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The global wood pellets market is anticipated to grow steadily at 11% CAGR between 2021 and 2031. Rising concerns about environmental protection from pollution generated by fossil fuel and government incentives for adoption of sustainable alternatives are driving wood pellets market.

Wood pellets are renewable energy sources which are derived from sawdust, wood shaving, and wood dry chips. Agricultural wood and wood waste are major sources of wood pellets due to their ease of availability and lower production cost. Increasing applications of alternative fuels compared to traditional sources will create opportunities for wood pellets market sales.

Moreover, high price point of fossil fuel is accentuating the demand for pellet-based fuel sourced primarily from wood waste, agricultural residue and forest waste. Leading manufacturers are focused on implementing compliance plans, which include dedicated biomass power plants and co-firing.

The level of demand declined to the extreme level due to lockdown creating hurdles for the key players operating in this Wood Pellets Market. However as recovery commences in 2021, major players are recuperating their positions through production expansion, capacity utilization, and online selling in 2021 keeping in view the covid-19 norms.

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Product and Cost Differentiation to Remain Strategic Focal Point for Market Leaders

Global wood pellets market is highly fragmented.  Major players profiled in this study include, but are not limited to, Georgia Biomass, LLC, Enviva Partners LP, Wood Pellet Energy (UK) LTD, Andritz AG, Energex, and Pinnacle Renewable Energy Inc. In a bid to remain prominent, industry leaders are channelling their resources towards product and cost differentiation.

Particle density, melting point, mechanical durability, moisture and ash content continue to remain key research areas in wood pellets industry. Moreover, companies are intensifying their efforts towards developing cleaner burning fuel, as opposed to fossil fuels.

Key Takeaways of Wood Pellets Market Study

Stakeholders in wood pellets market must direct massive pecuniary resources towards R&D activities for product diversification, along with capacity expansion initiatives to fortify competitive ascendancy.

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Market Gains to Remain Concentrated in Europe

Europe is the leading regional market of wood pellets, in terms of consumption. Strong active presence of globally leading manufacturers in this region is giving impetus to production capacity as well. Timber and dry sawdust are predominantly preferred by manufacturers for wood pellets production.

On account of low carbon emissions, pellet-based fuel continues to gain prominence in countries such as the United Kingdom, Germany, Italy and France. Low production cost, mounting environmental concerns, and easy availability are some of the factors contributing to the growth of wood pellets market. Moreover, innovations in combustion technology and established logistics network are bolstering the wood pellets market in Europe.

The global wood pellets market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.

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4. Wood Pellets: Trend Analysis & Application Assessment

5. Wood Pellets: Regional Estimates & Trend Analysis

Key Questions Covered in the Report

How will the wood pellets market expand through 2031? Which top manufacturing companies are leading the global wood pellets market? What are the key drivers and trends that will stimulate the wood pellets market? What are the challenges that will affect the sales of wood pellets sales? Which region will remain the most lucrative throughout the forecast period?

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The post Wood Pellets Market Size (2022-2031) by Trends, Share, Growth, Company Profiles: Enviva Partners LP, Pinnacle Renewable Energy Inc., Wood Pellet Energy (UK) LTD, Andritz AG, Energex appeared first on Future Market Insights.

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