Exploring the Surge in Wood Pellet Imports into Japan and South Korea

1 min read

Audrey Dixon : Oct 17, '24

Japan and South Korea's efforts to diversify their energy mix and meet emission targets have led to a substantial surge in the import of wood pellets. The move towards renewable energy for these countries has been a key factor in rising pellet consumption.

In 2012, Japan imported less than 72,000 metric tons of wood pellets. But fast forward to 2023, the country's total import of wood pellets escalated to 5.8 million metric tons. South Korea's wood pellet imports for the full year of 2023 jumped to 3.7 million metric tons, compared with 122,400 metric tons in 2012.

Although there are signs in Japan of waning enthusiasm for bioenergy investment amid questions about its environmental footprint, long-planned biomass power plants are still coming online. Asian markets continue to be important to global wood pellet producers such as UK-based Drax and US-based Enviva. While Enviva is undergoing a Chapter 11 bankruptcy process, and Drax faces some opposition to new pellet plants in the Western US, there is still healthy demand for the pellets they supply.

As the global energy landscape evolves and the demand for renewable energy sources intensifies, bioenergy presents both opportunities and challenges for the wood pellet sector. In the pursuit of a more sustainable future, there is an opportunity for sustainably sourced wood pellets to play a key role in the energy transition.

For a deeper understanding of Asian wood pellet imports in Japan, ResourceWise's detailed Market Insights report "Wood Pellet Imports to Japan and South Korea Have Soared Since 2012, as Both Countries Look to Renewable Energies to Help Cut GHG Emissions" provides thorough insights. Our report offers a clear overview of market dynamics and explains the trends influencing the global wood pellet market.

ResourceWise provides top-tier data, business intelligence, and market analytics to help companies make informed decisions. We specialize in price reporting, benchmarking, and strategic consulting for commodity markets, with a focus on forest products, chemicals, and renewable fuels. Our reports and analytics enable businesses to stay ahead and make well-informed choices.

Download the report now to gain a detailed understanding of the current trends in the Asian wood pellet market and their implications on your business and the energy sector.