Top Key Players in Black Pellet Market Scope, Competition Strategies,Growth Rate by 2027
Black Pellet Market: Overview
- Black pellets are produced from biomass by using various methods such as torrefaction and steam explosion. In this process, water, cellulose, sugars, and other volatile organic compounds are removed from the biomass to produce solid pellets. These pellets have characteristics similar to those of fossil coal.
- Black pellets are produced from waste timber such as forestry residues, sawdust, and industrial byproducts including old paper and forestry wastes
Key Drivers and Restraints of Global Black Pellet Market
- 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.
- Implementation of stringent rules and regulations to minimize carbon emissions, produced by combustion of fossil fuel and coal, is another key driver of the global black pellet market. This implementation has encouraged companies to focus on production of better, cleaner, and inexpensive fuels. Black pellets provide a cleaner and inexpensive solution.
- Increase in usage of renewable energy, such as solar, wind, and hydro, is estimated to hamper the global black pellet market in the near future. Over the last few year, there has been significant increase in investments in renewable energy sources. This is projected to adversely affect the global black pellet market during the forecast period.
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Global Black Pellet Market: Segmentation
- The global black pellet market can be segmented based on product, application, end-user, and region
- In terms of product, the global black pellet market can be classified 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 be bifurcated into power generation and heat generation. The power generation segment is estimated to expand at a significant CAGR during the forecast period, owing to increase in the demand for electricity across the globe led by increase in industrialization and urbanization.
- Based on end-user, the global market can be divided into residential, commercial, industrial, and utilities. The industrial segment is expected to lead the global market during the forecast period, due to rise in industrialization across the globe. This trend is anticipated to continue during the forecast period.
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Global Black Pellet Market: Regional Segmentation
- Based on region, the global black pellet market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- North America dominated the global black pellet market in 2019. The market in the region is projected to expand significantly during the forecast period, owing to rise in the demand for green energy from residential and industrial sectors in the region. The U.S. is the world-leading producer and consumer of black pellets and it is likely to lead the black pellet market in North America during the forecast period.
- The market in Europe is anticipated to expand significantly during the forecast period, owing to stringent government rules and regulations to limit emissions of carbon dioxide and greenhouse gases. Several industries, commercial complexes, and residential consumers use black pellets, as these pellets can replace the coal used in coal-fired boiler units.
- Asia Pacific is estimated to be a key region of the global black pellet market in the near future. A significant number of projects are being undertaken 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 developing counties is expected to drive the black pellet market in these regions during the forecast period.
