Global Biomass Market Overview
Biomass is exploitation of electricity from natural and cleanest source of energy by escaping the use of electrical grid or powerhouse station. Biomass is unwanted material from plants or animals that is not recycled for food or feed. It can be left-over material from farming (like wheat stalks) or horticulture (yard waste), food processing (like corn cobs), animal farming (manure rich in nitrogen and phosphorus), or human waste from sewage plants. It is used in various industrial processes, like energy production or as raw materials for manufacturing chemicals.
Burning of biomass discharges carbon emissions, but has been categorized as a renewable energy source in the EU and UN legal frameworks, because plant frameworks can be replaced with new growth. It has become common among coal power stations that can shift to biomass from coal in order to transform to renewable energy generation without wasting recent generating plant and infrastructure. Biomass most frequently refers to an energy source which can either be used straight away via combustion to produce heat, or indirectly after converting it to numerous forms of biofuel. Conversion of biomass to biofuel can be achieved by different approaches which are broadly classified such as, thermal, chemical, and biochemical. Some chemical elements of plant biomass include lignins, cellulose, and hemicellulose.
Market Size & Forecast
The global Biomass Market is expected to grow at a significant CAGR in the forecast period 2018-2027.
On the basis of regional platform, global Biomass Market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Europe and North America is expected to witness the promising growth for Global Biomass Market till forecast period 2018-2027. Additionally, increasing support from government on renewable source of energy demands for trading in energy sector is positively supporting for the growth of Biomass market.
Asia Pacific is also expected to showcase tremendous growth in Biomass market backed by increased initiatives for provisions of fund from private and government organizations in eco-friendly energy system. Additionally, rising economies such as India and China coupled with strong regulations for low co2 footprints on environment is adding up the reason for successive growth of global biomass market in expected forecast period of 2018-2027. Moreover, utilization of biomass energy in household applications and various others sectors is anticipating for the remarkable growth in biomass market in future. Europe is also expected for constant growth in Biomass market on the heels of improved sustainable energy system. Moreover, governments support for environmental issue related to carbon emissions in countries such as Germany, UK and Italy is supporting for the successive growth of market.
Middle East and Latin America is also expected to witness rising growth in Global Biomass Market backed by increased infrastructure and electricity sectors. Additionally, rising demand for solar and wind energy panel is also expected to robust the growth of market in future.CLICK TO DOWNLOAD FREE SAMPLE REPORT
Our-in depth analysis of the global Biomass Market includes the following segments:
Global Biomass Markets further classified on the basis of region as follows:
Energy demand till 2017
According to “World International Energy Agency” Global energy demand raised by 1.9% in 2017 – the fastest annual increase after 2010. The forces driving up energy demand, led by strong economic growth, outpaced progress on energy efficiency. As a result energy intensity of primary energy use per unit GDP fell by 1.7% in 2017, which was the slowest rate of improvement at this decade.
Increasing applications of biomass energy
Increased applications of biomass energy in industries such as transport, boilers and furnace for performing their work is also expected to support the growth rate of market in expected forecast period of 2018-2027.
Low emission of co2 gases
Conventional energy highly emits co2 gases from burning of fossil fuels and leads to global warming. Utilizing bioethanol to biomass energy reduces greenhouse gases and drives the growth of market in forecasted period.
Supports from government
Rising demand for sustainable energy system with cleanest source of energy backed by initiatives and supports from government for biomass energy in order to attain green means of transport system is driving the growth of market.
Competition and innovations in R&D sector
Demand for sustainable energy system robust the healthy competition amongst the key players of Biomass market. Additionally, improved technique and innovations from R&D sector for optimal utilization for clean source of energy and making it usable in wider applications is driving the growth of market.
Biomass fuel is relatively expensive as compared to other fuels
One of the challenging factor that is hampering the growth of Biomass market is fluctuation in pricing in converting bioethanol to biomass energy as compared to other alternative and substitute sources of energy system.
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