Wood Pellet Market by Product Type, Distribution Channel, End User 2024-2032
                     Global Wood Pellet 
Market Research and 
Forecast Report 2024-
2032
Format: PDF+EXCEL
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A c c o r d i n g  t o  t h e  l a t e s t  r e p o r t  b y  I M A R C  G r o u p ,  t i t l e d  " W o o d  P e l l e t  M a r k e t :  G l o b a l  I n d u s t r y  
T r e n d s ,  S h a r e ,  S i z e ,  G r o w t h ,  O p p o r t u n i t y  a n d  F o r e c a s t  2 0 2 4 - 2 0 3 2 , "  t h e  g l o b a l  w o o d  p e l l e t  
m a r k e t  s i z e  r e a c h e d  U S $  1 3 . 3  B i l l i o n  i n  2 0 2 3 .
W o o d  p e l l e t s  a r e  a  t y p e  o f  b i o m a s s  f u e l  m a d e  f r o m  c o m p r e s s e d  s a w d u s t ,  w o o d  s h a v i n g s ,  o r  
o t h e r  w o o d  r e s i d u e s .  T h e s e  s m a l l  c y l i n d r i c a l  p e l l e t s  t y p i c a l l y  m e a s u r e  a b o u t  6 - 8  m i l l i m e t e r s  
Report i n  d i a m e t e r  a n d  1 0 - 3 0  m i l l i m e t e r s  i n  l e n g t h .  W o o d  p e l l e t s  a r e  m a n u f a c t u r e d  t h r o u g h  a  p r o c e s s  
c a l l e d  p e l l e t i z a t i o n ,  w h e r e  t h e  r a w  w o o d  m a t e r i a l s  a r e  g r o u n d  i n t o  a  f i n e  p o w d e r ,  d r i e d ,  a n d  
t h e n  c o m p r e s s e d  a t  h i g h  p r e s s u r e  t o  f o r m  d e n s e  p e l l e t s .  W o o d  p e l l e t s  h a v e  g a i n e d  p o p u l a r i t y  
Highlight and a s  a  s u s t a i n a b l e  a n d  e n v i r o n m e n t a l l y  f r i e n d l y  a l t e r n a t i v e  t o  t r a d i t i o n a l  f o s s i l  f u e l s  l i k e  c o a l  
a n d  o i l .  
T h e y  a r e  c o n s i d e r e d  a  r e n e w a b l e  e n e r g y  s o u r c e  b e c a u s e  t h e y  a r e  m a d e  f r o m  w o o d ,  a  n a t u r a l  
Description a n d  a b u n d a n t  r e s o u r c e .  T h e  c o m b u s t i o n  o f  w o o d  p e l l e t s  r e l e a s e s  c a r b o n  d i o x i d e ,  b u t  t h i s  i s  
o f f s e t  b y  t h e  c a r b o n  d i o x i d e  a b s o r b e d  b y  t h e  t r e e s  d u r i n g  t h e i r  g r o w t h ,  t h u s  m a k i n g  w o o d  
p e l l e t s  a  c a r b o n - n e u t r a l  f u e l  s o u r c e .  W o o d  p e l l e t s  a r e  p r i m a r i l y  u s e d  f o r  h e a t i n g  p u r p o s e s ,  
e s p e c i a l l y  i n  r e s i d e n t i a l  p e l l e t  s t o v e s  a n d  b o i l e r s .  T h e y  a r e  a l s o  u s e d  i n  i n d u s t r i a l  s e t t i n g s  f o r  
p o w e r  g e n e r a t i o n  a n d  a s  a  c o s t - e f f e c t i v e  f u e l  i n  s o m e  l a r g e - s c a l e  h e a t i n g  s y s t e m s .
