A11816 | Pages: 215 | Jan 2022 | 3603 Views | ||
Author(s) : Nikhil Mittal , Eswara Prasad | Tables: 140 | Charts: 47 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Biochar Market
Request Now !The global biochar market was valued at $170.9 million in 2020, and is projected to reach $587.7 million by 2030, growing at a CAGR of 13.2% from 2021 to 2030.
Statement for COVID-19 banner: The biochar market has been negatively impacted due to the wake of COVID-19 pandemic owing to its dependence on agriculture, building & construction, and other sectors. According to a survey conducted by Food and Agriculture Organization of United Nations (FAO), small scale producers have faced severe challenges accessing inputs such as seeds and fertilizers owing to increased prices.
Biochar is a charcoal, mainly produced from pyrolysis of biomass in an oxygen-free atmosphere. It is carbon-rich sustainable solid material that is widely used in soil amendment applications to enhance the soil quality, plant growth, and crop yield. In addition to this, it is also used as a prime animal feed supplement to stimulate digestion, toxin adsorption, nutrition intake efficiency, and blood values in cattle (cows and goats).
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Increasing population has surged the demand for crops, which in turn has led the farmers to become more linear toward using biochar for increasing their crop yield. This may act as one of the key drivers for the growth of the biochar market during the forecast period. In addition, biochar supplementation has shown positive response in animal feeding such as cattle, goats, chicken, pigs, and fish. It is used as a feed additive in several ruminants (cattle and goats) to improve blood profiles, growth performance, and ability to resist pathogens. Moreover, it has high levels of calcium, potassium, and magnesium that reduce the incidence of cracked eggs in hens. These factors has surged the popularity of biochar in animal feeding; thus boosting the growth of the biochar market.
However, biochar production is a costly process as it requires various sophisticated and expensive pyrolysis equipment. Also, the pyrolysis gas obtained during biochar production is costly to store and transport as it requires oxygen-free atmosphere maintained at specific temperature. This restrains the manufacturers with less investment potential to enter into biochar market. This may hamper the growth of the biochar market.
On the contrary, increasing R&D activities have surged the potential applications of biochar in several end-use sectors. For instance, textile industry has started using biochar as fabric additive. Moreover, it is highly effective in dye adsorption from wastewater generated during textile washing. In addition, it is often used as additive in combination with clay, lime, and cement mortar for plastering bricks and concrete elements. These factors are anticipated to offer new opportunity in the global biochar market.
The global biochar market analysis is done on the basis of production technology, application, and region. Depending on production technology, the market is divided into pyrolysis, gasification, and others. On the basis of application, it is fragmented into soil amendment, animal feed, industrial, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in this report include Airex Energy Inc., ArSta Eco Pvt Ltd., Biochar Supreme, Coaltec Energy USA, Farm2Energy Pvt. Ltd, Frontline BioEnergy LLC, KARR Group Co. (KGC), Pacific Biochar Corporation, Phoenix Energy, and ProActive Agriculture.
The Asia-Pacific biochar market size is projected to grow at the highest CAGR of 13.8% during the forecast period and accounted for 70.2% of biochar market share in 2020. This is attributed to the rising livestock and agriculture sector which in turn has enhanced the performance of biochar in the Asia-Pacific region. For instance, according to a report published by a research journal named Science Advances, the number of livestock units in China tripled in the past 10 years. Also, countries such as India and Australia are witnessing a rapid increase in agriculture sectors where biochar is widely used for soil amendment purposes. For instance, according to a report published by India Brands Equity Foundation, the gross value added by agriculture, fishing, and forestry was estimated at $276.37 billion in 2020.
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In 2020, the pyrolysis segment was the largest revenue generator, and is anticipated to grow at a CAGR of 13.4% during the forecast period. This is attributed to the fact that pyrolysis is among the most commonly used method for producing biochar. Furthermore, it produces several other key components such as bio-oil and syngas that can be used as a prime energy source for power generation. This has led the manufacturers to become more linear toward using pyrolysis process for manufacturing biochar. This factor is escalating the growth of this segment in the global market.
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By application, the soil amendment segment dominated the global market in 2020, and is anticipated to grow at a CAGR of 13.5% during the forecast period. This is attributed to increase in government spending to promote agricultural activities in both developed and developing economies where biochar is widely used to enhance the soil fertility. In addition, increasing awareness among farmers for using sustainable products to enhance the soil quality and crop yield has surged the sales of biochar for soil amendment applications. These factors are augmenting the growth of the soil amendment segment in the global biochar market.
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Key Market Segments
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According to CXOs of leading companies, the global biochar market is expected to exhibit high growth potential. The addition of biochar in soil enhances soil nutrition, moisture retention, and microbial flora; thus increases the overall crop yield and productivity. Furthermore, it is increasingly used as a regular feed supplement to improve animal health, and nutrient intake efficiency. It gets enriched with nitrogen-rich organic compounds during the digestion process that enhances the toxin adsorption, digestion, and blood values in cattle.
In addition, biochar is employed as substitute over activated carbon for use in heating, ventilation, and air condition (HVAC) units and water treatment facilities. Also, factors such as increasing awareness for using sustainable products, easy availability, and novel inventions for application of biochar in several end-use industries may enhance the performance of biochar market.
The CXOs further added that sustained economic growth and the development of agriculture sector have surged the popularity of biochar.
A. The global biochar market is growing at a CAGR of 13.2% from 2021 to 2030.
A. The global biochar market was valued at $170.9 million in 2020, and is projected to reach $587.7 million by 2030, growing at a CAGR of 13.2 from 2021 to 2030.
A. The report sample for global biochar market report can be obtained on demand from the website.
A. Escalating demand from agriculture sector and increasing use of biochar in animal feeding are expected to drive the biochar market growth.
A. Airex Energy Inc., ArSta Eco Pvt Ltd., Biochar Supreme, Coaltec Energy USA, Farm2Energy Pvt. Ltd, Frontline BioEnergy LLC, KARR Group Co. (KGC), Pacific Biochar Corporation, Phoenix Energy, and ProActive Agriculture are the leading players in biochar market.
A. The company profiles of the top players of the market can be obtained from the company profile section mentioned in the report. This section includes analysis of top player’s operating in the industry along with their last three-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated.
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