Biochar market size expected to reach USD 484
BEIJING, Aug. 07, 2022 (GLOBE NEWSWIRE) — The Global biochar market Was worth USD 168 million in 2021 and is expected to be worth USD 484 million by 2030, growing at a CAGR of 12.9% over the projected period of 2022 to 2030.
Rapidly increasing demand for organic products and components, increased use of organic soil-improving additives, and increased use of organic-based livestock feeds are significant factors expected to fuel growth revenue in the global biochar market over the next few years. Biochar is a kind of charcoal formed by heating waste such as forest waste, agricultural waste, wood waste, as well as manure from living things under prohibited conditions. It is commonly used as a natural fertilizer to reduce impurities and harmful chemicals, as well as to prevent water evaporation, soil erosion, and fertilizer runoff, among other things.
The term “biochar” refers to a fine-grained substance produced from organic by-products. Its production is an excellent technique to reduce pollution, which is a method of long-term carbon sequestration. Greenhouse gas emissions are the main contributor to global warming. The ability of biochar to sequester carbon is an excellent solution to this challenge. It is a carbon-rich, biodegradable solid substance that is commonly used in soil stabilization initiatives to increase soil properties, plant development, and crop production. In addition, it is used as a main component of livestock feed to improve digestibility, feed efficiency, toxin adsorption and blood value systems in cattle.
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|Biochar Market Size 2021||$168 million|
|Biochar Market Forecast 2030||$484 million|
|CAGR of Biochar Market||12.9% from 2022 to 2030|
|Analysis period||2018 – 2030|
|Forecast data||2022 – 2030|
|Segments Covered||By application, by raw material, by technology, by manufacturing process and by region|
|Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Profiled Key Companies||Agri-Tech Producers LLC, Biochar Products, Diacarbon Energy Inc., Chargrow LLC, Genesis Industries, Green Charcoal International, Vega Biofuels Inc., The Biochar Company, Pacific Pyrolysis Pty. Ltd., Cool Planet Energy Systems and Full Circle Biochar.|
|Report cover||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis|
Global Biochar Industry Analysis
In recent years, increasing population growth has increased the demand for agricultural production, leading growers to become increasingly dependent on biochar to increase crop productivity. This could be one of the major drivers for the growth of the biochar market over the forecast period. Additionally, enrichment with biochar has been shown to be beneficial in animal feeds such as goats, cattle, poultry, pigs, and fish. It is used as a nutritional supplement in a variety of sheep and cattle to improve blood patterns, feed conversion efficiency and disease resistance. It also contains high amounts of potassium, calcium and magnesium, which help reduce the occurrence of broken eggs in chickens. These characteristics have increased the use of biochar in livestock feed, leading to the growth of the biochar industry.
On the other hand, extensive research and development activities have increased the application potential of biochar in a wide range of application industries. For example, the textile sector has started to use biochar as an element of clothing. Additionally, it is incredibly beneficial for adsorbing pigments from effluents created when washing fabrics. Also, it is frequently used as an ingredient in cementing bricks and masonry units in conjunction with lime, clay and cement mortar. These aspects are expected to create new potential in the global biochar market.
Rising demand from agricultural sectors propels expansion of biochar market
The use of biochar is gradually increasing in emerging economies as it improves the chemical and physical qualities of soil, boosts soil productivity and fertility, and increases crop growth and strength while emitting fewer pollutants. Biochar has the unique ability to retain nutrients and moisture in the surface layers of the soil. Biochar facilitates agricultural harvests as well as seedlings by minimizing nutrient leakage from crop planting areas and fertilizer consumption by improving land cultivation due to the impact of liming that biochar creates to regulate an environment acid to neutral pH.
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The global biochar market has been segmented by Acumen Research and Consulting on the basis of application, raw material, technology, and manufacturing process. By application, the market is segregated into agriculture, gardening and household. By raw material, the market is divided into forestry waste, agricultural waste, biomass plantation, animal manure and others. By technology, the market is categorized into pyrolysis (microwave pyrolysis, continuous pyrolysis furnace, batch pyrolysis), gasifier and cooker, etc. By manufacturing process, the market is categorized into gasification, slow pyrolysis, fast and intermediate pyrolysis, etc.
Regional outlook of the global biochar market
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa are the regional classification of the global biochar market. According to the biochar industry analysis, the Asia-Pacific region is expected to grow at the fastest pace in the market in the coming years. Regenerative agriculture is becoming increasingly popular in the Asia-Pacific as it boosts productivity, soil microbiology and watershed health while absorbing carbon to mitigate the impacts of climate change. Moreover, with the growing demand for quality products and the appeal of the majority for various organic agriculture products in India, China and Malaysia, the demand for biochar in different farms is increasing. Additionally, many innovations and growing government projects are likely to contribute to the growing demand by spreading awareness of biochar and its benefits within the farming community.
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Biochar Market Players
Some of the major companies in the biochar market are Biochar Products, Chargrow LLC, Green Charcoal International, The Biochar Company, Cool Planet Energy Systems, Diacarbon Energy Inc., Genesis Industries, Agri-Tech Producers LLC, Pacific Pyrolysis Pty. Ltd., Vega Biofuels Inc., and Full Circle Biochar.
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Mr. Richard Johnson
Acumen Research and Consulting
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