Global Peat Market – Overview
Global Peat Market has seen a noteworthy period of growth in the past few years and is expected to continue its positive growth trend. Market Research Future, a firm which specializes in market reports related to the Chemicals and Materials sector among others, published in its recent report on Global Peat Market Research Report – Forecast to 2021 that the sector will demonstrate an outstanding CAGR percentage while developing at a high revenue rate in the forecast.
The Global Peat Market has grown aggressively in the past due to its usage in energy generation, horticulture etc. It’s use in the power and energy sector to generate heat and energy and in horticulture to increase the yield of crops are the major demand sources for this sector. Discovery of new sources of peat are instrumental to the progress of the peat market which is responsible for increasing the demand directed towards this sector. As it is a renewable source of energy, it is an important fuel source especially in today’s scenario where there is an increased need for clean fuels. Increasing preferences for electricity generation due to rising population around the world have also contributed significantly to the expansion of this sector. Popularity of biofuels is also backing the growth of this sector. The restrictions that can limit the growth of the market are the depletion of peat bog reserves which can cause environmental problems and supply shortage.
Latest Industry News:
Sep 2017 Semi-State energy company Bord na Móna is planning to invest up to €60 million in a proposed new wood pellet plant in the US state of Georgia that could be operational within two years. Bord na Móna has officially launch its new bioenergy division at the National Ploughing Championships in Screggan, Co Offaly. There is a major shortage of biomass raw material in Ireland, while market rates are similarly high, forcing the state-owned company to invest abroad while the Irish biomass-supply industry is ramped up to meet demand.
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Nov 2017 GrowLife,Inc. one of the nation’s most recognized indoor cultivation services providers, announced recently the release of the Company’s newest product, GrowLife HP Soil, that further supports GrowLife’s innovation business unit for the indoor cultivation industry. GrowLife HP which is a high-porosity organic peat, is highly oxygenated soil allowing it to dry out faster and more evenly then heavier soil mixes. This formulation offers cultivators the ability to feed plants more often, which results in increased yields. Growlife HP bales consist of long fibered Canadian sphagnum peat moss sourced from the best bogs in Canada.
Aug 2017 Palm Oil Company, Felda Global Ventures Holding Berhad (FGV) has agreed to restore more than 1,000ha of peat forest in West Kalimantan after coming under pressure for its unsustainable deforestation. FGV’s revised policy pledges no deforestation, no conversion of high conservation value areas, no new planting on peatland irrespective of depth or when the peatland was acquired, and to immediately stop all new development of peatlands. Additionally, the policy commits to rehabilitating the peatlands developed after the policy’s approval and to continue with community programmes in the neighbouring areas of PT Temila Agro Abadi and PT Cita Niaga Perkasa in Kalimantan.
Jan 2017 Bord na Mona has bought White Moss Horticulture, one of the largest green waste composting companies in the UK.The business manufactures composts and other growing media, and supplies large national retail outlets, landscapers, amenity companies and hobby gardeners. This acquisition will support the sustainability of their retail horticulture business. White Moss mixes peat and green waste to make its products. It makes own label compost for retail chains as well as amenity compost.
Dec 2016 Bord na Móna has been given permission to continue operating a power plant in Edenderry, Co Offaly until 2023. The semi-state company was originally given clearance by An Bord Pleanala to continue using the plant, which burns peat and biomass.
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Global Peat Market – Competitive Analysis
With the entry of new industry players in the Global Peat Segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced products. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
The leading market players in the Global Peat Market include Global Peat Ltd., Peat Land Ukraine LLC, The Ark Enterprises, Inc, Cocogreen, Smscoco, Global Coirs, T & J Enterprises and others.
Global Peat Market – Segments
The Global Peat Market is categorized into types, applications and region.
On The Basis Of Types: Fibric, Hemic, Sepric and Others.
On The Basis Of Applications: Fuel & Energy, Agriculture, Domestic, Medicine and Others.
On The Basis Of Region: Asia Pacific, Europe, North America, Latin America and the Middle East & Africa.
Global Peat Market – Regional Analysis
The Global Peat Market is spanned across five key regions: Asia Pacific, North America, and Europe. Other regions include the Middle East & Africa, and Latin America. Peat has a major contribution to the fuel and energy industry and additionally, in countries like Finland and Ireland, peat is majorly used for harvesting on an industrial scale. Countries such as Scotland and Ireland, peat is also used in cooking as in these regions where there is a scarcity of trees. The Global Peat Market is poised to achieve a million dollar growth rate by 2021, with an outstanding CAGR during the forecasted period.
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