Zion Market Research has published a new report titled “Biochar Market by Feedstock Type (Woody Biomass, Agricultural Waste, Animal Manure, and Others), by Technology (Pyrolysis, Gasification, and Others), and by Application (Electricity Generation, Agriculture, and Forestry): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global biochar market was USD 1.48 billion in 2018 and is expected to reach USD 3.82 billion by 2025, at a CAGR of 14.5% between 2019 and 2025.
Biochar is nothing but charcoal used to enhance soil fertilization. Biochar is a carbon-rich product, stable solid. It is used to carry flavors sweeteners and any other ingredient in chewing gums. It is obtained by precise heating of waste materials, such as wood waste, agricultural waste, animal manure, and forest waste.
Biochar is mainly charcoal obtained by precise heating of waste materials, such as wood waste, agricultural waste, animal manure, and forest waste. It has a broad range of application including electricity generation, pharmaceutical, agriculture, and forestry.
The global biochar market is expected to grow substantially in the future, owing to the growing biochar demand for its health benefits and increased biochar usage in electricity generation, pharmaceutical, and forestry applications in most of the regions globally. The increased demand for organic food is also anticipated to be a prime driver for the global biochar market over the forecast time period. Positive government policies, cheaper raw materials, and rising environmental awareness for waste management are further likely to play a major role in driving the global biochar market. Enhancement of soil richness and plant quality provided by biochar usage are also supporting the global biochar market. However, technological barriers and high investments in remote areas may hinder the biochar market in the upcoming years. Nonetheless, product innovation and emerging markets in the Asia Pacific region will probably open new growth avenues for the major players in the years to come. The manufacturers are concentrating on inventive products are projected will also propel this market in the upcoming years.
The global biochar market is fragmented on the basis of feedstock type, technology, and application. By feedstock type, the global biochar market is classified into agricultural waste, animal manure, woody biomass, and others. The woody biomass feedstock segment accounted for a major market share in 2018. On the basis of technology, the global biochar market includes pyrolysis, gasification, and others. The application segment of the global biochar market includes electricity generation, agriculture, and forestry. The agriculture segment led the global biochar market in 2018.
In 2018, North America was estimated to be the biggest biochar market due to the rising demand for biochar. The U.S. is the major contributor and holds the highest share of this regional market, as a result of huge product awareness in the country. North American countries (the U.S., Canada, and Mexico) are increasingly investing in biochar in industries (pharmaceuticals, agriculture, etc.), which is anticipated to further this regional market’s growth in the years ahead.
In 2018, Europe was the second largest market for biochar due to the rising health awareness in UK, France, and Germany. The growth of the biochar in the overall region is mostly due to the increased consumer awareness about biochar’s application, rising product demand for organic farming from the agricultural sector, stringent environmental regulations, and growing usage of biochar in livestock animal feed are expected to propel the European biochar market over the forthcoming years.
The Asia Pacific biochar market is anticipated to be the fastest growing in the future, owing to the increasing biochar demand from food, pharmaceutical, agricultural, and clinical sectors, especially in India and China countries. Strict environmental regulations, increasing use of biochar as feedstock, growing demand for organic farming and its use as waste management material are anticipated to propel the Asia Pacific biochar marker over the forecast time period. China is the third largest organic food producing nation globally. Government initiatives and various R&D activities are anticipated to contribute to the rising awareness about biochar and its advantages among the farming community.
Latin American and the Middle Eastern and African regions are anticipated to experience moderate growth in the biochar market in the future, owing to the noteworthy investments by international companies for biochar projects in these regions and iimproving economic condition.
Some major players of the global biochar market are Airex Energy, BSEI, Diacarbon Energy, Pacific Pyrolysis, Phoenix Energy, 3R ENVIRO TECH Group, Biochar Supreme, Cool Planet Energy Systems. Research institutions like the Federal Rural University of the Amazon, Aberystwyth University, University of East Anglia, and Massey University are also engaged in the R&D and production of biochar.
This report segments the global biochar market into:
Global Biochar Market: Feedstock Type Analysis
Global Biochar Market: Technology Analysis
Global Biochar Market: Application Analysis
Global Biochar Market: Regional Analysis