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Pulished Date September, 2021
ID: 12180
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Wood Chips Market Segmentation By Product Type (Hardwood, Softwood, and Manual), By Variety Type (Forest chips, Wood residue chips, and Recycled chips); By Application (Household Furnishing, Combined Heat and Power (CHP))and Region - Industry Forecast of 2021 to 2026

Pulished: September, 2021
ID: 12180
Pages: 180

Wood Chips Market Value & Growth Rate:

The Global Wood Chips Market size was valued at US$ XX billion in 2021 and is anticipated to reach US$ XX billion by 2026 and increase at a CAGR of XX% between 2021 and 2026. 

Wood Chips Market Scenario:

The wood chips market has been developing faster with considerable growth rates over the last few years, and it is anticipated to increase significantly during the forecast period, i.e., 2021-2026. The global wood chips market is anticipated to be the most developed market during 2021-2026. Because of the increasing utilization for renewable energy resources. In addition, the escalating demand for thermal energy generation using renewable and green feedstock materials is expected to help the sector. During the forecast period, the enhanced energy coefficient of wood chips is predicted to keep demand strong. Woodchips are little pieces of wood. Primarily used elements to create wood chips include branches, stumps, roots, and trees, as well as logs and wood debris. To repair the environment, woodchips are often used in gardens, orchards, degrading bioreactors, and organic mulch. Wood chips are small-to-medium-sized wood bits formed by cutting and chipping large chunks into small-to-medium-sized pieces, such as trees, logging debris, branches, roots, stumps, and wood waste. Moreover, depending on the type of wood chip processing, each chipper has a specific purpose. Tree branches, treetops, and unsaleable items come under reclaimed resources used to make wood chips.

Wood Chips Market Drivers:

The increasing availability of wood chips as a source of energy and heating in the residential sector worldwide is a primary driver for the wood chips industry. In addition, the wood chips market is being driven by rising demand for wood chips as a composting material and increased use of woodchips as a solid biomass fuel and raw material for manufacturing wood pulp in pulp mills. Furthermore, nanocrystalline cellulose (NCC), made from wood pulp, in next-generation flexible electronic displays as the newest wonder material in several electronic sectors, is also a potential prospect for the wood chips market. The need for wood chips has increased dramatically due to increased demand from the pulp industry, which utilizes wood chips as a raw material in creating pulp. Furthermore, due to the depletion of conventional energy sources, the wood chips market is being boosted by factors including renewable energy sources such as biomass. Wood pellets, which have become popular as a substitute for these chips, pose a severe threat to the industry. Wood chips are a biomass solid fuel that can also make wood pulp raw material. In addition, these are also utilized in various segments namely landscaping, gardening, ecosystem restoration, and many others. Moreover, wood chips are primarily manufactured from the waste wood, residual wood and pulpwood from the agricultural sector. Woodchips can also be created from forestry waste such as crowns, limbs, unsaleable components, and stunted trees. Although wood chips have some benefits, their widespread usage could jeopardize the stability and long-term growth of the forests from which they are harvested. Furthermore, during the projection period, high pellet penetration in power production in the residential and commercial sectors could impede the market growth.

Furthermore, the market is predicted to grow as sustainable production practices for wood growing and processing become more common. In addition, the presence of tight regulatory regimes in countries is expected to increase the demand for wood chips. Furthermore, consumer awareness of the products' use in home heating solutions is projected to drive the market forward. Softwood and hardwood variants of wood chips are commonly encountered, depending on the product. Increasing demand for the product as garden mulch and other applications such as playground surfacing is projected to fuel the market during the forecast period. In addition, the high carbon content of hardwood-based goods is predicted to stimulate demand during the projection period.

Wood Chips Market Restraints:

The growing use of wood pellets for electricity generation in the residential and commercial sectors limits the market's growth. During the forecast period, the wood chips market is anticipated to be hampered by the requirement for sustainability-related certifications and restrictions imposed on GHG emissions from wood chips when used for energy generation.

Recent Developments in the Global Wood Chips Market:

  • Many MDF producers prefer Cogent Fibre's pine softwood and mixed hardwood chips because of their high quality and consistent supply. Cogent Fibre's consistency and professionalism have earned the trust of companies like Georgia Pacific, Mead Westvaco, and Rayonier.

  • On 24th July 2017, Enviva, the world's largest wood pellet manufacturer, revealed its most recent proprietary Track & Trace forestry data, demonstrating its continued commitment to a sustainable and transparent supply chain. These figures are another essential instrument for assessing and proving Enviva's commitment to sustainability in the Southeast. 

Wood Chips Market Segmentation:

By Product Type:

  • Hardwood

  • Softwood

  • Manual 

Based on product type, Due to increased demand for softwood products for gardening mulch and playgrounds surfacing worldwide, the softwood sector is expected to dominate the global wood chips market.

By Variety Type

  • Forest chips

  • Wood residue chips

  • Recycled chips

Due to the rising usage of forest chips in the residential sector due to their high carbon content worldwide, the segment is expected to lead the global market based on various varieties.

By Application

  • Household Furnishing

  • Combined Heat and Power (CHP)

Based on application, the combined heat and power market is anticipated to have the most significant global wood chips market share during the forecast period due to the increasing usage of the product as fuel, primarily in combined heat and power applications. Combined Heat and Power is defined as an energy-efficient system that is utilized for generating electricity. It absorbs waste heat to produce useable thermal energy—such as steam or hot water—for space heating, cooling, home hot water, and industrial activities.

