Wood Chips Market Scope and Size by 2031
The Wood Chips Market is expected to register a CAGR of 10% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report presents analysis based on product (softwood and hardwood). The report is segmented by application (biomass fuel, wood pulp, mulch, and others). The report is segmented by distribution channel (direct and indirect). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Wood Chips Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Wood Chips Market Segmentation
Product- Softwood and Hardwood
- Biomass Fuel
- Wood Pulp
- Mulch
Strategic Insights
Wood Chips Market Growth Drivers- Increased Demand for Renewable Energy: Renewable energy is considered a significant key driver of the wood chips market. There has been a growing use of biomass fuels like wood chips as countries and industries continuously look for cleaner sources of energy. The wood has given rise to increasing demand in power generation because it is a sustainable alternative.
- Benefits of Environment and Carbon-Neutrality: Wood chips on burning consider carbon neutrality, making them a perfect biomass feedstock for curtailing greenhouse gas emissions. Wood chips are becoming increasingly popular in the industry and governments since they are a better option for environmental benefits while moving toward a cleaner and more sustainable process for energy production.
- Raising Consciousness in Biomass Power Plants: The major contributor to letting wood chips market increase is the increasing number of biomass power plants for energy generation. The wood chips are most suited for electricity generation and industrial heating applications. Their availability and relatively low cost make them the first choice for the power and heat sectors, hence further increasing the growth of the market.
- Increasing Biomass Energy Conversion: Indeed, biomass energy conversion can be regarded as one of the most important prospects of the future for advancement in the wood chips market. It's true that biomass was a means of reducing dependency on fossil fuels when the entire globe turned to renewable energy sources. With so much biomass, wood chips are increasingly being tapped into for energy generation for the most diverse market opportunities.
- Reducing Carbon Emissions and Supporting Sustainability: Transforming wood chips into bioenergy benefits climate change by reducing carbon emissions and contributes to sustainable energy goals. The conversion methods, which include combustion and gasification, are catching up as the more environment-friendly means of powering demand for generation and heating applications. This is another driving force in the market for biomass fuels, considering the continuing emphasis on global green initiatives.
- Advancements in Biomass Processing: New techniques have also been coming up, making biomass energy conversion more cost-efficient and at the same time, minimizing losses. Development in biomass processing equipment and energy conversion technologies would change the attractiveness of wood chips as a reliable, cost-effective, renewable source of energy. As a result, there is increasing attraction of the wood chips market to investors and energy companies.
- Technological Advancements in Precision Agriculture: Advancements in technologies related to precision agriculture and forestry are responsible for the most considerable growth opportunities in the wood chip market. Sustainable management has been improved by the application of these future advanced technologies, optimizing the quality and quantity of timber resources. By effectively managing and shaping the growth and harvesting processes, an interesting guaranteed supply of high-quality wood will be ensured for chip production.
- Integration of Drones and Data Analytics to Revolutionizing Sustainable Forestry Practices: Drones, sensory tools, and data analytics have been the new way of precision agriculture monitoring for crops and forests. These devices collect measurements for growth patterns with tree health and resource needs, implying that the practice is sustainable for the trees. This is most effective in using less wood material because it conserves.
- Efficient Forestry Technologies: In this way of being very efficient in the money it uses, the forestry sector can further embrace these new technologies like remote sensing automated machinery for its logging processes to ensure maximum yield with reduced environmental damage. All these innovations will ensure more wood chips supply biomass energy and many more industries that will use wood chips for added applications making in the basket.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Wood Chips Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Wood Chips Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Wood Chips Market is estimated to witness a CAGR of 10% from 2023 to 2031
The renewable energy sector is driving the market growth.
Oji Holdings Corporation; American Wood Resources, LLC; St. Boniface Pallet; Cogent Forest Products; Verdo; Supreme Industries; Eastwood Energy; GREAT NORTHERN TIMBER; LA.SO.LE. EST S.P.A.; and Kebur Garden Materials are some of the wood chips market
Based on product, the softwood segment is expected to witness the fastest growth during the forecast period
Based on geography, Europe held the largest share of the wood chips market, due to the region's strong focus on renewable energy and sustainability, where wood chips are widely used as biomass fuel for power generation and heating applications. European countries, especially those in Scandinavia, have well-established biomass industries and extensive forest resources that support the demand for wood chips.
