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Asia Pacific Wood Pellet Market

2021

Asia Pacific Wood Pellet Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application [Residential Heating, Commercial Heating, CHP (Combined Heat and Power), and Power Generation]

Publication Month: Nov 2021 | Report Code: TIPRE00025890 | No. of Pages: 55 | Category: Chemicals and Materials | Status: Published

Market Insights

Asia Pacific Wood Pellet Market to Grow at a CAGR of 13.5% to reach US$ 3,344.99 million by 2028 Million from 2021 to 2028

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The wood pellet market in APAC is expected to grow from US$ 1,375.04 million in 2021 to US$ 3,344.99 million by 2028; it is estimated to grow at a CAGR of 13.5% from 2021 to 2028.


China, India, and South Korea are major economies in APAC. Rising demand for wood pellets from power generation industry is the major factor driving the growth of the APAC wood pellet market. With the growing focus on sustainability, the demand for biomass pellets such as wood pellets has increased considerably. Wood pellets can be significantly used to produce power in a similar way to using coal as a base material, which helps to transform the existing coal power stations into renewable bioenergy sources. Further, such pellets possess the required density and are in uniform shape, which eases their transportation and storage. The demand for wood pellets has substantially risen for power generation applications across several countries. In Asian countries such as China, Japan, and South Korea, wood pellets are primarily used for co-firing at coal-fired power plants. Also, India’s Intended Nationally Determined Contributions (INDC), provided to the United Nations Framework Convention on Climate Change (UNFCCC), highlights that it is imperative to increase biomass installed production capacity to 10GW by 2022 from the present capacity of 4.4GW, including expansion of production capacity of wood pellets. This would work in line with the overall objective of increasing the dependency upon non-fossil fuel-based electricity generation capacity to 40% in India’s electricity mix by 2030. Electricity generation using wood pellets and/or co-firing of wood pellets with coal is aimed at meeting the Renewable Purchase Obligation (RPO) targets stated by State Electricity Regulatory Commissions (SERCs) in states where there are limited solar and wind facilities and possess extensive availability of agricultural and forestry residues. Hence, the demand for wood pellets is expected to rise in India considering the objectives and strategies framed by the state and central policies. Similarly, the demand for wood pellets is expected to expand with the growing focus on renewable energy sources.

The COVID-19 pandemic is anticipated to cause a significant economic loss to APAC. The Asian economies have been hit hard due to the pandemic. India has recorded the highest number of cases (31,855,783 cases with 426,785 deaths as of August 2021). The emergence of new COVID-19 waves in India, Thailand, and other Asian economies have prolonged the effect of pandemic upon GDP. The pandemic has been disrupting the growth of various industries in APAC. Furthermore, uncertainty regarding the future outbreak, especially in India and few other Asian countries, has seriously affected the performance of the industrial sector. These conditions have resulted in reduced demand for wood pellet. However, the market is expected to witness a surge in investments by existing players along with the entry of new players to cater to escalating demand in post-pandemic period.
APAC wood pellet market

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APAC Wood Pellet Market Segmentation

APAC Wood Pellet Market – By Application

  • Residential Heating
  • Commercial Heating
  • CHP (Combined Heat and Power)
  • Power Generation

APAC Wood Pellet Market– By Country

  • Australia
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC

APAC Wood Pellet Market-Companies Mentioned

  • ANDRITZ
  • Enviva Lp
  • Pinnacle Renewable Energy Inc
  • TANAC

TABLE OF CONTENTS

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Scope of the Study

3.2 Research Methodology

3.2.1 Data Collection:

3.2.2 Primary Interviews:

3.2.3 Hypothesis formulation:

3.2.4 Macro-economic factor analysis:

3.2.5 Developing base number:

3.2.6 Data Triangulation:

3.2.7 Country level data:

4. APAC Wood Pellet Market Landscape

4.1 Market Overview

4.2 Porter’s Five Forces Analysis

4.2.1 Bargaining Power of Suppliers

4.2.2 Bargaining Power of Buyers

4.2.3 Threat of Substitutes

4.2.4 Threat of New Entrants

4.2.5 Intensity of Competitive Rivalry

4.3 Expert Opinion

4.1 Ecosystem Analysis

5. APAC Wood Pellet Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Growing Awareness About Use of Renewable Energy Sources

