Globally, China is the greatest producer of wood pellets. However, as most of it is consumed inland, it is not among the leading wood pellet exporting countries. Instead, the United States ranks first, having sold some 6.9 million metric tons abroad in 2019. Counting Russia, seven of the entries listed were European countries. Apart from South Korea and Japan, European countries are also the greatest importers of wood pellets. Made from sawdust shavings and other lumber product residue with low moisture content, wood pellets have a higher combustion efficiency than most other biofuels.
In addition to the above-mentioned types of solid fuels, municipal and industrial waste are a significant contributor to bioenergy worldwide. The utilization of waste for energy production has grown in importance as cities and other urban districts grapple with rising waste volumes. By 2024, the global waste-to-energy market value is projected to have reached 42.74 billion U.S. dollars.
As of 2019, global bioenergy capacity amounted to 123,802 megawatts, with an annual growth rate of around one percent during the ten years prior. As governments and industries scramble to find green alternatives to carbon intensive sources such as petroleum and coal, the share of bioenergy in total primary energy supply is expected to climb to ten percent by 2050. However, investments in bioenergy technology have slowed in recent years, while market uncertainty following the coronavirus pandemic may further stifle industry prospects.