Korea to become key market for pellet producers
In addition to Europe, the Asian market, and in particular Korea, is predicted to become a highly profitable export market for wood pellet producers around the world.
While the renewable energy market is still on hold in Japan following the Fukushima disaster, and China's demand for biomass is supplied domestically, Korea has been identified to become an important and competitive market in the future.
Renewable energy mandates are in place throughout Korea, encouraging the generation of renewable power from biomass.
Malaysia, Canada and Chile export biomass pellets to Korea already, but this is expected to grow as the nation's demand for wood pellets increases dramatically.