Global Biochar Market Report, published by Variant Market Research, forecast that the global market is expected to reach $17,050 thousand by 2024 from $5,154 thousand in 2016; growing at a CAGR of 16.1% from 2016 to 2024. In terms of volume, the global biochar market is estimated to reach 32,081 tons by 2024, from 6,271 tons in 2016; growing at a CAGR of 22.6% from 2016 to 2024. By geography, RoW and Asia-Pacific are expected to grow at a CAGR of 16.9% and 16.6%, respectively, during the forecast period. Biochar is used to prevent fertilizer overflow, soil leeching, and to preserve the moisture level of the soil. Biochar, acarbon rich charcoal used to take away sand pollutants and all harmful elements from the soil. It has numerous applications like household, gardening, and agriculture.
Biochar Market (By Feedstock: Agriculture Waste, Forestry Waste, Animal Manure, and Biomass Plantation; By Technology: Microwave Pyrolysis, Batch Pyrolysis Kiln, Continuous Pyrolysis Kiln, Gasifier & Cookstove, and Other Technologies; By Application: Gardening, Agriculture, and Household; By Geography: North America, Europe, Asia-Pacific and RoW)Global Scenario, Market Size, Outlook, Trend and Forecast, 2015 – 2024
The factors supporting growth of the global biocharmarket are increasing government initiatives, stringent environmental regulations, biochar’s natural carbon sequestration feature, and waste managementpotential. However, high cost, and absence of consumer awareness about the benefits of biochar may act as a restraint for the growth of the market. Moreover, developing economies & growing biofuel industry would provide several growth opportunities for the market in the future years.
Feedstock, technology, application,and geography are the major segments considered in the globalbiocharmarket. Feedstock includes agriculture waste, animal manure, forestry waste, and biomass plantation. By technology, the market is further divided into batch pyrolysis kiln, microwave pyrolysis, continuous pyrolysis kiln, gasifier and cookstove, and other technologies. By, application, the market is bifurcated into gardening, agriculture, and household.The country wise analysis has been also covered under the scope of the report. North America covers the U.S., Canada, and Mexico. Germany, France, UK, and Rest of Europe are analyzed under the European market. China, India, and Rest of Asia-Pacific are included under the Asia-Pacific market. While RoW is bifurcated into South America, Middle East, and Africa.
Forestry wasteaccounted for the largest market share in the feedstock segment
Global Biochar Market, by Feedstock
Forestry waste accounted for the largest market share in 2016, in thefeedstock segment, and is expected to continue its dominance during the forecast period 2016 – 2024, owing to its use in biofuel production.
Continuous pyrolysis kiln accountedfor the largest market share in the technology segment
Global Biochar Market, by Technology
Continuous pyrolysis kiln accounted for the largest market share in 2016, in the technology segment, and is expected to continue its dominance during the forecast period 2016 – 2024, owing to high adoption of continuous pyrolysis kiln technology for biochar production.
Gardeningaccountedfor the largest market share in the application segment
Global Biochar Market, by Application
Gardening accounted for the largest market share in 2016, in the application segment, and are expected to continue its dominance during the forecast period 2016 – 2024, owing tohigh usage of biochar in gardeningto enhance soil fertility &plant growth.
North America dominated the global market with highest market share over the forecast period
GLOBAL BIOCHAR MARKET SHARE BY GEOGRAPHY, 2016 (%)
North America dominated the global market with largest market share in 2016, and expected to continue its dominance during the forecasted period, owing to rising demand for agricultural products and enhancement in soil fertility and crop yield in the region. This region reports high usage of chemical fertilizers, with mining &deforestation, resulting the degradation of its soil quality, driving the growth of the Market in the forecasted period.
The major players operating in the market are Cool Planet Energy Systems, Vega Biofuels, Inc., Pacific Pyrolysis Pty Ltd, Earth Systems Bioenergy, Pacific Biochar, Genesis Industries LLC, CharGrow, LLC, Diacarbon Energy Inc., Biochar Supreme LLC, and Phoenix Energy, among others.