The Asia Pacific Biomass Pellets market is segmented by type, source, application, and geography. Based on type, the market includes agri-pellets, torrefied pellets, wood pellets, and others. In terms of source, it is divided into industrial waste, energy crops, food waste, agricultural residue, virgin wood, and others. For application, the market is segmented into industrial heating, residential heating, power generation, and others. The market analysis covers major countries in the Asia Pacific region such as India, China, Japan, Australia, and the rest of the Asia Pacific. Market forecasts and sizes for each segment are provided in terms of value (in USD billion).
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Asia Pacific Biomass Pellets Market Dynamics:
Biomass pellets are a renewable, clean-burning, and cost-efficient fuel option that minimizes pollutant emissions while enhancing the thermal value of biomass waste. They emit a negligible amount of greenhouse gases, making them a suitable alternative to traditional fuels like coal. As a result, they are commonly used in stoves, boilers, and as a substitute for coal in power plants.
In an effort to mitigate air pollution, India has made it mandatory for certain coal-fired thermal power plants to blend biomass pellets with coal. Specifically, a 5% blend of biomass pellets with coal is required in these plants. This initiative is aimed at reducing air pollution caused by the burning of agricultural waste, which is commonly practiced by farmers in northern Indian states to clear rice stalks and straw for new crops. This burning typically leads to severe air pollution during the fall season, resulting in smog across the region.
The benefits of biomass pellets, including ease of transport and storage, efficiency, low carbon emissions, scalable combustion, and reliability, have increased their popularity among users looking to reduce emissions and costs. As a part of efforts to reduce greenhouse gas (GHG) emissions, the energy sector is increasingly adopting wood pellets as a replacement for fossil fuels, which is expected to positively influence the future market outlook.
Market Restraints:
The growth of the biomass pellets market is hindered by high extraction costs, expensive raw materials, and low product quality. However, favorable government policies and the increasing focus on renewable energy sources present lucrative opportunities for market players during the forecast period.
Biomass pellets, particularly those derived from agricultural waste, serve as a renewable energy source for both heat and electricity generation. This has given rise to new businesses centered around renewable energy production. Biomass pellets are a critical source of thermal energy and power generation.
Asia Pacific Biomass Pellets Market Segment Analysis:
By Type: The wood pellets segment is projected to witness a CAGR of 16.5% from 2024 to 2030, reaching over USD 10.92 million by 2030. The demand for wood pellets is expected to rise due to the increasing deployment of renewable energy plants across Asia. Wood pellets, with advancements like torrefaction, hydrothermal carbonization, and thermal decomposition, are now a viable alternative to coal. With the Asia Pacific region hosting the largest number of coal power plants, wood pellets are expected to see growing adoption.
By Source: The industrial sector is anticipated to account for over 35% of the biomass pellets market by 2030. This is driven by the increased use of pellets in combined heat and power (CHP) plants and the growing trend of converting coal-fired plants to biomass facilities.
By Application: Biomass pellets find significant use in cooking, grilling, and home heating within the residential and commercial sectors. Due to long-term price stability, pellets have become a cost-effective fuel option, making them attractive for these sectors. Additionally, oversupply has led to a noticeable drop in wood pellet prices.
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Market Key Players:
Abelen Clean Energy Limited ( India)
Ecostan ( India)
JP Green Fuels ( India)
Dabin Pellets and Charcoal Manufacturing ( China)
ECO Smart ( India)
J.K.Biofuel(India)
S.K.Jindal(India)
Shb Chemicals (India)
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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