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Northeast Asia is quickly emerging as a new engine of growth for the biomass and bioenergy industries. In countries like Japan, South Korea, and China, policy drivers are expected to provide new opportunities to the market, and this will lead to a rapid expansion in biomass-fired power and CHP generation over the next decade. This is expected to create a large new market – rivalling that of Europe – for global biomass suppliers. In addition, new developments aimed toward using more biomass for fuel are set to spice up the regional market growth. Biomass is a sustainable and low-carbon alternative to standard fossil fuels while allowing local groups to use domestically available biomass sources. It facilitates efficient utilisation of crop residues, the unused portions of urban waste, and wood manufacturing wastes.
The government organisations are focusing on utilising biomass for electricity production as a neighbourhood of energy security and energy efficiency strategy. Such initiatives aim to reinforce the share of unpolluted renewables within the overall energy mixture of national economies.
The growing focus of the global players on expanding their presence across the key developing markets is expected to significantly boost the industry growth over the forecast period. Some of the global leading renewable energy companies like Renewable Energy Group Inc. (NASDAQ: REGI) offers services for managing the construction of biomass-based diesel production facilities and the ongoing operations of third-party plants. Such developments are expected to have a positive influence on the market growth over the forecast period.
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The major players in the Asia Pacific biomass energy market are ACCIONA Group., Mitsui E&S Engineering Co., Ltd, Hitachi Zosen Corporation, Anaergia Inc., DP CleanTech, and Jyoti Bio Energy Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, technological advancements, and capacity expansions of the major players.
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