Biochar Market

Biochar Market Research, 2031

The global biochar market was valued at $204.6 million in 2021, and is projected to reach $695.1 million by 2031, growing at a CAGR of 13.1% from 2022 to 2031.

Report Key Highlighters 

• The report provides competitive dynamics by evaluating business segments, product portfolios, target market revenue, geographical presence and key strategic developments by prominent manufacturers. 

• The biochar market is consolidated in nature among companies such as include Pacific Biochar Production, Karr Group Co. (KGC), Proactive Agriculture, Airex Energy Inc., Coaltec Energy USA, Arsta Eco Pvt Ltd, Biochar Supreme, and Carbofex Ltd.  

• The study contains qualitative information such as the market dynamics (drivers, restraints, challenges, and opportunities), key regulation analysis, pricing analysis, and Porter’s Five Force Analysis across North America, Europe, Asia-Pacific, LAMEA regions. 

• Latest trends in global biochar market such as product development, undergoing R&D activities, and government initiatives are analyzed across 19 countries in 4 different regions.‐¯ 

• More than 2,000 biochar-related product literatures, industry releases, annual reports, and other such documents of key industry participants along with authentic industry journals and government websites have been reviewed for generating high-value industry insights for global biochar market. 

The proliferating livestock activities coupled with rise in demand for dairy products in countries such as China and India have boosted the growth of the livestock sector where biochar is used as a prime feed supplement. This may fuel the growth of the biochar market.

Biochar is a charcoal produced from the pyrolysis of biomass in the absence of oxygen. It is porous and carbon rich solid that possesses cation exchange capacity (CEC). It is widely used in soil amendment applications to enhance the soil quality, and plant nutrition. In addition to this, it is used as a prime animal feed supplement to enhance the digestion, blood formation, and nutrition intake efficiency of cattle.

Factors such as a growing population, expanding manufacturing industry, urbanization, and regulatory requirements have led the water treatment sector to witness a significant growth. Furthermore, the increase in scarcity of portable water has surged need for water treatment activities. According to a report published by United Nations Children's Fund (UNICEF), around 700 million people could be displaced by intense water scarcity by 2030.

Moreover, the increase in incidence of water borne diseases such as cholera, diarrhea, typhoid, amebiasis, hepatitis, gastroenteritis, giardiasis, campylobacteriosis, scabies, and worm infections have fueled water treatment activities where biochar is used as an adsorbent to remove different pollutants in water and wastewater. Furthermore, biochar is widely used in water and wastewater treatment activities owing to its distinctive characteristics such as adsorption capacity, specific surface area, microporosity, and ion exchange capacity. This factor may fuel the demand for biochar in the growing water treatment sector; thus, boosting market growth.

Moreover, one of the greatest advantages of biochar is that it can be manufactured from renewable sources such as biomass. The common feedstocks used for the production of biochar are plant and animal biomass such as residential plant trimmings, food processing residues, or forestry cuttings. These are easily available in almost every geographical region across the globe. Hence, the crude oil price fluctuation in the global market does not affect the growth of the biochar industry.

However, biochar has several disadvantages such as loss of land due to erosion, soil compaction during biochar application, reduction of worm life rate, and reduced efficacy of pesticides. These factors are expected to hamper the market growth.

On the contrary, companies are moving toward sustainable and eco-friendly alternatives for developing and strengthening their brand image with rise in environmental concerns among consumers. Moreover, government of both developed and developing economies such as the U.S., China, India, and others are constantly engaged in promoting the use of sustainable products. Thus, the increase in corporate social responsibility (CSR) activities of the companies is projected to fuel the utilization of biochar and promote the investor’s interest toward the biochar industry.

The biochar market is segmented on the basis of production technology, application, and region. On the basis of production technology, the market is categorized into pyrolysis, gasification, and others. On the basis of application, it is divided into soil amendment, animal feed, industrial, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

In 2021, the pyrolysis segment was the largest revenue generator, and is anticipated to grow at a CAGR of 13.3% during the forecast period. The increase in global energy need has led the power generation sector to focus on sustainable energy source, where biochar is widely used in producing renewable energy. For instance, according to a report published, the International Energy Agency (IEA) in 2021, renewable electricity generation in 2021 expanded by 8% and reached 8,300 TWh, which is the fastest year-on-year growth since 1970s. This may act as one of the key drivers responsible for the growth of the biochar market in the growing power generation sector.

By application, the soil amendment application segment dominated the global market in 2021 and is anticipated to grow at a CAGR of 13.4% during forecast period. The increase in government spending to promote agricultural activities in both developed and developing economies has led the agricultural sector to witness a significant increase in demand where biochar is widely used to enhance the soil fertility. This may act as one of the key drivers responsible for the growth of the biochar market.

The Asia-Pacific biochar market size is projected to grow at the highest CAGR of 13.2% during the forecast period and accounted for 69.2% of biochar market share in 2021. The expansion in livestock, agriculture, and industrial sectors have enhanced the performance of biochar market in Asia-Pacific.

The global biochar market profiles leading players that include FARM2ENERGY Private LIMITED, Pacific Biochar Production, Karr Group Co. (KGC), Proactive Agriculture, Airex Energy Inc., Coaltec Energy USA, Frontline Bioenergy Ltd., Arsta Eco Pvt Ltd, Biochar Supreme, Carbofex Ltd. The global biochar market report provides in-depth competitive analysis as well as profiles of these major players.

IMPACT OF COVID-19 ON THE GLOBAL BIOCHAR MARKET

• The biochar market had been negatively impacted due to the wake of COVID-19 pandemic owing to its dependence on livestock, industrial, building & construction, metal processing, and other sectors. According to a report published by the Organization for Economic Co-operation and Development (OECD), the decreased consumer demand has put downward pressure on the prices and production of soil conditioners. This factor has hampered the demand for biochar during the pandemic period.
• However, factors such as rise in awareness for eco-friendly activities coupled with increase in corporate social responsibility (CSR) for promoting sustainable products may surge the utilization of biochar among several end use sectors: thus, boosting the market growth.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the biochar market analysis from 2021 to 2031 to identify the prevailing biochar market opportunities.
• Market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• An in-depth analysis of the biochar market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes an analysis of the regional as well as global biochar market trends, key players, market segments, application areas, and market growth strategies.

 Biochar Market Report Highlights