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Biomass Solid Fuel Market to Experience Substantial Growth as Global Energy Crisis Widens

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Published on : Dec 10, 2020

A recent market research report added in the vast research report repository of ResearchMoz that talks about the global biomass solid fuels (BSF) market and its overall working dynamics. This report of the biomass solid fuel (BSF) market offers comprehensive analysis, market shares, key trends, opportunities, and driving and restraining factors that are influencing the growth of the market. Along with in-detail market segmentation, the research report offers key insights and information that are imperative for devising decisive marketing strategies.

A Viable Alternative for Global Energy Crisis

Biomass is the term used to describe all the organic matter, produced by photosynthesis that exists on the earth’s surface. The source of all energy in biomass is the sun, the biomass acting as a kind of energy store. To make use of biomass for our own energy needs we can simply burn it in an open fire to provide heat for cooking, warming water or warming the air in our home.

More sophisticated technologies have been developed for extracting this energy and converting it into useful power and heat in more efficient and convenient ways. Until relatively recently it was the only form of energy which was used by humans and is still the main source of energy for more than half the world’s population for their domestic energy needs. 

The extraction of energy from biomass is split into 3 distinct categories. The first one is solid biomass - the use of trees, crop residues, animal and human waste (although not strictly a solid biomass source, it is often included in this category), household or industrial residues for direct combustion to provide heat. Often the solid biomass will undergo physical processing such as cutting, chipping, briquetting, etc. but retains its solid form.

The second category is biogas that is obtained by anaerobically (in an air free environment) digesting organic material to produce a combustible gas known as methane. Animal waste and municipal waste are two common feed stocks for anaerobic digestion. And the third category is liquid Biofuels – these are obtained by subjecting organic materials to one of various chemical or physical processes to produce a usable, combustible, liquid fuel. 

Biomass solid fuels such as vegetable oils or ethanol are often processed from industrial or commercial residues such as bagasse (sugarcane residue remaining after the sugar is extracted) or from energy crops grown specifically for this purpose. Biofuels are often used in place of petroleum derived liquid fuels. 

The global market for biomass solid fuel (BSF) has been experiencing a tremendous demand in recent years. The market is projected to grow at a great pace over the course of the given period of forecast. With the growing energy crisis across the globe, biomass solid fuel can thus be seen as a viable alternative. Moreover, due to its nature, it is also environment friendly. Such factors will thus work in favor of the overall development of the global biomass solid fuel market. 

Asia Pacific to Present Lucrative Growth Opportunities

In terms of regional segmentation, the global biomass solid fuel (BSF) market is segmented into five key regions. These regional segments are North America, Latin America, Middle East and Africa, Europe, and Asia Pacific. Of these, the regional segment of Asia Pacific is projected to witness a highly promising rate of growth in coming years of the forecast period. With increasing energy demands from emerging countries such as China, Taiwan, India, and Indonesia, the region is expected to present lucrative growth opportunities. 

Get Sample PDF (including COVID19 Impact Analysis, full TOC, Tables and Figures) of Market Report @ https://www.researchmoz.us/enquiry.php?type=S&repid=2608085

The competitive landscape of the global biomass solid fuel (BSF) market is a fragmented one. There are several important players operating in the market trying to reach to the top spot. Some of the key companies in the global market are Poet, ADM, Green Plains, Pacific Ethanol, Valero, BP, Big River, China Agri-Industries, COFCO Biochemical, and Cargill Inc. among others.