Wood chips are small to medium-sized wood fragments formed by cutting and chipping large pieces of wood such as trees, logging waste, branches, roots, stumps, and wood debris. The process of producing wood chips is known as wood chipping. It is accomplished with the assistance of a wood chipper. Wood chippers come in many different shapes and sizes. Each chipper serves a specific purpose depending on the type of wood chip processing. Wood chips can also be made from residual forest products such as tree limbs, tree crowns, unsaleable materials, or undersized trees. Forestry activities provide the raw materials required to produce wood chips. Almost any tree can be converted into wood chips, though the type and quality of wood used in the process are mostly determined by the process.
Wood Chips Market Report Scope and Research Methodology:
The key objective of the report is to provide a comprehensive assessment of the Wood Chips market, including major leading stakeholders in the Wood Chips industry. The assessment clearly shows the forecasted market size and trends, as well as the historical and present status of the Wood Chips market. The report provides information on the Wood Chips market’s revenue, share, production and sales. The report also includes Wood Chips market segment trends, investment and technology with the competitive landscape. It also includes the analysis of the regional as well as market segments, application areas and market growth strategies. An in-depth analysis of the market segmentation assists to determine the prevailing market opportunities and the major segments of the Wood Chips market are further divided into sub-segments.
The report provides a qualitative and quantitative analysis of the Wood Chips market from 2022 to 2029 to identify the prevailing market opportunity. Porter’s five forces analysis highlights the potency of the suppliers and buyers in the Wood Chips industry to enable stakeholders to make profit-oriented business decisions and strengthen their buyer-supplier network. The Wood Chips market study provides unique guidance in thoughtful details regarding the development factors and has used a top-down and bottom-up approach to keep it error-free and accurate. Extensive primary and secondary research methodologies have been used by SMR’s expert analysts to collect the data for the Wood Chips market report.
Wood Chips Market Overview
The Wood Chips Market’s drivers, restraints, technical advancements, product developments, market opportunities, restrictions, growth strategies, and market prospects, as well as the forecast period, have been covered in the report in detail. The report offers an in-depth look at the Wood Chips industry, including key figures such as Wood Chips market size, market share, revenue growth, and CAGR for the forecast period (2021 to 2027).
Wood Chips Market size was valued at US$ 7.50 Bn. in 2020. Global Wood Chips Market is estimated to grow at a CAGR of 10.2% over the forecast period.
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Wood Chips Market Drivers:
Wood pellets, which have gained popularity as a replacement for these chips, pose a serious threat to the industry. High pellet penetration in power production in the residential and commercial sectors could stifle market growth during the forecast period. Furthermore, as sustainable production practices for wood growing and processing become more common, the market is expected to grow. Countries with strict regulatory regimes are expected to increase demand for wood chips. The market for wood chips is expected to expand as consumers become more aware of the products’ use in home heating solutions. Depending on the product, wood chips are available in both softwood and hardwood varieties.
Wood Chips Market Segmentation:
The Wood Chips Market is divided into three product categories: softwood, hardwood, and manual.
In 2020, the Softwood segment held 46% of the market share. The softwood sector is expected to dominate the global wood chips market in terms of product type due to increased demand for softwood products for gardening mulch and playground surfacing around the world.
The Wood Chips Market is divided into five applications: Combined Heat & Power (CHP), Household Furnishing, Residential Heating, Wood Pulp, and Others. In 2020, the Residential Heating segment held 38% of the market share. Residential heating is one of the most common applications for wood chips. The industry is expected to grow as wood chips become more popular in industrial and commercial energy generation. Furthermore, the use of wood chips as a raw material for the production of wood pulp is expected to drive market growth in the near future. Increased demand for wood chips as composting material is another application driving market growth. They can also be used to season and flavor barbecued meats and vegetables.
Wood Chips Market Key Players:
Enviva Pellets
St. Boniface Pallet
American Wood Resources
EVOWORLD GmbH
Boniface Pallet Company Ltd
Mitsui & Co., Ltd.
Oji Holdings
Orsted A/S
Sojitz Corporation
Verdo A/S
Axpo Group
Rentech
Chip Chip
Great Northern Timber
Wood Chips Market Regional Insights:
Major countries in each region are included in the report according to their revenue contribution to the Wood Chips market. The study includes a region-wise detailed analysis of the Wood Chips market. The regions are:
- North America
- Asia Pacific
- Europe
- Latin America
- the Middle East, and Africa
Key Questions answered in the Wood Chips Market Report are:
- What are the sales, production, consumption, and import and export of Wood Chips globally (North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
- Who are the major players in the Wood Chips Industry on a worldwide scale?
- What is the state of business of Wood Chips market players?
- What are the market opportunities and restraints for Wood Chips suppliers in the Wood Chips industry?
- Which application, end-user, or product category might be looking for new growth opportunities? What is each type’s and application’s Wood Chips market share?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2027
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by segments with their sub-segments and Region
- Competitive Landscape – Top Key Players and Other Prominent Players
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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