Global Biochar Market is valued at approximately USD 0.19 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 13.2% over the forecast period 2022-2029. Biochar refers to a charcoal-like material and it is produced from plant materials including grass, agricultural and other forest residues which are degraded at high temperatures, in renewable energy production. During the process, the physical and chemical properties of the plant material change into a highly porous, stable, carbon-rich material known as biochar. it has a wide range oapplicationson across different industries such as it is used to improve soil health and remove toxic metals and organic contaminants in soil and water. The increasing expansion of the water and Wastewater treatment industry and growing adoption of Biochar as an animal feed additive as well as strategic initiatives from leading market players are key factors accelerating the market growth.
The increasing application of Biochar in the treatment of wastewater is contributing to the growth of the Global Biochar Market. For instance, according to Statista - in 2021, the global water and wastewater treatment market was estimated at USD 281.75 billion, and the market is projected to reach a value of approximately USD 490 billion by 2029, witnessing a CAGR of 7.1 per cent during the forecast period of 2022 to 2029 period. Also, the rising expansion of the construction sector and increasing number of R&D activities would create a lucrative growth prospectus for the market over the forecast period. However, the high cost associated with Biochar production impedes the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Biochar Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of market share owing to the presence of leading market players and the growing expansion of industrial water treatment activities in the region. Whereas the Asia Pacific is expected to grow with the highest CAGRduring the forecast period, owing to factors such as the rising number of favorable initiatives from government authorities to treat wastewater and growing demand for animal feed additives in the region.
Major market players included in this report are:
Airex Energy inc.
ArSta Eco Pvt Ltd.
Coaltec Energy USA
Farm2Energy Pvt. Ltd.
Frontline BioEnergy LLC
KARR Group Co. (KGC)
Pacific Biochar Benefit Corporation
Recent Developments in the Market:
In January 2022, Ag Energy Solutions Inc., a Spokane-based agricultural renewable technology company, has been acquired by Pullman, Washington-based plant, and tree fruit producer NuPhy Inc.
Global Biochar Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Production Technology, Application, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Production Technology
Rest of the World