The global solid biomass fuels market is estimated to be
SEATTLE, May 28, 2021 (GLOBE NEWSWIRE) – Solid fuels from biomass are a potential alternative to fossil fuels and can be used to generate energy. It is a renewable energy resource that can be derived from carbon waste from animals, humans or industrial activities. Solid fuels from biomass are used in various applications, such as power generation, heat treatment, cooking and space heating and cooling, among others. Solid fuel from biomass is the most suitable substitute for fossil fuels.
Solid fuels from biomass come from a wide variety of sources, such as bark chips, palm oil residues, sawdust, wheat straw, peatlands, wood chips and bagasse, among others. In addition, solid fuels from biomass are derived from agricultural by-products, recycled materials, paper, animal litter and sawmill residues, among others.
The Global market for solid fuels from biomass is supposed to represent 425.8 Bnot in terms of value by the end of 2027, with a CAGR of 8.5%.
1. Government initiatives to support solid biofuel The development is expected to increase the growth of the global solid biomass fuels market during the forecast period.
Growing use of biomass, for sustainable energy production, to provide solutions to the ever growing energy crisis and to reduce the environmental impact caused by greenhouse gas emissions. For example, in May 2018, the Indian government launched a program to support biomass-based cogeneration projects in sugar factories and other industries for power generation in the country (until March 2020).
2. The growing demand for energy around the world is also expected to drive the growth of the global solid biomass fuels market.
Solid biomass can be used as one of the alternatives to mitigate the consumption of fossil fuels. According to the US Energy Information Administration (EIA), global energy consumption will increase by almost 50% between 2018 and 2050. The industrial sector, which includes construction, agriculture, manufacturing, operations mining and refining, accounts for the largest share of energy consumption of any end-use sector.
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1. The increasing adoption of bioenergy by many end-use industries, as an energy source instead of fossil fuels, may offer major business opportunities for players in the global solid biomass fuels market.
2. The growing demand for solid biomass fuels to produce suitable energy resources, such as electricity, transport fuels and gases, is also expected to provide lucrative growth opportunities for market players.
1. The growing trend for industrial uses of bioenergy is developing rapidly. For example, in 2018, numerous biomass-fueled cogeneration plants were commissioned to meet the targets of the European Union (EU) Renewable Resources Directive for 2020 and 2030.
2. Major market players are adopting various inorganic strategies such as product launch, business expansion, partnership, collaboration, etc. to maintain their market position or to strengthen their product portfolio. For example, in October 2019, Toshiba Energy Systems & Solutions Corporation announced that its consolidated subsidiary, SIGMA POWER Ariake Corporation, had started construction of a biomass power plant in Omuta City, Japan.
The main players active in the global solid biomass fuels market are Vattenfall AB, VGrid Energy Systems, PVM Environmental Products, Aggregated Micro Power Holdings, Drax Biomass Inc., SOCOTEC Group, Fulcrum BioEnergy, Eni SpA, BTG Biomass Technology Group and Svenska Cellulosa Aktiebolaget SCA.
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In January 2019, Toshiba Energy Systems & Solutions Corporation signed a collaboration agreement with Omuta City, Japan, to build a new biomass power plant in Omuta City through SPAC. In addition, Toshiba converted the Mikawa coal-fired power plant to operate as a biomass-powered power plant.
- Crop residues
- Energy crops
- Municipal solid waste (MSW)
- Others (peat, sawdust, etc.)
- Space heating / cooling
- Heat treatment
- Electricity generation and others
By end use:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
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