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Wood Pellet Market Report, Outlook 2023-2028

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According to the latest research report, the global wood pellet market size reached US$ 12.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.53% during 2023-2028.

Another contributing factor to the increasing demand for wood pellets is their energy efficiency. Wood pellets currently have a high energy content and burn more cleanly compared to traditional wood logs or coal. This is allowing for higher heat output with fewer resources, making them an efficient option for heating homes and powering industrial operations. The uniform size and moisture content of wood pellets are making them easier to manage, store, and transport, which adds to their appeal as an efficient energy source. As energy costs are currently continuing to rise, the efficient nature of wood pellets is making them an increasingly attractive option for consumers.

Explore full report with Table of Contents: https://www.imarcgroup.com/wood-pellet-market