The global lignocellulosic biomass market size is estimated to be worth USD 4,273.9 million in 2024 and is projected to reach a value of USD 9,057.5 million by 2034, exhibiting a CAGR of 7.8% from 2024 to 2034.
Attributes | Details |
---|---|
Estimated Global Lignocellulosic Biomass Market Size (2024E) | USD 4,273.9 million |
Projected Lignocellulosic Biomass Market Size (2034F) | USD 9,057.5 million |
Value-based CAGR (2024 to 2034) | 7.8% |
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Due to the growing interest in sustainable and renewable alternatives to traditional fossil fuels, lignocellulosic biomass is gaining popularity. Biomass utilization is generally considered carbon-neutral as the carbon dioxide emitted during its combustion is almost equal to the amount of carbon dioxide absorbed by the plants during their growth.
This contributes to reducing net greenhouse gas emissions compared to burning fossil fuels, further boosting lignocellulosic biomass market demand.
The demand for biofuels, including cellulosic ethanol and advanced biofuels, is increasing due to concerns about climate change, energy security, and the desire to decrease reliance on conventional gasoline and diesel. Lignocellulosic biomass, with its high cellulose content, is a key feedstock for biofuel production, which further contributes to its higher demand and boosts the global market.
Lignocellulosic biomass is used in a wide range of applications, including bioenergy, biofuels, biochemicals, bioplastics, construction materials, and more. Its versatility makes it suitable for various industries, which is contributing to its widespread adoption.
Companies operating in this market are adopting various strategies to boost the adoption of renewable energy sources.
For instance,
Ongoing advancements in biotechnology, biochemical engineering, and process optimization have improved the efficiency and cost-effectiveness of lignocellulosic biomass conversion technologies. These advances have made biomass-based processes more competitive and commercially viable.
Attributes | Details |
---|---|
Lignocelluslosic Biomass Market CAGR (2019 to 2023) | 5.2% |
The global lignocellulosic biomass market expanded at a CAGR of 5.2% from 2019 to 2023. For the next ten years, the demand for lignocellulosic biomass is forecasted to progress at 7.8% CAGR.
Cellulosic biomass resources are more cost-effective than traditional raw materials used in the materials and composites industry. Its abundant availability, especially agricultural residues and waste materials, significantly reduces production costs for various sectors, increasing the demand for lignocellulosic biomass.
Governments and regulatory bodies in several countries are implementing regulations and providing incentives to promote renewable and sustainable materials. This has increased interest in lignocellulosic biomass as an alternative feedstock, driving its higher demand in the materials and composites industry.
Lignocellulosic materials have exceptional absorbent properties, providing a dry and comfortable environment for animals in their bedding. This is important for maintaining animal health and preventing issues related to damp conditions. Materials made from lignocellulose also help control odors in animal bedding.
This is crucial in confined animal housing, where proper ventilation is a challenge. This is another key factor driving growth in the global lignocellulosic biomass industry.
Advances in processing technologies have made it easier to handle and prepare lignocellulosic materials for animal bedding and feed. For instance, processes such as pelletization or chipping enhance the convenience and effectiveness of using these materials in the agricultural sector.
The growing interest in sustainable and bio-based chemicals is creating lucrative growth opportunities for lignocellulose biomass manufacturers. This biomass can be converted into various biochemicals, bioplastics, and other bioproducts and meet the needs of industries looking for eco-friendly alternatives.
For instance,
Segment | Wood (Source) |
---|---|
Value Share (2024) | 35.7% |
Based on source, the wood segment captured 35.7% of market shares in 2024. The wood source segment is projected to reach a valuation of USD 2,563 million by 2034.
Segment | Bioenergy Production (Application) |
---|---|
Value Share (2024) | 14.7% |
Based on application, the bioenergy production segment garnered 14.7% of market shares in 2024. The segment is estimated to hit a valuation of USD 1,485.4 million in 2034.
Countries | Forecast CAGR (2024 to 2034) |
---|---|
United States | 5.0% |
Brazil | 4.5% |
China | 6.5% |
Canada | 4.0% |
Germany | 3.5% |
The demand for lignocellulosic biomass in the United States is projected to rise at a 5.0% CAGR through 2034.