Wood Chips Market Regional Analysis: 

The Global Wood Chips Market Report includes the segmentation of Regions:

  • Asia-Pacific plays a dominant role in the wood chips market, owing to the rising use of wood chips in the residential sector in emerging economies. Another element boosting market expansion in this area is the emergence of enhanced technology in businesses.

  • Europe is anticipated to have significant global wood chips market growth because wood chips have been utilized for heat and generating power in small-scale in European regions.

  • North America is estimated to increase at a CAGR during the forecast period. It is because of the increasing preference for wood chips in U.S and Canada.

  • The Middle East and Africa wood chips market is expected to increase in the following years. Furthermore, this region's global wood chips market is expected to grow as the importance of sustainable production procedures for wood planting and processing produces.

  • Latin America

Impact of COVID-19 on Wood Chips Market:

Many wood chip industries have had to suspend operations due to the COVID-19 (coronavirus) epidemic to preserve social distance. The activities for the wood chips market were affected as a result of this. In addition, the power sector is one of the industries that has been impacted by the statewide lockdown that has been declared in several countries. Due to supply chain disruptions with solar and wind projects, a lack of staff, and challenges with project funding, lockouts have caused delays in power projects. On the other hand, restriction in trade fairs and cross-border trading is predicted to stifle growth in the forecast year.

Wood Chips Market Key Players:

The companies covered in the report include:

  1. Cogent Fibre

  2. Enviva Pellets

  3. St. Boniface Pallet

  4. American Wood Resources

  5. EVOWORLD GmbH

  6. Mitsui & Co., Ltd.

  7. Oji Holdings

  8. Rentech

  9. Axpo Group

  10. Great Northern Timber.

 

 

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                 

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                           

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling     

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                        

                                4.1.1 Drivers      

                                4.1.2 Restaints 

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis         

                                5.1.2 Products/Service 

                                5.1.3 Regional Presence

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Wood Chips Market , By Product Type                            

                                6.1.1 Hardwood

                                6.1.2 Softwood

                                6.1.3 Manual     

                                6.1.4 Market Size Estimations & Forecasts (2021-2026)   

                                6.1.5 Y-o-Y Growth Rate Analysis              

                                6.1.6 Market Attractiveness Index           

                6.2 Wood Chips Market , By Variety Type                             

                                6.2.1 Forest chips            

                                6.2.2 Wood residue chips            

                                6.2.3 Recycled chips       

                                6.2.4 Market Size Estimations & Forecasts (2021-2026)   

                                6.2.5 Y-o-Y Growth Rate Analysis              

                                6.2.6 Market Attractiveness Index           

                6.3 Wood Chips Market , By Application                

                                6.3.1 Household Furnishing        

                                6.3.2 Combined Heat and Power (CHP)  

                                6.3.3 Market Size Estimations & Forecasts (2021-2026)   

                                6.3.4 Y-o-Y Growth Rate Analysis              

                                6.3.5 Market Attractiveness Index           

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                    

                7.2 North America - Market Analysis (2021 - 2026)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Product Type   

                                7.2.3 By Variety Type     

                                7.2.4 By Application       

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Product Type   

                                7.3.3 By Variety Type     

                                7.3.4 By Application       

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Product Type   

                                7.4.3 By Variety Type     

                                7.4.4 By Application       

                7.5 Latin America                            

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Product Type   

                                7.5.3 By Variety Type     

                                7.5.4 By Application       

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Product Type   

                                7.6.3 By Variety Type     

                                7.6.4 By Application       

8. Key Player Analysis                                    

                8.1 Cogent Fibre                              

                                8.1.1 Business Description           

                                8.1.2 Products/Service 

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis      

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Enviva Pellets                            

                8.3 St. Boniface Pallet                    

                8.4 American Wood Resources                 

                8.5 EVOWORLD GmbH                  

                8.6 Mitsui & Co., Ltd.                     

                8.7 Oji Holdings                

                8.8 Rentech                       

                8.9 Axpo Group               

                8.10 Great Northern Timber                       

9. Market Outlook & Investment Opportunities                                 

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. Global Wood Chips Market By Region, From 2021-2026 ( USD Billion )

  2. Global Wood Chips Market By Product Type , From 2021-2026 ( USD Billion )

  3. Global Hardwood Market By Region, From 2021-2026 ( USD Billion )

  4. Global Softwood Market By Region, From 2021-2026 ( USD Billion )

  5. Global Manual Market By Region, From 2021-2026 ( USD Billion )

  6. Global Wood Chips Market By Variety Type , From 2021-2026 ( USD Billion )

  7. Global Forest chips Market By Region, From 2021-2026 ( USD Billion )

  8. Global Wood residue chips Market By Region, From 2021-2026 ( USD Billion )

  9. Global Recycled chips Market By Region, From 2021-2026 ( USD Billion )

  10. Global Wood Chips Market By Application, From 2021-2026 ( USD Billion )

  11. Global Household Furnishing Market By Region, From 2021-2026 ( USD Billion )

  12. Global Combined Heat and Power (CHP) Market By Region, From 2021-2026 ( USD Billion )

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