Biomass energy transformation is expected to be the key market trends.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Wood Chips Market - By ProductÂ
1.3.2Wood Chips Market - By Application
1.3.3Wood Chips Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.WOOD CHIPS MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.EXPERT OPINIONS
5.WOOD CHIPS MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.WOOD CHIPS MARKET - GLOBAL MARKET ANALYSIS
6.1.WOOD CHIPS - GLOBAL MARKET OVERVIEW
6.2.WOOD CHIPS - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.WOOD CHIPS MARKET - REVENUE AND FORECASTS TO 2028 – PRODUCTÂ
7.1.OVERVIEW
7.2.PRODUCTÂ MARKET FORECASTS AND ANALYSIS
7.3.SOFTWOOD
7.3.1.Overview
7.3.2.Softwood Market Forecast and Analysis
7.4.HARDWOOD
7.4.1.Overview
7.4.2.Hardwood Market Forecast and Analysis
8.WOOD CHIPS MARKET - REVENUE AND FORECASTS TO 2028 – APPLICATION
8.1.OVERVIEW
8.2.APPLICATION MARKET FORECASTS AND ANALYSIS
8.3.COMBINED HEAT AND POWER (CHP)
8.3.1.Overview
8.3.2.Combined heat and power (CHP) Market Forecast and Analysis
8.4.HOUSEHOLD FURNISHING
8.4.1.Overview
8.4.2.Household furnishing Market Forecast and Analysis
8.5.RESIDENTIAL HEATING
8.5.1.Overview
8.5.2.Residential heating Market Forecast and Analysis
8.6.OTHERS
8.6.1.Overview
8.6.2.Others Market Forecast and Analysis
9.WOOD CHIPS MARKET REVENUE AND FORECASTS TO 2028 – GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Wood Chips Market Overview
9.1.2North America Wood Chips Market Forecasts and Analysis
9.1.3North America Wood Chips Market Forecasts and Analysis - By ProductÂ
9.1.4North America Wood Chips Market Forecasts and Analysis - By Application
9.1.5North America Wood Chips Market Forecasts and Analysis - By Countries
9.1.5.1Canada Wood Chips Market
9.1.5.1.1Canada Wood Chips Market by ProductÂ
9.1.5.1.2Canada Wood Chips Market by Application
9.1.5.2Mexico Wood Chips Market
9.1.5.2.1Mexico Wood Chips Market by ProductÂ
9.1.5.2.2Mexico Wood Chips Market by Application
9.1.5.3US Wood Chips Market
9.1.5.3.1US Wood Chips Market by ProductÂ
9.1.5.3.2US Wood Chips Market by Application
9.2.EUROPE
9.2.1Europe Wood Chips Market Overview
9.2.2Europe Wood Chips Market Forecasts and Analysis
9.2.3Europe Wood Chips Market Forecasts and Analysis - By ProductÂ
9.2.4Europe Wood Chips Market Forecasts and Analysis - By Application
9.2.5Europe Wood Chips Market Forecasts and Analysis - By Countries
9.2.5.1Germany Wood Chips Market
9.2.5.1.1Germany Wood Chips Market by ProductÂ
9.2.5.1.2Germany Wood Chips Market by Application
9.2.5.2France Wood Chips Market
9.2.5.2.1France Wood Chips Market by ProductÂ
9.2.5.2.2France Wood Chips Market by Application
9.2.5.3Italy Wood Chips Market
9.2.5.3.1Italy Wood Chips Market by ProductÂ
9.2.5.3.2Italy Wood Chips Market by Application
9.2.5.4United Kingdom Wood Chips Market
9.2.5.4.1United Kingdom Wood Chips Market by ProductÂ
9.2.5.4.2United Kingdom Wood Chips Market by Application
9.2.5.5Russia Wood Chips Market
9.2.5.5.1Russia Wood Chips Market by ProductÂ
9.2.5.5.2Russia Wood Chips Market by Application
9.2.5.6Rest of Europe Wood Chips Market
9.2.5.6.1Rest of Europe Wood Chips Market by ProductÂ
9.2.5.6.2Rest of Europe Wood Chips Market by Application
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Wood Chips Market Overview
9.3.2Asia-Pacific Wood Chips Market Forecasts and Analysis
9.3.3Asia-Pacific Wood Chips Market Forecasts and Analysis - By ProductÂ
9.3.4Asia-Pacific Wood Chips Market Forecasts and Analysis - By Application
9.3.5Asia-Pacific Wood Chips Market Forecasts and Analysis - By Countries
9.3.5.1Australia Wood Chips Market
9.3.5.1.1Australia Wood Chips Market by ProductÂ
9.3.5.1.2Australia Wood Chips Market by Application