R e q u e s t  f o r  a  P D F  s a m p l e  o f  t h i s  r e p o r t :  
h t t p s : / / w w w . i m a r c g r o u p . c o m / w o o d - p e l l e t - m a r k e t / r e q u e s t s a m p l e
Report Description
G l o b a l  W o o d  P e l l e t  M a r k e t  T r e n d s :
G o v e r n m e n t  i n c e n t i v e s  a n d  r e n e w a b l e  e n e r g y  t a r g e t s  f a c i l i t a t e  t h e  u s e  o f  b i o m a s s  f u e l s  l i k e  w o o d  p e l l e t s ,  w h i c h  r e p r e s e n t s  o n e  o f  t h e  k e y  
f a c t o r s  d r i v i n g  t h e  g r o w t h  o f  t h e  m a r k e t  a c r o s s  t h e  g l o b e .  S u b s i d i e s ,  t a x  c r e d i t s ,  a n d  m a n d a t e s  f o r  r e n e w a b l e  e n e r g y  a d o p t i o n  a r e  p r o m o t i n g  
t h e  m a r k e t  g r o w t h .  W o o d  p e l l e t s  a r e  c o n s i d e r e d  c a r b o n - n e u t r a l  b e c a u s e  t h e  c a r b o n  d i o x i d e  r e l e a s e d  d u r i n g  c o m b u s t i o n  i s  o f f s e t  b y  t h e  c a r b o n  
d i o x i d e  a b s o r b e d  b y  t h e  t r e e s  d u r i n g  t h e i r  g r o w t h .  T h i s  e n v i r o n m e n t a l  b e n e f i t  a l i g n s  w i t h  g l o b a l  e f f o r t s  t o  m i t i g a t e  c l i m a t e  c h a n g e .  W o o d  p e l l e t s  
h a v e  a  h i g h  e n e r g y  d e n s i t y ,  w h i c h  m a k e s  t h e m  a n  e f f i c i e n t  a n d  c o s t - e f f e c t i v e  h e a t i n g  s o u r c e  f o r  r e s i d e n t i a l  a n d  i n d u s t r i a l  a p p l i c a t i o n s .  T h i s  
e n e r g y  e f f i c i e n c y  d r i v e s  t h e  a d o p t i o n  o f  w o o d  p a l l e t s .  W o o d  p e l l e t s  o f t e n  p r o v i d e  c o s t  s a v i n g s  a s  c o m p a r e d  t o  f o s s i l  f u e l s  l i k e  h e a t i n g  o i l  o r  
n a t u r a l  g a s ,  e s p e c i a l l y  i n  r e g i o n s  w i t h  a b u n d a n t  f o r e s t  r e s o u r c e s  w h i c h  m a k e s  w o o d  p e l l e t s  a n  a t t r a c t i v e  c h o i c e ,  t h u s  f u e l i n g  t h e  g r o w t h  o f  t h e  
m a r k e t .  T h e  r i s i n g  u s e  o f  w o o d  p e l l e t s  f o r  h e a t i n g  a n d  e n e r g y  p r o d u c t i o n  r e d u c e s  g r e e n h o u s e  g a s  e m i s s i o n s  a s  c o m p a r e d  t o  c o a l  o r  o i l ,  
a l i g n i n g  w i t h  e m i s s i o n s  r e d u c t i o n  g o a l s  a n d  a i r  q u a l i t y  i m p r o v e m e n t  w h i c h  i s  p r o p e l l i n g  t h e  g r o w t h  o f  t h e  m a r k e t .  T h e  g r o w i n g  c o n s u m e r  
a w a r e n e s s  o f  p e l l e t  s t o v e s  a n d  b o i l e r s  a s  e f f i c i e n t  a n d  c l e a n  h e a t i n g  o p t i o n s  f o r  h o m e s  i s  d r i v i n g  t h e  d e m a n d  f o r  w o o d  p e l l e t s  i n  t h e  r e s i d e n t i a l  
s e c t o r .  T h e  r i s i n g  u s e  o f  w o o d  p a l l e t s  i n  v a r i o u s  i n d u s t r i a l  p r o c e s s e s ,  i n c l u d i n g  p o w e r  g e n e r a t i o n  a n d  d i s t r i c t  h e a t i n g ,  a s  a n  e n v i r o n m e n t a l l y  
f r i e n d l y  a n d  s u s t a i n a b l e  f u e l  s o u r c e  i s  f a c i l i t a t i n g  t h e  g r o w t h  o f  t h e  m a r k e t .  A d v a n c e s  i n  p e l l e t  p r o d u c t i o n  t e c h n o l o g y  a r e  i m p r o v i n g  t h e  q u a l i t y  
a n d  c o n s i s t e n c y  o f  w o o d  p e l l e t s ,  t h u s  m a k i n g  t h e m  m o r e  a p p e a l i n g  t o  c o n s u m e r s  a n d  i n d u s t r i e s .  
L o o k i n g  f o r w a r d ,  t h e  m a r k e t  v a l u e  i s  p r o j e c t e d  t o  r e a c h  U S $  2 2 . 2  B i l l i o n  b y  2 0 3 2 ,  e x p a n d i n g  a t  a  C A G R  o f  5 . 7 %  d u r i n g  2 0 2 4 -
2 0 3 2 .
V i e w  R e p o r t  T O C ,  F i g u r e s  a n d  T a b l e s :  h t t p s : / / w w w . i m a r c g r o u p . c o m / w o o d - p e l l e t - m a r k e t
Breakup by Feedstock Type:
• Forest Wood and Waste
• Agriculture Residue
• Others
 
Breakup by Application:
• Power Plants
• Residential  Heating
Report • Commercial  Heating
Segmentation • Combined Heat and Power (CHP)
• Others
Breakup by Region:
• North America
• Asia-Pacifi c
• Europe
• Lat in America
• Middle East  and Afr ica
• Andr itz AG
• Asia Biomass Publ ic Company Limited
• Drax Group PLC
• Energex
Competitive • Enviva LP
Landscape • Fram Renewable Fuels LLC
• Land Energy Limited
with Key 
• Lignet ics Inc.
