USD 204.6 million
Report ID: SQMIG15C2016 | Region: Global | Published Date: October, 2022 | Pages: 157 | Tables: 92 | Figures: 75
Biochar Market size was valued at USD 204.6 million in 2021 and is poised to grow from USD 231.4 million in 2022 to USD 700.7 million by 2030, growing at a CAGR of 13.1% in the forecast period (2023-2030).
Biochar refers to charcoal that is extracted with the help of biomass from agricultural waste. It reduces pollutants and toxic elements and prevents reducing moisture levels, soil leaching, and fertilizer runoff. Thus, environmental awareness among consumers drives the Biochar Market growth. Heavy collaboration among players, especially in the rural areas of emerging economies is also likely to drive the market. These players use various technologies to produce biochar, and among these technologies, pyrolysis is the most preferred as it is efficient and effective. The revenue growth of this technology market will expand by 14% between 2022-2028. This technology is mainly used on a large in the Asia Pacific region.
The use of biochar in the water treatment process is projected to be another key use in the near future backed by increased demand for water treatment facilities, especially in emerging nations. Moreover, the manufacturing of biochar utilizing biogas and crop residue is likely to support market growth throughout the forecast period.
US Biochar Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 204.6 million
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The Global Biochar Market is segmented based on Technology, Application, Feedstock type, and Region. Based on Technology Biochar Market is categorized into: Pyrolysis, Gasification, Others. Based on Application Biochar Market is categorized into: Agriculture, Livestock, Farming, Industrial use, Others. Based on Feedstock type Biochar Market is categorized into: Agricultural Waste, Animal Manure, Forestry waste, others. Based on region Biochar Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Biochar Market Analysis by Technology
Pyrolysis segment has dominated the market, accounting for more than 37.3% of revenue in 2021. Among the different manufacturing technologies available, pyrolysis is the most efficient production process. Due to the high end-product output of high carbon content and the process's reliability, it is predicted to grow at a CAGR of 13.8% in terms of revenue during the forecast period. The increased demand for power has resulted in a moderate increase in the utilization of gasification technology. The technique is likely to lose market share over the forecast period since it does not produce stable biochar that can be used in agricultural applications. Small producers employ additional industrial methods to increase profits, such as hydrothermal carbonization, acid hydrolysis, and cooking stove.
Biochar Market Analysis by Application
Agriculture applications accounted for more than 60% of total biochar consumption in 2021. Biochar improves soil biological productivity and increases water and nutrient holding capacity, which aids in crop nutrition and growth. However, a substantial percent of farmers are still unaware of the product's benefits. General farming is a major segment in agricultural applications that is predicted to grow significantly and augment total market demand as a result of increased awareness among farmers by research groups and institutes.
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Asia Pacific has dominated the market, accounting for more than 27.5% of revenue in 2021. Regenerative agriculture is becoming increasingly popular in Asia-Pacific, since it improves soil biology, enhances fertility, and improves watersheds while absorbing carbon to mitigate the effects of climate change. Furthermore, with the growing need for quality food and the majority of the people being drawn to diverse organic crop foods in China, India, and Indonesia, the demand for biochar in various farming operations is increasing.
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Biochar Market Driver
Biochar Market Restraint
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BSEI, Airex Energy Inc., and Diacarbon Energy are key stakeholders in the Biochar manufacturing process. Several key institutes are engaged in an innovation program, Aberystwyth University, Massey University, the Federal Rural University of the Amazon, and the University of East Anglia are just a few of the research institutions involved in biochar production and R&D. The market is still at a nascent stage of development, and therefore it will take some time for full market penetration by new players. There are small and large players in the market that are collaborating and launching new and better products. Furthermore, to maintain market share and diversify product portfolios, major players frequently pursue strategies such as mergers and acquisitions, partnerships, and new product launches.
Biochar Market Top Players Company Profiles
Biochar Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, Agriculture application dominated the Biochar market, accounting for more than 60% of global biochar consumption in 2021. Asia Pacific dominated the market in 2021, accounting for more than 27.5% of total revenue. Regenerative agriculture is gaining popularity in Asia-Pacific because it improves soil biology, fertility, and watersheds while also absorbing carbon to alleviate climate change consequences.
|Market size value in 2021||USD 204.6 million|
|Market size value in 2030||USD 700.7 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Biochar Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Biochar Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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