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How big is the wood pellet industry?

The wood pellet industry is a steadily growing sector within the renewable energy and biomass markets, driven by demand for sustainable heating and power generation alternatives. The global wood pellets market was valued at USD 13.3 billion in 2023 and is projected to reach USD 14.0 billion in 2024. Looking further ahead, it is expected to expand to USD 22.6 billion by 2033, exhibiting a compound annual growth rate (CAGR) of 5.5% during the forecast period of 2025 to 2033. This growth is propelled by increasing adoption of wood pellets as a low-carbon fuel source, supportive government policies promoting renewable energy, and rising demand in residential, industrial, and power plant applications, positioning the industry as a key contributor to the global shift toward greener energy solutions over the next decade.

Read the full report here: https://www.imarcgroup.com/wood-pellet-market

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