Wood Recycling Market Size, Share And Development By 2029 | Growing Demand for Biomass Energy to Bolster Growth

 The global wood recycling market size is expected to witness substantial growth backed by increasing demand to produce biomass and adoption I wide applications such as construction, power, and building across the globe. Fortune Business Insights, publishes this information in its upcoming report.

Wood recycling is a vital process that involves recycling and reuse of all types of wood and wood material that are nearing their fag end of product lifespan and considered as waste. The waste wood is generally a precious resource that is available in abundance and can be used for either recycling or for energy production such as the generation of high-grade biomass fuel. Additionally, recycled wood is used for production of chipboards and other wood-based materials.

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What does the Report Include?

The market report includes a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period. The report includes information sourced from the advice of expert professionals from the industry by our research analyst using several research methodologies for the market. The competitive landscape offers further detailed insights into the strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2019 and 2026. 

DRIVING FACTORS

Growing Demand for Biomass Energy to Bolster Growth

According to the US Department of Energy, the United States has the potential to produce about 84 to 97 billion gallons of biofuels every year by 2030. Biomass is considered to be an efficient renewable source of energy that aids in reduction of several greenhouse gas emissions that negatively impact the environment. In near term, they can be adopted to manufacture liquid fuels such as jet, gasoline, and diesel. Additionally, they can be used to produce necessary chemicals for manufacturing industries and supply power to energy grids. Therefore, growing demand for biomass energy across the globe is anticipated to drive the global wood recycling market during the forecast period.

 

REGIONAL INSIGHTS

Asia-Pacific to Remain Dominant; Increasing Demand for Energy Generation to Augur Growth

Among all regions, the market in Asia-Pacific is expected to witness significant growth in the market during the forecast period. This is attributable to increasing demand of the product for energy generation owing to the presence of a large population and other applications such as animal and poultry bedding, and wood panel processing in the region. The huge demand from pulp industry in China will propel the region to hold the highest wood recycling market share during the forecast period. North America, on the other hand, will witness substantial growth in the market during the projected horizon. This is ascribable to factors such as increasing demand for plywood and wooden panels between 2019 and 2026.

COMPETITIVE LANDSCAPE

Merger and Acquisition by Major Companies to Propel Demand

In July 2020, the US-based Austin Wood Recycling announced its acquisition of Thelin Recycling Company, a waste management and secure shredding solutions provider. According to the company, the acquisition enables it to be the biggest mobile contract recycling and grinding service provider in the country. According to the report, adoption of strategies such as merger and acquisition, collaboration, partnership, and introduction of new product by the companies will contribute to the growth of the global wood recycling market during the forecast period.

List of the Companies Proliferating in the Market:

• Enva
• Carolina Fibre Corporation
• REMONDIS SE & Co. KG
• Global Waste Recyclers Ltd
• American Paper Recycling Corp.
• Hanna Paper Recycling
• Ricova
• InterWest Paper Inc.
• Hadfield Wood Recyclers
• Sappi ReFibre
• Landfill Reduction & Recycling
• Huron Paper Stock
• Evergreen Paper Recycling
• Northstar Recycling Company
• Trash King, Geldof P. nv
• Rainier Wood recyclers Inc.
• JB Wood Recyclers
• Rubicon Global Holdings LLC.
• A W Jenkinson Woodwaste Ltd
• Among others

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