Asia’s demand for biomass is growing rapidly. Wood pellet imports into South Korea and Japan have grown exponentially in the past few years. In 2017 South Korea imported 2.4 million tons (Mt) of wood pellets, 20 times more than was imported in 2012. Japan is currently a smaller market, but its growth has also been impressive. Japan imported over 500,000 tons in 2017, a seven-fold increase from 2012. PKS consumption has risen at a similar rate, to 1.5 Mt in 2017.

South Korea’s biomass demand is supported by the Renewable Portfolio Standard, which aims to achieve a 10 percent renewable electricity share by 2024.