목재 펠릿 : 시장 점유율 분석, 업계 동향 및 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the wood pellet market was valued at USD 17.25 billion in 2025 and expected to grow from USD 18.53 billion in 2026 to reach USD 26 billion by 2031, at a CAGR of 7.01% during the forecast period (2026-2031).

This report is Segmented by Feedstock (Forest/Wood Residue, Agricultural Residue, and Energy-Crop and Sawdust Mix), Grade (Utility-Grade, Premium-Grade, Standard-Grade, and Torrefied Black Pellets), Application (Heating, Power Generation, and Combined Heat and Power), End-User (Residential, Commercial, and More), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa).

Global Wood Pellet Market Trends and Insights

Japan-South Korea Biomass Co-Firing Mandates Accelerating Industrial Imports

Japanese utilities import nearly 3 million t of industrial pellets each year under the national feed-in tariff, and South Korean generators are obligated to source certified biomass through the renewable portfolio standard despite a 2024 subsidy haircut. Long-term, take-or-pay contracts signed with U.S. and Canadian suppliers lock in volumes to 2029, providing revenue certainty that underpins new mill investments along the Gulf and Atlantic coasts. Regional buyers are demanding flexible clauses that hedge freight and currency risk because the yen and won remain volatile against the U.S. dollar. Import volumes also hinge on the relative price of palm-kernel shells and ammonia, two competing alternatives under review by Asian utilities planning 2030 decarbonization pathways. If the co-firing mandates survive scheduled policy reviews in 2027, the wood pellet market could secure a durable Asian demand floor that buffers any cyclical softness in Europe.

EU REDIII Sustainability Criteria Fueling Demand for Certified Premium Pellets

The Renewable Energy Directive III embeds strict chain-of-custody obligations that de-risk biodiversity and land-use change, effectively bifurcating supply into certified and non-certified streams. Vertically integrated producers holding Sustainable Biomass Program and Forest Stewardship Council credentials now command 5%-10% price premiums, a margin uplift that offsets higher logistics and compliance costs. European utilities are inserting pass-through provisions that claw back penalties if suppliers fall out of compliance, reinforcing a two-tier procurement ecosystem. North American mills have responded by upgrading monitoring technology and expanding catchment-area audits to meet new transatlantic tender requirements. The higher bar for documentation is capital-intensive, but it also locks smaller, non-certified operators out of long-term contracts, consolidating volume among the top five players.

Subsidy Rollbacks in U.K./NL over Lifecycle-Emission Concerns

The United Kingdom scrapped direct biomass subsidies in April 2024, removing roughly GBP 500 million in annual support and triggering a 15% drop in pellet imports during H2 2024. Drax is negotiating a bridging contract-for-difference to keep its 3 million tons per year plant running until carbon-capture infrastructure is commissioned post-2027, but policy uncertainty has depressed investor sentiment and narrowed refinancing options. Dutch regulators are conducting a parallel review focused on near-term carbon intensity, and early drafts suggest stricter limits on forest-sourced pellets could take effect in 2027. Baltic producers that once relied on Benelux utilities now face volume risk, prompting them to court Korean and Japanese buyers instead. The subsidy changes fragment regional demand and complicate long-range capacity planning for the wood pellet market.

Other drivers and restraints analyzed in the detailed report include:

1. Corporate Net-Zero Contracts Boosting U.S. Export-Grade Production
2. District-Heating Build-Out in Nordics Propelling Pellet Boiler Adoption
3. Competition from Palm-Kernel-Shell Biomass in ASEAN Power Mix

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Forest and wood residue generated 57.2% of the 2025 volume, bolstered by expansive fiber baskets in the U.S. Southeast and British Columbia that supply low-grade roundwood and sawmill chips on multi-year contracts. Agricultural residues, notably wheat straw, rice husks, and corn stover, are forecast to post a 7.2% CAGR to 2031 as pelletizers in the U.S. Midwest, Eastern Europe, and India commercialize densification lines that handle higher silica content. The wood pellet market size for agricultural residues is expected to approach 12 million t by 2031, improving regional supply resilience.

In practice, straw-based pellets suffer from slagging at high furnace temperatures, prompting equipment makers to install refractory linings and automated soot-blowing systems that add capex but preserve boiler uptime in the wood pellet industry. Producers offset lower bulk density by co-locating mills near farm clusters, trimming inbound logistics. Forest residue retains an intrinsic advantage in energy density and ash chemistry, yet its growth ceiling is constrained by biodiversity safeguards and competing demand from pulp mills. A rising share of crop-waste pellets, therefore, diversifies risk and aligns with circular-economy narratives that resonate with corporate buyers seeking verifiable waste valorization claims.

