What is the global market size of Biochar Market?

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).

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

Report ID: SQMIG15C2016 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 92 | Figures: 75

Global Biochar Market Insights

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.

Global Biochar Market Report Snapshots

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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. 'Airex Energy Incorporation', 'Cool Planet Energy Systems', 'Pacific Pyrolysis Pty Ltd', 'Agri-Tech Producers LLC', 'Genesis Industries LLC', 'Full Circle Biochar', 'The Biochar Company', 'Earth Systems Bioenergy', 'Phoenix Energy', 'Chargrow LLC', 'Biochar Now LLC', 'Green Charcoal International', 'Clean Fuels B.V.', 'Biochar Products Inc.', 'Carbofex BV', 'Agri-Tech Producers', 'Pacific Biochar Benefit Corporation', 'Biochar Supreme LLC', 'Sonnenerde GmbH'

Players are developing novel initiatives to hold their market position and to create awareness among people to use biochar. In 2019, an NGO called African Soils launched an initiative to raise awareness among the natives regarding the benefits of biochar. Companies such as Phoenix Energy, Pacific Pyrolysis, 3R ENVIRO Tech Group, and Cool Plant Power Systems Inc. are providing pyrolysis technology to produce energy solutions. Through this, they intend to gain a competitive advantage.

Environment-conscious consumers are now using organic products in every aspect of their lives, and therefore they have seen the benefits that come with the use of biochar. This trend will further boost market growth. Biochar used in waste management will also lead to positive market growth. There are now numerous companies that produce biochar.

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

Global Biochar Market Insights

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