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2021
Wood Vinegar Market

Wood Vinegar Market by Pyrolysis Method (Slow Pyrolysis, Fast Pyrolysis, and Intermediate Pyrolysis) and Application (Agriculture, Animal Feed, Food, Medicinal & Consumer Products, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027
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A09273
Pages: 169
Jan 2021 | 4365 Views
Author(s) : Amit Narune , Eswara Prasad
Tables: 76
Charts: 40
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COVID-19

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The global wood vinegar market was valued at $4.5 million in 2019, and is projected to reach $6.4 million by 2027, growing at a CAGR of 7.0% from 2020 to 2027. 

The outbreak of COVID-19 hindered the market growth by disrupting the industrial manufacturing activities in Asia-Pacific region; as it is the manufacturing hub for wood vinegar.

Wood vinegar is produced by using destructive distillation process. It is also known as pyroligneous acid or wood acid. It is a dark liquid produced by wood and other biomass materials. The main ingredients of wood vinegar are methanol, acetone, and acetic acid. Wood vinegar was used as a commercial source for acetic acid. Furthermore, it majorly comprises around 70-90% water with some organic content. Wood vinegar is also used for food preservation application for meat, fish, and others. This is attributed to its antimicrobial contents such as acetate, methyl ethyl ester, alcohol, aldehyde, ketone, and others. 

Wood-Vinegar-Market-2020-2027

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The wood vinegar market is anticipated to witness significant growth due to numerous factors such as technological advancement in production method, rise in demand from Asia-Pacific, and others. In addition, it is a great alternative for synthetic pesticide and fertilizer. It has enormous use in agriculture such as anti-pathogenic fungal, plant growth promoter, weed grow inhibitor, and others. However, lack of awareness regarding wood vinegar hinders the wood vinegar market growth. In addition, restrictions on burning of biomass wood in some of the regions limits the growth of wood vinegar market. On the contrary, rise in application of wood vinegar such as anti-protozoa, anti-bacterial, and sterilizing agent is expected to offer lucrative opportunities during the forecast period.

The wood vinegar market is segmented on the basis of pyrolysis method, application, and region. By pyrolysis method, the market is divided into slow pyrolysis, fast pyrolysis, and intermediate pyrolysis. The application covered in the study includes agriculture, animal feed, food, medicinal and consumer products, and others. Region wise, the wood vinegar market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The wood vinegar market share is analyzed for all regions and segments

The wood vinegar market analysis covers in-depth information of the major industry participants. Some of the major players in the wood vinegar market include Applied Gaia Corporation, Ace (Singapore) Pte Ltd. (ACE), Tagrow CO., Ltd. (Tagrow), Sane Shell Carbon (SSC), Shandong Toroyal Group (Toroyal Group), New Life Agro (NL Agro), Dongying Runyi Biological Technology Co., Ltd. (DRBT CO., Ltd.), Nettenergy BV, DOI & CO., LTD.

Wood Vinegar Market, by Pyrolysis Method

By pyrolysis method, slow pyrolysis method has garnered highest share in the wood vinegar market in 2019. It has garnered 69.1% share in 2019. Slow pyrolysis produces a vital amount of an aqueous fraction containing organic acids that is known as wood vinegar. In addition, this method offers various advantages such as higher yield than other methods, requires less temperature, great ability to handle low quality and inhomogeneous feedstock and others. The only disadvantage of slow pyrolysis is time taken for the process.  In addition, slow pyrolysis method is also expected to grow at fastest growth rate of 7.1% during the forecast period. As wood vinegar and this pyrolysis method both has not been much explored in North America and Europe for producing wood vinegar and has been limited in Asia-Pacific region, especially South East Asian countries.

Wood Vinegar Market
By Pyrolysis Method

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Slow Pyrolysis is projected as the most lucrative segment.

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Fast pyrolysis segment garnered second highest share in the wood vinegar market. It has garnered 18.2% in 2019. This is attributed to its benefits such aa less vapor residence time. The disadvantage of this process is requirement of high temperature. 