Utility-grade white pellets held 56.7% of shipments in 2025 under long-term supply deals with European and Japanese generators. Premium residential pellets, certified to ENplus A1, captured a niche 18% slice, commanding a 10%-15% price uplift that shields margins during commodity cycles. The highest growth resides in torrefied black pellets, slated for a 9.0% CAGR through 2031, a forecast underpinned by Asian coal-fleet retrofits eager to raise biomass substitution ratios without new pulverizers. Torrefied throughput is expected to surpass 6 million t by 2031, equal to about 3% of the global wood pellet market size.

Market acceptance hinges on scaling pilot plants into 250,000-t commercial modules that spread fixed costs and mitigate the 20%-30% feedstock mass loss intrinsic to torrefaction. Premium-grade white pellets still anchor residential demand because strict ash thresholds avoid chimney fouling and meet urban emission caps. Standard-grade pellets service small industrial boilers and district-heating grids that balance cost and performance. Utility-grade dominance persists, yet policy-driven coal phase-outs in Europe could flatten growth unless torrefied solutions gain a wider footing.

Complete Report Scope:

• By Feedstock
  • Forest/Wood Residue
  • Agricultural Residue
  • Energy-Crop and Sawdust Mix
• By Grade
  • Utility-Grade (White)
  • Premium-Grade
  • Standard-Grade
  • Torrefied "Black" Pellets
• By Application
  • Heating
  • Power Generation
  • Combined Heat and Power (CHP)
• By End-user
  • Residential
  • Commercial
  • Industrial and Utility
  • Animal Bedding
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • NORDIC Countries
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • ASEAN Countries
    • Rest of Asia-Pacific
  • South America
    • Brazil
    • Argentina
    • Colombia
    • Rest of South America
  • Middle East and Africa
    • United Arab Emirates
    • Saudi Arabia
    • South Africa
    • Rest of Middle East and Africa

Geography Analysis

Europe controlled 72.4% of global demand in 2025, supported by legacy coal-to-biomass conversions in the U.K., Sweden's and Denmark's district-heating backbone, and Germany's subsidy-backed stove installations. Policy risk rose after the U.K. ended biomass subsidies in 2024 and Dutch regulators launched a lifecycle-emission review, but certified supply still enjoys compliance advantages under EU REDIII. The wood pellet market share for Europe is projected to slip modestly as imports plateau, yet its absolute volume remains the world's largest through 2031.

Asia-Pacific is the fastest riser, forecast to expand at a 14.3% CAGR, propelled by Japan's 20-year feed-in tariff for biomass co-firing and South Korea's renewable-portfolio auctions. Japan imported roughly 3 million t in 2024, while Korean utilities sought 1.8 million t despite subsidy cuts. Pilot projects in China's coastal coal fleet and India's ag-residue densification initiatives add long-tail upside if policy support matures. Competition from palm-kernel shells caps penetration in Indonesia and Malaysia, but torrefied products could alter the equation once commercial volumes scale.

North America acts chiefly as an export platform, operating 12 million t of annual capacity in 2024. Enviva's restructuring cast a spotlight on leverage risk, yet Canadian mills in British Columbia and Alberta continue to benefit from sawmill residuals and railway access to Prince Rupert and Vancouver ports. Mexican consumption is negligible today, though abundant corn stover offers latent supply potential pending supportive regulation. Domestic U.S. demand is limited outside niche CHP sites, but decarbonization credits in California and New York could birth regional offtake hubs later in the decade.

1. Enviva Inc.
2. Drax Group PLC
3. AS Graanul Invest
4. Lignetics Inc.
5. Segezha Group JSC
6. Fram Renewable Fuels LLC
7. Pinnacle Renewable Energy Inc.
8. Pacific BioEnergy Corp.
9. Viridis Energy Inc.
10. Georgia Biomass LLC
11. Rentech Inc.
12. German Pellets GmbH
13. Pannonia Bio Zrt.
14. PT South Pacific Viscose
15. Asia Biomass Public Co. Ltd.
16. Energex Inc.
17. Highland Pellets LLC
18. Pfeifer Group
19. Nova Pellet Srl

