India Biomass Market to Reach Valuation of ~Us$ 4 Bn By 2030

India Biomass Market: Introduction

The biomass market in India was valued at ~US$ 2 Bn in 2019 and is anticipated to expand at a CAGR of ~8% during the forecast period. Based on feedstock, the agriculture waste segment held dominant share of the biomass market in India in 2019. In terms of product, the bioethanol segment accounted for major share of the biomass market in India in 2019 led by the introduction of the ethanol blending target in the country. India aims to achieve an E10 blend by 2020 and E20 blend by 2030. Ethanol, a biofuel with high octane number, is produced by the fermentation of sugarcane, sugar beet, grain, potatoes, corn, and vegetable residues. Based on application, the heating segment constituted significant share of the biomass market in India in 2019. This can be ascribed to the abundant availability of biomass resources in the country. Approximately 70% of the rural population in India utilizes biomass for space heating and cooking applications. Based on technology, the thermal segment occupied large share of the biomass market in India in 2019.

Major Drivers of India Biomass Market

Of late, primary energy consumption has witnessed a rapid growth in India. The growth of energy consumption attributed to increase in population and economic growth in the country. Significant investments and technological advancements are driving the development of sustainable sources of energy such as, solar, wind, geothermal, and biomass in order to meet the rising demand for energy in India. Biomass is one of the highly attractive sustainable sources, as it offers various features such as ease of availability, economical cost, and carbon neutrality over alternate fuels. Biomass accounts for 32% of the total primary energy usage in India. More than 70% of the country’s population depends upon biomass for its energy needs. The Government of India has introduced several financial assistance schemes such as Central Financial Assistance (CFA) and fiscal incentives to facilitate the development of biomass power generation projects and bagasse cogeneration projects. The increase in demand for primary energy and introduction of several programs and incentives pertaining to the bioenergy technology are expected to create lucrative opportunities for the biomass market in India in the near future.

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India Biomass Market: Outlook

The biomass market in India is anticipated to expand in the near future, owing to the enactment of stringent government regulations to minimize environmental impact. Furthermore, increase in focus on reducing fossil fuel import dependency by enhancing utilization of renewable sources is expected to propel the biomass market in India. For instance, in 2009, the Ministry of New and Renewable Energy introduced a national policy on biofuels to meet the increasing energy needs of the nation. The policy aims to achieve 20% ethanol blending and 5% biodiesel blending by 2030.

Prominent Developments in India Biomass Market

In October 2019, India-based Energy Power Company signed an agreement with the U.S.-based Bloom Energy to install a zero-carbon solution at its biogas plant for supplying clean power to local businesses in Shirala district, Maharashtra. In January 2019, ExxonMobil Corporation and Renewable Energy Group (REG) announced that they had signed a joint research agreement with Clariant to evaluate the potential use of cellulosic sugars from sources such as residues and agricultural waste to produce biofuel.

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Competition Landscape of India Biomass Market

The biomass market is dominated by several mid & large size players operating in India. Prominent players functioning in the biomass market in India are Emami Agrotech Ltd., Muenzer Bioindustrie GmbH, Universal Biofuel, Aemetis, BIOD ENERGY (INDIA) PVT LTD, Monopoly Innovations Private Limited, and EnviTec Biogas AG.

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