Global Biochar Market Size to Reach USD 454.3 Million in 2030 | Emergen Research
Increasing demand for biochar in the agricultural sector is a key factor driving revenue growth of the biochar market
August 17, 2023 09:33 ET
| Source: Emergen Research
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Vancouver, Aug. 17, 2023 (GLOBE NEWSWIRE) — The global biochar market achieved a USD 160.9 Million scale in 2021, and it is projected to exhibit a 12.1% compound annual growth rate (CAGR) in revenue over the forecast period, as analyzed by Emergen Research. The prevalent utilization of biochar in agriculture applications, along with its integration into animal feed and poultry farming within emerging economies, is anticipated to sustain the upward trajectory of market revenue. Biochar finds its application in enhancing both the physical and chemical attributes of soil for agricultural purposes. Its application contributes to heightened agricultural productivity and improved crop development, while simultaneously mitigatin greenhouse gas emissions. Notably, biochar possesses the unique capability to retain subsurface water in soil.
Furthermore, the adoption of biochar results in improved crop and plant outcomes by reducing nutrient loss from crop root zones and curbing fertilizer demands. This, in turn, fosters increased land cultivation, owing to the soil pH-balancing effects of biochar on acidic soils, consequently bringing them closer to a neutral pH level. Governments in developing nations are actively endorsing biochar as a strategic measure to diminish the release of greenhouse gases such as nitrous oxide and methane.
The emphasis on organic waste-derived biochar is poised to be a significant driver for the biochar market’s revenue expansion throughout the forecast period. This particularly pertains to its role in augmenting biomass yield through enhanced soil quality and effective pollution remediation strategies.
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The biochar market’s revenue expansion is set to receive a significant impetus from large-scale manufacturing initiatives and the adherence to stringent environmental regulations throughout the projected period. In addition to these factors, the manifold benefits inherent to biochar are steering the course of global revenue growth. The capacity to enhance soil fertility, elevate plant growth, and augment crop yields contributes significantly to the upward trajectory of the biochar market’s revenue.
However, certain constraints are expected to temper the pace of market growth. These include the substantial costs associated with pyrolysis equipment, limited awareness regarding the economic advantages of the product, and the absence of suitable technology for the synthesis of low-emission char. These factors collectively act as inhibitors to the unfettered expansion of the biochar market.
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Scope of Research
Report Details Outcome
Market size in 2021 USD 160.9 Million
CAGR (2022–2030) 12.1%
Revenue forecast to 2030 USD 454.3 Million
Base year for estimation 2021
Historical data 2021–2030
Forecast period 2022–2030
Quantitative units Revenue in USD Billion and CAGR in % from 2022 to 2030.
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends.
Segments covered Technology, Application, and region.
Regional scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa.
Country scope U.S., Canada, Mexico, Germany, U.K., France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, Rest of MEA.
Key companies profiled Agri-Tech Producers, LLC, Diacarbon Energy Inc., Biochar Products, Inc., Phoenix Energy Group, BIOCHAR INNOVATINS PTE LTD, Bioforcetech Corp., Airex Énergie Inc., Aries Clean Technologies, Mai Animal Health, and Wakefield Biochar.
Customization scope 10 hours of free customization and expert consultation.
Major Companies and Competitive Landscape
The global biochar market is fairly consolidated, with few large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective biochar products. Some major companies included in the global biochar market report are:
Agri-Tech Producers, LLC
Diacarbon Energy Inc.
Biochar Products, Inc.
Phoenix Energy Group
BIOCHAR INNOVATIONS PTE LTD
Bioforcetech Corp.
Airex Énergie Inc.
Aries Clean Technologies
Mai Animal Health
Wakefield Biochar
Strategic Development
On 11 November 2021, Vale SA announced a 60-70 million Chinese Yuan investment in China Baowu Steel Group Corp. Ltd.’s pilotbiochar project. Under the provisions of the MOU, the parties agreed to collaborate to develop steelmaking technologies that reduce greenhouse gas emissions.
On 18 June 2021, Wakefield Biochar signed an agreement with a wholly-owned subsidiary of Vow ASA to develop an industry-scale bio green system at Wakefield’s factory in Valdosta, Georgia, USA. Drying equipment, biochar synthesis using patented Bio green technology, and the conversion of CO2 neutral syngas into electricity for biomass drying are all part of the USD 5.15 million turnkey systems that Vow will deliver and commission in 2022.
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Some Key Highlights From the Report
During the forecast period, the gasification segment is expected to register a rapid revenue growth rate, as adoption of gasification technology has increased significantly in response to rising requirement for power generation. Gasification tecnology is gaining popularity in the industry owing to less emissions and pollutants into the atmosphere.
North America market revenue is expected to register a faster growth rate than other regional markets throughout the forecast period owing to increased demand for organic foods. Biochar is increasingly utilized in poultry farms to reduce odors generated by litter and ammonia. It absorbs liquids, gases, and ammonia to eliminate odors. Furthermore, increasing number of small and large-scale manufacturing firms is expected to drive market revenue growth to some extent.
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Emergen Research has segmented the global biochar market on the basis of technology, application, and region:
Technological Outlook (Revenue, USD Million; 2019–2030)
Pyrolysis
Gasification
Others
Application Outlook (Revenue, USD Million; 2019–2030)
Agriculture
Livestoc
Organic Farming
Inorganic Farming
Regional Outlook (Revenue, USD Million; 2019–2030)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
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