NEW YORK, Sept. 17, 2021 /PRNewswire/ -- 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, 2020–2026". According to the report, global Biochar market accounted for USD 1,503.75 Million in 2019 and is expected to reach USD 3,673.68 Million by 2026, growing at a CAGR of 13.61%.
Biochar is commonly produced in the presence of oxygen when biomass, such as wood leaves or manure, is heated or burned. Typically, they are created by a process called pyrolysis and are commonly used to improve soil quality and mitigate climate change. Biochar is able to transform carbon into a stable form and is cleaner than other charcoal forms. They are used in applications such as agriculture, gardening, and electricity generation among others. Cheaper cost of raw material, environmental awareness and government laws for waste management are predicted to create huge platform for market expansion.
Biochar, carbonized biomass similar to charcoal, has been used in the urgent medical care of animals for several years. Biochar has been increasingly used by livestock farmers since 2010 as a daily feed supplement to enhance animal health, increase the quality of nutrient intake and thus productivity. As biochar gets 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, causing lower nutrient losses and greenhouse gas emissions. Thus, the demand for biochar in livestock feed has accelerated the growth of biochar market globally. Moreover, the increasing demand of biochar in greenhouse gas remediation and energy production has also spiked the overall growth of the market. Additionally, rising environmental concern and awareness about the biochar among population is another factor boosting the demand for 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 Kiln, Cookstove and Others. Of these, the most effective production process is pyrolysis. It is projected to grow faster in terms of revenue over the forecast period due to the high end-product yield of high carbon content and process stability. A modest increase in the use of gasification technology has been witnessed due to the increasing need for power generation. As the process does not produce stable biochar that is capable of being used in agricultural applications, it is projected to lose market share in the coming years. By application, the market is segmented into Agriculture (farming, livestock, others), Gardening, Electricity Generation and Others. In 2018, the largest share of total biochar demand was held by the agriculture application segment. Biochar helps to increase the holding capacity of water and fertilizers and enhance the biological productivity of soils, which helps to provide crop nutrition and accelerate growth. A significant number of farmers, however, still lack knowledge about the commodity and its advantages. In agricultural applications, farming is expected to increase significantly, thereby rising the overall market demand, owing to rising awareness about the uses of biochar among farmers by institutes' research groups.
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 the commodity and, with growing demand for organic foods and high meat consumption, is expected to see substantial growth. Compared to others, the understanding of biochar is very high in this area, and the agriculture community has more knowledge and understanding about the product and its advantages. In addition, low livestock feed costs are expected to increase consumption in this market. Due to the existence of large and developing agricultural sectors in rising 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 among the farming community of biochar and its benefits, resulting in increased demand.
Global Biochar Market: Competitive Players
Some of key players in Biochar market are Cool Planet, Genesis Industries, LLC, Pacific Biochar Benefit Corporation, CharGrow USA LLC, Phoenix Energy Group, Black Owl Biochar, Airex Énergie Inc., Ambient Energy LLC, ETIA Group, CharGrow USA 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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