Market Research Report
Global Biomass Briquette Market - 2020-2027
|Published by||DataM Intelligence||Product code||959388|
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|Global Biomass Briquette Market - 2020-2027|
|Published: September 4, 2020||Content info:||
Large scale agricultural activities globally has resulted in liberation of large volumes of residues. Rice husk, bagasse, coir pith, nut shells, and cotton stalks among others are the major agriresidues produced in the world. These residues has been posing environmental threat in the form of air pollution and surged the need for proper waste management methods. Biomass briquetting is a method of converting biomass into usable fuel blocks. Biomass includes agriresidues, paper and saw dust that are generated in bulk quantities in various agro-industrial activities. Briquetting is a densification process involving low pressure compaction of agroresidues into high-pressure fuel blocks, commonly referred as biomass briquettes. These briquettes are considered as effective substitutes to charcoal and are widely in use as alternative fuel for coal, wood and lignite across the globe.
The global biomass briquette market valued USD 350 million in 2019 and is estimated to reach USD XX billion by 2027, at a CAGR of 6.5% during the forecast period.
The growing demand for biofuel substitutes in industrial applications coupled with efforts to reduce the consumption of fossil fuels is the primary growth factor for biomass briquettes market. Governments and environmental protection agencies are striving to reduce the use of fossil fuels and unrenewable energy sources to curb global warming and rising greenhouse gas emissions. Bio-briquettes found as the sustainable alternative to coal in industrial heating applications and reliable energy source. Other potential benefits of these blocks including high combustibility, low residue content, sulfur-free and economic factors are boosting the use of bio briquettes in these applications. Utilization of biomass briquettes is also beneficial to the environment in that it eliminates on-field burning of agriresidues by providing alternative market for commercial utilization as fuel.
However, the lack of favorable policies that promote the production and utilization of bio-briquettes is hindering the market growth in most of the geographies
The market has been segmented by type biomass type into sawdust briquettes, agro-waste briquettes and wood briquettes. Agro-waste is the largest source of bio-briquettes globally constituting nearly 60% of the total production. Grain husk, groundnut shells, bagasse and several other farm residues undergo various processing procedures such as drying, mixing, molding or compressing in pellet machines to form cylindrical blocks
By Geography, Europe is the key region in the market growth. Biomass briquettes are widely used to meet industrial and domestic energy requirements in most of the European countries. Countries such as Hungary, Poland and Austria are on the forefront of consumption. Abundance of biomass residues led to the production of biomass briquettes. Developing nations in the region has been the largest consumer of bio-briquettes historically, majorly in domestic cooking activities owing to limited sources of cooking fuel. The market is recently gaining prominence among developed economies, which use these blocks for heating boilers in electricity generation. China is likely to witness largest growth rate in market penetration owing to government policies towards boosting production.
The global biomass briquette market is highly fragmented with the presence of large number of companies. Majority of bio-briquette manufacturers are small to medium sized companies with limited production capacity and geographical reach. The market is also stagnant in terms of production technology with most of the current manufacturing facilities equipped with either piston press or screw extrusion machines. However, the favoring policies to boost the use of sustainable fuels is likely to increase demand in local applications and boost profit margins in near future.