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Biomass Briquette Market to Reach $1.9 Billion, Globally, by 2033 at 7.9% CAGR: Allied Market Research

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Allied Market Research

13 Aug, 2024, 06:14 GMT

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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.

Procure Complete Report (300 Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/3SNvgDI 

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.

For Purchase Inquiry: https://www.alliedmarketresearch.com/biomass-briquette-market/purchase-options 

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.

Trending Reports in Energy & Power Industry:

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Biomass Market Size, Share, Competitive Landscape and Trend Analysis Report, by Feedstock Type, by Technology, by Application and, by End User: Global Opportunity Analysis and Industry Forecast, 2023-2032

Biomass Power Generation Market Size, Share, Competitive Landscape and Trend Analysis Report, by Feedstock, by Application and, by Region: Global Opportunity Analysis and Industry Forecast, 2023-2032

Biopower Market Size, Share, Competitive Landscape and Trend Analysis Report, by Feedstock, by Technology, by End Use: Global Opportunity Analysis and Industry Forecast, 2021-2031

Wood Pellet Fuel Market Size, Share, Competitive Landscape and Trend Analysis Report, by Feedstock, by Application, by End-Use: Global Opportunity Analysis and Industry Forecast, 2023-2032

Waste to Energy Market Size, Share, Competitive Landscape and Trend Analysis Report, by Technology: Global Opportunity Analysis and Industry Forecast, 2023-2032

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/reports-store/energy-and-power
Follow Us on | Facebook | LinkedIn | YouTube 

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg 

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