5.1.2 Expanding Demand for Wood Pellets

5.2 Market Restraints

5.2.1 Mandatory Compliances and Operational Challenges Associated with Wood Pellet

5.3 Market Opportunities

5.3.1 Rising Demand for Wood Pellets from Power Generation Industry

5.4 Future Trends

5.4.1 Significant Investment in Research and Expansion

5.5 Impact Analysis of Drivers and Restraints

6. Wood Pellet – APAC Market Analysis

6.1 APAC Wood Pellet Market Overview

6.2 APAC Wood Pellet Market –Revenue and Forecast to 2028 (USD Million)

7. APAC Wood Pellet Market Analysis – By Application

7.1 Overview

7.2 APAC Wood Pellet Market, By Application (2020 and 2028)

7.3 Residential Heating

7.3.1 Overview

7.3.2 Residential Heating: APAC Wood Pellet Market – Revenue and Forecast to 2028 (US$ Million)

7.4 Commercial Heating

7.4.1 Overview

7.4.2 Commercial Heating: APAC Wood Pellet Market – Revenue and Forecast to 2028 (US$ Million)

7.5 CHP (Combined Heat and Power)

7.5.1 Overview

7.5.2 CHP (Combined Heat and Power): APAC Wood Pellet Market – Revenue and Forecast to 2028 (US$ Million)

7.6 Power Generation

7.6.1 Overview

7.6.2 Power Generation: APAC Wood Pellet Market – Revenue and Forecast to 2028 (US$ Million)

8. APAC Wood Pellet Market – Country Analysis

8.1 Asia Pacific Wood pellet Market Revenue And Forecasts to 2028

8.1.1 Asia Pacific Wood pellet Market Breakdown, by Country

8.1.1.1 Australia Wood pellet Market Revenue and Forecast to 2028 (US$ MN)

8.1.1.1.1 Australia Wood pellet Market Breakdown, by Application

8.1.1.2 China Wood pellet Market Revenue and Forecast to 2028 (US$ MN)

8.1.1.2.1 China Wood pellet Market Breakdown, by Application

8.1.1.3 Japan Wood pellet Market Revenue and Forecast to 2028 (US$ MN)

8.1.1.3.1 Japan Wood pellet Market Breakdown, by Application

8.1.1.4 India Wood pellet Market Revenue and Forecast to 2028 (US$ MN)

8.1.1.4.1 India Wood pellet Market Breakdown, by Application

8.1.1.5 South Korea Wood pellet Market Revenue and Forecast to 2028 (US$ MN)

8.1.1.5.1 South Korea Wood pellet Market Breakdown, by Application

8.1.1.6 Rest of Asia Pacific Wood pellet Market Revenue and Forecast to 2028 (US$ MN)

8.1.1.6.1 Rest of Asia Pacific Wood pellet Market Breakdown, by Application

9. APAC Wood Pellet Market Overview – Impact of COVID-19

9.1 Asia-Pacific: Impact Assessment of COVID-19 Pandemic

10. Company Profiles

10.1 ANDRITZ

10.1.1 Key Facts

10.1.2 Business Description

10.1.3 Products and Services

10.1.4 Financial Overview

10.1.5 SWOT Analysis

10.1.6 Key Developments

10.2 Enviva Lp

10.2.1 Key Facts

10.2.2 Business Description

10.2.3 Products and Services

10.2.4 Financial Overview

10.2.5 SWOT Analysis

10.2.6 Key Developments

10.3 Pinnacle Renewable Energy Inc

10.3.1 Key Facts

10.3.2 Business Description

10.3.3 Products and Services

10.3.4 Financial Overview

10.3.5 SWOT Analysis

10.3.6 Key Developments

10.4 TANAC

10.4.1 Key Facts

10.4.2 Business Description

10.4.3 Products and Services

10.4.4 Financial Overview

10.4.5 SWOT Analysis

10.4.6 Key Developments

11. Appendix

11.1 About The Insight Partners

11.2 Glossary of Terms


LIST OF TABLES

Table 1. APAC Wood Pellet Market –Revenue and Forecast to 2028 (USD Million)

