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Wood Pellet Market of Countries in the World 2023

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Regional Insights

The wood pellets market in North America accounted for a significant revenue share in 2023. The major factors driving the demand for wood pellets in North America include the regional price competitiveness with propane and residential heating oil and the increasing replacement of traditional burners for improving automatic feed-in and comfort. The favorable climatic conditions for heating in residential and commercial buildings are further expected to complement market growth.

U.S. Wood Pellets Market Trends

The U.S. wood pellets market dominated the market with highest revenue share in 2023.  The production of wood pellets in the U.S. is concentrated in the Northeast and Northwest regions, where residues from sawmills are used as raw materials, and the end products are supplied to the residential sector for heating applications. However, rising demand for these pellets from the global market is a key driver for their increasing production in the country.

Europe Wood Pellets Market Trends

The wood pellets market in Europe dominated the market with a revenue share of 82.2% in 2023. This growth is characterized by economies, such as the UK, Sweden, Denmark, Belgium, Germany, Austria, and France. The Feed-in Tariffs (FiTs) program by various EU member states, including the Netherlands, the Czech Republic, Denmark, and Germany, provides financial support for using renewable energy in the generation of electricity, which is expected to drive the demand for these pellets in power plants.

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Germany Wood Pellets Market

The Germany wood pellets market is expected to grow at the fastest CAGR from 2024 to 2003. The country is the third-largest producer of these pellets worldwide after the U.S. and Canada. The presence of a strong wood processing industry coupled with extensive forest areas is expected to maintain a substantial supply of raw materials for manufacturing wood pellets. In addition, the high heating potential of the product is expected to propel their demand over the forecast period.

Asia Pacific Wood Pellets Market Trends

The wood pellets market in Asia Pacific is driven by the increasing demand for the product in Japan, South Korea, and China. The major suppliers of these pellets in the region include Vietnam, China, Indonesia, Malaysia, Thailand, and Canada. These pellets in the region have applications for electricity generation in coal-fired power plants. Furthermore, the governments of various countries in the region are promoting renewable energy sources of energy, which has resulted in the formulation of policies responsible for driving the demand for these pallets in Asia Pacific over the years.

China Wood Pellets Market 

The China wood pellets market accounted for the largest revenue share in the Asia Pacific for the year in 2023. The demand for products to fuel the power plants for electricity generation is projected to witness significant growth, owing to the rising number of power plants in the country. China has banned the use of coal-fired boilers in the east and Guangdong provinces.

India Wood Pellets Market 

The Wood pellets market in India showed significant revenue share in 2023. These pellets are used in India for heating and cooking with pellet stoves in residential and commercial applications. A combination of micro-gasification stoves or devices using these pellet fuels is also used in residential and commercial applications in the country. Furthermore, the country’s focus on renewable energy and reducing carbon emissions is expected to propel the demand for wood pellets over the years.

Middle East & Africa Wood Pellets Market Trends

The countries that contribute to the demand for wood pellets in the Middle East & Africa are Kuwait, Oman, Qatar, UAE, Saudi Arabia, South Africa, and Egypt. Major applications of these pellets in the region are as an electricity source and fuel for replacing wood fuel and paraffin for heating, lighting, and cooking purposes in non-electrified residential buildings.

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South Africa Wood Pellets Market 

The Wood Pellets Market in South Africa is considered one of the largest pellet manufacturers in Africa as the country consists of a large wood processing industry and forest resources. Moreover, the implementation of policies that support sustainable and clean energy generation in the country is also contributing to the use of these pellets for meeting energy requirements and reducing dependency on traditional fuels.

Central & South America Wood Pellets Market Trends

The demand for wood pellets in Central & South America is primarily derived from their use in residential and commercial applications, which account for over 80% of the overall demand for these pellets in the region.

The Wood pellets market in Brazil dominated the market with highest revenue share in 2023. The favorable climatic and soil conditions, coupled with future policies of the government of the country for reducing GHG emissions, are expected to have a positive impact on the growth of the wood pellet market in Brazil in the coming years

Note: The information in this article is for reference only and may change depending on the manufacturer and source of raw materials. For the most accurate information, you should consult experts, wood pellet suppliers or contact Overc.vn to answer your questions and problems related to wood pellets and wood chips.

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