The global biochar market size is estimated to reach USD 3.1 billion by 2025,
according to a new report by Grand View Research, Inc.. It is expected to
expand at a CAGR of 13.2% over the forecast period. Globally increasing demand
for the product in organic farming has been a major factor influencing the
growth. In addition, increasing consumption in livestock feed and awareness
pertaining to benefits of biochar as soil amendment are expected to drive the
demand.
Biochar is an evolving industry and is
anticipated to become a major influencing factor in increased crop yield and
productivity of the agriculture sector. It improves soil fertility and provides
necessary nutrition to crop. Moreover, applications in energy production and
greenhouse gas remediation are expected to provide new revenue opportunities to
the sector.
The market consists of organized and
unorganized manufacturers. Growing economies such as China, India, Japan,
Mexico, and Brazil produce significant amount of biochar through small and
medium scale industries mainly running into village areas. Whereas, large scale
manufacturers are concentrated in North America.
Consumption in agricultural application was
the highest in 2018 and is anticipated to rise significantly over the forecast
period. Among various applications in agriculture, farming held the highest
market share of more than 50% in 2018.
In terms of volume, the agriculture sector
is estimated to witness speedy growth over the forecast period with a projected
CAGR of 12.5%. It has also gained high popularity in livestock farming as an
additive in animal feed. The livestock sector has gained high importance,
especially in regions such as Europe and North America where animal flesh is
extensively consumed by human beings as a food. As a result of this, biochar consumption
is expected to grow substantially in the foreseeable future.
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or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/biochar-market
https://www.grandviewresearch.com/industry-analysis/biochar-market
Further key findings from the study suggest:
· Total product manufactured using pyrolysis
technology in 2018 accounted for 63.4% market share in terms of revenue and is
expected witness rapid growth over the estimated period
· Asia Pacific is expected to witness
extensive growth in the forthcoming years due to increasing application of the
product in livestock feed and organic farming
· Key players including Vega Biofuels Inc.;
Diacarbon Energy Inc.; and Agri-Tech Producers have made high investment in
implementation of gasification process and are likely to increase their
manufacturing capacity
· Pyrolysis technology is increasingly used
by Earth Systems and Clean Fuels B.V. among other manufacturers operating in
the biochar market.
Grand View Research, Inc. has segmented the
global biochar market on the basis of technology, application, and region:
Biochar Technology Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
Pyrolysis
·
Gasification
·
Others
Biochar Application Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
Agriculture
·
Others
Biochar Regional Outlook (Volume, Kilotons;
Revenue, USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