Table 2. Australia Wood pellet Market Revenue And Forecasts to 2028 – By Application (US$ Mn)

Table 3. China Wood pellet Market Revenue And Forecasts to 2028 – By Application (US$ Mn)

Table 4. Japan Wood pellet Market Revenue And Forecasts to 2028 – By Application (US$ Mn)

Table 5. India Wood pellet Market Revenue And Forecasts to 2028 – By Application (US$ Mn)

Table 6. South Korea Wood pellet Market Revenue And Forecasts to 2028 – By Application (US$ Mn)

Table 7. Rest of Asia Pacific Wood pellet Market Revenue And Forecasts to 2028 – By Application (US$ Mn)

Table 8. Glossary of Terms, Wood Pellet Market

LIST OF FIGURES

Figure 1. APAC Wood Pellet Market Segmentation

Figure 2. APAC Wood Pellet Market Segmentation – By Country

Figure 3. APAC Wood Pellet Market Overview

Figure 4. Residential Heating Segment Held Largest Share of APAC Wood Pellet Market

Figure 5. South Korea Held Largest Share of APAC Wood Pellet Market

Figure 6. APAC Wood Pellet Market, Key Market Players

Figure 7. Porter ‘s Five Forces Analysis for APAC Wood Pellets Market

Figure 8. Expert Opinion

Figure 9. APAC Wood Pellets Market – Ecosystem Analysis

Figure 10. APAC Wood Pellet Market Impact Analysis of Drivers and Restraints

Figure 11. APAC Wood Pellet Market – Revenue and Forecast to 2028 (USD Million)

Figure 12. APAC Wood Pellet Market Revenue Share, By Application (2020 and 2028)

Figure 13. Residential Heating: APAC Wood Pellet Market – Revenue and Forecast to 2028 (US$ Million)

Figure 14. Commercial Heating: APAC Wood Pellet Market – Revenue and Forecast to 2028 (US$ Million)

Figure 15. CHP (Combined Heat and Power): APAC Wood Pellet Market – Revenue and Forecast to 2028 (US$ Million)

Figure 16. Power Generation: APAC Wood Pellet Market – Revenue and Forecast to 2028 (US$ Million)

Figure 17. Asia Pacific Wood pellet Market Revenue And Forecasts by Country to 2028 (US$ Mn)

Figure 18. Asia Pacific Wood pellet Market Breakdown, by Country, 2020 & 2028(%)

Figure 19. Australia Wood pellet Market Forecasts to 2028 (US$ Mn)

Figure 20. China Wood pellet Market Forecasts to 2028 (US$ Mn)

Figure 21. Japan Wood pellet Market Forecasts to 2028 (US$ Mn)

Figure 22. India Wood pellet Market Forecasts to 2028 (US$ Mn)

Figure 23. South Korea Wood pellet Market Forecasts to 2028 (US$ Mn)

Figure 24. Rest of Asia Pacific Wood pellet Market Forecasts to 2028 (US$ Mn)

Figure 25. Impact of COVID-19 Pandemic in Asia-Pacific

  1. ANDRITZ
  2. Enviva Lp
  3. Pinnacle Renewable Energy Inc
  4. TANAC
  • To understand the APAC wood pellet market landscape and identify market segments that are most likely to guarantee a strong return
  • Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC wood pellet market
  • Efficiently plan M&A and partnership deals in APAC wood pellet market by identifying market segments with the most promising probable sales
  • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC wood pellet market
  • Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.
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