Europe Wood Chips Market Research Report Forecast to 2028

Europe Wood Chips Market Research Report Forecast to 2028

Market Overview

The Europe wood chips market was valued at USD 6,008.91 million in 2020 and is projected to reach USD 12,343.25 million by 2028 at a CAGR of 9.71Wood chips are small or medium-sized pieces of wood produced by cutting and chiseling large pieces of wood, including trees, branches, logging residues, roots, wood waste, and stumps. The process of making wood chips is known as wood chipping. The equipment used for producing wood chips is known as woodchipper.

There are different types of woodchippers used. Every chipper has a different benefit, depending on the type of handling of wood chips. Wood chips can also be obtained from residual forest materials such as tree branches, unsaleable materials, tree crowns, and under-sized trees. Forestry activities provide raw materials required for wood chip production. Nearly any tree can be transformed into wood chips; however, the type and quality of wood used to manufacture wood depends on the end-use industry.

A prominent driver of the global market is the rising demand for wood chips in pulp and the power generation & energy industries. In the energy sector, wood chips offer a superior energy coefficient and thus are widely used in the power industry as an energy source. Another major driver of the global market is the use of wood chips in pulp production and charcoal manufacturing. In addition, an increase in the number of distributors and suppliers of wood chips in Europe is predicted to open up new potential opportunities in the Europe wood chips market.

A key limitation in the global market is the trading policies associated with wood chips in Europe. However, the availability of substitutes, such as wood pellets, acts as a key restraint to the market growth during the forecast period.

Market Segmentation

Furthermore, the growing demand for wood chips can be attributed to their ability to feed the soil, suppress weeds, regulate temperature and moisture, and reduce waste and their easy availability, visual attractiveness, and low maintenance cost. Moreover, the need for wood chips for preventing damage of trunks from mowers is likely to present a new growth opportunity for the market players.

As per MRFR analysis, the Europe market has been segmented based on type and country. By type, the wood chips market has been segmented into forest chips, recycled chips, wood residue chips, and sawing residue chips.

Regional Analysis

In terms of country, the Rest of the Europe emerged as the leading and fastest-growing market, accounting for 40.35% of the European market in 2020, mainly due to the availability of raw materials in the area. Moreover, growing investment in R&D for various manufacturers operating in this region is expected to significantly boost the product demand in the next few years.

Major Players

The key wood chips manufacturers operating in the Europe market are EVOWORLD GmbH (Austria), Enviva Pellets (US), Mitsui & Co., Ltd. (Japan), Oji Holdings (Japan), Ørsted A/S (Denmark), Sojitz Corporation (Japan), Verdo A/S (Denmark), Axpo Group (Switzerland), and Koch Industries, Inc (US).

COVID 19 Impacts

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