Wood pellets are a solid fuel produced by crushing and concentrating waste wood such as sawdust. Contact to buy wood pellets for export in Vietnam: +84 366 274 472 (Rachel Duong)
Table of contents
1. Overview of the wood pellets market in 2022
2. Development trend of wood pellets in 2022 – 2023
3. The export potential of wood pellets in Vietnam
4. Factories producing wood pellets in bulk in Vietnam
1. Wood pellet market overview in 2022
| Imports | 4,109.0 Million USD |
| Exports | 4,532.7 Million USD |
| Top Importers | UK, Italy, Netherlands |
| Top Exporters | U.S., Canada, Viet Nam |
The global wood pellets market is valued at USD 11.42 billion by 2021. In the future, this market is forecast to reach a value of USD 17.33 billion by 2027, at a CAGR of 6.85 % in the period 2022-2027.
The global wood pellets market is expected to exceed the value of US$31 billion by 2030, expanding at a CAGR of ~11 % during the forecast period.
Figure 1: Development of the market for wood pellets in countries
2. Development trend of wood pellets
Increasing demand for renewable energy globally: Key driver of wood pellet market
- According to the International Energy Agency, in December 2020, global carbon emissions were 2%, or 60 million tons higher than they were in the same month a year earlier. More carbon emission leads to negative effects such as heat-trapping, rise in maximum temperature, rise in minimum temperature, etc., which are responsible for global warming.
- The carbon emission rate should be on the lower side in order to curb the harmful effects of global warming, and this can be achieved by introducing energy sources that are carbon-free. Thus, renewable energy sources come into the picture, and clean energy can be produced by using renewable energy sources.
- Renewable energy is a prominent alternative to conventional energy (which is generated from fossil fuel), and several nations have imposed stringent rules to lower the use of fossil fuels and reduce their carbon footprint. Thus, a surge in the demand for renewable energy sources fueled renewable power generation by approximately 7.4% in 2019, which was the highest over the past five years. Production of renewable electricity stood at 2537 GW in 2019.
- Wood pellets are made from compacted sawdust and related industrial wastes from the milling of lumber, manufacture of wood products, and furniture. After the combustion of wood pellets, the emission of harmful gases is very low as compared to other fossil fuels. Demand is considerably high from thermal industries to generate clean energy; power can even be generated by co-firing wood pellets with coal. Thus, huge capital investment is not needed to generate power using wood pellets. These reasons create lucrative opportunities for the global wood pellets market.
Change in Policies Related to Coal-Fired Plant
- The number of countries accepting the “Paris Climate Change Agreement” has been increasing significantly across the globe. The agreement enforces countries to decrease their carbon footprint and greenhouse gases by reducing their dependence on fossil fuels.
- Wood pellets produced from sawdust and wood shavings offer environmental benefits over fossil fuels such as natural gas and heating oils. Wood pellets produce low volumes of hydrocarbons such as carbon dioxide (CO2) and methane. Additionally, wood pellets are carbon neutral, and switching from coal or natural gas to reduces greenhouse gas (GHG) emissions.
Coal-fired thermal power plant
- In December 2018, Canada announced regulations to phase out coal-fired as well as natural gas-fired electricity by 2030 to reduce greenhouse gas (GHG) emissions in order to tackle climate change and to fulfill its commitment to the Paris Agreement. The decision made by the Government of Canada related to greenhouse gas (GHG) emission is expected to boost investment in the wood pellets industry, as wood pellets are considered an efficient alternative required for green power generation.
- In Rotterdam, the Netherlands, the coal-fired power plant that is converted to pellet use generates about 5.5 TWh per year, which is over 40% more electricity than that generated by wind farms in Norway. This clearly represents the efficiency of wood pellets in generating energy, as compared to that of other renewable sources. The conversion of coal-fired power plants to pellets to generate electricity is driving the global wood pellets market in numerous countries.
3. The export potential of wood pellets in Vietnam
According to the Vietnam Wood and Forest Products Association, pellets are an emerging item of the export wood processing industry. The production and export of this product have only grown stronger in the past 5 years, but now Vietnam has become the second largest exporter of tablets in the world, after the United States, with export volume. over 3 million tons per year, achieving an export turnover of approximately 400 million USD.
Vietnam’s tablet exports are still on the upswing. Particularly in 2021, Vietnam’s pellet exports will reach 3.5 million tons, export turnover of 413 million USD. Japan and South Korea are the two largest markets for Vietnam’s tablet consumption, accounting for over 95% of total tablet exports. Up to now, the scale of Vietnam’s tablet exports to Japan and Korea is almost equal. In 2021, the volume of pellets exported to Korea accounted for 56% and Japan accounted for 43.8%. However, the growth rate of the Japanese market is much stronger and more stable than that of the Korean market. According to the functional industry, in the future, the demand for tablets in the Japanese market will increase 3 times now. Therefore, Vietnam’s tablets have a great opportunity to expand the market in Japan.
4. Bulk wood pellet factories in Vietnam
Due to the increasing demand for wood pellets, manufacturing plants have developed rapidly in the world in recent years. They are considered a form of carbon-neutral renewable energy. So power plants started to convert their coal-based systems to pellet-fired systems or plants that used both coal and pellets at the same time.
Wood pellet factory in Vietnam
Most of the factories are concentrated in production in provinces with advantages of afforestation such as Phu Tho, Dak Lak, Lam Dong, An Giang, Ca Mau, and Ninh Binh, .. Vinexco company is one of the companies leading company in Vietnam in the field of research and development, production of all kinds of biomass fuels, and distribution to companies and industrial groups.
Company strengths:
+ Respond to all customer orders
+ Competitive price in the market
+ Delivery on time, enough quantity
Consultancy contact:
Email: sales2.vinex@gmail.com
WhatsApp/Phone: (+84) 336 274 472472 – Rachel Duong
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