According to the latest report by IMARC Group, titled "Biochar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global biochar market size reached US$
1.5 Billion in 2021. Biochar is a carbon-rich product that is obtained by burning organic materials, including wood, leaves or animal manure, at a controlled temperature in an environment with limited oxygen availability. It is characterized by a black color and porous texture that is lightweight in nature. It is a fine-grained material that is considered to be a cleaner and more efficient alternative to other types of charcoal for converting carbon into a stable form. It can also retain moisture and nutrients in the soil for plant absorption, thereby reducing soil pollution and leaching. It is widely utilized across the agricultural sector for enhancing agricultural productivity and minimizing the atmospheric greenhouse effect.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Biochar Market Trends:
The global market is primarily driven by significant growth in the agricultural sector. Biochar is increasingly used in the sector to enhance soil quality and crop yield by improving the water quality and quantity as well as soil retention of nutrients and agrochemicals. This is supported by the widespread popularity of organic farming across the globe, wherein biochar is widely utilized as a sustainable substitute for chemical fertilizers. With the inflating disposable income levels of the masses and an enhanced focus on sustainable development, there has been a considerable rise in sales of organic fruits and vegetables, thereby providing an impetus to the market growth. Moreover, biochar also finds widespread utilization in other farming practices, such as biodynamic agriculture, zero tillage farming and mixed farming. This, coupled with the numerous favorable initiatives undertaken by the government of several countries to promote the use of biochar in the agricultural sector for improving land fertility and productivity, is expected to create a positive outlook for the market. Some of the other factors contributing to the market growth include thegrowing product utilization in the construction industry for insulation purposes, increasing popularity of biochar as a feed supplement and extensive research and development (R&D) conducted by key players.On account of these factors, the market is expected to grow at a CAGR of
12.37% during 2022-2027.
- Based on the feedstock type, the market has been segmented into woody biomass, agricultural waste, animal manure and others.
- On the basis of the technology type, the market has been classified into slow pyrolysis, fast pyrolysis, gasification, hydrothermal carbonization and others.
- The market has been categorized based on the product form into coarse and fine chips, fine powder, pellets, granules and prills, and liquid suspension.
- On the basis of the application, the market has been segregated into farming, gardening, livestock feed, soil, water and air treatment, and others.
- Region-wise, the market has been divided into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has been examined in the report with the detailed profiles of the key players. Some of these players include Agri-tech Producers, LLC, Diacarbon Energy Inc., Cool Planet Energy Systems, Inc., Pacific Biochar Benefit Corporation, Phoenix Energy Group, Biomacon GmbH, Vega Biofuels, Inc., Terra Char, Avello Bioenergy, Inc., Genesis Industries, LLC, Interra Energy Services, Element C6, Inc., Carbon Gold Ltd. and Biochar Solution, Inc.
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