North America Biomass Pellets Market Forecast to 2030

North America Biomass Pellets Market Forecast to 2030 – Regional Analysis – by Source (Agricultural Residue, Industrial Waste, Wood, and Others) and Application (Power Plants, Industrial Heating, Residential and Commercial Heating, and Others)

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Description

The North America biomass pellets market is expected to grow from US$ 789.10 million in 2022 to US$ 1,124.36 million by 2030. It is estimated to grow at a CAGR of 4.5% from 2022 to 2030.

Significant Investment in Research and Expansion Strategies Drives North America Biomass Pellets Market

Major manufacturers of wood pellets are significantly investing in research and development activities to improve the efficiency of the wood pellet production process. Biomass pellets manufacturers invest in technological advancement to develop new and improved designs for pellet mills, ensuring better output with optimum fuel input. Also, extensive research activities have been carried out to promote the calorific value of wood pellets from the available feedstock. Further, manufacturers are increasingly focusing on maximizing market share by investing in plant expansion activities concerning wood pellets. For instance, in May 2021, Drax Group, a biomass producer and supplier, strategized to establish three new wood pellet production plants in Arkansas worth US$ 40 million. The three “satellite” plants are expected to possess a combined capacity of ~120,000 kilo tons/year of wood pellets. Similarly, in December 2020, Pinnacle Renewable Holdings started operations in the wood pellets production facility in Alberta, Canada. The new facility is aligned with the company’s objective to diversify its fiber supply with the help of high-quality wood fiber obtained from Tolko’s existing sawmill in Canada. In 2021, Drax Group PLC announced targets of 8 million tons of biomass pellets production capacity per annum by 2030, an increase compared to 4 million tons in 2021. In 2022, Drax Group PLC signed an acquisition agreement with Princeton Standard Pellet Corporation (Canada), with a production capacity of 90,000 tons of wood pellets per year. Hence, significant investment in research and expansion of facilities are expected to proliferate the growth of the North America biomass pellets market over the coming years.

North America Biomass Pellets Market Overview

The North America biomass pellets market is significantly driven by the regional cost competitiveness of biomass pellets as compared to residential heating oil and propane. The production of wood pellets in North America has gained traction over the past few years due to rising demand from overseas markets. According to the United States Department of Agriculture, the US and Canada supply wood pellets to the power plants in the Netherlands and Belgium. The increase in domestic demand for biomass pellets in the region has prompted manufacturers to expand their production capacities. In 2023, Grand River Pellets (Canada) invested US$ 30 million to expand the biomass pellets production capacity from 140,000 to 220,000 metric tons per year. There are ~1 million residences in the US that use wood pellets for several applications, such as heat, freestanding stoves, fireplace inserts, furnaces, and boilers. According to the Pellet Fuels Institute, wood pellets in the region are produced in manufacturing facilities in the US and Canada, and distributed through fireplace dealers, nurseries, building supply stores, and discount merchandisers. Thus, the expansion of biomass pellets production facilities in the region is expected to drive the market during the forecast period.

North America Biomass Pellets Market Revenue and Forecast to 2030 (US$ Million)

North America Biomass Pellets Market Segmentation

The North America biomass pellets market is segmented into source, application, and country.

Based on source, the North America biomass pellets market is segmented into agricultural residue, industrial waste, wood, and others. In 2022, the wood segment registered the largest share in the North America biomass pellets market.

Based on application, the North America biomass pellets market is segmented into power plants, industrial heating, residential and commercial heating, and others. In 2022, the residential and commercial heating segment registered the largest share in the North America biomass pellets market.

Based on country, the North America biomass pellets market is segmented into the US, Canada, Mexico. In 2022, the US registered the largest share in the North America biomass pellets market.

AS Graanul Invest, Drax Group Plc, Energex American Inc, Enviva Inc, Lignetics Inc, Mallard Creek Inc, and Valfei Products Inc are some of the leading companies operating in the North America biomass pellets market.

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At 4.5% CAGR, the North America Biomass Pellets Market is Speculated to be worth US$ 1,124.36 million by 2030, saysthe research team

According tothe research team’ research, the North America biomass pellets market was valued at US$ 789.10 million in 2022 and is expected to reach US$ 1,124.36 million by 2030, registering a CAGR of 4.5% from 2022 to 2030. Rising demand for wood pellets from power generation industry and significant investment in research and expansion strategies are the critical factors attributed to the North America biomass pellets market expansion.

