The global lignocellulosic biomass market is valued at US$ 4,273.9 million in 2024 and is anticipated to reach US$ 9,057.5 million by 2034. As per the estimates, the lignocellulosic biomass market size is likely to expand at a CAGR of 7.8%.
As the bioeconomy expands and transforms industries, lignocellulosic biomass becomes increasingly important for the sustainable use of resources. The economic potential of this change is advantageous to businesses that strategically incorporate commodities made from biomass into their operations. This trend positions businesses as environmentally conscious and adaptable to changing market demands, which fosters long-term growth and resilience in a world with finite resources. It also aligns with the objectives of global sustainability.
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Continuous developments in bioenergy technologies, such as new biochemical and thermochemical processes, are necessary to optimise the economic viability of lignocellulosic biomass use. Improvements in pretreatment methods, efficient enzymatic hydrolysis, and fermentation processes are increasing production yields, lowering costs, and boosting industry players’ profits. Companies who commit resources to R&D to incorporate and use these cutting-edge technologies have a competitive edge, enabling them to produce biofuels and bioproducts with higher efficiency and lower environmental impact.
The transition to decentralized biomass processing represents a calculated risk for businesses looking to maximize profits and maintain operational flexibility. Localized energy production can be achieved by establishing modular processing units and smaller-scale biorefineries, which also optimize resource usage and lower transportation costs. This trend gives businesses a competitive edge in a fast-paced business climate by strengthening supply chains’ resilience, encouraging flexibility to regional differences in biomass availability, and positioning them as nimble competitors in the changing bioenergy industry.
Key Takeaways from the Lignocellulosic Biomass Report:
- The global market size expanded at a 5.2% CAGR from 2019 to 2023.
- North America is projected to hold a dominant value share of 20.8% in the global market by 2034.
- The wood source segment garnered 35.7% of market shares in 2024.
- The bioenergy product segment captured 14.7% of market shares in 2024.
- The market size in the United States is projected to increase at a 5.0% CAGR through 2034.
- The market size in Brazil is anticipated to develop at a 4.5% CAGR through 2034.
- The market size in Canada is estimated to surge at a 4.0% CAGR through 2034.
- The market size in China is expected to thrive at a 6.5% CAGR through 2034.
“The lignocellulosic biomass market is poised for growth, driven by increasing demand for sustainable bioenergy and bio-based products. Technological advancements and global interest signal a promising trajectory.” – Nandini Roy Choudhury, Client Partner at Future Market Insights
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Competitive Landscape:
The lignocellulosic biomass market is extremely competitive.
- Ecovia Renewables
- Versalis
- ETIP Bioenergy
- The Dow Chemical Company
- Nippon Paper Group
- Fortum
- Circa
- LyondellBasell
- Novozymes
- Fulcrum Bioenergy
are among the key lignocellulosic biomass manufacturers listed in the report. These companies use strategies such as mergers & acquisitions, partnerships, distribution agreements, collaborations, and advertisements to gain a competitive edge in the market.
Lignocellulosic Biomass Market Segmentation:
By Source:
- Wood
- Crop Residues
- Grass
- Agricultural Residues
By Application:
- Bioenergy Production
- Bioproducts
- Materials and Composites
- Animal Feed and Bedding
- Soil Amendment and Erosion Control
- Biomass Power Generation
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Recent Developments:
- In September 2023, Versalis acquired Italy-based bioplastics manufacturer Novamont. Furthermore, the company announced its partnership with Technip Energies to convert plastic waste into purified pyrolysis oil.
- In February 2023, Estonian startup New Standard Oil successfully commissioned their first industrial-scale prototype for drying and torrefaction of biogenic feedstock with superheated steam at atmospheric pressure.
Get More Valuable Insights:
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global lignocellulosic biomass market, presenting historical demand data (2019 to 2024) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the Lignocellulosic Biomass market based on Source (Wood, Crop Residues, Grass, and Agricultural Residues), Application (Bioenergy Production, Bioproducts, Materials and Composites, Animal Feed and Bedding, Soil Amendment and Erosion Control, and Biomass Power Generation), across various regions.
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