According to the latest report published by Variant Market Research, the global biochar market size is estimated to reach $17,050 thousand by 2024 from $5,154
thousand in 2016, growing at a CAGR of 16.1% from 2016 to 2024.
Biochar’s
natural carbon sequestration feature to drive the global biochar market
The market is majorly driven
by factors such as stringent environmental regulations,
biochar’s natural carbon sequestration feature, and waste management potential. Moreover, increasing government initiatives in countries such as China, Australia, New Zealand, Philippines, and Ghana are expected to show
increased biochar market trend over the coming years. Though, high cost, and lack
of consumer awareness may hamper the market
growth. Furthermore, growing
biofuel industry and developing economies would provide several growth
opportunities for the market in the future years.
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Market
Segmentation
The global biochar market is classified into feedstock,
technology, application and geography. Feedstock segment comprise animal manure, forestry waste, agriculture
waste, and biomass plantation. Batch pyrolysis kiln, microwave pyrolysis,
continuous pyrolysis kiln, gasifier and cookstove, and other technologies, are
various classifications of the technology segment. Application segment includes gardening,
agriculture, and household. North America
(U.S., Mexico, and Canada), Europe (France, Germany, UK, and Rest of Europe),
Asia-Pacific (China, India, and Rest of Asia-Pacific) and RoW (Middle East,
South America, and Africa) are the key geographical regions included in this
market.
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Table of Content (TOC) @ https://www.variantmarketresearch.com/report-categories/energy-mining/biochar-market/toc
Forestry
Waste, by feedstock, is estimated to dominated the global market in coming
five to six years
Forestry waste held for the largest market share in 2016, and projected to
continue its dominance over the forecast period, 2016 – 2024. It’s extensive
demand in biofuel production has supplemented the growth across different
applications.
Gardening
dominated the application segment throughout the forecast period
Gardening dominated the
application segment throughout the forecast
period 2016 – 2024. High usage of biochar in gardening, to enhance soil
fertility & plant growth has fuelled its demand in this application area.
North America
dominated the market from 2016 to 2024
Surge in demand for
agricultural products and improvement in soil fertility has fuelled the growth
of biochar market in North America. The region generated maximum revenue of the
global market in 2016, as it has high consumption of chemical fertilizers,
deforestation & mining, which has led to the deprivation of its soil
quality. Hence, the region
has high biochar market growth in the future years.
Competitive
Landscape
The market comprises major competitors such as Cool Planet Energy Systems, Pacific
Biochar, Genesis Industries LLC, Earth Systems Bioenergy, Char Grow, LLC, Vega
Biofuels, Inc., Pacific Pyrolysis Pty Ltd., Dicarbon Energy Inc., Biochar
Supreme LLC, and Phoenix Energy, among others.
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Scope of the Global Biochar Market
Feedstock Segments
Technology Segments
Application Segments
Geography Segments
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