Western Europe has long been the world’s largest market for wood pellets used in heat and power production. But Asian industrial demand, driven by Japan and South Korea, is set to average 18 percent annual growth for the next decade. This geographic shift in demand growth will reshape the flow of exports from top producers Canada and the United States (US). All biomass pellet markets have grown steadily for the past five years, but Asia will sustain rapid expansion as Europe’s industrial consumption plateaus. Government policies in Japan and South Korea will keep driving ...
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