COVID-19 Impact on White Pellet Market
- The COVID-19 pandemic has adversely affected the global economy. It has negatively impacted the white pellet market. The supply chain of white pellets has been disrupted due to lockdowns and cross-border restrictions on logistics. Thus, demand for white pellets has decreased over the last few months. However, governments of various countries are taking initiatives to ease lockdowns and provide free movement of goods and laborers. This has helped restore the supply chain of white pellets. Furthermore, rise in demand for power and heat in various industries is projected to boost the demand for white pellets in the near future.
Key Drivers and Restraints of Global White Pellet Market
- Rise in industrialization and urbanization across the globe is estimated to drive the white pellet market. Demand for heat and electricity has been increasing significantly across the world. White pellets could replace fossil fuels such as coal. This is expected to drive the global white pellet market.
- Implementation of stringent rules and regulations to minimize carbon emission, due to combustion of fossil fuel and coal, is another key driver of the white pellet market. These stringent rules and regulation are encouraging companies to focus on better, cleaner, and cheaper fuel. White pellets provide cleaner and cheaper solutions in heat and electricity generation.
- Increase in usage of renewable energy such as solar, wind, and hydro is likely to hamper the white pellet market in the near future. Significant increase in investments in renewable energy sources, particularly solar and wind energy projects, is projected to adversely affect the global white pellet market during the forecast period.
Global White Pellet Market: Segmentation
- The global white pellet market can be segmented based on application and end-user
- Based on application, the global white pellet market can be bifurcated into power generation and heat generation. The power generation segment is estimated to expand at a significant CAGR, owing the increase in demand for electricity across the globe due to industrialization and urbanization.
- Based on end-user, the global market can be split into residential, commercial, industrial, and utility. The industrial segment is expected to lead the market due to a rise in industrialization across the globe. This trend is anticipated to continue during the forecast period.
Global White Pellet Market: Regional Segmentation
- Based on region, the global white pellet market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- North America dominated the global white pellet market in 2020. The market in the region is projected to expand during the forecast period, owing to the rise in demand for green energy in residential and industrial sectors. The U.S. is the largest producer and consumer of white pellet in the world. It is likely to lead the global white pellet market during the forecast period.
- The market in Europe is anticipated to expand significantly during the forecast period owing to stringent governmental rules and regulations to limit carbon emission and greenhouse gases. Many industries, commercial complexes, and residential consumers are using white pellets, as these pellets could replace coal, which is used in coal-fired boiler units.
- Asia Pacific is estimated to be a key region of the global white pellet market in the near future. Significant number of projects are being undertaken by various countries in the region, such as China, India, and Japan, to reduce the emission of greenhouse gases.
- The white pellet market in Latin America and Middle East & Africa is anticipated to expand at a steady pace during the forecast period. Increase in investments in the production of bio-based energy in developing counties is expected to drive the white pellet market in these regions during the forecast period.
Key Players Operating in Market
- Pacific BioEnergy
- Zilkha Biomass Energy
- Pinnacle Renewable Energy Inc
- German Pellets
- Green Circle Bio Energy
- Protocol Energy
Global White Pellet Market: Research Scope
Global White Pellet Market, by Application
- Power Generation
- Heat Generation
Global White Pellet Market, by End-user
The Global White Pellet Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
White Pellet: Introduction
- White pellets are produced from biomass by the torrefaction process. In this process, water, cellulose sugars, and other volatile organic compounds are removed from the biomass to produce solid pellets. These pellets have characteristics similar to those of fossil coal. Thus, they can be exchanged to produce heat and power.
- White pellet is produced from waste timber such as forestry residue, sawdust, wood dust, log wood, and wood chips
- Companies are investing more in R&D of white pellets due to their environmental benefits such as reduction in carbon and greenhouse gases. This is expected to boost investments in the white pellet market during the forecast period.
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