The global biochar market reached a value of US$ 1.5 Billion in 2021. Looking forward, the analyst expects the market to reach US$ 3.1 Billion by 2027, exhibiting a CAGR of 12.37% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Biochar refers to the fine-grained biomass obtained by burning wood, animal manure, forest waste and other agricultural by-products in a limited oxygen environment. It is a porous substance that can retain water and nutrients in the soil for absorption by plants. Biochar primarily reduces soil leaching, pollution levels and toxic elements in the ground and increases soil carbon sequestration. Considering the long-term results, biochar can significantly reduce the atmospheric greenhouse effect, while improving water quality and agricultural productivity.
The growing agriculture industry is one of the key factors driving the global biochar industry. Increasing preference for natural and organic food products, along with a growing need for enhancing soil fertility and crop growth, is contributing significantly to the demand for biochar in the agriculture sector. In addition to this, organic farming practices are widely gaining preference as a means of sustainable development and are considered to bridge the substantial demand and supply gap of food products across the globe. Furthermore, biochar is rapidly being utilized in other farming practices, including zero tillage farming, biodynamic agriculture and mixed farming, which is significantly impacting the market growth. The rising urbanization in emerging nations has positively impacted the acceptance of biochar as an appropriate substitute for chemical fertilizers. Apart from this, the use of biochar for insulation in the construction industry, for energy storage in supercapacitors, manufacturing food packaging material and as a feed supplement and air-purifying agent, is catalyzing the overall industry growth. Other factors, such as extensive research and development (R&D) and the implementation of favorable government policies to encourage biochar usage in order to increase the land productivity, are projected to further drive the market in the coming years.
Key Market Segmentation: the analyst provides an analysis of the key trends in each sub-segment of the global biochar market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on feedstock type, technology type, product form and application.
Breakup by Technology Type: Slow Pyrolysis Fast Pyrolysis Gasification Hydrothermal Carbonization Others
Breakup by Product Form: Coarse and Fine Chips Fine Powder Pellets, Granules and Prills Liquid Suspension
Breakup by Application: Farming Gardening Livestock Feed Soil, Water and Air Treatment Others
Breakup by Region: North America Europe Asia Pacific Middle East and Africa Latin America
Competitive Landscape: The report has also analysed the competitive landscape of the market with some of the key players being Agri-tech Producers, Diacarbon Energy Inc., Cool Planet, Pacific Biochar, Phoenix Energy, Biomacon GmbH, Vega Biofuels, Terra Char, Avello Bioenergy, Genesis Industries, Interra Energy Services, Element C6, Carbon Gold Ltd. ans Biochar Solution Ltd., etc.
Key Questions Answered in This Report: How has the global biochar market performed so far and how will it perform in the coming years? What are the key regional markets in the global biochar industry? What has been the impact of COVID-19 on the global biochar industry? What is the breakup of the market based on the feedstock type? What is the breakup of the market based on the technology type? What is the breakup of the market based on the product form? What is the breakup of the market based on the application? What are the various stages in the value chain of the global biochar industry? What are the key driving factors and challenges in the global biochar industry? What is the structure of the global biochar industry and who are the key players? What is the degree of competition in the global biochar industry?
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