With the growing focus on sustainability, the demand for biomass pellets such as wood pellets has increased considerably. Wood pellets can be utilized for electricity production as an alternative to coal feedstock. Further, biomass pellets are uniformly shaped, possess high density, and are feasible for transportation and storage. The US Energy Information Administration published an article in June 2021, which states that the use of wood pellets is rising across the electricity generation sector in many developed economies to manage and prevent carbon dioxide emissions from fossil fuels. In 2022, the government of India approved the country’s updated Nationally Determined Contributions (NDC) provided to the United Nations Framework Convention on Climate Change (UNFCCC). NDC highlighted the expansion of the share of non-fossil fuel-based energy resources, including wind power, solar, hydropower, biomass, and energy waste, in total electricity. Thus, the rising demand for wood pellets from the power generation industry is driving the North America biomass pellets market.

On the contrary, environmental concerns pertaining to the utilization of biomass pellets hurdles the growth of North America biomass pellets market.

Based on source, the North America biomass pellets market is segmented into agricultural residue, industrial waste, wood, and others. The wood segment held 94.1% share of North America biomass pellets market in 2022, amassing US$ 742.57 million. It is projected to garner US$ 1,052.66 million by 2030 to expand at 4.5% CAGR during 2022–2030.

Based on application, the North America biomass pellets market is segmented into power plants, industrial heating, residential and commercial heating, and others. The residential and commercial heating segment held 46.9% share of North America biomass pellets market in 2022, amassing US$ 370.34 million. It is projected to garner US$ 533.45 million by 2030 to expand at 4.7% CAGR during 2022–2030.

Based on country, the North America biomass pellets market is segmented into the US, Canada, Mexico. Our regional analysis states that the US captured 80.9% share of North America biomass pellets market in 2022. It was assessed at US$ 638.30 million in 2022 and is likely to hit US$ 910.83 million by 2030, exhibiting a CAGR of 4.5% during 2022–2030.

Key players profiled in the North America biomass pellets market report are AS Graanul Invest, Drax Group Plc, Energex American Inc, Enviva Inc, Lignetics Inc, Mallard Creek Inc, and Valfei Products Inc, among others.

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TABLE OF CONTENTS

1. Introduction
1.1 Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Biomass Pellets Market Landscape
4.1 Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Biomass Pellets Manufacturers
4.3.3 Distributors or Suppliers
4.3.4 End-Use Industry
5. North America Biomass Pellets Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Rising Demand for Wood Pellets from Power Generation Industry
5.1.2 Adoption of Biomass Pellets for Animal Bedding
5.2 Market Restraints
5.2.1 Environmental Concerns Pertaining to the Utilization of Biomass Pellets
5.3 Market Opportunities
5.3.1 Increasing Utilization of Agricultural Residues for Biomass Pellets Production
5.4 Future Trends
5.4.1 Significant Investment in Research and Expansion Strategies
5.5 Impact of Drivers and Restraints:
6. Biomass Pellets Market – North America Market Analysis
6.1 North America Biomass Pellets Market Volume (Kilo Tons), 2022 – 2030
6.2 North America Biomass Pellets Market Revenue (US$ Million), 2022 – 2030
6.3 North America Biomass Pellets Market Forecast and Analysis
7. North America Biomass Pellets Market Analysis – Source
7.1 Agricultural Residue
7.1.1 Overview
7.1.2 Agricultural Residue Market Volume, and Forecast to 2030 (Kilo Tons)
7.1.3 Agricultural Residue Market Revenue, and Forecast to 2030 (US$ Million)
7.2 Industrial Waste
7.2.1 Overview
7.2.2 Industrial Waste Market Volume, and Forecast to 2030 (Kilo Tons)
7.2.3 Industrial Waste Market Revenue, and Forecast to 2030 (US$ Million)
7.3 Wood
7.3.1 Overview
7.3.2 Wood Market Volume, and Forecast to 2030 (Kilo Tons)
7.3.3 Wood Market Revenue, and Forecast to 2030 (US$ Million)
7.4 Others
7.4.1 Overview
7.4.2 Others Market Volume and Forecast to 2030 (Kilo Tons)
7.4.3 Others Market Volume, Revenue and Forecast to 2030 (US$ Million)
8. North America Biomass Pellets Market Analysis – Application
8.1 Power Plants
8.1.1 Overview
8.1.2 Power Plants Market Revenue, and Forecast to 2030 (US$ Million)
8.2 Industrial Heating
8.2.1 Overview
8.2.2 Industrial Heating Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Residential and Commercial Heating
8.3.1 Overview
8.3.2 Residential and Commercial Heating: Biomass Pellets Market Revenue and Forecast to 2030 (US$ Million)
8.4 Others
8.4.1 Overview
8.4.2 Others: North America Biomass Pellets Market Revenue and Forecast to 2030 (US$ Million)
9. North America Biomass Pellets Market – Country Analysis
9.1 Overview
9.1.1 North America Biomass Pellets Market Revenue and Forecasts and Analysis – By Countries
9.1.1.1 Biomass Pellets Market Breakdown by Country
9.1.1.2 US Biomass Pellets Market Volume and Forecasts to 2030 (Kilo Tons)
9.1.1.3 US Biomass Pellets Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.3.1 US Biomass Pellets Market Breakdown by Source
9.1.1.3.2 US Biomass Pellets Market Breakdown by Source
9.1.1.3.3 US Biomass Pellets Market Breakdown by Application
9.1.1.4 Canada Biomass Pellets Market Volume and Forecasts to 2030 (Kilo Tons)
9.1.1.5 Canada Biomass Pellets Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.5.1 Canada Biomass Pellets Market Breakdown by Source
9.1.1.5.2 Canada Biomass Pellets Market Breakdown by Source
9.1.1.5.3 Canada Biomass Pellets Market Breakdown by Application
9.1.1.6 Mexico Biomass Pellets Market Volume and Forecasts to 2030 (Kilo Tons)
9.1.1.7 Mexico Biomass Pellets Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.7.1 Mexico Biomass Pellets Market Breakdown by Source
9.1.1.7.2 Mexico Biomass Pellets Market Breakdown by Source
9.1.1.7.3 Mexico Biomass Pellets Market Breakdown by Application
10. Competitive Landscape
10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration
11. North America Biomass Pellets Market Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 Drax Group Plc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Enviva Inc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Lignetics Inc
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 AS Graanul Invest
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Energex American Inc
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Valfei Products Inc
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Mallard Creek Inc
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
13. Appendix

