PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1222208
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1222208
As per the market research report by P&S Intelligence, the total size of the biomass gasification market was USD 107.7 billion in 2022, and it will grow at a rate of 7.16%, reaching USD 187.3 billion by 2030.
Forest waste leads the source segment with a share of above 30%, and it will continue on this path in the years to come. This is credited to the increasing count of CHP projects using forest waste. This is because it has an enormous amount of organic matter, macromolecules, and cellulose, supporting in the generation of heat.
The usage of fixed-bed gasifiers will grow at a rate of above 8%, because of the simplicity, solid retention time, low ash carry, and high rate of carbon conversion of this variant.
Furthermore, the increasing requirement for power is propelling the advance of the industry. Fixed-bed gasifiers are flexible enough to use various kinds of biomass, cope with small particles, and guarantee heat and mass transfer via oxidation.
Chemical production has the largest share, credited to the increasing acceptance of gasification for the manufacturing of a range of valuable commodities, such as ethanol.
The cost-effectiveness of its operation, requirement for low-value feedstock, such as agricultural and domestic biological waste, and high output are increasing the acceptance of the gasification procedure for the production of high-value chemicals.
APAC leads the industry, and it will continue like this till the end of this decade. This is credited to the large forest area in China and India, resulting in an easy accessibility of biomass for the production of chemicals, heat, and electricity through the gasification procedure.
Therefore, the easy access to waste and biomass, including sawdust, wood pulp, and paper, is snowballing the use of gasifiers in many industries for pollution minimization and safe waste disposal.
Furthermore, the growing electricity consumption because of the rampant urbanization and industrialization in emerging economies is driving the industry.
The requirement for sources of renewable energy is rising due to the reduction of the reserves of fossil fuels and the growing consciousness of the destructive ecological impact of petroleum and its byproducts. Furthermore, the increasing necessity for cost-effective, clean, and ecological production of heat will drive the industry.