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Written by sujeet rai » Updated on: August 13th, 2024
IMARC Group's report titled "Wood Chips Market Report by Product (Softwood, Hardwood), Variety Type (Forest Chips, Recycled Chips, Wood Residue Chips, and Others), Application (Combined Heat and Power (CHP), Household Furnishing, Residential Heating, and Others), and Region 2024-2032", The global wood chips market size reached US$ 9.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 15.9 Billion by 2032, exhibiting a growth rate (CAGR) of 5.67% during 2024-2032.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/wood-chips-market/requestsample
Factors Affecting the Growth of the Wood Chips Industry:
Many countries are setting ambitious renewable energy targets to reduce carbon emissions and combat climate change. Wood chips, as a biomass source, are considered a renewable resource and are used to meet these targets. This is leading to an increasing demand for wood chips in energy production. Moreover, wood chips are used in co-firing systems where they are burned alongside coal in power plants. This method reduces the carbon footprint of existing coal-fired power plants without requiring substantial new infrastructure. The ability to use wood chips in this way is driving their demand among energy producers.
Innovations in forestry equipment, such as more efficient and sustainable tree harvesters, allow for quicker and less labor-intensive gathering of wood chips. This not only reduces costs but also minimizes environmental impact, making wood chips a more competitive and sustainable resource. Furthermore, advancements in wood processing technologies ensure better quality and uniformity of wood chips, which is crucial for their use in energy production and other industrial applications. New chipping machines can produce more consistent chip sizes, which are essential for optimal combustion in biomass power plants.
Wood chips are converted into wood pulp through mechanical or chemical processes, which are then used to manufacture paper and paper products. The consistent need for various types of paper, including printing, writing, and packaging materials, is driving the demand for wood chips. In addition, as the pulp and paper industry is adopting more sustainable and environment-friendly practices, wood chips sourced from responsibly managed forests are becoming more desirable. This shift encourages sustainable forestry practices, which, in turn, supports a stable supply of wood chips.
Leading Companies Operating in the Global Wood Chips Industry:
Wood Chips Market Report Segmentation:
By Product:
Softwood exhibits a clear dominance in the market owing to its higher calorific value and widespread availability.
By Variety Type:
Forest chips hold the biggest market share, as they are directly sourced from forestry operations, making them a cost-effective and widely available biomass resource.
By Application:
Residential heating represents the largest segment attributed to the growing demand for sustainable and renewable heating solutions in homes.
Regional Insights:
Asia Pacific dominates the market due to extensive forestry activities and the increasing adoption of wood chips for energy production.
Global Wood Chips Market Trends:
Developments in biomass combustion and gasification technologies are significantly increasing the energy output obtained from wood chips, making them a more viable source of energy. Enhanced boiler designs and co-firing techniques are improving the efficiency of energy plants that use wood chips, increasing their appeal to energy producers.
Furthermore, technological improvements in logistics and transportation help in the efficient movement of large quantities of wood chips over long distances. Global positioning system (GPS) tracking and sophisticated logistics software can optimize routes and improve supply chain efficiency, reducing costs and enhancing the reliability of wood chip deliveries.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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