South Korea Biomass Market Size, Share, and COVID-19 Impact Analysis, By Feedstock (Food Crop, Non-Food Crop, Wood, Agricultural Residue, Municipal Solid Waste (MSW), Microalgae, and Others), By Technology (Combined Heat and Power (CHP), Anaerobic Digestion and Feedstockification, Co-Firing, and Landfill Feedstock), By Product (Biodiesel, Biomethanol, BioFeedstock, and Others) and By End Use (Industrial, Commercial, and Residential), and South Korea Biomass Market Insights, Industry Trend, Forecasts to 2035

South Korea Biomass Market Insights Forecasts to 2035

• The South Korea Biomass Market Size Was Estimated at USD 2.58 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 6.75% from 2025 to 2035
• The South Korea Biomass Market Size is Expected to Reach USD 5.29 Billion by 2035

According to a research report published by Spherical Insights and Consulting, The South Korea Biomass Market Size is anticipated to reach USD 5.29 Billion by 2035, growing at a CAGR of 6.75%from 2025 to 2035. As the nation works to diversify its energy sources and cut greenhouse gas emissions, the South Korean biomass market has been growing. Initiatives in line with the nation's energy transition strategy demonstrate the government's commitment to renewable energy, which is a major market driver. The goal of this approach is to increase the share of renewable energy in the total energy balance, which includes biomass as a feasible fossil fuel alternative.

Market Overview

The purchasing and selling of biomass, or organic materials that can be turned into fuel or energy, such as wood, agricultural waste, and waste products, is referred to as the biomass market. It includes a number of industries, such as the manufacture of biofuels, the use of biomass for heating and other industrial operations, and the production of energy from biomass power plants. Since biomass is a renewable resource, natural processes can restore it. It is a sustainable substitute for finite fossil fuels. Biomass is a carbon-neutral energy source since it only releases the carbon it took in during growth. Environmental laws and the growing awareness of biofuels as a sustainable substitute for fossil fuels are driving up demand for biofuels, such as ethanol and biodiesel. Producing and supplying biomass feedstock for biofuel facilities are thus presented. funding for biomass initiatives, including as non-bagasse cogeneration projects and facilities that produce pellets and briquettes, according to MNRE.

Report Coverage

This research report categorizes the market for South Korea biomass market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea biomass market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment South Korea biomass market.

Driving Factors

Policies such as renewable energy targets, feed-in tariffs, tax breaks, and renewable portfolio standards are being implemented by governments more frequently in an effort to support renewable energy. Energy consumption rises in tandem with population growth and economic expansion, necessitating the use of alternative energy sources like biomass. Stricter environmental laws brought about by growing worries about climate change and greenhouse gas emissions are forcing industry to employ cleaner energy sources like biomass. A variety of feedstocks, including wood waste, agricultural wastes, and other organic materials, biomass is an affordable and accessible energy source.

Restraining Factors

Biomass feedstock procurement and storage can be expensive and time-consuming, requiring transportation and warehouse infrastructure. The overall cost and complexity of biomass projects can be increased by resolving land use issues and ensuring sustainable feedstock sources. The acquisition of feedstock, pretreatment, and continuing maintenance are among the operational and maintenance expenses associated with biomass power plants.

Market Segmentation

The South Korea Biomass Market share is classified into feedstock, technology, product, and end use.

• The food crop segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korean biomass market is segmented by feedstock into food crop, non-food crop, wood, agricultural residue, municipal solid waste (MSW), microalgae, and others. Among these, the food crop segment held a significant share in 2024 and is expected to grow at a substantial CAGR during the forecast period. Food crops are crucial because they supply significant bioenergy sources. Since they are frequently derived from grains and oilseeds, they are needed for the production of biofuels and biogas.

• The combined heat and power (CHP) segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea biomass market is segmented by technology into combined heat and power (CHP), anaerobic digestion and feedstockification, co-firing, landfill feedstock. Among these, the combined heat and power (CHP) segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. Combined Heat and Power (CHP), which offers efficiency by producing useable heat and electricity at the same time, improving energy reliability and lowering greenhouse gas emissions.

• The biodiesel segment dominated share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea biomass market is segmented by product into biodiesel, biomethanol, bioFeedstock, and others. Among these, the biodiesel segment dominated share in 2024 and is expected to grow at a significant CAGR during the forecast period. Government programs that lower greenhouse gas emissions and promote renewable energy sources help biodiesel.

• The industrial segment held a majority share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea biomass market is segmented by end use into industrial, commercial, and residential. Among these, the industrial segment held a majority share in 2024 and is expected to grow at a significant CAGR during the forecast period. With strict laws aimed at lowering carbon emissions and sustainability goals, the industrial sector is increasingly embracing biomass as an alternative energy source.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea biomass market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies       

• Korea Hydro and Nuclear Power
• Korean Bioenergy Association
• Korea Research Institute of Bioscience and Biotechnology
• Hyundai Engineering 
• Korea Electric Power Corporation
• Daewoo International
• LG Chem
• Samsung C and T
• GS Energy
• Socar
• SK E and S
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea biomass market based on the below-mentioned segments:

South Korea Biomass Market, By Feedstock

• Food Crop
• Non-Food Crop
• Wood
• Agricultural Residue
• Municipal Solid Waste (MSW)
• Microalgae
• Others

South Korea Biomass Market, By Technology

• Combined Heat and Power (CHP)
• Anaerobic Digestion and Feedstockification
• Co-Firing
• Landfill Feedstock

South Korea Biomass Market, By Product

• Biodiesel
• Biomethanol
•  BioFeedstock
• Others

South Korea Biomass Market, By End Use

• Industrial
• Commercial
•  Residential