Players • Mallard Creek Inc.
• Pacifi c BioEnergy Corporat ion
• Stora Enso Oyj
• Svenska Cel lulosa Aktiebolaget
• Tanac S.A.
What was the size of the global wood pellet market 
in 2023?
What is the expected growth rate of the global 
wood pellet market during 2024-2032?
What are the key factors driving the global wood 
Key pellet market?
Questions What has been the impact of COVID-19 on the global wood pellet market?
Answered in 
What is the breakup of the global wood pellet 
the Report market based on the feedstock type?
What is the breakup of the global wood pellet 
market based on the application?
What are the key regions in the global wood pellet 
market?
Who are the key players/companies in the global 
wood pellet market?
1     P r e f a c e
2     S c o p e  a n d  M e t h o d o l o g y
    2 . 1     O b j e c t i v e s  o f  t h e  S t u d y
    2 . 2     S t a k e h o l d e r s
    2 . 3     D a t a  S o u r c e s
        2 . 3 . 1     P r i m a r y  S o u r c e s
        2 . 3 . 2     S e c o n d a r y  S o u r c e s
    2 . 4     M a r k e t  E s t i m a t i o n
        2 . 4 . 1     B o t t o m - U p  A p p r o a c h
Table of         2 . 4 . 2     T o p - D o w n  A p p r o a c h    2 . 5     F o r e c a s t i n g  M e t h o d o l o g y
3     E x e c u t i v e  S u m m a r y
4     I n t r o d u c t i o n
    4 . 1     O v e r v i e w
Contents     4 . 2     K e y  I n d u s t r y  T r e n d s5     G l o b a l  W o o d  P e l l e t  M a r k e t
    5 . 1     M a r k e t  O v e r v i e w
    5 . 2     M a r k e t  P e r f o r m a n c e
    5 . 3     I m p a c t  o f  C O V I D - 1 9
    5 . 4     M a r k e t  F o r e c a s t
6      M a r k e t  B r e a k u p  b y  F e e d s t o c k  T y p e
    6 . 1     F o r e s t  W o o d  a n d  W a s t e
        6 . 1 . 1  M a r k e t  T r e n d s
        6 . 1 . 2  M a r k e t  F o r e c a s t
    6 . 2     A g r i c u l t u r e  R e s i d u e
        6 . 2 . 1  M a r k e t  T r e n d s
        6 . 2 . 2  M a r k e t  F o r e c a s t
    6 . 3     O t h e r s
        6 . 3 . 1  M a r k e t  T r e n d s
        6 . 3 . 2  M a r k e t  F o r e c a s t
7    M a r k e t  B r e a k u p  b y  A p p l i c a t i o n
       
    7 . 1     P o w e r  P l a n t s
        7 . 1 . 1  M a r k e t  T r e n d s
        7 . 1 . 2  M a r k e t  F o r e c a s t
    7 . 2     R e s i d e n t i a l  H e a t i n g
        7 . 2 . 1  M a r k e t  T r e n d s
        7 . 2 . 2  M a r k e t  F o r e c a s t
    7 . 3     C o m m e r c i a l  H e a t i n g
        7 . 3 . 1  M a r k e t  T r e n d s
        7 . 3 . 2  M a r k e t  F o r e c a s t
    7 . 4     C o m b i n e d  H e a t  a n d  P o w e r  ( C H P )
Table of         7 . 4 . 1  M a r k e t  T r e n d s        7 . 4 . 2  M a r k e t  F o r e c a s t
    7 . 5     O t h e r s
        7 . 5 . 1  M a r k e t  T r e n d s
Contents         7 . 5 . 2  M a r k e t  F o r e c a s t8    M a r k e t  B r e a k u p  b y  R e g i o n
    8 . 1     N o r t h  A m e r i c a
        8 . 1 . 1  U n i t e d  S t a t e s
           8 . 1 . 1 . 1  M a r k e t  T r e n d s
           8 . 1 . 1 . 2  M a r k e t  F o r e c a s t
        8 . 1 . 2  C a n a d a
           8 . 1 . 2 . 1  M a r k e t  T r e n d s
           8 . 1 . 2 . 2  M a r k e t  F o r e c a s t
    8 . 2     A s i a - P a c i f i c
        8 . 2 . 1  C h i n a
           8 . 2 . 1 . 1  M a r k e t  T r e n d s
           8 . 2 . 1 . 2  M a r k e t  F o r e c a s t
        8 . 2 . 2  J a p a n
           8 . 2 . 2 . 1  M a r k e t  T r e n d s
           8 . 2 . 2 . 2  M a r k e t  F o r e c a s t
F o r  m o r e  i n f o r m a t i o n ,  v i s i t :  
h t t p s : / / w w w. i m a rc g ro u p . c o m / w o o d - p e l l e t - m a r ke t / t o c
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