Biomass Briquette Fuel Market By Raw Material (Saw Dust, Wood, Rice Husk, Groundnut Shells, Bagasse, Others), By Application (Brick Kilns, Dyeing Plants, Oil Extraction Units, Cooking and Baking, Others) By End-Use Industry (FMCG and Beverage, Pharmaceuticals, Cement Manufacturing, Power Generation, Leather, Rubber, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Biomass Briquette Fuel Market
The biomass briquette fuel market was valued at $0.9 billion in 2023 and is projected to reach $1.8 billion by 2033, growing at a CAGR of 7.1% from 2024 to 2033.
Biomass briquette fuel is a biodegradable substitute for the harmful biofuel. The fuel is prepared from biodegradable green waste and emits low quantities of carbon dioxide and greenhouse gases. Biomass briquette fuel is formed under high pressure without additional binders or adhesives and is known for its high energy density. The fuel is utilized for diverse applications, including industrial processes, residential heating, and power generation.
Increase in inclination toward the usage of renewable sources of energy is a major driver of the biomass briquette fuel market. Moreover, surge in global focus toward sustainability is projected to boost the demand for briquette fuel in the future. Currently, the usage of organic binders such as starch and molasses is acquiring traction as they enhance the combustion efficiency of briquette fuel and further reduce the emissions generated from it.
However, the availability of biomass for fuel production is subjected to several constraints, including geographical limitations, seasonal fluctuations, and contesting applications. This restrictive availability of biomass prevents the widespread expansion of the market. On the contrary, various R&D efforts by scientists around the globe present lucrative opportunities for market development. For instance, the formation of briquettes from dry pine needles (DPNs) is expected to acquire traction in upcoming years. DPNs are highly combustible in nature and are a leading cause for fires in the Indian Himalayan forests. The scientists at Central Institute of Agricultural Engineering, Bhopal, India, have discovered DPNs as a highly beneficial asset for the biomass briquette fuel market as they have high thermal efficiency and low greenhouse gases emissions. In addition, the removal of DPNs from forests is expected to mitigate the environmental damage caused by forest fires.
Segment ReviewThe biomass briquette fuel market is segmented into raw material, application, end-use industry, and region. On the basis of raw material, the market is divided into saw dust, wood, rice husk, groundnut shells, bagasse, and others. By application, it is classified into brick kilns, dyeing plants, oil extraction units, cooking & baking, and others. As per end-use industry, it is categorized into FMCG & beverage, pharmaceuticals, cement manufacturing, power generation, leather, rubber, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of raw material, the rice husk segment is expected to maintain its lead position during the forecast period.
By application, the oil extraction units segment is anticipated to be the most lucrative during the forecast period.
As per end-use industry, the power generation segment is predicted to acquire a high market share during the forecast period.
Region wise, Asia-Pacific is projected to be the highest revenue generator by 2033.
Competition AnalysisThe major players operating in the global biomass briquette fuel market include KKR Bio Fuels, Yashhraj Group of Companies, Ecostan, Gattuwala, Energy Plus India, Sree Amman Briquettes, NIRMALA & SIDDAGANGA BIOFUEL INDUSTRIES, Neerpati Biofuels Private Limited, NARSIHMA AGRO INDUSTRIES, and Vidhyut Power & Systems. These players have adopted various key developmental strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the market.
Key Market SegmentsBy Raw MaterialSaw Dust
Wood
Rice Husk
Groundnut Shells
Bagasse
Others
By ApplicationBrick Kilns
Dyeing Plants
Oil Extraction Units
Cooking and Baking
Others
By End-Use IndustryFMCG and Beverage
Pharmaceuticals
Cement Manufacturing
Power Generation
Leather
Rubber
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
KKR Bio Fuels
Yashhraj Group of Companies
Ecostan
Gattuwala
Energy Plus India
Sree Amman Briquettes
NIRMALA & SIDDAGANGA BIOFUEL INDUSTRIES
Neerpati Biofuels Private Limited
NARSIHMA AGRO INDUSTRIES
Vidhyut Power & Systems