Rising carbon dioxide emissions have become foremost concern for the entire world.Erratic fluctuations in the earth’s atmosphere coupled with irreversible climate change has called for a change in the global energy mix. With Europe’s new policy based initiatives until 2020 directed towards curbing hazardous emissions and minimizing dependence on conventional fuels, there is a continuous search for new and more viable forms of renewable energy. In such a scenario, wood pellets have emerged as a highly sustainable alternative to conventional fuel. Wood pellets are made mostly from waste sawdust, shavings, and chips remaining after lumber production. The materials are then condensed into tiny pellets and soldto households as well as industrial utilities to be combusted for energy. Wood pellets are now being amply used as a combustion fuel replacing coal and natural gas in power plants across the globe and especially in Europe.
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Lower carbon dioxide emissions from wood pellets as compared to coal and natural gas have resulted in them emerging as a popular and viable alternative to conventional fuels globally. The wood pellets come in small sizes hence are easy to transport and use anywhere. They are commonly utilized by households in the U.K. for fuelling their heating systems. The combustion process of wood pellets give ash as a residual that can be used as fertilizers.Although the number of hydrocarbon reserve discoveries continue increasing, the high carbon footprint associated with utilizing such conventional fuels has forced the world to look towards other energy sources. Coal, oil, and natural gas although accounting for a major share of primary energy consumption currently have limited reserves globally which are fast depleting. Alternative sources such as solar energy and wind energy although available in abundance areexpensive to harness. In such circumstances, wood pellets prove to bean inexpensive fuel alternative to the power generation sector. Thermal power plants can be easily converted to switch fuels andaccommodate the wood pellets heat generation technology.
Strong growth in electricity consumption, climate change, and depleting hydrocarbon reserves are some of the major driving factors for the global wood pellets market.However, limited availability of wood may hinder the growth in demand for wood pellets in the future. Environmental threats and negative public sentiment surrounding the issue of deforestation has resulted in numerous adoption barriers for wood pellets globally.Despite the product being made of pulp from commercial forest facilities or scraps of lumber production, it may still indirectly result in an increase in tree cutting. A distinct mismatch in the rate of addition of forests and the growth in demand for wood pellets may hinder adoption levels within the forecast period.
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The wood pellet industry can be segmented on the basis of end-use. The combined heat and power plant (CHP) industry, biomass co firing industry, and residential and commercial building warming system are expected to be major demand centers for wood pellets. These wood pellets can be supplied in consignment sizes ranging from small packages to shipments weighing millions of tons.Wood pellets can also be segmented on the basis of percentage of pulp content which affects their moisture content and ultimately their quality. The moisture content affects the combustion properties and emission rate.
The U.S. has emerged as the biggest exporter of wood pellets, supplying more than half of the world production of wood pellets. Apart from the U.S., Russia and Canada are other major producers of wood pellets globally.The other emerging suppliers of wood pellets are Australia, South Africa and South America. Currently U.K. is the largest importer of wood pellets globally where they are being rapidly utilized by the power generation industry. European countries such as Italy, and Germany among others arekey importers of wood pellets.
Some of the key players in the business of wood pellet production are Enviva, New England Wood Pellets, Corinth Wood Pellets , OÜOsulaGraanul, Nature’s Flame, Green Circle Cottondale, Weyerhaeuser, Energex and Mitsubishi Corporation.
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