Industrial
Biomass Boiler Market: Key Benefits for End-Users
The growing global focus on sustainability and combating
climate change has fueled the adoption of renewable energy sources. Biomass, a
readily available and renewable energy option, is increasingly being used for
generating heat and power. This shift is part of a broader trend toward
environmentally sustainable energy solutions.
The global industrial biomass boiler market is set
to rise at a 10.12% CAGR from 2024 to 2032,
as per Inkwood Research. This growth aligns with a surge in global industrial
energy consumption, which the World Bank estimates will rise by 40% between 2018 and 2050.
According to the International Energy Agency (IEA), renewable
energy led the global energy transition in 2023, accounting for
nearly 50% of global renewable capacity additions, making it
the fastest-growing energy source. Industrial biomass boilers, which convert
organic materials into energy, are gaining traction as industries look for
sustainable alternatives to traditional fossil fuels.
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Governments worldwide are implementing policies and
incentives to promote renewable energy usage, including subsidies and tax
breaks for biomass projects. These initiatives further drive the demand for
industrial biomass boilers, supporting the global transition to cleaner and
more sustainable energy solutions.
How Does Biomass Benefit Major End-Users?
Paper and Pulp Industry
The International Energy Agency (IEA) states that the
paper and pulp industry is highly energy-intensive and accounts for more
than 5% of global industrial power consumption. The agency
also stated that globally, more than 40% of the industry’s
heating needs were met using bioenergy with solid biomass, thus accounting for
the highest share.
In fact, in 2023, solid, gaseous, and liquid biomass resources made up half of all renewable energy
consumption in the EU. The demand for solid biomass is largely due to the
industry’s need for better efficiency and reduced carbon dioxide emissions. One
of the prime reasons for using biomass in the paper and pulp industry for
generating heat and power is easy access to biomass feedstock.
Plant owners are also replacing older equipment with more
efficient boilers, aiding market growth. According to provincial policies of
China, the boilers in paper and pulp mills are expected to be completely
rebuilt or eliminated during the 14th ‘Five Year Plan’ period, 2021-2025.
Further, key areas of interest for the plan include the
decarbonization of energy-intensive industrial sectors like cement, buildings,
power, meat production, steel, and transport, and the expansion of carbon and
forest cover markets.
Biorefineries
The functions of a biorefinery are similar to the petroleum
industry, wherein multiple products, such as value-added chemicals, biofuel & biodiesel, and biomass
power, are produced in the same plant from a single biomass source.
According to a report by the European Biomass Association, using
biomass for heat and power generation can result in an 80-90% reduction
in greenhouse gas emissions compared to fossil fuel-based heating and power
generation.
Further, in February 2023, PBF Energy
Inc and Eni Sustainable Mobility announced
their plans to enter into a joint venture, St. Bernard Renewables LLC
(SBR), where each of them contributes $835 million and
up to an additional $50 million to individual projects
while also providing expertise in biorefining operations and supply.
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Industrial Biomass Boiler Market
Key Product Developments by Global Players
- In 2021,
Corigin Solutions, an agricultural processing plant in California,
installed a biomass boiler to generate heat and power from almond shells,
which would otherwise be waste material. The installation has reduced the
plant’s reliance on fossil fuels and reduced carbon emissions by
over 90%. The plant estimates that the biomass boiler will
save around $1 million in energy costs over the next
decade.
- In 2022,
a manufacturing plant in Ohio, Hurst Boiler, installed
a biomass boiler to replace its traditional fossil fuel boiler. The new
boiler generates heat and power by burning waste wood chips generated by
the manufacturing process. The installation reduced the plant’s carbon
emissions by over 80%, and the cost savings from using biomass
fuel are estimated to be around $400,000 annually.
- In 2023, Adven Latvia inaugurated a new
woodchip boiler house on Berzaines Street 31 in Cēsis, significantly
reducing reliance on natural gas. This facility enhances energy efficiency
and supports the region’s transition to renewable energy sources.
- Biovéa Énergie SA is developing
a 46 MW biomass-fired thermal power plant in Ayebo, Ivory
Coast. The facility will utilize palm oil waste sourced from local farmers
to generate electricity, contributing to sustainable energy production and
reducing carbon emissions. The project is expected to be commissioned
in 2024.
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Conclusion
Industrial biomass boilers are a sustainable and
cost-effective option for many facilities. The benefits of reduced carbon
emissions and renewable energy sources make them an attractive option for the
end-users. Furthermore, biomass-based electricity is often cost-competitive
than fossil fuel-based electricity in many regions of the world, resulting in
cost savings for end-users.
As more facilities adopt sustainable practices and explore
ways to reduce their carbon footprint, the product is anticipated to become a
lucrative option for heat and power generation, boosting the
global industrial biomass boiler market during the forecast period.
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