Biochar’s potential for carbon sequestration and climate change mitigation is a major driver shaping the market expansion
Rockville , Dec. 18, 2023 (GLOBE NEWSWIRE) — As per Fact.MR, a provider of market research and competitive intelligence, the global Biochar Market is projected to rise at a CAGR of 14.1% to reach a US value of $26.5 Mn by 2033-end.
Biochar is a type of charcoal made by heating organic materials like agricultural waste or wood in the absence of oxygen. It stands out for its ability to store carbon in the soil for a long time, aiding in the fight against climate change. Biochar improves soil health by enhancing structure, retaining nutrients, and promoting beneficial microorganisms. Compared to alternatives, it’s effective in reducing greenhouse gas emissions, managing organic waste, and improving water quality by preventing nutrient runoff. Additionally, biochar’s porous structure helps retain water, making soil more resilient to drought.
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The biochar industry is driven by a growing awareness of sustainable agriculture and the need for carbon-neutral solutions. Recognized for enhancing soil fertility and carbon sequestration, biochar is gaining traction among governments, farmers, and industries seeking eco-friendly alternatives. Its expanding applications in water filtration and waste management contribute to the overall growth of the market.
In the biochar market, a struggle is to increase production to meet growing demand. This involves difficulties in securing enough organic materials for biochar production and adopting advanced, scalable technologies. Moreover, Dependence on specific biomass feedstocks leads to potential resource competition.
Report Attribute
Details
Value Projection (2033)
US$ 26.5 Million
Growth Rate (2023-2033)
14.1% CAGR
No. of pages
170 Pages
No. of Tables
112 Tables
No. of Figures
93 Figures
Key Takeaways:
nticipated to exhibit a CAGR of 16.2% from 2023 to 2033, the Chinese market is poised for substantial growth. This surge is attributed to the rising demand for premium-quality food and a growing inclination towards organic crop produce among most of the population.
The United States holds a leading position in the biochar market, primarily driven by the rising demand for organic food and substantial meat consumption. Additionally, the growing awareness of the benefits of biochar contributes to the market’s expansion in the country.
The technology of biochar pyrolysis is employed to create high-quality biochar products known for their efficiency and effectiveness. The production of pyrolysis biochar is expected to expand due to its capacity to yield products with high carbon content and exceptional stability.
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