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions & Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Japan-South Korea Biomass Co-Firing Mandates Accelerating Industrial Pellet Imports
  • 4.2.2 EU REDIII Sustainability Criteria Fueling Demand for Certified Premium Pellets
  • 4.2.3 Corporate Net-Zero Contracts Boosting U.S. Export-Grade Production
  • 4.2.4 District-Heating Build-out in Nordics Propelling Pellet Boiler Adoption
  • 4.2.5 Volatile European Gas Prices Driving Residential Stove Conversions
  • 4.2.6 Emergence of Torrefied "Black Pellets" for Coal-Plant Retrofits
• 4.3 Market Restraints
  • 4.3.1 Subsidy Rollbacks in U.K./NL over Lifecycle-Emission Concerns
  • 4.3.2 Sustainable Feedstock Bottlenecks in U.S. Southeast
  • 4.3.3 Competition from Palm-Kernel-Shell Biomass in ASEAN Power Mix
  • 4.3.4 High-Interest-Rate Capex Burden for New Pellet Mills
• 4.4 Supply-Chain Analysis
• 4.5 Regulatory Outlook
• 4.6 Technological Outlook
• 4.7 Porter's Five Forces
  • 4.7.1 Bargaining Power of Suppliers
  • 4.7.2 Bargaining Power of Consumers
  • 4.7.3 Threat of New Entrants
  • 4.7.4 Threat of Substitutes
  • 4.7.5 Intensity of Competitive Rivalry

5 Market Size & Growth Forecasts

• 5.1 By Feedstock
  • 5.1.1 Forest/Wood Residue
  • 5.1.2 Agricultural Residue
  • 5.1.3 Energy-Crop and Sawdust Mix
• 5.2 By Grade
  • 5.2.1 Utility-Grade (White)
  • 5.2.2 Premium-Grade
  • 5.2.3 Standard-Grade
  • 5.2.4 Torrefied "Black" Pellets
• 5.3 By Application
  • 5.3.1 Heating
  • 5.3.2 Power Generation
  • 5.3.3 Combined Heat and Power (CHP)
• 5.4 By End-user
  • 5.4.1 Residential
  • 5.4.2 Commercial
  • 5.4.3 Industrial and Utility
  • 5.4.4 Animal Bedding
• 5.5 By Geography
  • 5.5.1 North America
    • 5.5.1.1 United States
    • 5.5.1.2 Canada
    • 5.5.1.3 Mexico
  • 5.5.2 Europe
    • 5.5.2.1 United Kingdom
    • 5.5.2.2 Germany
    • 5.5.2.3 France
    • 5.5.2.4 Italy
    • 5.5.2.5 Spain
    • 5.5.2.6 NORDIC Countries
    • 5.5.2.7 Russia
    • 5.5.2.8 Rest of Europe
  • 5.5.3 Asia-Pacific
    • 5.5.3.1 China
    • 5.5.3.2 India
    • 5.5.3.3 Japan
    • 5.5.3.4 South Korea
    • 5.5.3.5 ASEAN Countries
    • 5.5.3.6 Rest of Asia-Pacific
  • 5.5.4 South America
    • 5.5.4.1 Brazil
    • 5.5.4.2 Argentina
    • 5.5.4.3 Colombia
    • 5.5.4.4 Rest of South America
  • 5.5.5 Middle East and Africa
    • 5.5.5.1 United Arab Emirates
    • 5.5.5.2 Saudi Arabia
    • 5.5.5.3 South Africa
    • 5.5.5.4 Rest of Middle East and Africa

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves (M&A, Partnerships, PPAs)
• 6.3 Market Share Analysis (Market Rank/Share for key companies)
• 6.4 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Products & Services, and Recent Developments)
  • 6.4.1 Enviva Inc.
  • 6.4.2 Drax Group PLC
  • 6.4.3 AS Graanul Invest
  • 6.4.4 Lignetics Inc.
  • 6.4.5 Segezha Group JSC
  • 6.4.6 Fram Renewable Fuels LLC
  • 6.4.7 Pinnacle Renewable Energy Inc.
  • 6.4.8 Pacific BioEnergy Corp.
  • 6.4.9 Viridis Energy Inc.
  • 6.4.10 Georgia Biomass LLC
  • 6.4.11 Rentech Inc.
  • 6.4.12 German Pellets GmbH
  • 6.4.13 Pannonia Bio Zrt.
  • 6.4.14 PT South Pacific Viscose
  • 6.4.15 Asia Biomass Public Co. Ltd.
  • 6.4.16 Energex Inc.
  • 6.4.17 Highland Pellets LLC
  • 6.4.18 Pfeifer Group
  • 6.4.19 Nova Pellet Srl

7 Market Opportunities & Future Outlook

• 7.1 White-Space & Unmet-Need Assessment