![](https://www.businessmarketinsights.com/assets/img/reports-icon.png)
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]
Market Introduction
The wood pellet manufacturing industries in Japan, India, China, South Korea, Singapore, Taiwan, and Indonesia are growing at a significant rate. Rising industrialization and urbanization in these countries offer ample opportunities for the key market players. The wood pellet industry in APAC countries has experienced a considerable shift over the years. The massive market growth in the region is attributed to the rising investments in sustainable and bio-based solutions in economies, such as India and China. Furthermore, favorable government policies attract new and international players to set their wood pellet manufacturing plants across China, India, and Japan. Asia Pacific holds strong potential numerous opportunities for new suppliers. In a few countries such as South Korea, Japan, and Vietnam, the demand for wood pellets is rising considerably due to the growing focus on renewable energy sources. For instance, for the past five years, the amount of wood pellets import has increased in South Korea. In 2016, the dependency on biomass-based operations was from 1.5 million to 1.8 million metric tons per year. Similarly, the government of Japan aims to expand its pipeline of wood pellets to support biomass plants. Other APAC countries, such as Indonesia, Malaysia, and Thailand, hold great potential for increased production of wood pellets. These countries have attractive sources of supply wherein the manufacturing capabilities can be effectively explored and expanded using a mixture of roundwood, residues from wood processing industries, and other residue sources such as rubberwood plantations. With the rising focus on renewable energy sources, the expansion of biomass-consuming power plants is scheduled in Japan and South Korea, which would ultimately generate the demand for wood pellets across the region.
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.
![](https://www.theinsightpartners.com//assets/rdimages/25285-img1.png)
Get more information on this report :
Market Overview and Dynamics
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. Growing awareness about use of renewable energy sources; 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. 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. This is bolstering the growth of the wood pellet market.
Key Market Segments
Based on application, the market is segmented into residential heating, commercial heating, CHP (combined heat and power), and power generation. In 2020, the residential heating segment held the largest share APAC wood pellet market.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the wood pellet market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ANDRITZ, Enviva Lp, Pinnacle Renewable Energy Inc, and TANAC among others.
Reasons to buy report
- 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.
APAC WOOD PELLET MARKET SEGMENTATION
By Application
- Residential Heating
- Commercial Heating
- CHP (Combined Heat and Power)
- Power Generation
By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
Company Profiles
- 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
- ANDRITZ
- Enviva Lp
- Pinnacle Renewable Energy Inc
- 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.