The sales of lignocellulosic biomass in Brazil are estimated to surge at a 4.5% CAGR through 2034.
The lignocellulosic biomass market growth in China is estimated at a 6.5% CAGR through 2034.
The demand for lignocellulosic biomass in China is anticipated to increase at a 4.0% CAGR through 2034.
The sales of lignocellulosic biomass in Australia are estimated to rise at a 3.5% CAGR through 2034.
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The lignocellulosic biomass market is highly competitive, with leading competitors striving for market share and domination. Established corporations, such as energy giants and biofuel manufacturers, are fiercely competing to benefit on the increased demand for renewable energy sources.
These sector giants use their strong financial positions, broad distribution networks, and technical skill to maintain a competitive edge and grow their presence in critical regions. Furthermore, the industry is seeing the rise of creative startups and specialized businesses focusing in advanced bioenergy technologies, troubling traditional corporate structures and challenging incumbents.
Most lignocellulosic biomass manufacturers use strategies such as mergers & acquisitions, partnerships, distribution agreements, collaborations, and advertisements to gain a competitive edge in the market.
Recent Developments
Attribute | Details |
---|---|
Market Size Value in 2024 | USD 4,273.9 million |
Market Forecast Value in 2034 | USD 9,057.5 million |
Anticipated Growth Rate (2024 to 2034) | 7.8% CAGR |
Forecast Period | 2024 to 2034 |
Historical Data Available for | 2019 to 2023 |
Market Analysis | Volume (MT) and Value (USD million) |
Key Regions Covered | Latin America; North America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa |
Key Countries Covered | Canada, United States, Mexico, Brazil, Chile, Peru, Argentina, Germany, France, Italy, Spain, United Kingdom, Netherlands, Belgium, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, and others |
Key Market Segments Covered | Source, Application, and Region |
The lignocellulosic biomass market is valued at USD 4,273.9 million in 2024.
The global lignocellulosic biomass market value is projected to reach USD 9,057.5 million by 2034.
The lignocellulosic biomass market is expected to thrive at a CAGR of 7.8% through 2034.
North America is expected to have a leading market share of 20.8% by the end of 2034.
The global lignocellulosic biomass market registered a CAGR of 5.2% from 2019 to 2023.
1. Executive Summary 2. Market Overview 3. Market Dynamics 4. Value Chain Analysis 5. Global - Pricing Analysis 6. Global Size (in Value (USD million) and Volume (MT)) Analysis 2019 to 2023 and Forecast, 2024 to 2034 7. Global Analysis 2019 to 2023 and Forecast 2024 to 2034, By Source 7.1. Wood 7.2. Crop Residues 7.3. Grass 7.4. Agricultural Residues 8. Global Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 8.1. Bioenergy Production 8.2. Bioproducts 8.3. Materials and Composites 8.3.1. Construction Materials 8.3.2. Bio-based Composites 8.4. Animal Feed and Bedding 8.5. Soil Amendment and Erosion Control 8.6. Biomass Power Generation 9. Global Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. East Asia 9.5. South Asia 9.6. Oceania 9.7. Middle East & Africa 10. North America Analysis 2019 to 2023 and Forecast 2024 to 2034 11. Latin America Analysis 2019 to 2023 and Forecast 2024 to 2034 12. Europe Analysis 2019 to 2023 and Forecast 2024 to 2034 13. East Asia Analysis 2019 to 2023 and Forecast 2024 to 2034 14. South Asia Analysis 2019 to 2023 and Forecast 2024 to 2034 15. Oceania Analysis 2019 to 2023 and Forecast 2024 to 2034 16. MEA (Middle East & Africa) Analysis 2019 to 2023 and Forecast 2024 to 2034 17. Country-level Analysis, 2024 18. Market Structure Analysis 19. Competition Analysis 19.1. Ecovia Renewables 19.2. Versalis 19.3. ETIP Bioenergy 19.4. The Dow Chemical Company 19.5. Nippon Paper Group 19.6. Fortum 19.7. Circa 19.8. LyondellBasell 19.9. Novozymes 19.10. Fulcrum Bioenergy 19.11. Other Players (On Additional Requests) 20. Assumptions and Acronyms Used 21. Research Methodology
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