Solid Biomass Feedstock Market

Solid Biomass Feedstock Market Size & Share - Future Growth Expectations

The global solid biomass feedstock market size is projected to reach USD 36.2 billion by 2029 from an estimated USD 26.6 billion in 2024, at a CAGR of 6.3% during the forecast period. The major factors driving the growth of this market include the rising environmental concerns, increasing focus on renewable energy, and the growing demand for alternative to fossil fuels.

The solid biomass feedstock market has been experiencing significant growth as a result of multiple important factors.

  • Renewable Energy Policies
  • Transition to Clean Energy
  • Energy Security and Diversification
  • Waste Utilization and the Circular Economy
  • Market Demand for Sustainable Products
  • Development of the Bioeconomy

To know about the assumptions considered for the study download the pdf brochure

Renewable Energy Policies:

  • The solid biomass feedstock market is being driven by government initiatives and renewable energy policies that aim to increase energy security and reduce greenhouse gas emissions. The use of biomass for energy generation is encouraged by the establishment of supportive policies including feed-in tariffs, tax breaks, and renewable energy requirements by numerous nations, who have set renewable energy targets.

Transition to Clean Energy:

  • As the globe moves away from fossil fuels and toward greener, more sustainable energy sources, biomass is becoming more and more popular as a renewable energy substitute. Wood pellets, forestry, agricultural, and energy crop wastes are examples of solid biomass feedstock that can be used as fuel in heating systems, industrial operations, and biomass power plants. This helps the energy industry become less carbon-intensive.

Energy Security and Diversification:

  • By providing a dependable and readily accessible local energy source, solid biomass feedstock helps to mitigate reliance on imported fossil fuels and improve energy security. Domestic woods, agricultural fields, and waste streams are good sources of biomass resources, which offer a varied energy supply and reduce the risk of volatile fuel costs and geopolitical unrest.

Waste Utilization and the Circular Economy:

  • By utilizing renewable resources and reducing trash creation, biomass feedstock made from forestry leftovers, agricultural byproducts, and organic waste streams fosters the circular economy. The process of converting biomass into energy, such as biomass boilers, biogas plants, and bioenergy facilities, allows for the effective use of organic materials while lowering landfilling and contamination of the environment.

Market Demand for Sustainable Products:

  • Investments in biomass supply chains and certification programs are being driven by rising consumer knowledge of and demand for sustainable products and green energy sources. Programs for certification, such the Forest Stewardship Council (FSC) and the Sustainable Biomass Program (SBP), guarantee that the biomass feedstock comes from farms and forests that are managed responsibly, fulfilling social and environmental standards.

Development of the Bioeconomy:

  • The solid biomass feedstock  market has grown as a result of the bioeconomy's rise, which attempts to use renewable biological resources for the manufacture of materials, energy, food, and chemicals. For bio-based companies, biomass is a flexible feedstock that promotes the growth of bio-refineries, bioproducts, and bioenergy value chains.

The solid biomass feedstock market is anticipated to increase further as more people, businesses, and governments accept biomass as a renewable and sustainable energy source. Maintaining investments in technology, policy support, and biomass supply chains will propel market growth and aid in the shift to a low-carbon, circular economy.

Solid Biomass Feedstock Market Share - Global Industry Landscape

The solid biomass feedstock market is characterized by the presence of several key players competing for market share. Some of the leading companies in the solid biomass feedstock industry include:

  • Drax Group plc (UK)
  • Enviva Inc. (US)
  • REDAL (Lithuania)
  • Stora Enso (Finland)

In order to meet the increasing demand for energy savings and sustainability across a range of industries, these businesses, together with other specialist motor manufacturers and suppliers, compete in the worldwide energy-efficient motor market by providing a variety of products, technologies, and services. Market share in the energy-efficient motor sector may change as businesses innovate, broaden the range of products they offer, and cater to new consumer demands and market trends.

Drax Group plc (UK)

  • Drax Group plc manages a sustainable generation portfolio encompassing biomass, hydroelectric, and pumped hydro storage assets at four locations in England and Scotland. Additionally, the company runs a worldwide bioenergy supply enterprise with manufacturing facilities at 13 sites in the US and Canada. These facilities produce compressed wood pellets for both, internal consumption and external customers in Europe and Asia. The Drax Group plc consists of three distinct business segments: Pellet Production, Generation, and Customers. The company provides solid biomass feedstock within its Pellet Production business segment. It manufactures pellets, consisting of sawmill and forest residuals, along with low-grade roundwood—material of an inferior quality that cannot be utilized in sawmills. These components offer a sustainable, low-carbon fuel source that can be transported safely and efficiently via our worldwide supply network.

Enviva Inc. (US)

  • Enviva is a leading global supplier of sustainable biomass feedstock, primarily wood pellets. The company sources wood fiber from responsibly managed forests and produces wood pellets used for power generation in biomass-fired power plants.

REDAL (Lithuania)

  • REDAL is a company specializing in sustainable wood bioenergy for human indoor living. Engaged in sourcing, production, and distribution of wood pellets and wood briquettes, REDAL ensures that the westward flow of biomass products from Europe’s densely-forested East to the continent’s western parts is as cost-efficient as possible.

Stora Enso (Finland)

  • Stora Enso specializes in the development and manufacturing of solutions derived from wood and biomass, catering to various industries and applications globally. The company assists its customers in fulfilling the need for renewable, environmentally sustainable products. Stora Enso operates as a business-to-business enterprise and stands as a prominent supplier of renewable products in packaging, biomaterials, and wooden construction. Additionally, it ranks among the largest private forest proprietors globally. Stora Enso offers business in these six segments: Packaging Materials, Packaging Solutions, Biomaterials, Wood Products, Forest, and Other. Stora Enso offers solid biomass feedstock in the Wood Products segment; it provides components for windows and doors, as well as by-products like pellets derived from wood residuals. Stora Enso has a geographic footprint spanning Finland, Europe, North and South America, Asia and Oceania, Africa, and Other regions. It operates production units in 12 European countries and maintains five innovation and research hubs across Northern and Central Europe.

Related Reports:

Solid Biomass Feedstock Market by Source (Agriculture, Forest, Municipal), Type (Chips, Pellets, Briquettes), Application (Electricity, Heat, Biofuel), End User (Residential & Commercial, Industrial, Utilities) & Region - Global Forecast to 2029

Solid Biomass Feedstock Market Size,  Share & Growth Report
Report Code
EP 8997
RI Published ON
5/9/2024
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
GET A FREE SAMPLE

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

SEND ME A FREE SAMPLE
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status