Global Market Insights on Black Pellet

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Rise in industrialization and urbanization across the globe is estimated to be a key driver of the global black pellet market. Demand for heat and electricity has been increasing significantly across the world over the last few years. This is expected to drive the global black pellet market during the forecast period.

BlackPellet Market: Overview

· Black pellets are produced from biomass by using various methodssuch as torrefaction and steam explosion. In this process, water, cellulose,sugars, and other volatile organic compounds are removed from the biomass toproduce solid pellets. These pellets have characteristics similar to those offossil coal.

· Black pellets are produced from waste timber such as forestryresidues, sawdust, and industrial byproducts including old paper and forestrywastes

KeyDrivers and Restraints of Global Black Pellet Market

· Rise in industrialization and urbanization across the globe isestimated to be a key driver of the global black pellet market. Demand for heatand electricity has been increasing significantly across the world over thelast few years. This is expected to drive the globalblack pellet market during the forecastperiod.

· Implementation of stringent rules and regulations to minimizecarbon emissions, produced by combustion of fossil fuel and coal, is anotherkey driver of the global black pellet market. This implementation hasencouraged companies to focus on production of better, cleaner, and inexpensivefuels. Black pellets provide a cleaner and inexpensive solution.

· Increase in usage of renewable energy, such as solar, wind, andhydro, is estimated to hamper the global black pellet market in the nearfuture. Over the last few year, there has been significant increase ininvestments in renewable energy sources. This is projected to adversely affectthe global black pellet market during the forecast period.

GlobalBlack Pellet Market: Segmentation

· The global black pellet market can be segmented based onproduct, application, end-user, and region

· In terms of product, the global black pellet market can beclassified into torrefaction, steam explosion, and hydrothermal carbonization.Steam explosion is the most extensively used method to produce black pellets,as it does not generate any pollutants during the manufacturing process. Hence,the demand for steam explosion is expected to be high in the near future.

· Based on application, the global black pellet market can bebifurcated into power generation and heat generation. The power generationsegment is estimated to expand at a significant CAGR during the forecastperiod, owing to increase in the demand for electricity across the globe led byincrease in industrialization and urbanization.

· Based on end-user, the global market can be divided intoresidential, commercial, industrial, and utilities. The industrial segment isexpected to lead the global market during the forecast period, due to rise inindustrialization across the globe. This trend is anticipated to continueduring the forecast period.

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GlobalBlack Pellet Market: Regional Segmentation

· Based on region, the global black pellet market can beclassified into North America, Asia Pacific, Europe, Latin America, and MiddleEast & Africa

· North America dominated the global black pellet market in 2019.The market in the region is projected to expand significantly during theforecast period, owing to rise in the demand for green energy from residentialand industrial sectors in the region. The U.S. is the world-leading producerand consumer of black pellets and it is likely to lead the black pellet marketin North America during the forecast period.

· The market in Europe is anticipated to expand significantlyduring the forecast period, owing to stringent government rules and regulationsto limit emissions of carbon dioxide and greenhouse gases. Several industries,commercial complexes, and residential consumers use black pellets, as thesepellets can replace the coal used in coal-fired boiler units.

· Asia Pacific is estimated to be a key region of the global blackpellet market in the near future. A significant number of projects are beingundertaken by various countries in the region, such as China, India, and Japan,to reduce the level of greenhouse gas (GHG) emissions.

· The black pellet market in Latin America and Middle East &Africa is anticipated to expand at a steady pace during the forecast period.Increase in investments in the production of bio-based energy in developingcounties is expected to drive the black pellet market in these regions duringthe forecast period.