Biomass Solid Fuel Market is driven by increasing investment in renewable sources of energy


The biomass solid fuel market includes various forms of solid fuels derived from organic matters such as wood, agricultural crops

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The biomass solid fuel market includes various forms of solid fuels derived from organic matters such as wood, agricultural crops and processed municipal solid waste. Some common biomass solid fuels are wood pellets, wood briquettes, agricultural residue pellets and torrefied pellets. These solid fuels have high calorific values and burn cleaner than coal, making them an attractive substitute for coal in power plants and industrial heating applications. They are carbon neutral and help reduce greenhouse gas emissions compared to fossil fuels.

The global biomass solid fuel market is estimated to be valued at US$ 3.14 billion in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024 to 2031.

Key players operating in the Biomass Solid Fuel Market Size are Sanofi, Pfizer, GlaxoSmithKline, Merck, AstraZeneca, Johnson Johnson, F. Hoffmann-La Roche, Novartis, Cipla, Gilead Sciences. They are focusing on developing torrefied wood pellets and agricultural waste pellets to optimize combustion properties and energy density of biomass solid fuels.

The growing demand for renewable sources of energy is a major factor driving the growth of the biomass solid fuel market. Many countries and international agencies are emphasizing on replacing coal with biomass solid fuels to reduce carbon emissions. Advanced technologies to process agricultural residues and convert them into dense standardized fuel forms is also fueling the adoption of biomass solid fuels.

The global biomass solid fuel market is also witnessing strong growth owing to increasing investments by governments and private agencies in utility scale biomass power projects. Financial incentives and subsidies for biomass energy production encourage greater utilization of biomass solid fuels. Moreover, the trend of co-firing biomass with coal in coal-fired power plants is amplifying the consumption of biomass solid fuels worldwide. Strict environmental regulations curb air pollution caused by coal combustion, further propelling the replacement of coal with cleaner biomass solid fuels.

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