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Australia Wood Pellet Market Size, Share, Growth: By Feedstock Type: Forest and Wood Waste Resources, Agricultural Residue, Others; By Application: Combined Heat and Power (CHP), Commercial Heating, Power Plants, Residential Heating, Others; By End Use: Commercial, Others; Regional Analysis; Competitive Landscape; 2024-2032
Australia Wood Pellet Market Outlook
The Australia wood pellet market size was valued at USD 520.6 million in 2023. The market is further projected to grow at a CAGR of 4.9% between 2024 and 2032, reaching a value of USD 805.3 million by 2032.
Key Takeaways
- Australia is rejecting forest biomass as a source for wood pellets, leading to a shift in policy away from using native forests for energy production.
- Australian wood pellet exports hit a record high in the first half of 2020, with around 56,000 tonnes of pellets exported, a substantial increase from the previous year, driven by shipments to the UK and the Netherlands.
- Prominent wood pellet providers in the country are Pellet Heaters Australia, Pellet Experts Pty Ltd, Renewable Wood Pellets, and Wood Pellets Tasmania Pty Ltd.
The Australian government's Renewable Energy Target (RET) and initiatives promoting clean energy have spurred a rise in the adoption of wood pellets for heating purposes. This trend is driving Australia wood pellet market growth as consumers and businesses increasingly seek sustainable alternatives to fossil fuels. Additionally, technological advancements in wood pellet production, such as improved combustion technologies and manufacturing processes like torrefaction, are enhancing production efficiency and quality, further driving market expansion in Australia.
As per industry reports, wood pellets are being used in innovative ways, such as in combined heat and power (CHP) systems like the one installed by the University of the Sunshine Coast. This system generates electricity and heat simultaneously, showcasing the versatility and efficiency of wood pellets beyond traditional heating applications.
Moreover, strategic partnerships, such as the collaboration between Altus Renewables and Mitsui & Co. to export wood pellets to Japan, are shaping the Australia wood pellet market development. These partnerships facilitate market expansion, enhance distribution networks, and drive innovation within the industry.
Wood pellets are increasingly being used for commercial heating in establishments like eco-friendly hotels and restaurants. For instance, The Greenhouse by Joost in Melbourne uses wood pellets for heating, showcasing the environmental benefits and cost-effectiveness of wood pellet heating solutions in commercial settings. In addition, pellets are a key fuel source for biomass power plants like the one operated by Green Distillation Technologies in Warren, NSW.
These power plants use wood pellets to generate electricity, contributing to Australia's renewable energy targets and reducing reliance on fossil fuels. In residential settings, wood pellets are gaining popularity as a renewable heating option, with examples like households in Tasmania using wood pellet stoves for efficient and eco-friendly heating.
Market Segmentation
Australia Wood Pellet Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Feedstock Type
- Forest and Wood Waste Resources
- Agricultural Residue
- Others
Market Breakup by Application
- Combined Heat and Power (CHP)
- Commercial Heating
- Power Plants
- Residential Heating
- Others
Market Breakup by End Use
- Commercial
- Residential
- Industrial
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Australian Capital Territory
- Western Australia
- Others
Competitive Landscape
Market players are actively engaging in strategic initiatives like mergers, acquisitions, partnerships, and product launches to strengthen their market share and gain a competitive edge in the market.
- Pellet Heaters Australia
- Pellet Experts Pty Ltd
- EcoPellets Tasmania
- Renewable Wood Pellets
- Wood Pellets Tasmania Pty Ltd
- Vios Pellets Pty Ltd
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Feedstock Type |
|
| Breakup by Application |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Wood Pellet Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Wood Pellet Historical Market (2018-2023)
8.3 Asia Pacific Wood Pellet Market Forecast (2024-2032)
9 Australia Wood Pellet Market Overview
9.1 Key Industry Highlights
9.2 Australia Wood Pellet Historical Market (2018-2023)
9.3 Australia Wood Pellet Market Forecast (2024-2032)
10 Australia Wood Pellet Market by Feedstock Type
10.1 Forest and Wood Waste Resources
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Agricultural Residue
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Others
11 Australia Wood Pellet Market by Application
11.1 Combined Heat and Power (CHP)
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Commercial Heating
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Power Plants
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Residential Heating
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Others
12 Australia Wood Pellet Market by End Use
12.1 Commercial
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Residential
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Industrial
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 Australia Wood Pellet Market by Region
13.1 New South Wales
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Victoria
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Queensland
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Australian Capital Territory
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Western Australia
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis (HS Code – 440131)
15.1 Major Importing Countries
15.1.1 By Volume
15.1.2 By Value
15.2 Major Exporting Countries
15.2.1 By Volume
15.2.2 By Value
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Pellet Heaters Australia
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Pellet Experts Pty Ltd
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 EcoPellets Tasmania
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Renewable Wood Pellets
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Wood Pellets Tasmania Pty Ltd
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Vios Pellets Pty Ltd
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Wood Pellet Market: Key Industry Highlights, 2018 and 2032
2. Australia Wood Pellet Market: Key Industry Highlights, 2018 and 2032
3. Australia Wood Pellet Historical Market: Breakup by Feedstock Type (USD Million), 2018-2023
4. Australia Wood Pellet Market Forecast: Breakup by Feedstock Type (USD Million), 2024-2032
5. Australia Wood Pellet Historical Market: Breakup by Application (USD Million), 2018-2023
6. Australia Wood Pellet Market Forecast: Breakup by Application (USD Million), 2024-2032
7. Australia Wood Pellet Historical Market: Breakup by End Use (USD Million), 2018-2023
8. Australia Wood Pellet Market Forecast: Breakup by End Use (USD Million), 2024-2032
9. Australia Wood Pellet Historical Market: Breakup by Region (USD Million), 2018-2023
10. Australia Wood Pellet Market Forecast: Breakup by Region (USD Million), 2024-2032
11. Major Importing Countries by Volume
12. Major Exporting Countries by Volume
13. Major Importing Countries by Value
14. Major Exporting Countries by Value
15. Australia Wood Pellet Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 520.6 million.
The market is expected to grow at a CAGR of 4.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 805.3 million by 2032.
The market is being driven due to increasing global shift towards renewable energy sources, government initiatives promoting biomass utilisation, rising awareness of carbon emissions reduction, and the versatility of wood pellets in various applications.
Key trends aiding the market expansion include technological advancements in wood pellet production, diverse feedstock types available, and adoption of wood pellets for heating applications in commercial and residential sector.
Regions considered in the market are New South Wales, Victoria, Queensland, Western Australia, and Australian Capital Territory, among others.
Different applications of wood pellets are combined heat and power (CHP), commercial heating, power plants, and residential heating, among others.
Based on feedstock type, the market segmentations include forest and wood waste resources and agricultural residue, among others.
Key players in this market include Pellet Heaters Australia, Pellet Experts Pty Ltd, EcoPellets Tasmania, Renewable Wood Pellets, Wood Pellets Tasmania Pty Ltd, and Vios Pellets Pty Ltd, among others.
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