Wilmington, Delaware, United States, Oct. 31, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Biochar is primarily created using various biomass waste materials. These include residues of crops, such as pits of fruits, husks of rice and wheat, shells of nuts, as well as other biomass products, such as animal manure. Growing demand for electricity, as well as increasing demand for energy generation through renewable sources, such as biomass products, is positively affecting growth in the global Biochar Market. Some other notable drivers for the industry include increasing funding by industry players on research and development to create new types of formulations and more effective products, as well as the ability of biochar to reduce soil erosion when mixed in farming soil. As per a recent business intelligence report, the global Biochar Market is anticipated to record a CAGR of 15.35 % over the forecast period of 2021 to 2031.
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Biochar Market – Key Findings of the Report
- Applications in Agriculture: Adding biochar to the soil can help in boosting its organic matter content and enhance the fertility of the soil. Adding products in the global Biochar Market to farming soil helps in enhancing its texture, make it even more porous, provide good structure, and enhance its density. It is anticipated that more area and higher the porosity offered by adding biochar to soil can aid in offering habitable space for essential microorganisms that aid in improving the quality of soil. Furthermore, adding biochar to the soil can also enhance the water quality in soil, and boost the rate and quantity of crop yields. Apart from this, products in the global Biochar Market also aid in increasing retention of water in the soil and reduce the requirement of using high quantities of fertilizers.
- Rising Demand for Electrical Energy: Growing global population, increasing trends of industrialization, and growing number of consumer electronic devices are creating a growing need for electricity. To meet this rising demand, countries across the world are focusing on adopting renewable sources of energy to produce or generate electricity. The demand for biochar, being one of the key sources for renewable energy, is consistently rising. This trend is most likely to bolster growth in the global Biochar Market in coming years. Furthermore, environmentally friendly and low in carbon nature of biochar also makes it one of the most promising sources for renewable energy generation in the world.
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Biochar Market – Growth Drivers
- Environmental advantages and benefits associated with the use of biochar fuel growth within the global Biochar Market
- Rapid urbanization and industrialization trigger increased demand for energy, stimulate growth in the market
- Increasing demand for renewable sources of energy propel expansion of the global Biochar Market
Biochar Market – Key Players
- Some of the prominent manufacturers and companies operational in the global Biochar Market include Black Owl Biochar, Airex Energie Inc., American BioChar Company, ECOERA, ETIA S.A.S., Genesis Industries, Biochar Now, Phoenix Energy, Bioforcetech Corporation, and Pyropower, among others. Leading wind turbine providers, including Black Owl Biochar, Biochar Now, and Genesis Industries are engaged in technologically advancing their manufacturing processes of producing biochar in a bid to attract a larger base of consumers. Companies in the market are also engaged in building reactors directly at farms to encourage farmers to adopt various advanced technologies.
Biochar Market: Regional Growth Assessment
- Asia Pacific held a dominant share of the global Biochar Market in 2021. Rising use of biochar products with animal manure to control the loss of nutrients in arable land is one of the key drivers for growth in Asia Pacific region. Furthermore, increasing demand from North America is also estimated to aid in the expansion of the global Biochar Market in near future.
Biochar Market: Segmentation
Biochar Market, by Feedstock
- Woody Biomass
- Agricultural Waste
- Animal Manure
- Others (including Biomass Plantation and Forestry Waste)
Biochar Market, by Technology
- Pyrolysis
- Gasification
- Others (including Flash Carbonization)
Biochar Market, by Application
- Electricity Generation
- Agriculture
- Forestry
- Others (including Waste Management, Soil Amendment, Gardening, Climate Change Mitigation, Horticulture, and Composting)
Biochar Market, by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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