Synopsis of Peat Market
Peat is an organic matter composed
of wetland vegetation that includes various bog plants such as mosses, sedges,
and shrubs. It is also called as turf. It has extraordinary ability to store
water. This condition is spread in other parts of the soil. Histosol is the
term used when an enormous amount of peat is present in the soil. This product
is of various types such as fabric, hemic, sepric, and others. It is mainly
used as a primary source for the production of fuel in some regions. Moreover,
it is utilized in various applications such as fuel & energy, agriculture,
domestic, medicine, and others.
Among the various segments in the
market, agriculture segment holds a major portion due to growing consumption of
peat in the sector as it provides excellent ability to retain the moisture in
the soil, when the product is dry and protect the soil from the water. It is
mainly used for the production of pasture and crops in the field. It is
projected that the fuel & energy sub-segment is set to grow at a significant
rate owing to increasing demand for peat in the production of fuel in the
sector. Additionally, the United Nations (UN) and United Nations Framework
Convention on Climate Change (UNFCCC) have recognized the importance of peat as
a source for the fuel and this has led to a surge in the demand from the
end-user industries. Moreover, the growing consumption and increasing demand
for the product in end-use industries such as alcoholic beverages, water
treatment, and horticulture is set to drive the market over the assessment
period.
Global Key Players:
·
Vapo
·
Stender AG
·
Oulun Energia Oy
·
Neova AB
·
Klasmann-Deilmann GmbH
·
Cocogreen®
·
Globalcoirs
·
BORD NA MÓNA
·
Jiffy Products International B.V.
·
PEAT LAND UKRAINE LLC
Market Segmentation:
The global peat market is segmented into the type and
application. The market by type is classified into fabric, hemic, sepric, and
others. On the basis of the application, the market is further categorized into
fuel & energy, agriculture, domestic, medicine, and others.
Regional Analysis
The global peat market is segregated into five crucial regions
of the world namely Asia Pacific, North America, Europe, Latin America, and the
Middle East & Africa. Among these, North America is projected to grow at a
higher rate in the market due to growing demand for peat in heavy industries.
The increasing consumption of peat as an alternative fuel in the end-use
application and growing demand for the product in agriculture, water
filtration, freshwater aquarium, and others. Owing to these factors, countries
such as the U.S., Canada, and Mexico are projected to be the leading players
during the forecast period.
The Asia Pacific region is estimated to witness a good growth
in the peat market owing to the rapid urbanization along with the growing
population that leads to excessive demand for the product in various countries.
China, Japan, and India are the major players in this region due to growing use
of the product in end-use industries such as agriculture, fuel & energy,
domestic, medicine, and others. The increasing consumption of the product in
physiotherapy, rheumatology, and sports medicine is set to propel the market
over the assessment period.
A notable growth is observed in the European market due to
extensive consumption of the product in agriculture applications to produce
fiber crops and others. It is estimated that the rising disposable income in
the agriculture segment has propelled the market to witness a rapid growth in
the region. Owing to these factors, Germany, the U.K., and Italy are projected
to be the major contributors to the market during the forecast period. The
Middle East & Africa is predicted to witness a slow growth in the market
due to the economic slowdown and less demand for the product in end-use
industries. Moreover, it is estimated that the growing agricultural activities
such as generating crops, fruits, vegetables, and increasing demand for the
product in water filtration systems have propelled the Latin American region to
witness a rapid growth in the market during the forecast period.
Geographical Analysis
The report covers brief analysis of the major geographic
regions namely Asia Pacific, Europe, North America, Latin America, and the
Middle East & Africa.
Intended Audience
- Peat manufacturers
- Traders and Distributors of
Peat
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
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