Wood Pellet Market Set for Massive Progress in the Nearby Future

Posted by Pradeep Zende on April 27th, 2022

Wood pellets are produced using finely ground wood bark and majorly used as a fuel. These are extensively used in residential houses for efficient burning in smaller stoves. Wood pellets are produced from numerous wood waste products and considered as a source of renewable energy. Currently, along with residential heating, there is an increased use of wood pellets for power generation across the globe. These are largely utilized globally as fuel which is also expected to increase the demand for wood pellet in coming years. Europe is the leading region for the consumption of wood pallets for power generation, along with this North America is the significant exporter and expected to increase the production facilities of wood pellet in coming years.

Renewable energy plays a vital role to play in meeting the future energy needs in both rural and urban areas. The scarcity of resources, along with an increase in awareness about adverse environmental impacts of fossil-based products and processes, has surged the dependency on renewable energy sources such as wood pellets. The growing need for sustainable energy development is yet another factor contributing to the increased demand for wood pellets. Renewable energy resources and technologies are considered as environment-friendly alternatives as they generally cause limited or no impact on the environment than other forms of energy sources. Further, such resources are easily available and cannot be depleted. 

Wood pellets are categorized under renewable energy sources as they are derived from trees and are a form of biomass. Wood pellets are composed of dried and compressed wood fibers prepared from sawmill residuals, logging debris such as forest debris piles, and whole logs. According to the US Energy Information Administration, biomass is categorized as an organic material that can be effectively used as a source of energy. Several forms of biomass such as wood pellets are carbon neutral and leave a net-zero carbon footprint upon burning biomass. 

Moreover, the deployment of wood energy pellets instead of oil can effectively help in minimal emission of greenhouse gases into the environment. As per an article published by the Energy Pellets of America, LLC in 2018, the statistics from the US Energy Information Administration represent that biomass contributes to approximately 5% of all energy utilized in the US. From that 5%, 44% of the biomass is derived from wood and wood products such as wood energy pellets. Similarly, wood pellets are also considered as an efficient and cost-effective alternative source of energy that can be effectively deployed in numerous application bases. Hence, the demand for wood pellets is expected to rise with the growing investment in renewable energy forms.

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