Major wood vinegar market participants include TAGROW, New Life Agro, Fraunhofer UMSICHT, Win-Win Chemical, Limited, Canada Renewable Bioenergy, DL Chemicals, Svenska Skogsprodukter, Korean Natural Farming, Byron Biochar, Canada Wood, Dongying Runying Chemical, EmTech Ventures, Weyerhaeuser Company, Nettenergy B.V., and Barbe Green Forest Corporation.
Selbyville, Delaware,, Sept. 25, 2023 (GLOBE NEWSWIRE) —
The wood vinegar market valuation is anticipated to cross USD 10.5 billion by 2032, as reported in a research study by Global Market Insights Inc.
The rising awareness of sustainable agricultural practices has led to the increased adoption of wood vinegar as an eco-friendly soil conditioner and biopesticide. Farmers worldwide are recognizing the benefits of wood vinegar in enhancing crop yield and reducing the reliance on chemical fertilizers and pesticides. Moreover, the product’s antimicrobial and antioxidant properties make it a valuable ingredient in various products. The epanding applications of wood vinegar in diverse industries, such as agriculture, food processing, and cosmetics, is fueling market growth.
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The wood vinegar market share from coconut shell source segment has gained considerable traction and will continue to grow in the coming years due to the abundance of coconut shells, especially in tropical regions. Coconut shell-based wood vinegar is known for its high quality and purity. The unique properties of wood vinegar derived from coconut shells make it an ideal choice for agricultural applications, contributing to soil improvement and pest control. Its popularity in organic farming practices is on the rise, making the coconut shell source segment a significant contributor to the market size.
The fast pyrolysis segment is estimated to witness notable growth over 2023 and 2032. The environmental sustainability of fast pyrolysis, its verstility in agriculture, and the ongoing research to optimize the process underscore its vital role in the wood vinegar market. This process efficiently yields wood vinegar, along with biochar and bio-oil, making it a sustainable and environmentally friendly production technique. Fast pyrolysis ensures high-quality wood vinegar with enhanced bioactive properties, driving its adoption in various industries, including agriculture and healthcare.