The global biomass briquette market is experiencing growth
due to compressed organic materials, which have gained significant
attention in biomass briquette. Biomass briquettes, as a renewable
and carbon-neutral energy source, offer a promising alternative to
traditional fossil fuels. They help in reducing greenhouse gas
emissions and dependence on non-renewable energy resources, making
them an attractive option for both developed and developing
countries aiming to meet their renewable energy targets and
commitments under international agreements such as the Paris
Agreement.
WILMINGTON, Del., Aug. 13,
2024 /PRNewswire/ -- Allied Market Research published
a report, titled, "Biomass Briquette
Market by Type (Sawdust Briquettes, Agro waste
Briquettes and Wood Briquettes), Application (Power Generation,
Heating, Cooking and Others): Global Opportunity Analysis and
Industry Forecast, 2024-2033". According to the report, the
biomass briquette market was valued at $0.9
billion in 2023, and is estimated to reach $1.9 billion by 2033, growing at a CAGR of 7.9%
from 2024 to 2033.
Download PDF Brochure:
https://www.alliedmarketresearch.com/request-sample/3438
Prime determinants of growth
The global biomass briquette market is experiencing growth due
to growing awareness and regulations favoring sustainable energy
sources drive demand for biomass briquettes. However, high initial
costs associated with briquette production facilities are expected
to hinder the growth of biomass briquette market. Moreover, growing
emphasis on carbon-neutral fuels offers remunerative opportunities
for the expansion of the global biomass briquette market.
Report coverage & details:
Report
Coverage
|
Details
|
Forecast
Period
|
2024–2033
|
Base Year
|
2023
|
Market Size in
2023
|
$0.9 billion
|
Market Size in
2033
|
$1.9 billion
|
CAGR
|
7.9 %
|
No. of Pages in
Report
|
300
|
Segments
Covered
|
Type, Application, and
Region
|
Region
Covered
|
North America, Europe,
Asia-Pacific, LAMEA
|
Drivers
|
- Rapid urbanization and industrialization
- Regulatory support driving demand for biomass
briquettes
|
Opportunities
|
- Surge in the use of co-firing biomass
briquettes with coal in power plants
|
Restraint
|
- Competition from other renewable energy
sources
|
The wood briquettes segment is expected to remain the largest type
throughout the forecast period.
By type, wood briquettes serve as a renewable energy source,
helping to reduce dependence on fossil fuels and decrease
greenhouse gas emissions. Unlike coal or natural gas, burning wood
briquettes releases a lower amount of carbon dioxide, as the carbon
released during combustion is roughly equivalent to the amount
absorbed by the trees during their growth. This creates a more
balanced carbon cycle and lessens the overall environmental
impact.
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The heating segment is expected to lead throughout the
forecast period.
By application, biomass briquettes are a sustainable and
efficient alternative to traditional fossil fuels, particularly in
heating applications. Biomass is a renewable energy source, meaning
that its use helps to reduce reliance on finite fossil fuels and
decrease greenhouse gas emissions. When burned, biomass briquettes
release carbon dioxide, but this is offset by the carbon dioxide
absorbed by the plants during their growth, resulting in a
carbon-neutral cycle. Additionally, the use of biomass briquettes
helps to reduce waste by converting agricultural and forestry
residues into a valuable energy source, thus minimizing the
environmental impact of waste disposal.
Asia-Pacific to maintain its
dominance by 2032
Region wise, biomass briquettes have gained significant traction
across Asia-Pacific countries as a
sustainable alternative to traditional fuels like coal and wood. In
countries such as India, the use
of biomass briquettes has been actively promoted to reduce reliance
on fossil fuels and mitigate environmental impact. In China, biomass briquettes are utilized
extensively in industries and households alike, contributing to the
country's strategies for reducing carbon emissions and improving
energy efficiency. Briquettes are produced from various biomass
sources including crop residues, sawdust, and agricultural wastes,
providing a cost-effective and environmentally friendly fuel
option.
Southeast Asian countries such as Thailand and Vietnam have also embraced biomass briquettes
as part of their renewable energy initiatives. These countries
utilize agricultural residues such as rice husks and bagasse to
produce briquettes, which are used in industries such as
agriculture, brick kilns, and food processing. The adoption of
biomass briquettes not only reduces dependency on imported fossil
fuels but also supports rural economies by providing income
opportunities through biomass collection and briquette
manufacturing.
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Players: -
- Radhe Industrial Corporation
- C.F. Nielsen A/S
- Jaykhodiyar
- ECOSTAN
- RUF US, Inc
- Gattuwala
- MaxTon Industrial Co., Ltd.
- WEIMA
- VOTECS
- GROSS Apparatebau GmbH
The report provides a detailed analysis of these key players in
the global biomass briquettes market. These players have adopted
different strategies such as new product launches, collaborations,
expansion, joint ventures, agreements, and others to increase their
market share and maintain dominant shares in different regions. The
report is valuable in highlighting business performance, operating
segments, product portfolio, and strategic moves of market players
to showcase the competitive scenario.
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