Global Wood Chips Market Outlook 2019-2028

Global Wood Chips Market Analysis 2019-2028

The global wood chips market is anticipated to grow with a CAGR of 5.1% over the forecast period, i.e., 2021 - 2028. Factors such as the growing demand for energy worldwide, along with the increasing need for different energy sources, such as wood chips, are anticipated to drive the market growth. Moreover, factors such as the growing use of wood chips in industries for the production of energy, along with the rising demand for wood pulp in the paper industry are also expected to boost the market growth. The global wood chips market is estimated to garner a revenue of about USD 15000 Million by the end of 2028, up from a revenue of USD close to 11990 Million in the year 2019.

The global wood chips market is segmented by numerous segments, which include segmentation by forest type, raw material, product type, variety, application, end-use industry, and by region. By forest type, the market is segmented into temperate forest, tropical forest, and boreal forest, out of which, the temperate forest segment is anticipated to garner the largest revenue of near to USD 6000 Million by the end of 2028. Moreover, in the year 2019, the segment generated a revenue of more than USD 4400 Million.

On the basis of regional analysis, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Out of these, the market in the Asia Pacific region is anticipated to garner the largest revenue of about USD 5490 Million by the end of 2028. Moreover, in the year 2019, the market in the region generated a revenue of close to USD 4000 Million.

Some of the prominent industry leaders in the global wood chips market that are included in our report are American Wood Resources, LLC, Cogent Forest Products Inc., Wood Chips Supply Ltd., Swiss Timber International, New Forests, Midway Limited, Mitsui & Co., Ltd., Marubeni Corporation, and others.