9.3.5.2China Wood Chips Market
9.3.5.2.1China Wood Chips Market by ProductÂ
9.3.5.2.2China Wood Chips Market by Application
9.3.5.3India Wood Chips Market
9.3.5.3.1India Wood Chips Market by ProductÂ
9.3.5.3.2India Wood Chips Market by Application
9.3.5.4Japan Wood Chips Market
9.3.5.4.1Japan Wood Chips Market by ProductÂ
9.3.5.4.2Japan Wood Chips Market by Application
9.3.5.5South Korea Wood Chips Market
9.3.5.5.1South Korea Wood Chips Market by ProductÂ
9.3.5.5.2South Korea Wood Chips Market by Application
9.3.5.6Rest of Asia-Pacific Wood Chips Market
9.3.5.6.1Rest of Asia-Pacific Wood Chips Market by ProductÂ
9.3.5.6.2Rest of Asia-Pacific Wood Chips Market by Application
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa Wood Chips Market Overview
9.4.2Middle East and Africa Wood Chips Market Forecasts and Analysis
9.4.3Middle East and Africa Wood Chips Market Forecasts and Analysis - By ProductÂ
9.4.4Middle East and Africa Wood Chips Market Forecasts and Analysis - By Application
9.4.5Middle East and Africa Wood Chips Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Wood Chips Market
9.4.5.1.1South Africa Wood Chips Market by ProductÂ
9.4.5.1.2South Africa Wood Chips Market by Application
9.4.5.2Saudi Arabia Wood Chips Market
9.4.5.2.1Saudi Arabia Wood Chips Market by ProductÂ
9.4.5.2.2Saudi Arabia Wood Chips Market by Application
9.4.5.3U.A.E Wood Chips Market
9.4.5.3.1U.A.E Wood Chips Market by ProductÂ
9.4.5.3.2U.A.E Wood Chips Market by Application
9.4.5.4Rest of Middle East and Africa Wood Chips Market
9.4.5.4.1Rest of Middle East and Africa Wood Chips Market by ProductÂ
9.4.5.4.2Rest of Middle East and Africa Wood Chips Market by Application
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America Wood Chips Market Overview
9.5.2South and Central America Wood Chips Market Forecasts and Analysis
9.5.3South and Central America Wood Chips Market Forecasts and Analysis - By ProductÂ
9.5.4South and Central America Wood Chips Market Forecasts and Analysis - By Application
9.5.5South and Central America Wood Chips Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Wood Chips Market
9.5.5.1.1Brazil Wood Chips Market by ProductÂ
9.5.5.1.2Brazil Wood Chips Market by Application
9.5.5.2Argentina Wood Chips Market
9.5.5.2.1Argentina Wood Chips Market by ProductÂ
9.5.5.2.2Argentina Wood Chips Market by Application
9.5.5.3Rest of South and Central America Wood Chips Market
9.5.5.3.1Rest of South and Central America Wood Chips Market by ProductÂ
9.5.5.3.2Rest of South and Central America Wood Chips Market by Application
10.INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11.WOOD CHIPS MARKET, KEY COMPANY PROFILES
11.1.AMERICANÂ WOOD RESOURCES, LLC
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.BONIFACE PALLET COMPANY LTD
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.COGENT FIBRE, INC.
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.ENVIVA PELLETS, LLC
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.EVOWORLD GMBH
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.MITSUI AND CO., LTD.
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.OJI HOLDINGS
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.ORSTED A/S
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.SOJITZ CORPORATION
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.VERDOÂ A/S
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
1. American Wood Resources, LLC
2. Boniface Pallet Company Ltd
3. Cogent Fibre, Inc.
4. Enviva Pellets, LLC
5. Evoworld GmbH
6. Mitsui and Co., Ltd.
7. Oji Holdings
8. Orsted A/S
9. Sojitz Corporation
10. Verdo A/S
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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