October 3rd, 2022
Global Wood Chips Market size was valued at USD 7.88 Billion in 2021 and is projected to reach USD 13.16 Billion by 2028, growing at a CAGR of 7.6% from 2022 to 2028.
Wood chips are created by cutting and chipping large pieces of wood such as logging residues, roots, stumps, branches, and wood waste. These are used as raw materials in the production of wood pulp. Woodchips are organic mulch that is widely used in gardening, landscaping, and bioreactors for DE nitrification, as well as a substrate for mushroom farming.
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The increase in demand from the pulp industry is the most important factor influencing the demand for wood chips. Wood chips are used as a raw material to make pulp, which is then burned to make bio char, also known as charcoal. Furthermore, an increase in demand for renewable energy generation contributes to market growth. The increased use of renewable energy sources such as biomass as a result of depleting conventional energy sources is propelling the wood chips market. Increased demand for wood chips in the pulp industry, where wood chips are used as a raw material to produce pulp, is also boosting the wood chips market. When wood chips are burned, they produce biochar, which is also known as charcoal. It can be used as charcoal or returned to the soil as a fertilizer. This is also expected to drive the wood chips market during the forecast period.
The Major Players in the Wood Chips Market Include:
· St. Boniface Pallet
· American Wood Resources
· Axpo Group
· Great Northern Timber
· EVOWORLD GmbH
· Boniface Pallet Company Ltd
· 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 of Wood Chips market:
By Product Type:
· Combined Heat and Power
· Residential and Commercial Heating
· Playground Surfacing
· Pulp Manufacturing
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Geographic Segment Covered in the Report
· North America (U.S., Canada, Mexico)
· Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
· Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
· Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
· South America (Brazil, Argentina, Rest of South America)
Knowing market share in the base year provides you an idea of the competition and size of the suppliers. It reflects the market's fragmentation, accumulation, dominance, and amalgamation features. The Competitive Scenario provides an outlook study of the suppliers' various industry growth plans. This section's news provides vital insights at various stages while keeping up with the industry and engaging players in the economic discussion. Merger & Acquisition, Collaboration, Partnership, Agreement, Investment & Funding, New Product Launch & Enhancement, Recognition, Rewards & Expansion are the categories that the competitive scenario represents. All of the research data collected helps the vendor identify market gaps as well as competitor weaknesses and strengths, helping them to better their service and product.
Covid-19 Impact and Recovery Analysis on Industry:
The COVID-19 pandemic has had devastating effects on several industry verticals globally. To constrain the number of cases and slow the coronavirus spread, various public health guidelines were implemented in different countries across the globe. COVID-19 protocols ranging from declaring national emergency states, enforcing stay-at-home orders, closing nonessential business operations and schools, banning public gatherings, imposing curfews, distributing digital passes, and allowing police to restrict citizen movements within a country, as well as closing international borders. With the growing vaccination rate, governments are uplifting the protocols to give a boost to the stagnant economy. Like other industries, Wood Chips Market have experienced slowdown the growth, however market is expected bounce back as restrictions are being lifted up by governments across the globe.
Reasons to Purchase this Market Report:
· Market forecast analysis through recent trends and SWOT analysis
· Wood Chips Market Dynamics Scenarios with Market Growth Opportunities over the Next Year
· Market segmentation analysis, including qualitative and quantitative studies that include economic and non-economic impacts
· Wood Chips Market Regional and country-level analysis that integrates demand and supply forces that impact the growth of the market.
· Competitive environment related to the Wood Chips market share for key players, along with new projects and strategies that players have adopted over the past five years
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