The global biochar market size was US$ 1761.1 million in 2021. The global biochar market is projected to grow to US$ 3,701 million by 2030 by registering a compound annual growth rate (CAGR) of 10.7% during the forecast period from 2022 to 2030.
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A form of charcoal called biochar is created by carefully heating waste products like animal manure, wood waste, and agricultural waste. Among other uses, it is widely applied as a soil amendment to lessen contaminants and dangerous compounds, as well as to prevent moisture loss, soil leaching, and fertilizer runoff.
In the wake of the COVID-19 pandemic, the end-use industries of biochar, such as Agriculture, Animal Farming, Industrial, etc., recorded a potential decline, which, in turn, hampered the growth of the global biochar market during the analysis period. However, the agriculture sector recorded a sharp increase in demand, which, in turn amplified investments in this sector. As a result, it brought several growth opportunities for the global biochar market.
The rising demand for biochar in the agriculture sector will primarily drive the growth of the global biochar market during the analysis period. Biochar is considered beneficial as it improves the soil’s ability to hold water and fertilizer. Moreover, it also supplies essential nutrients to crops in order to stimulate plant growth. As a result, it is expected to drive the growth of the global biochar market during the analysis period.
The user interest in biochar is growing steadily, as it boosts soil fertility and hence results in better productivity. Further, the rapidly growing global population is projected to increase the demand for food. As a result, it will contribute to the growth of the global biochar market during the analysis period. The main use for biochar is in livestock and animal agriculture, including poultry and cow husbandry. In the years to come, demand and consumption are anticipated to return to normal in end-use industries like agriculture, electronics, and the textile industry. The expansion of the biochar market is anticipated to be driven by expanding applications and the rising usage of biochar for the production of heat and power.
On the flip side, the high cost of biochar may limit the growth of the market during the analysis period.
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North America is projected to dominate the global biochar market due to the presence of a large number of manufacturers of biochar, such as Diacarbon Energy (Canada), Frontline Bio Energy LLC (US), Pacific Biochar Corporation (US), etc. The Asia-Pacific biochar market will also grow at the potential growth rate owing to the growing regional population and demand for increasing yield.
• Novocarbo (India) • Airex Energy Inc. • Diacarbon Energy (Canada) • ArSta Eco Pvt Ltd. (India) • Biochar Supreme (US) • Coaltec Energy USA (US) • Farm2Energy Pvt. Ltd. (India) • Frontline BioEnergy LLC (US) • KARR Group Co. (KGC) (US) • Pacific Biochar Corporation (US) • Phoenix Energy (US) • ProActive Agriculture (US) • Other Prominent Players
The global biochar market segmentation focuses on Technology, Application, and Region.
By Technology • Pyrolysis • Gasification • Other
By Application • Agriculture • Animal Farming • Industrial • Others
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By Region • North America • The U.S. • Canada • Mexico • Europe • Western Europe • The UK • Germany • France • Italy • Spain • Rest of Western Europe • Eastern Europe • Poland • Russia • Rest of Eastern Europe • Asia Pacific • China • India • Japan • Australia & New Zealand • ASEAN • Rest of Asia Pacific • Middle East & Africa (MEA) • UAE • Saudi Arabia • South Africa • Rest of MEA • South America • Brazil • Argentina • Rest of South America
Key questions answered in the global chemical market report are:
— How does a global company acquire markets? — What are its core strategies and policies? — What factors will influence the chemical market over the forecast period? — What are the factors driving and restraining the market for chemicals? — What are the leading competitors in the global market? — Which region is growing at a higher pace in the global market?
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