Wood Pellets Market Projected to Reach USD 20.5 Billion by 2032 | Rising Demand for Renewable Energy Drives Market Growth [Yahoo! Finance]
STORA ENSO OYJ ADR R SH (SEOAY)
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Source: Yahoo! Finance
Austin, Dec. 20, 2024 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that, “ The Wood Pellets Market is projected to reach a valuation of USD 20.5 billion by 2032, growing at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2032. ” Key Trends Fueling the Wood Pellets Market Wood pellets demand is rising due to its carbon-neutral characteristics and high energy contents, wood pellets have been more frequently applied in power generation and heating. They are one of the most important components of biomass energy plants, which are essential for efforts to reduce fossil fuel dependency and carbon reduction targets. Cost-effective, easy to handle, and environmentally friendly, it is not surprising that wood pellets are favored over traditional fuels for residential heating. The increasing interest in sustainable alternative fuels in the industrial sector is driving demand for wood pellets, in addition to heating. Renewables and energy transition play a major role in
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