Biochar Market Size, Share, Growth Analysis, By Feedstock(Woody Biomass, Agricultural Waste, Animal Manure, Others), By Technology(Pyrolysis, Gasification, Others), By Application(Electricity Generation, Agriculture, Forestry, Others), By Region - Industry Forecast 2024-2031

Biochar Market size was valued at USD 204.6 million in 2019 and is poised to grow from USD 231.4 million in 2023 to USD 700.7 million by 2031, growing at a CAGR of 13.1% in the forecast period (2024-2031).

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.