Wood Vinegar Market, by Application

On the basis of application, the agriculture sector has garnered the highest market share in 2019. The agriculture segment has garnered 41.2% in 2019. This is attributed to increase wood vinegar’s dominant use in numerous agricultural application such as pesticides, weed grow inhibitor, repellent, plant growth promoter, and others. 

Wood Vinegar Market
By Application

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Agriculture is projected as the most lucrative segment.

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Animal feed segment garnered second highest share in the market. It garnered 33.3% in 2019. Wood vinegar along with charcoal are used as feed supplements in poultry. It efficiently controls the production of odor causing bacteria on the animal. In addition, it also destroys bacteria responsible for gastrointestinal diseases in poultry animals. 

Wood Vinegar Market, by Region

Region wise, Asia-Pacific has garnered highest share in wood vinegar market in 2019. Asia-Pacific garnered 36.6% in 2019. This is attributed to presence of major countries such as China, Japan, Malaysia, and others in the regions. These countries have presence of key players and having long tradition on the use of slow pyrolysis techniques for various products such as wood vinegar, charcoal, and others.

Wood Vinegar Market
By Region

2027
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.

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Key Benefits For Stakeholders

  • The market forecast is studied from 2020 to 2027
  • The wood vinegar market size is provided for various application in terms of revenue
  • The report provides an in-depth analysis of the market along with the current and future market trends
  • This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period
  • Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the wood vinegar industry for strategy building
  • The qualitative data in this report aims on market dynamics, wood vinegar market trends, and developments

Impact of COVID-19 on the wood vinegar market

  • The outbreak of COVID-19 has affected the demand as well as manufacturing in supply regions.
  • The outbreak of COVID-19 in China has severely affected numerous industries, from the first quarter of 2020, which further disrupted the demand for wood vinegar.
  • The COVID-19 crisis has affected the chemical industry supply chain to a major extent. Therefore, this led to a major impact on raw material procurement.

Key Market Segments & Key Market Players

Segments Sub-segments
By Pyrolysis Method
  • Slow Pyrolysis
  • Fast Pyrolysis
  • Intermediate Pyrolysis

By Application
  • Agriculture
  • Animal Feed
  • Food, Medicinal and Consumer Products
  • Others

By Region
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Malaysia
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Chile
    • South Africa
    • Rest of LAMEA

Key Market Players
  • Ace (Singapore) Pte Ltd
  • TAGROW CO., LTD.
  • Sane Shell Carbon
  • Shandong Toroyal Group
  • New Life Agro
  • Applied Gaia Corporation
  • Dongying Runyi Biological Technology Co., Ltd.
  • DOI & CO., LTD.
  • Nettenergy BV
 

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The wood vinegar market is underdeveloped and expected to witness significant growth. This is attributed to its multifunctional use in agricultural applications such as pesticides, fertilizer, weed growth inhibitor, repellent, plant growth promoter, and others. In addition, Asia-Pacific is expected to experience the fastest growth rate owing to presence of countries such as China, Japan, India, and Indonesia. These countries have presence of key players and tradition of using slow pyrolysis method for the production of various products such as wood vinegar, charcoal, and others. 

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FREQUENTLY ASKED QUESTIONS?

A. Trend of organic farming and concerns regarding chemical-based fertilizer are some of the factors boosting the wood vinegar market growth.

A. The market value of wood vinegar was $4.5 million in 2019 and expected to reach $6.4 million in 2027 at a CAGR of 7.0% during the forecast period.

A. New Life Wood Vinegar, Shandong Toroyal Group, Tagrow Co., Ltd. Are some of the top companies in the wood vinegar industry.

A. Agriculture industry is projected to increase the demand for wood vinegar.

A. On the basis of pyrolysis method, slow pyrolysis method is expected to drive the wood vinegar market growth

A. Increasing demand for wood vinegar for agricultural application is one of the main drivers of the wood vinegar market

A. Agriculture application is expected to drive the adoption of wood vinegar.

A. The COVID-19 has impacted the wood vinegar market by disrupting the value chain of the market which resulted in difficulty in raw material procurement.

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