Biochar Market by 2024 - Top Companies, Trends and Future Prospects Details for Business Development
According to the latest report by IMARC Group titled, “Biochar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market reached a value of US$ 436.4 Million in 2018. Looking forward, the global biochar market to reach a value of US$ 870.7 Million by 2024, registering a CAGR of around 12 % during 2019-2024.
Biochar refers to a type of carbon-rich charcoal that is produced by the heating of agricultural waste, animal manure, and woody biomass. It helps in improving soil fertilization, maintaining adequate moisture levels, reducing pollutants, providing crop nutrition, and preventing soil leaching. Owing to various technological innovations, such as gasification and pyrolysis, biochar finds extensive applications across various industries, including pharmaceuticals and agriculture.
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The prevalent trend of organic farming has stimulated the utilization of biochar in mixed farming, biodynamic agriculture, and zero tillage farming methods. In line with this, the rising health consciousness and escalating consumer expenditures on high-quality, organic food items have bolstered the market growth. Moreover, the thriving electronics industry is positively influencing the demand for biochar in the manufacturing of building materials. Apart from this, the increasing awareness about waste management, coupled with various stringent environmental regulations for minimizing carbon footprints, is expected to fuel the growth of the global biochar market in the coming years.
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Key Market Segmentation
Breakup by Feedstock Type
1. Woody Biomass
2. Agricultural Waste
3. Animal Manure
4. Others
Breakup by Technology Type
1. Slow Pyrolysis
2. Fast Pyrolysis
3. Gasification
4. Hydrothermal Carbonization
5. Others
Breakup by Product Form
1. Coarse and Fine Chips
2. Fine Powder
3. Pellets, Granules and Prills
4. Liquid Suspension
Breakup by Application
1. Farming
2. Gardening
3. Livestock Feed
4. Soil, Water and Air Treatment
5. Others
Breakup by Region
1. North America
2. Europe
3. Asia Pacific
4. Middle East and Africa
5. Latin America
Competitive Landscape
The report has also analysed the competitive landscape of the market with some of the key players being Agri-tech Producers, Diacarbon Energy Inc., Cool Planet, Pacific Biochar, Phoenix Energy, Biomacon GmbH, Vega Biofuels, Terra Char, Avello Bioenergy, Genesis Industries, Interra Energy Services, Element C6, Carbon Gold Ltd., Biochar Solution Ltd., etc.
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