NEW YORK, September 17, 2021 / PRNewswire / – Zion Market Research has released a new report titled “Biochar market by type of feedstock (woody biomass, agricultural waste, animal manure and others), by technology (pyrolysis, gasification and others) and by application (power generation, agriculture and forestry): a global perspective of industry, comprehensive analysis, and forecast, 2020-2026 “. According to the report, global biochar market represented $ 1,503.75 million in 2019 and should reach $ 3,673.68 million by 2026, with a CAGR of 13.61%.
Biochar is typically produced in the presence of oxygen when biomass, such as wood leaves or manure, is heated or burned. Typically, they are created through a process called pyrolysis and are commonly used to improve soil quality and mitigate climate change. Biochar is able to convert carbon into a stable form and is cleaner than other forms of charcoal. They are used in applications such as agriculture, gardening, and power generation, among others. The lower cost of raw materials, environmental awareness, and government waste management laws are expected to create a huge platform for market expansion.
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Global Biochar Market: Growth Factors
Biochar, a carbonized biomass similar to charcoal, has been used in urgent medical care for animals for several years. Biochar has been used more and more by breeders since 2010 as a daily food supplement to improve animal health, increase the quality of nutrient supply and therefore productivity. As the biochar becomes enriched during the digestion process with nitrogen-rich organic compounds, the excreted biochar manure becomes a more useful organic fertilizer during storage and soil application, resulting in less waste. nutrients and greenhouse gas emissions. Thus, the demand for biochar in animal feed has accelerated the growth of the biochar market globally. In addition, the growing demand for biochar in greenhouse gas remediation and power generation has also driven the overall market growth. Moreover, the growing environmental concern and awareness of biochar among the population is another factor which is driving the demand for the global biochar market.
Global biochar market: segmentation
The global biochar market is segmented into technology, application, and region. By technology, the market is segmented into pyrolysis, gasification, microwave pyrolysis, batch pyrolysis oven, cooker and others. Of these, the most efficient production process is pyrolysis. It is expected to grow faster in terms of revenue over the forecast period due to the high yield of the high carbon end product and the stability of the process. A modest increase in the use of gasification technology has been observed due to the increasing need for electricity generation. As the process does not produce stable biochar that can be used in agricultural applications, it is expected to lose market share in the coming years. By Application, the market is segmented into Agriculture (Agriculture, Animal Husbandry, Others), Gardening, Power Generation, and Others. In 2018, the largest share of the total demand for biochar was held by the agricultural applications segment. Biochar helps to increase the holding capacity of water and fertilizers and improve the biological productivity of soils, which helps provide nutrition to crops and accelerate growth. However, a significant number of farmers still lack knowledge about the product and its benefits. In agricultural applications, agriculture is expected to increase significantly, thereby increasing the overall market demand, due to the growing awareness of the uses of biochar among farmers by research groups of institutes.
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Global Biochar Market: Regional Analysis
Based on regions, the global Biochar market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America has been the largest buyer of this product and, given the increasing demand for organic food and high meat consumption, is expected to experience substantial growth. Compared to others, the understanding of biochar is very high in this area, and the farming community has more knowledge and understanding about the product and its benefits. In addition, low feed costs are expected to increase consumption in this market. Due to the existence of important and developing agricultural sectors in emerging economies, such as China and India, the Asia Pacific is expected to experience extremely high growth. Several R&D activities and government initiatives are expected to lead to the dissemination of knowledge within the agricultural community on biochar and its benefits, leading to increased demand.
Global biochar market: competitive players
Some of the major players in the biochar market are Cool Planet, Genesis Industries, LLC, Pacific Biochar Benefit Corporation, CharGrow United States LLC, Phoenix Energy Group, Black Owl Biochar, Airex Énergie Inc., Ambient Energy LLC, ETIA Group, CharGrow United States LLC, Avello Bioenergy, Pyrocal Pty Ltd, American BioChar Company, Terra Humana Ltd, Bioforcetech Corporation, ECOERA Millennium Biochar and Carbon Emission Removal Service, EkoBalans Fenix, Carbo Culture, Biochar Now, LLC., GreenBack Pte Ltd and others.
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This report segments the global biochar market into:
Global Biochar Market: Raw Material Type Analysis
- Woody biomass
- Agricultural waste
Global Biochar Market: Technology Analysis
Global Biochar Market: Application Analysis
- Electricity production
Global Biochar Market: Regional Analysis
The Middle East and Africa
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