Biochar Market Analysis, Industry Growth, Size, Share, Drivers and Opportunities Forecast by 2023
The global biochar market reported an estimated value of $4.27 million in 2015. As per the latest findings, it may record a CAGR of 17.1%, during 2015 – 2023. Majorly, the market is witnessing a leap owing to improved soil fertility, natural carbon sequestration feature of biochar, waste management potential, and increased government initiatives. Stringent environmental regulations also act as a major driver for the growth of the global biochar market.
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Among all other applications, agricultural segment is witnessing a strong growth rate in the global biochar market, since biochar helps improve soil quality and crop yield. Chemical fertilizers are largely used in agriculture, which lead to decline in agricultural land per capita as well as in soil quality.
In 2015, North America was geographically the largest biochar market. Due to growing demand for agricultural products and enhancement in soil fertility and crop yield, the North American market for biochar has been witnessing significant growth.
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Some of the key companies in the global biochar market include Biochar Products Inc., Diacarbon Energy Inc., Agri-Tech Producers LLC, Genesis Industries, Green Charcoal International, Vega Biofuels Inc., The Biochar Company, Cool Planet Energy Systems Inc., Full Circle Biochar, and Pacific Pyrolysis Pty Ltd.
GLOBAL BIOCHAR MARKET SEGMENTATION
By Application
- Gardening
- Agriculture
- Household
By Feedstock
- Agriculture Waste
- Forestry Waste
- Animal Manure
- Biomass Plantation
By Technology
- Microwave Pyrolysis
- Batch Pyrolysis Kiln
- Continuous Pyrolysis
- Gasifier and Cookstove
- Others
By Manufacturing Process
- Gasification
- Fast and Intermediate Pyrolysis
- Slow Pyrolysis
- Others
GEOGRAPHICAL SEGMENTATION
By Region
- North America
- Europe
- Asia-Pacific
- Rest of the World (RoW)
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