, Fram Renewable Fuels, Lignetics, Fram Renewable Fuels, Innogy (RWE) and Drax Biomass International are leader in India; Pinnacle, Rentech, Pacific BioEnergy in Canada and Graanul Invest Group from Latvia are the world key producers of Wood pellets at present.