Europe Peat Market is expected to rise US$2.13 bn by the end of 2024 Peat Market to Grow a Sluggish Pace of 0.6% CAGR | 页面 2

Rising Environmental Concerns Regarding Harmful Emissions Cause Sluggishly Growh
In terms of market growth, the demand for peat is foretold to occur at a slow pace during the
upcoming years. This is mainly due to an increase in the use of non-conventional energy sources,
thanks to rising environmental issues regarding pollution. This sluggish growth is likely to
continue in future, which could even go on until all the peat reserves on the planet are depleted.
Wood fiber, coir, land fill biomass, and green compost are some of the alternatives being utilized
in replacement of peat reserves. However, a marginally good growth by this market is witnessed
in the agricultural and horticultural domains. This is mainly due to peat being used extensively in
the above-mentioned industries, majorly for providing high quality aeration and moisture to soil.
Nevertheless, such applications are not enough to build a miracle growth for the Europe peat
market, and its present rate of expansion could just remain the same during the forthcoming years.
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Unevenly Spread Peat Resources Hampers Progress from a Geographical Perspective
In terms of restraining factors, several governmental regulations and environmental concerns has
remarkably affected the Europe peat market. This trend is anticipated to continue during the
forecast period, and is therefore expected to unfavorably affect the market growth. Moreover, the
resources are not spread evenly across Europe. Due to specific countries monopolizing on the use
and availability of peat, the Europe peat market’s expansion is being hampered notably from a
geographical perspective. However, peat is largely used for fueling power plants in several regions,
thus contributing towards a marginal growth witnessed by the Europe peat market. Coupled with
this, a fairly extensive use of peat in the horticultural and agricultural fields could offset most
restraints affecting the market.
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Some of the leading companies operating in the Europe peat market are Bord na Mona, Klassmann
Dielmann, Vapo Oy, Oulun Energia, and Neova Ab.