Biomass Briquette Market Size, Share & Industry Analysis, By Raw Material (Wood, Agricultural Residue, Municipal Solid Waste (MSW), Others), By Application (Power Generation, Thermal Energy, Others) and Regional Forecast, 2024-2032

Biomass is most sought after fuel for boiler, cooking, and heating purposes. The burning of biomass fuel does not pose a serious threat to the environment. Briquetting is the process to improve the characteristics of biomass as a renewable energy resource by densification, i.e., less volume needed for the same amount of energy. Different types of waste or field residues are used to manufacture biomass briquettes such as sawdust, rice husks, municipal solid waste, agricultural waste, etc. The availability of the resources differs by region or country. Lack of resources in a remote location, especially in developing countries, might fuel the growth of the biomass briquette. The rural community is mostly dependent on natural resources for cooking food and heating purposes. Furthermore, biomass briquettes are widely used in thermal power plant stations to mitigate GHG emissions. Also, shifting trends towards clean energy sources set to offer profitable growth for the industry size.

The biomass briquette market is divided into a type of raw material and application. Different types of raw materials are used to manufacture biomass briquettes such as wood, agricultural waste, municipal solid waste (MSW), and others. Wood is projected to account for a substantial share in the market due to low cost and feasible operation. Biomass briquettes are majorly used in power generation, thermal energy, and others. Thermal energy is expected to lead the application segment owing to the rise in demand for cooking food and heating water in rural areas.

Increasing requisition for clean energy sources and shifting trends to attain sustainable energy goals set to drive the market. In addition, the burning of biomass briquettes does not emit harmful pollutants or does not pose a serious threat to the environment that might add a positive outlook for the growth of the industry.

Low energy output as compared to traditional energy resources and lack of awareness about the benefits of the biomass briquettes likely to limit the growth of the market.

Key Players Covered:

Some of the leading companies for biomass briquette market are Enviva, Pacific BioEnergy, Drax Biomass Inc., PFEIFER Group, Biomass Secure Power Inc., Energex Pellet Fuel, Inc., Lignetics, Georgia Biomass, LLC, African Briquet Factory, and Om Greentech Industries.

Regional Analysis:

The biomass briquette market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. As per the EIA report in 2019, the total production of densified biomass fuel reached 11.84 million tons per year and collectively employed around 2,400 employees. The growth is mainly driven by the growing demand for energy and the adaption of clean energy sources. Europe posses a high potential for the profitable market owing to the EU2020 target and sustainable energy goals. Many countries are reviving their energy policies to attain the goal set by the EU. The massive population explosion and limited availability of energy resources in the Asia Pacific likely to fuel the market.

India and China are the key players in biomass briquette growth in the region. Both countries largely dependent on the agriculture sector and take different types of crops. Furthermore, the substantial community lives in rural parts in India, which mainly dependent on natural resources, which ultimately offer a lucrative market. Many African countries do not have sufficient energy resources to meet the growing demand. An extensive part of the population lives in the below power line and do not have access to traditional energy resources. They are mainly dependent on natural energy resources, which expand the industry analysis in the MEA.

Segmentation

Key Industry Developments

• In December 2019, Mitsubishi recently announced to launch a biomass power generation project at Suzukawa Energy Center. The company is committed for sustainable energy development to reduce rising carbon emission


• In November 2018, The subsidiary of Toshiba Corporation announced to invest 20 billion yen in the new biomass power plant. Toshiba is focussing on investing in emerging technology to bode the growing market for clean energy sources.