The global biomass briquette fuel market is propelled by climate
change mitigation. One of the most significant drivers of the
biomass briquette fuel market is the global effort to mitigate
climate change. Biomass briquettes are considered a renewable and
carbon-neutral energy source. When biomass is burned, the carbon
dioxide released is roughly equal to the amount absorbed by the
plants during their growth, making the net carbon emissions much
lower than those from fossil fuels.
Wilmington, Del., Aug. 8, 2024 /PRNewswire/ -- Allied Market
Research published a report, titled, "Biomass
Briquette Fuel Market by Raw Material (Saw Dust, Wood,
Rice Husk, Groundnut Shells, Bagasse and Others), Application
(Brick Kilns, Dyeing Plants, Oil Extraction Units, Cooking and
Baking and Others), and End-Use Industry (FMCG and Beverage,
Pharmaceuticals, Cement Manufacturing, Power Generation, Leather,
Rubber and Others): Global Opportunity Analysis and Industry
Forecast, 2024-2033". According to the report, the biomass
briquette fuel market was valued at $0.9
billion in 2023, and is estimated to reach $1.8 billion by 2033, growing at a CAGR of 7.1%
from 2024 to 2033.
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Prime determinants of growth
The global biomass briquette fuel market is driven by rise in
technological advancements, which have significantly improved the
efficiency and quality of biomass briquettes. Modern briquetting
machines can process a wide variety of biomass types and produce
briquettes with high calorific value and low moisture content.
Innovations in pre-treatment processes, such as torrefaction and
palletization, enhance the energy density and combustion efficiency
of briquettes, making them more competitive with conventional
fuels. This factor is expected to act as one of the key drivers
responsible for the growth of the biomass briquette fuel market
during the forecast period. However, high initial investments in
setting up biomass briquette manufacturing units is anticipated to
restrain the investors with less investment potential to enter in
the biomass briquette fuel market.
Report coverage & details:
Report
Coverage
|
Details
|
Forecast
Period
|
2024–2033
|
Base
Year
|
2023
|
Market Size in
2023
|
$0.9
billion
|
Market Size in
2033
|
$1.8
billion
|
CAGR
|
7.1 %
|
No. of Pages in
Report
|
550
|
Segments
covered
|
Raw Material,
Application, End-Use Industry, and Region.
|
Drivers
|
- Public policies and regulatory
support
- Growing preference for sustainable
activities
- Rapid shift towards renewable energy
sources
- Climate Change Mitigation
|
Opportunities
|
- Government incentives and
subsidies
- Technological Advancements in
Briquetting Techniques
|
Restraints
|
|
The rice husk segment to maintain its lead position during
the forecast period.
Rice is one of the most widely cultivated crops worldwide,
especially in Asia-Pacific
countries like China, India, Indonesia, Vietnam, and Thailand. The large-scale production of rice
results in a significant quantity of rice husks as a by-product.
Furthermore, the continuous cultivation and harvesting of rice
ensure a steady and reliable supply of rice husks, making them a
dependable raw material for briquette production.
Also, rice husks are a by-product of rice milling.
Traditionally, they have little economic value and are often
considered waste. This makes them a low-cost raw material for
briquette manufacturers. Utilizing rice husks for briquette
production can reduce waste disposal costs for rice mills, further
contributing to cost savings.
Procure Complete Report (550 Pages PDF with Insights, Charts,
Tables, and Figures) @ https://bit.ly/3A9crUT
The oil extraction units segment is expected to be the most
lucrative segment during the forecast period.
Biomass briquette fuel is predominantly used in oil extraction
units due to its cost-effectiveness, high calorific value, and
environmental benefits. These briquettes provide a steady,
reliable, and sustainable source of heat required for the oil
extraction process, ensuring efficient and consistent operation.
Unlike fossil fuels, biomass briquettes produce lower emissions,
helping oil extraction units comply with environmental regulations
and reduce their carbon footprint. Additionally, using locally
sourced biomass briquettes can reduce dependency on imported fuels,
enhance energy security, and support local economies. This
combination of economic, operational, and environmental advantages
makes biomass briquettes an attractive fuel option for oil
extraction units.
The power generation segment to maintain its lead position
during the forecast period.
Biomass briquette fuel is predominantly used in power generation
due to its suitability for large-scale energy production, high
energy density, and environmental benefits. Biomass briquettes
offer a renewable and carbon-neutral alternative to fossil fuels,
aligning with global efforts to mitigate climate change. Power
generation plants can easily integrate biomass briquettes into
existing infrastructure, such as boilers and turbines, enabling
efficient conversion of biomass energy into electricity.
Additionally, biomass briquettes provide a reliable and stable
energy supply, reducing dependency on volatile fossil fuel markets.
The environmental advantages, coupled with the scalability and
compatibility with power generation systems, make biomass
briquettes an attractive choice for meeting electricity demand
sustainably.
Asia-Pacific to maintain its
dominance by 2033
The biomass briquette fuel market in the Asia-Pacific region continues to expand due to
a combination of environmental concerns, economic factors, and
policy initiatives. With the region facing severe air pollution and
striving to reduce carbon emissions, biomass briquettes offer a
cleaner alternative to traditional fossil fuels, aligning with
sustainability goals and climate targets. Additionally, the
abundance of agricultural and forestry residues in the region
provides a readily available and cost-effective raw material for
briquette production. Supportive government policies, including
subsidies and incentives for renewable energy, further drive the
adoption of biomass briquettes, promoting energy security and rural
development. These factors collectively contribute to the rising
demand for biomass briquette fuel in the Asia-Pacific region.
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Leading Market Players: -
- KKR Bio Fuels
- Yashhraj Group of Companies
- Ecostan
- Gattuwala.
- Energy Plus India
- Sree Amman Briquettes
- NIRMALA & SIDDAGANGA BIOFUEL INDUSTRIES
- Neerpati Biofuels Private Limited
- NARSIHMA AGRO INDUSTRIES
- Buyo India Pvt Ltd
- Vidhyut Power &
Systems
The report provides a detailed analysis of these key players in
the global biomass briquette fuel market. These players have
adopted different strategies such as new product launches,
collaborations, expansion, joint ventures, agreements, and others
to increase their market share and maintain dominant shares in
different regions. The report is valuable in highlighting business
performance, operating segments, product portfolio, and strategic
moves of market players to showcase the competitive scenario.
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