The latest report by IMARC Group, titled “Biochar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global biochar market size reached US$ 1.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.5 Billion by 2028, exhibiting a growth rate (CAGR) of 12% during 2023-2028.
Biochar Market
Biochar is a substance similar to charcoal that is produced through the pyrolysis of biomass in an oxygen-free environment. It is made from various sources such as grass, animal manure, agricultural and forest residue, bones, and wood waste. Biochar is specifically processed to minimize contamination and securely store carbon. It is lightweight, black, highly porous, and fine-grained, with a large surface area. As a natural product, it supports soil and plant health while minimizing negative environmental impacts.
In agriculture, biochar is used in fertilizers to enhance carbon sequestration in the soil and improve fertility. It isalso commonly used as a soil amendment to reduce pollutants and toxic elements, as well as decrease moisture levels, fertilizer runoff, and soil leaching. In addition to these applications, biochar is utilized in various farming practices like biodynamic agriculture, zero tillage, and mixed farming. Furthermore, biochar plays a role in heat and electricity generation, bio-oil production, and the production of wood vinegar. Its use in these areas helps reduce carbon emissions and waste. As a result, the horticulture, construction, electronics, metal processing, and food and beverage industries worldwide extensively employ biochar.
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Biochar Market Trends and Drivers:
The market for biochar is currently being driven by the growing utilization of biochar as a livestock feed. This application aims to stimulate digestion, improve nutrition intake efficiency, enhance toxin absorption, and improve bloo values. Additionally, there is an increasing demand for organic food products due to rising concerns about highly processed foods, artificial ingredients, pesticides, hormones, and antibiotics. This demand is further fueled by rapid urbanization and an increase in disposable income levels among individuals. Moreover, major players in the industry are investing in research and development (R&D) activities to introduce high-quality biochar products.
Furthermore, these players are also focusing on using biochar for dye adsorption from wastewater generated during textile washing, which contributes to the market’s growth. Additionally, the growing environmental awareness among the public and the cost-effectiveness of raw materials used in biochar production are driving market growth. Moreover, as a cost-effective solution, biochar can be used to produce heat as a form of renewable energy, which contributes to a positive market outlook. Additionally, governments in various countries areimposing stringent regulations to reduce greenhouse gas emissions. The increasing demand for biochar in the agriculture industry to enhance crop yield is also bolstering market growth.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Feedstock Type:
Woody Biomass
Agricultural Waste
Animal Manure
Others
Breakup by Technology Type:
Slow Pyrolysis
Fast Pyrolysis
Gasification
Hydrothermal Carbonization
Others
Breakup by Product Form:
Coarse and Fine Chips
Fine Powder
Pellets, Granules and Prills
Liquid Suspension
Breakup by Application:
Farming
Gardening
Livestock Feed
Soil, Water and Air Treatment
Others
Breakup by Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Competitive Landscape
Agri-tech Producers
Diacarbon Energy Inc.
Cool Planet
Pacific Biochar
Phoenix Energy
Biomacon GmbH
Vega Biofuels
Terra Char
Avello Bioenergy
Genesis Industries
Interra Energy Services
Element C6
Carbon Gold Ltd.
Biochar olution Ltd.
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