The global Solid Biomass Feedstock Market in terms of revenue was estimated to be worth $26.6 billion in 2024 and is poised to reach $36.2 billion by 2029, growing at a CAGR of 6.3% from 2024 to 2029 according to a new report by MarketsandMarkets™.
Solid biomass feedstock refers to organic materials which are in solid state sourced from different sources such as agriculture, forestry, and organic waste, which can be utilized for energy production via combustion, gasification, or other conversion methods. These resources, are renewable and easily accessible, rendering them crucial for generating heat, electricity, and biofuels. Solid biomass feedstock serves as a cornerstone in the shift toward sustainable energy systems, providing a carbon-neutral substitute for fossil fuels and mitigating greenhouse gas emissions.
Moreover, Solid biomass feedstock can play a vital role in mitigating carbon emission.
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Solid Biomass Feedstock Market Types
Based on type, the Solid Biomass Feedstock Market has been split into chips, pellets, briquettes, and others. Briquettes are the second fastest growing segment during the forecasted period, derived from organic materials like agricultural and wood waste, offer a cleaner alternative to traditional fossil fuels in heating and other applications. Hence, it is expected to hold the second largest share in the type segment of Solid Biomass Feedstock Market.
Application Segmentation
This report segments the Solid Biomass Feedstock Market based on application into four segments: electricity, heat, biofuel, and biomethane. The biofuel is expected to be the second fastest growing segment during the forecast period. Government policies and incentive schemes drives the growth of biofuels. For example, India’s Ministry of Petroleum and Natural Gas released its “National Policy on Biofuels,” which was subsequently amended in June 2022. The primary goal of the policy is to decrease the reliance on imported petroleum products by promoting the domestic production of biofuels.
Regional Analysis
Europe is expected to be the second largest Solid Biomass Feedstock Market during the forecast period. The Solid Biomass Feedstock Market in Europe is primarily fueled by significant supportive policies and ambitious climate goals. For example, The UK has launched a Biomass Feedstock Innovation Programme that supports innovation in the production of sustainable domestic biomass. New biofuel plants are required to achieve at least a 65% reduction in direct greenhouse gas (GHG) emissions compared to fossil fuel alternatives. Similarly, biomass-based heat and power plants must achieve a minimum of 70% fewer GHG emissions (80% by 2026) than fossil fuel alternatives, with specific efficiency and technology criteria outlined for large-scale plants. These criteria complement existing EU climate and environmental legislation.
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Key Market Players
Some of the major players in the Solid Biomass Feedstock Companies are Stora Enso (Finland), Drax Group plc (UK), Segezha Group (UK), Enviva Inc. (US), and Lignetics, Inc. (US).
Stora Enso
Stora Enso specializes in the development and manufacturing of solutions derived from wood and biomass, catering to various industries and applications globally. The company assists its customers in fulfilling the need for renewable, environmentally sustainable products. Stora Enso operates as a business-to-business enterprise and stands as a prominent supplier of renewable products in packaging, biomaterials, and wooden construction. Additionally, it ranks among the largest private forest proprietors globally. Stora Enso offers business in these six segments: Packaging Materials, Packaging Solutions, Biomaterials, Wood Products, Forest, and Other. Stora Enso offers solid biomass feedstock in the Wood Products segment; it provides components for windows and doors, as well as by-products like pellets derived from wood residuals.
Drax Group plc
Drax Group plc manages a sustainable generation portfolio encompassing biomass, hydroelectric, and pumped hydro storage assets at four locations in England and Scotland. Additionally, the company runs a worldwide bioenergy supply enterprise with manufacturing facilities at 13 sites in the US and Canada. These facilities produce compressed wood pellets for both, internal consumption and external customers in Europe and Asia.
The Drax Group plc consists of three distinct business segments: Pellet Production, Generation, and Customers. The company provides solid biomass feedstock within its Pellet Production business segment. It manufactures pellets, consisting of sawmill and forest residuals, along with low-grade roundwood—material of an inferior quality that cannot be utilized in sawmills. These components offer a sustainable, low-carbon fuel source that can be transported safely and efficiently via our worldwide supply network.