Biochar Market Analysis
The Biochar market is expected to grow at a CAGR of over 15% globally during the forecast period (2022-2027).
COVID-19 negatively affected numerous countries, which resulted in declining growth and production in several industries. However, the surging demand for food with the rising population is anticipated to increase the consumption of biochar in the agriculture industry.
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- Over the medium term, increasing applications for plant growth and development and growing demand for organic foods in developing countries are expected to drive the demand for the market studied.
- On the flip side, the risk of contamination and soil erosion is expected to hinder the market's growth in the coming years.
- Furthermore, rising environmental awareness and government policies to adopt environmentally friendly products are expected to offer new growth opportunities to the industry growth over the forecast period.
- North America is expected to dominate the market due to the growing demand for organic food across the region.
Biochar Industry Segmentation
Biochar is a charcoal-like substance made by burning organic material from forestry and agricultural wastes in a controlled process called pyrolysis. It is beneficial for composting as it reduces greenhouse gas emissions and prevents the loss of nutrients in the compost material. The Biochar market is segmented by Technology (Pyrolysis, Gasification Systems, and Other Technologies), Application (Agriculture, Animal Farming, Industrial Uses, and Other Applications), and Geography (Asia-Pacific, North America, Europe, and the Rest of the World). The report also covers the market sizes and forecasts for Biochar Market in 10 countries across the major region. For each segment, the market sizing and forecasts have been done on the basis of volume (Tons).
Asia Pacific as the largest regional industry in 2018. China is the leading biochar producer in the region and India following by. Southeast Asian countries such as Vietnam, Philippines, Malaysia etc. are some of the other developing markets in the region and is projected to experience significant growth in product usage over the next six years.
Biochar Market Analysis by Technology
Pyrolysis segment has dominated the market, accounting for more than 37.3% of revenue in 2021. Among the different manufacturing technologies available, pyrolysis is the most efficient production process. Due to the high end-product output of high carbon content and the process's reliability, it is predicted to grow at a CAGR of 13.8% in terms of revenue during the forecast period. The increased demand for power has resulted in a moderate increase in the utilization of gasification technology. The technique is likely to lose market share over the forecast period since it does not produce stable biochar that can be used in agricultural applications. Small producers employ additional industrial methods to increase profits, such as hydrothermal carbonization, acid hydrolysis, and cooking stove.Biochar
Market Analysis by Application
Agriculture applications accounted for more than 60% of total biochar consumption in 2021. Biochar improves soil biological productivity and increases water and nutrient holding capacity, which aids in crop nutrition and growth. However, a substantial percent of farmers are still unaware of the product's benefits. General farming is a major segment in agricultural applications that is predicted to grow significantly and augment total market demand as a result of increased awareness among farmers by research groups and institutes.
Key Companies Market Share Insights
Key players involved in the manufacturing of Biochar are BSEI, Airex Energy Inc., and Diacarbon Energy. More than 80.0% of medium and large scale manufacturers are concentrated in North America while the Asia Pacific and Europe comprise lesser concentration. The biochar market, especially in North America, has numerous small entrepreneurs who are completely integrated into the value chain, from the production stage to the selling stage.
Aberystwyth University, Massey University, Federal Rural University of the Amazon, and the University of East Anglia are among the few of the research institutions engaged in the production and RD activities of biochar. Timber manufacturers such as Georgia-Pacific, West Fraser, and Weyerhaeuser supply wood pellets and waste wood to various manufacturers in North America. This industry has numerous small manufacturers including Cool Planet Energy Systems Inc., who have integrated their value chain at all levels. Companies such as Cool Planet Energy Systems Inc., 3R ENVIRO TECH Group, Phoenix Energy, and Pacific Pyrolysis deliver pyrolysis technology to manufacture the product and waste to energy solutions.
Some of the prominent players in global Biochar market include:
Biochar Products, Inc.
LLCArSta EcoCarbon Gold Ltd
Airex Energy Inc.
Pacific Biochar Benefit Corporation