RISI: Global wood pellet demand to double over next 10 years

VANCOUVER (Scrap Monster):  The latest study report published by RISI-the leading information provider for the global forest products industry forecasts rapid growth to global wood pellet industry over the next ten years.

According to the findings of the recent study, wood pellet demand is most likely to double from estimated 23 million tonnes in 2014 to nearly 50 million tonnes by 2024. RISI also indicates that wood pellet is gaining widespread global acceptance as alternative to fossil fuels.

The demand for wood pellet from the European heating sector is expected to remain robust as more consumers look for alternative fuel sources. European countries, especially the UK, are seen switching to wood pellets in replacement to coal for power production and other heating applications.

The regulations put forward by European Commission to reduce greenhouse gas emissions and to promote renewable portion of EU energy consumption has also spurred the demand for wood pellets. This will result in increased pellet shipments to European countries. Additionally, Korea and Japan are beginning to enter the market.

RISI supply the world's most comprehensive and current data on supply and demand, pricing and costs to customers around the globe. RISI’s clients span the entire forest products industry, from forest floor to mill floor to sales floor - including pulp and paper, wood products, timber, tissue and nonwoven segments. It has 10 offices globally in North and South America, Europe and Asia and is a subsidiary of AXIO Data Group