LIST OF TABLES

Table 1. North America Biomass Pellets Market Segmentation
Table 2. North America Biomass Pellets Market Volume and Forecasts To 2030 (Kilo Tons)
Table 3. North America Biomass Pellets Market Revenue and Forecasts To 2030 (US$ Million)
Table 4. North America Biomass Pellets Market Volume and Forecasts To 2030 (Kilo Tons) – Source
Table 5. North America Biomass Pellets Market Revenue and Forecasts To 2030 (US$ Million) – Source
Table 6. North America Biomass Pellets Market Revenue and Forecasts To 2030 (US$ Million) – Application
Table 7. US Biomass Pellets Market Volume and Forecasts To 2030 (Kilo Tons) – By Source
Table 8. US Biomass Pellets Market Revenue and Forecasts To 2030 (US$ Mn) – By Source
Table 9. US Biomass Pellets Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 10. Canada Biomass Pellets Market Volume and Forecasts To 2030 (Kilo Tons) – By Source
Table 11. Canada Biomass Pellets Market Revenue and Forecasts To 2030 (US$ Mn) – By Source
Table 12. Canada Biomass Pellets Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 13. Mexico Biomass Pellets Market Volume and Forecasts To 2030 (Kilo Tons) – By Source
Table 14. Mexico Biomass Pellets Market Revenue and Forecasts To 2030 (US$ Mn) – By Source
Table 15. Mexico Biomass Pellets Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 16. Company Positioning & Concentration

LIST OF FIGURES

Figure 1. North America Biomass Pellets Market Segmentation, By Country
Figure 2. Porter’s Five Forces Analysis
Figure 3. Ecosystem: North America Biomass Pellets Market
Figure 4. North America Biomass Pellets Market – Key Industry Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. North America Biomass Pellets Market Volume (Kilo Tons), 2022 – 2030
Figure 7. North America Biomass Pellets Market Revenue (US$ Million), 2022 – 2030
Figure 8. North America Biomass Pellets Market Share (%) – Source, 2022 and 2030
Figure 9. Agricultural Residue Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 10. Agricultural Residue Market Revenue and Forecasts To 2030 (US$ Million)
Figure 11. Industrial Waste Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 12. Industrial Waste Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. Wood Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 14. Wood Market Revenue and Forecasts To 2030 (US$ Million)
Figure 15. Others Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 16. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. North America Biomass Pellets Market Share (%) – Application, 2022 and 2030
Figure 18. Power Plants Market Revenue and Forecasts To 2030 (US$ Million)
Figure 19. Industrial Heating Market Revenue and Forecasts To 2030 (US$ Million)
Figure 20. Residential and Commercial Heating Market Revenue and Forecasts To 2030 (US$ Million)
Figure 21. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 22. North America Biomass Pellets Market by Key Countries – Revenue (2022) (US$ Million)
Figure 23. Biomass Pellets Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 24. US Biomass Pellets Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 25. US Biomass Pellets Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 26. Canada Biomass Pellets Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 27. Canada Biomass Pellets Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 28. Mexico Biomass Pellets Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 29. Mexico Biomass Pellets Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 30. Heat Map Analysis By Key Players

The List of Companies – North America Biomass Pellets Market

– AS Graanul Invest
– Drax Group Plc
– Energex American Inc
– Enviva Inc
– Lignetics Inc
– Mallard Creek Inc
– Valfei Products Inc

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