The Biochar market is projected to reach US$ 368.85 million by 2028 from US$ 177.06 million in 2021. It is expected to grow at a CAGR of 11.1% from 2021 to 2028.
The growing feedstock industry increases the demand for biochar. The feedstock can be categorized as woody biomass, agricultural waste, and animal manure. Agricultural waste, such as corn, rice, and fruit peels, and wood from forests, is a feedstock used to produce biochar. Furthermore, biochar is produced from original materials, such as wastewater sludges and microalgae. It is also being used to feed animals. A feedstock is the raw material used for processing or manufacturing another product. The feedstocks such as Crude oil, corn, soyabean oil used to produce gasoline, and ethanol, which is used to create biodiesel. Therefore, the flourishing feedstock industry is favoring the growth of the global biochar market.
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Biochar is charcoal or high-carbon, the fine-grained residue produced via pyrolysis. Biochar is used as a soil conditioner and fed to animals. Biochar is a stable solid rich in carbon and can abide in soil for thousands of years. Biochar offers multiple soil health benefits. It promotes good soil and plants health. Biochar reduces leaching of E-coli through sandy soils depending on application rate, feedstock, pyrolysis temperature (i.e. 300-700C), soil moisture content, soil texture, and surface properties of the bacteria. Biochar can improve yield for plants that require high potash and elevated pH. Biochar can enhance water quality reduce soil emissions of greenhouse gases, nutrient leaching, soil acidity, irrigation and fertilizer requirements. Under certain circumstances, biochar induces plant systemic responses to foliar fungal diseases and improves plant responses to infections caused by soil-borne pathogens. These associated benefits of biochar bolstered the demand for biochar in the agriculture industry.
Based on feedstock, the biochar market is segmented into woody biomass and agricultural waste, animal manure, and other feedstock. The woody biomass and agricultural waste segment accounted for the largest market share in 2020. Biochar is made using forest waste, agricultural waste, urban green waste and is highly adopted to be used for the production of energy. There are two most adopted processes for production of Biochar namely pyrolysis and gasification. Biochar is a carbon-rich and porous material obtained in pyrolysis of biomass. During the production of biochar, pyrolysis gases are considered as an energy source. Also, gasification is an effective conversion process that converts biomass into energy fuel while producing biochar as a byproduct. Production of Biomass through gasification and pyrolysis production systems creates energy and soil additives. Biochar made with cogeneration of electricity especially in rural regions can lead to regional development and energy production.
Based on geography, the biochar market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). Asia Pacific accounted for the largest share of the market. China, India, and the Rest of APAC are the key contributors to the biochar in this region. Moreover, the presence of leading companies such as Carbon Gold Ltd; Genesis Industries; Black Owl Biochar, and Biochar Now, LLC is driving the growth of the market across the region.
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Some of the major key players operating in the global biochar market include Airex Énergie Inc.; Genesis Industries; Carbon Gold Ltd; Black Owl Biochar; Biochar Now, LLC; Phoenix Energy; American BioChar Company; BioForceTech Corporation; Ecoera, and Pyropower. The major players in the biochar market are focusing on strategies such as research and development and new product development to increase the geographical presence and consumer base globally.
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