The Global Wood Chips Market size is expected to grow from USD 8.49 billion in 2022 to USD 15.48 billion by 2030, at a CAGR of 7.8% during the forecast period (2023-2030).
The manufacture, sale, and use of wood chips—which are tiny bits of wood derived from a variety of sources, including logging wastes, sawmill byproducts, and wood processing operations—combine to form the wood chips market. Wood chips are a multipurpose raw material that can be used for animal bedding, landscaping, the manufacturing of pulp and paper, and biomass energy production. Wood chip quality, moisture content, size uniformity, and logistics of transportation are important factors in the industry. Demand from end-user industries, environmental restrictions, energy policies, forestry practices, and wood harvesting are some of the elements that impact market dynamics. The wood chips market provides a sustainable and renewable resource for a variety of uses, catering to sectors including forestry, landscaping, agriculture, pulp and paper, and biomass energy.
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Top Key Players Covered In Wood Chips Market
St. Boniface Pallet, American Wood Resources, Axpo Group, Great Northern Timber, EVOWORLD GmbH, Mitsui & Co., Ltd., Cogent Fibre, Enviva Pellets, Oji Holdings, Orsted A/S, Sojitz Corporation, Verdo A/S, and other major players.
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Segmentation Analysis of the Wood Chips Market
By Product Type
- Softwood
- Hardwood
- Others
By Raw Material
- Forest Chips
- Wood Residue Chips
- Sawing Residue Chips
- Short Rotation Coppice Chips
By Application
- Combined Heat and Power
- Residential and Commercial Heating
- Playground Surfacing
- Pulp Manufacturing
- Mulch
- Others
Opportunity:
Wood Chip Feeding Technology of the Future for Small-scale Biomass Boilers
While small-scale biomass boilers are now sold in Europe annually in quantities of 0.7 million, wood chip boilers remain one of the essential technologies. It is projected the it will increase to 1.6 million by 2020. One major weakness that these wood chip boilers still have is the way the fuel is fed. They are the reason for 80–90% of unplanned plant shutdowns, increased emissions, and decreased efficiency. Furthermore, the majority of feeding systems in use today discharge from the bottom, which has disadvantages such as huge building needs, faster equipment deterioration, more complicated maintenance, and expensive running costs.
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Regional Analysis Of Wood Chips Market
Asia Pacific economies, notably China and Japan, are experiencing an increase in demand for these chips in the commercial energy generation sector, which is boosting the regional market. The inclusion of precondition constraints in the Renewable Energy Directive 2 (RED 2) and the existence of GHG emission criteria in developing nations together are likely to promote market expansion.
Europe is expected to hold a significant market share of the global wood chips market, closely followed by South and North America. Historically, small-scale (20MW) facilities in Europe have generated heat and electricity using wood chips. For this purpose, local wood is typically used. For many years, West Africa has provided wood chips for energy, albeit in relatively tiny quantities. In Europe, the majority of the time, wood that has been grown locally is used to generate heat.
By Region
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
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Key Industry Development In The Wood Chips Market
In August 2021, the 7.5MW wood-fired biomass Godo Biomass Power Plant, which is slated to begin operations in March 2023, is being built, according to a report from Marubeni Corporation, a joint venture business between Chubu Electric Power Co., Inc. and Marubeni. The majority of the wood waste produced in Gifu Prefecture would be used to fuel this power plant.
In July 2021, it was announced by New Forests that it had purchased the Hilt-Siskiyou Forest, a 156,000-acre mixed-conifer forest near the border of California and Oregon, from Fruit Growers Supply Company.
In February 2019, A public solicitation for the sale of 265,000 tonnes of wood chips and firewood only for combined heat and power (CHP) in high-efficiency cogeneration plants has been made public by Croatia's public forest management utility Hrvatske ume.
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