Increasing Awareness of Biofuels Boost Consumption of Biomass Pellets

According to P&S Intelligence, the biomass pellet industry has garnered $9.05 billion revenue in 2021, and it is predicted to rise at the rate of 6.75% from 2021 to 2030.
 
NEW YORK - Jan. 25, 2023 - PRLog -- The biomass pellet industry has garnered $9.05 billion revenue in 2021, and it is projected to generate $16.29 billion revenue in 2030, advancing at a rate of 6.75% in the coming years.

The rising awareness of the advantages of the usage of biofuels and other renewable energy resources for commercial, residential, and industrial heating and power generation applications among consumers fuels the industry's growth.

In addition, the increasing government initiatives for promoting renewable energy sources, boosting the demand for low-carbon fuel, with easy availability of raw materials are major factors that fuel the requirement for biomass pellets.

What is Biomass Pelletization?

This process involves forming cylindrical biomass pellets by drying and compressing them at a significant pressure. The biomass cylinders usually measure 6 to 10 mm in diameter with a length of 38 mm maximum. These fuels are free-flowing, ease to manage, and dust free.

Browse detailed report on Biomass Pellet Industry Growth and Forecast Report 2030 (https://www.psmarketresearch.com/market-analysis/biomass-...)

The major players operating in the industry are; Buhler AG, Lignetics, New England Wood Pellet, Forest Energy Corporation, Enviva Inc., German Pellets GmbH, The Westervelt Company Inc., and Buhler AG.

Therefore, the rising requirement for biofuels and renewable energy sources fuels the demand for biomass pellets.

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