Wood Pellet Market Trend: Taiwan may become a new market

Mar. 13, 2024

Wood pellet exports have traditionally been dominated by markets in Europe, Japan, and South Korea. However, there is a new player emerging on the scene - Taiwan. In 2022, Taiwan relied heavily on fossil fuels, primarily natural gas and coal, to generate almost 80% of its electricity. The country heavily depends on imports for nearly all of its energy needs, with approximately 98% sourced from external suppliers, according to Taipower, the leading independent power producer in the region.

A recent report by U.S. FAS Gain has disclosed that Taiwan plans to increase its use of renewable energy to 20% by 2025. The key factor in achieving Taiwan's renewable energy goals is the development of green energy resources, with wood pellets emerging as a promising option. Due to limited local forest resources, Taiwan is likely to rely heavily on imported wood pellets to meet its green energy targets. This commitment to sustainable bioenergy production is projected to create a lucrative 300 million USD wood pellet trade opportunity.

Taiwan’s swift movement towards a more sustainable and environmentally friendly energy sector presents a significant market potential for wood pellets comparable to South Korea or Japan. 

Seeing this, are you more confident in the wood pellet market? Whether you are newer to the wood pellet plant project or planning to expand your wood pellets output. Taiwan is undoubtedly an emerging market that needs to be actively explored, and we hope that wood pellet manufacturers can seize this opportunity. As a wood pellet production line manufacturer with more than 10 years of experience, we can help you set up your own wood pellet plant and produce high-quality pellets, whatever your raw material, capacity requirement, factory area, budget etc.

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