Global Solid Biomass Feedstock Market Size To Exceed USD 46.96 Billion By 2033 | CAGR 6.08%
Category: Energy & PowerGlobal Solid Biomass Feedstock Market Size To Exceed USD 46.96 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Solid Biomass Feedstock Market Size is to grow from USD 26.03 Billion in 2023 to USD 46.96 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.08% during the projected period.
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Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the "Global Solid Biomass Feedstock Market Size, Share, and COVID-19 Impact Analysis, By Type (Chips, Pellets, Briquettes), By Source (Agriculture, Forest, Municipal), By Application (Electricity, Heat, Biofuel), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033" Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/solid-biomass-feedstock-market
Solid biomass feedstock is described as solid organic materials obtained from a variety of sources, including agriculture, forestry, and organic waste, that can be converted into energy by combustion, gasification, or other means. These resources are renewable and easily accessible, making them crucial for creating heat, power, and biofuels. The increased demand for renewable energy sources has driven the use of biomass for energy and power generation, opening up lucrative market opportunities. The global emphasis on sustainable and circular economies has boosted demand for biomass, which is consistent with resource efficiency and waste reduction principles. Biomass feedstock has the potential to create a closed-loop system in which organic waste materials are converted into useable energy and goods, helping to promote a more sustainable and environmentally friendly approach to resource management. However, before being used, solid biomass feedstock must undergo pretreatment procedures such as drying and densification. These procedures are necessary to improve the qualities of biomass, but they have some drawbacks, including high processing costs, process complexity, and low processing efficiency.
The briquettes segment is expected to hold the largest share of the global solid biomass feedstock market during the anticipation timeframe.
Based on the type, the global solid biomass feedstock market is categorized into chips, pellets, and briquettes. Among these, the briquettes segment is expected to hold the largest share of the global solid biomass feedstock market during the anticipation timeframe. Briquettes are created from organic resources such as agricultural and wood waste, and they offer a greener alternative to traditional fossil fuels for heating and other applications.
The agriculture segment is expected to grow at the fastest CAGR during the anticipation timeframe.
Based on the source, the global solid biomass feedstock market is categorized into agriculture, forest, and municipal. agriculture waste categories include agriculture, forest, animal, and municipal trash. Agriculture waste is predicted to account for the second biggest share during the anticipation timeframe. Agriculture biomass feedstock has the potential to meet the growing demand for bioenergy due to its abundance and low cost. Crop land makes up one-third of agricultural land and can provide a significant amount of feedstock from biomass.
The biofuel segment is expected to hold a significant share of the global solid biomass feedstock market during the anticipation timeframe.
Based on the application, the global solid biomass feedstock market is categorized into electricity, heat, and biofuel. Among these, the biofuel segment is expected to hold a significant share of the global solid biomass feedstock market during the anticipation timeframe. Biofuel has its compatibility with existing natural gas infrastructure enables seamless integration into a wide range of industries, including transportation, heating, and power generation, without needing significant changes.
Asia Pacific is projected to hold the largest share of the global solid biomass feedstock market over the anticipation timeframe.
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Asia Pacific is projected to hold the largest share of the global solid biomass feedstock market over the anticipation timeframe. Agriculture is a significant driver of revenue in Asia Pacific countries including India, Vietnam, and Indonesia. India is one of the world's largest energy consumers, relying heavily on fossil fuels, much of which is imported. The region's solid biomass feedstock market is growing as a result of the shift to sustainable energy. The presence of solid biomass feedstock providers such as Supreme Industries (India), Shree Industries (India), and JP Green Fuels (India) promotes market expansion.
North America is expected to grow at the fastest CAGR growth of the global solid biomass feedstock market during the anticipation timeframe. The United States and Canada are the primary driving forces behind North American interest in biomass electricity. North America depends significantly on coal for power generation. The recent finding of shale gas reserves in the area has ushered in a new era of gas-based power, which is developing faster than coal-based power.
Major vendors in the global solid biomass feedstock market are REDAL, Shree Industries, Mallard Creek Inc, Blackwood Technology, JP Green Fuels, Graanul Invest, Viridis Energy Inc., Growmore Biotech Ltd., Ecostrat Inc., Arbaflame, Subham Industries, Fram Fuels, Stora Enso, Drax Group plc, Segezha Group, Enviva Inc., Lignetics, Inc., Rentech, Inc., LAND ENERGY LTD, Supreme Industries, Wismar Pellets GmbH, Gildale Farms, Gombella Integrated Services Ltd., Valfei Products Inc., Forest Concepts, and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- On January 2024, Drax Group plc and Molpus Woodlands Group have announced a new arrangement that allows Drax Group plc to access sustainably sourced woody biomass for powering its bioenergy plants with carbon capture and storage (BECCS) in the US Southeast. Drax will have access to a maximum of USD 1 million in green tons of sustainably sourced fiber per year through a long-term fiber supply deal. This supply will act as the foundation for Drax's BECCS projects in the area, which aim to deliver renewable baseload power to boost US energy independence while effectively removing carbon dioxide from the atmosphere.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global solid biomass feedstock market based on the below-mentioned segments:
Global Solid Biomass Feedstock Market, By Type
- Chips
- Pellets
- Briquettes
Global Solid Biomass Feedstock Market, By Source
- Agriculture
- Forest
- Municipal
Global Solid Biomass Feedstock Market, By Application
- Electricity
- Heat
- Biofuel
Global Solid Biomass Feedstock Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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