Global biochar market is expected to reach around US $3.23 billion by the year 2026, demonstrating a 9.1 percent CAGR over the forecast timeline, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2019-2026.
Biochar, which is a pyrogenic black carbon product, has garnered immense attention in the academic as well as political arenas. Much of the attention the product has received is due to its capability to mitigate climate change, offer solutions for organic waste management, and provide food security. In the year 2018, the North America held the majority share in the global biochar market.
The application of the product to soil is gaining enormous interest around the world, given the product’s potential to improve the nutrient retention capacity of soil, along with its water holding capacity. Furthermore, it aids in sustainable storage of carbon, thereby reducing greenhouse gas emissions.
The report presents an extensive analysis of the worldwide biochar market, which examines the current market drivers, dynamics, and estimated future trends. The study elaborates market restraints and opportunities that affect the commercialization scope of the industry. The study further provides a detailed industry analysis including Porter’s five forces – bargaining power of buyer, bargaining power of supplier, threat of substitute, threat of new entrant, and degree of competition.
The report cites that commercialization of biochar in the form of a soil additive has not yet achieved its full potential among the farmers, who are the primary users. Many industry participants that manufacture biochar are currently focusing on arranging certain educational programs for farmers across geographies.
Speaking of the technology spectrum, the global biochar market is bifurcated into gasification, pyrolysis, and others. Reportedly, the pyrolysis technology segment led the market in terms of revenue in the year 2018. Based on the data compiled by the market researchers, the agricultural sector is the biggest consumer of biochar products, being fragmented into general farming (organic, inorganic, others) and livestock farming.
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The latest study enumerates different farming methods that include blending the product with seeds and fertilizers, application with no till systems, uniform mixing with soil, hoeing into ground, deep banding of soil with plow, applying compost and char on raised beds. The burgeoning use of these methods among farmers is expected to promote product application and enhance the overall demand.
The report also cites that Biochar applications have been surging due to their considerable environmental and agricultural contributions, yet there are certain controversial restrictive factors regarding the product. One of the primary concerns which might cause complete deforestation is the cutting of timber, which is a major feedstock of biochar. This would also compromise on the amount of rain that is beneficial for agriculture, which is why industry participants and government organizations, are looking to produce biochar from waste food, saw dust, rice straw, rice husk, empty fruit bunches, and more.
The global biochar market includes key players such as Swiss Biochar GmbH, Airex Energy, Biochar Industries, BlackCarbon A/S, Carbon Terra GmbH, Sunriver Biochar, Waste to Energy Solutions Inc., Carbon Gold, Biochar Ireland, Pacific Biochar Benefit Corporation, Clean Fuels B.V., Earth Systems PTY. LTD., 3R ENVIRO TECH Group, Biochar Supreme, ArSta Eco, Phoenix Energy, Pacific Pyrolysis, Vega Biofuels Inc., The Biochar Company, Diacarbon Energy Inc., Agri-Tech Producers, Biochar Products Inc., Cool Planet Energy Systems Inc., and others.