Biomass Briquette Fuel Market Size, Share, Growth, and Industry Analysis, By Type (Bulk Biomass Briquette and Biomass Pellet), By Application (Power Generation, Residential and Commercial Heating and Other), and Regional Forecast to 2028

Updated On: 08 April 2024

REPORT OVERVIEW

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The global biomass briquette fuel market size was USD 10170 million in 2022. As per our research, the market is expected to reach USD 16230 million by 2028, exhibiting a CAGR of 8.1% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with biomass briquette fuel experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Biomass briquette fuel, often simply referred to as biomass briquettes or bio-briquettes, is a type of renewable energy source and biofuel made from compressed organic materials. These materials can include various types of biomass waste. Crop residues like wheat straw, rice husks, corn stalks, and sugarcane bagasse are commonly used in biomass briquette production. Wood chips, sawdust, bark, and wood shavings are abundant forestry residues that can be used as feedstock. Organic components of municipal solid waste, such as yard waste or paper products can also be utilized. Organic waste materials from food processing, breweries, and other industries can be turned into briquettes.

Raw biomass materials are collected, dried, and prepared. This can involve chopping, shredding, or grinding to reduce the size and moisture content. The prepared biomass is then compacted or compressed into briquettes using specialized briquetting machines. This process often doesn't require the addition of binders due to the natural lignin content in many biomass materials, which acts as a binder when heated. Once dried, the briquettes are packaged and distributed for use as a fuel source.

COVID-19 IMPACT: Focus on Sustainability to Boost Demand Significantly

COVID-19 had a life changing impact globally. The biomass briquette fuel market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for biomass briquette fuel experienced an increased demand.

Lockdowns and restrictions on movement and business operations led to reduced industrial activity in many countries. This resulted in decreased demand for industrial heating, which is one of the key applications of biomass briquette fuel. Industries that use biomass briquettes, such as manufacturing and food processing, scaled back or temporarily halted operations.

The pandemic underscored the importance of sustainability and environmental concerns. This emphasis on sustainability has played to the advantage of biomass briquette fuels, which are considered more eco-friendly than some conventional heating options. Some governments recognized the importance of the renewable energy sector during the pandemic and offered financial incentives, subsidies, or grants to support the biomass briquette industry. These measures aimed to mitigate the negative impacts of the pandemic on the sector. The impact of COVID-19 on the biomass briquette fuel market varied by region. Some regions with strong government support and robust renewable energy policies recovered more quickly, while others faced more prolonged challenges. The market is anticipated to boost the biomass briquette fuel market share following the pandemic.

LATEST TRENDS

"Advanced Briquetting Technologies to Broaden Market Growth"

The industry has been witnessing the adoption of advanced briquetting technologies that improve the efficiency and quality of biomass briquette production. These technologies include the use of high-pressure briquetting machines, torrefaction, and binderless briquetting methods. Combining biomass briquettes with other renewable energy sources like solar and wind power is a growing trend. This hybrid approach ensures a more stable and reliable energy supply, even when biomass feedstock availability is seasonal.

Continued research and development efforts are focused on improving the properties of biomass briquettes, such as energy density, combustion efficiency, and ash content. These efforts aim to make briquettes even more competitive with fossil fuels. These latest developments are anticipated to boost the biomass briquette fuel market share.

SEGMENTATION

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• By Type

Based on type, the market is divided into Bulk Biomass Briquette and Biomass Pellet.

• By Application

Based on application, the market is bifurcated into Power Generation, Residential and Commercial Heating and Other.

DRIVING FACTORS

"Increasing Environmental Awareness to Boost Market Share"

Biomass briquettes produce fewer greenhouse gas emissions compared to traditional fossil fuels. As countries and industries seek to reduce their carbon footprints, biomass briquettes become an attractive option for mitigating emissions. Increasing global awareness of environmental issues, such as climate change and air pollution, has driven interest in cleaner and more sustainable energy sources. Biomass briquettes, being a renewable and low-carbon energy option, align with these concerns.

"Government Policies and Incentives to Boost Market Size"

Many governments around the world have implemented policies and incentives to promote the use of renewable energy sources, including biomass briquettes. These measures can include tax incentives, subsidies, renewable energy targets, and emissions reduction regulations. Biomass briquette production often occurs in rural areas where biomass feedstock is abundant. This creates employment opportunities and contributes to rural development and poverty alleviation. These factors are anticipated to drive the biomass briquette fuel market growth.

RESTRAINING FACTORS

"Feedstock Availability and Quality to Hamper Market Share"

The availability and quality of biomass feedstock can be inconsistent, seasonal, and region-specific. This can affect the production capacity and cost-effectiveness of biomass briquette production. Biomass feedstock often contains moisture, which must be removed during the briquetting process. High moisture content can reduce the energy density and combustion efficiency of briquettes. The use of biomass for various purposes, including biofuels, wood products, and animal feed, can create competition for feedstock resources. This can drive up feedstock prices and limit the availability of suitable materials for briquette production. The factors are anticipated to hinder the growth of the biomass briquette fuel market share.

REGIONAL INSIGHTS

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"Europe Dominates the Market Due to Various Government Policies and Incentives"

Europe has historically been a major player in the biomass briquette fuel market. Several European countries, including Sweden, Finland, Germany, and Austria, have a strong tradition of using biomass for heating and energy generation. This is driven by policies that promote renewable energy sources, high environmental awareness, and the availability of extensive forests and wood processing industries.

KEY INDUSTRY PLAYERS

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market

List of Market Players Profiled

• German Pellets [Germany]
• Enviva [U.S.]
• Pinnacle Renewable Energy Group [Canada]
• Pacific BioEnergy Corporation [Canada]
• Vyborgskaya Cellulose [Russia]
• Rentech [U.S.]
• Graanul Invest Group [Estonia]
• RWE Innogy [Germany]
• Lignetics [U.S.]
• E-pellet [U.S.]
• Drax Biomass [U.S.]
• General Biofuels [U.S.]
• BlueFire Renewables [U.S.]
• Pfeifer Group [Austria]
• Biomass Secure Power [Canada]
• Viridis Energy [Canada]
• Westervelt [U.S.]
• Energex [U.S.]
• Fram Renewable Fuels [U.S.]
• Protocol Energy [Canada]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.