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MMT), the first reduction since 2015. This drop is caused by a mild winter and a reduced demand from the commercial power sector. Current low prices, combined with government incentives, are forecast to support the popularity of biomass for residential heating in 2024.

In 2021, EU wood pellet consumption hit a new record of 23.1 million metric tons (MMT) mainly due to increased residential use in Germany and co-firing of wood pellets with coal in the Netherlands. In 2022, EU demand is expected to further grow to 24.3 MMT, based on expansion of the residential markets, mainly in Germany and France, boosted by support programs for the installation of biomass boilers and the high price of fossil fuels.