Global Peat Market projected to hit USD 23.08 million at a 15.2% CAGR by 2030

The Global Peat Market size is expected to grow from USD 7.44 Million in 2022 to USD 23.08 Million by 2030, at a CAGR of 15.2% during the forecast period (2023-2030).

Market Overview:

Peat is a spongy material generated in wetlands such as swamps, muskegs, bogs, fens, and moors by the partial decomposition of organic matter, typically plant material. Warm moist climatic conditions favor peat formation; yet, peat can form even in cold places like Siberia, Canada, and Scandinavia.

Peat is economically essential as a carbon sink, a source of fuel, and a raw material in horticulture and other industries, in addition to its significant ecological relevance. Based on their macroscopic, microscopic, and chemical features, peats can be classified as fabric, coarse hemic, hemic, fine hemic, and capric.

Four qualities separate peat from lower-ranking coals: Peats can be cut with a knife and contain free cellulose, more than 75 percent moisture, and less than 60 percent carbon.

Top Key Players in the Peat Market:

Bord na Mona (Ireland), Premier Tech (Canada), CoCo Green (Pvt.) Ltd. (Sri Lanka), PEAT LAND UKRAINE LLC (Ukraine), Dutch Plantin B.V.

(Netherland), Globalcoirs (Canada), Elva E.P.T. Ltd. (Estonia), Oulun Energia Oy (Finland), Global Peat Ltd.

(Lativa), Jiffy International AS (Netherland), Klasmann-Deilmann GmbH (Germany), Lambert (US), Neova AB (Sweden), Stender AG (Germany), and Other Major Players.

Request Sample of the Report @

introspectivemarketresearch.com/request/16255

The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels.

For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.

Market Dynamics and Factors for Peat Market:

Drivers:

Augmenting Application of Renewable Energy Sources

The global market for peat has been driven by an increase in demand for natural and organic matter. Increased environmental concerns and awareness of the necessity of renewable energy sources indicate that non-renewable energy sources will be depleted in the future.

Due to population growth, there is also a rise in demand for power generation. Renewable energy use grew by 3% in 2020, while demand for all other fuels fell.

The biggest cause was a nearly 7% increase in renewable-energy-generated power. Despite decreasing electricity demand, supply chain issues, and building delays in many parts of the world, renewables development was fueled by long-term contracts, priority access to the grid, and the continuing installation of new plants.

As a result, renewables will account for 29 percent of worldwide electricity generation in 2020, up from 27 percent in 2019.

Opportunities:

Sustainable Peat Harvesting

Peat is often used as a soil amendment in agriculture and horticulture. There's an opportunity for sustainable peat harvesting practices that minimize environmental impact and adhere to conservation guidelines.

As environmental awareness grows, there's an increasing demand for peat-free alternatives for gardening and agriculture. Companies that develop and market sustainable and effective peat alternatives can capture this market.

There's a growing trend of home gardening and urban farming. Companies can develop innovative peat-based products like seed-starting mixes and potting soils tailored to these markets.

Didn’t find your desired data? Ask For Report Customization @

introspectivemarketresearch.com/custom-…arch/16255

Segmentation Analysis of the Peat Market:

By type, the coco peat segment is anticipated to hold the maximum peat market share over the forecast period.  Coco coir is a natural waste product of the coconut industry and is one of the most adaptable organic growing mediums available.

Coco peat is an environmentally friendly alternative to peat moss that has natural disease resistance and good water retention and aeration for plants.

By material type, the fabric segment is expected to dominate the peat market over the forecast period. The sheathed cotton sedge Eriophorum vaginatum, which grows in bogs and marshy soils, contains peat fiber.

Raised bogs always form on low-mineral-content soils with minimal drainage. Rainwater collects as if in a bathtub that fills up over time.

By Type

• Coco Peat
• Sod Peat
• Other

By Material

• Fabric
• Hemic
• Sapric
• Others

By Application

• Agriculture
• Domestic
• Fuel & Energy
• Medicine
• Others

Inquiry For This Report: -

introspectivemarketresearch.com/inquiry/16255

Regional Analysis of the Peat Market:

Due to increased demand from heavy industries, the peat industry in North America is likely to rise rapidly. A primary development driver in North America is the preference for peat as a substitute fuel in a variety of end-use applications such as agriculture, freshwater aquariums, water filtration, and others.

Furthermore, in the short term, production in the United States is likely to average around 420,000 tons per year, with imported peat from Canada accounting for more than 80% of domestic consumption. Imports are expected to rise to 1.7 million tons in 2021, up from 1.4 million tons in 2020, while exports are expected to fall to around 38,000 tons, down from 46,000 tons in 2020.

Peat stocks were expected to be roughly the same in 2021 as they were the prior year. Finland, Sweden, Germany, Latvia, Belarus, and Canada were the world's major peat producers in descending order of production in 2021, according to estimates.

By Region     

• North America (U.S., Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)

Key Industry Development:

In May 2021, by investing in renewable energy and service infrastructure, Neova hopes to increase profitability over time. The plan focuses on digitizing energy services and developing new peat-based goods.

Acquire the Report: -

introspectivemarketresearch.com/checkou…_sid=16255

News From

Introspective Market Research
Category: Market Research Publishers and Retailers Profile: Introspective Market Research is a visionary research company who is ready to assist their customer to flourish their business by offering strategies for gaining success. We sell market research reports received from other leading companies in the market research industry which offer in-depth and trustworthy information on different topics and sectors. The IMR founded by the team of experts and experienced professionals in the industry. The team is focusing on offering the empirical data colle ...