The Global Biochar Market is anticipated to reach USD 3.14 billion by 2025, expanding at a CAGR of 13.1% during the forecast period. Biochar market is expected to experience a lucrative growth on account of rising demand from the agricultural sector in numerous countries including Australia, Germany, Canada and U.S. The products capability to improve plant growth and soil fertility is projected to be a major factor owing to rising demand for organic food and increasing the population. Biochar confiscation, in combination with sustainable biomass production, is expected to be carbon-negative and thus used to actively remove carbon dioxide from the environment, with key effects for adaptation of climate change.
Rising significance of biochar in livestock farming as it offers essential nutrients is anticipated to impel growth over the upcoming years. Rising meat consumption is projected to play a major role in the expansion of the industry over the forecast period. Rising trend for organic farming in Europe and North America on account of extensive production is estimated to impel the growth over the upcoming years. Government initiatives for gasification projects on a large-scale are key factors that are projected to promote biochar market growth over the next eight years. The dearth of consumer awareness about long-term benefits of biochar is expected to be a key challenge for market growth.
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Technological constraints and financial barriers are estimated to act as a restraint to industry growth over the next eight years. Rising demand for organic farming and organic food will open new opportunities for producers, thus stimulating the market growth. Pyrolysis technology is expected to witness rapid growth on account of high yield coupled with stability and high carbon content. Pyrolysis technology is expected to be the most efficient and effective ways of producing the superior quality product. Gasification technology is expected to decline its demand over the upcoming years in light of not producing stable biochar which will be usable in agriculture for soil enhancement and soil amendment purposes.
Applications of gasification technology include large biomass reactors for power and energy generation. Other technologies include hydrothermal carbonized, acid hydrolysis and cooking stove. In 2014, agriculture was the largest application segment which accounted for more than 85% of the market share. Livestock farming which includes poultry farming, meat production and cattle farming add to a large extent to the overall consumption in agriculture. Other applications include waste treatment and water treatment services. Developing economies include India and China have experienced an increase in demand for water treatment facilities on account of rising need for growing hygiene awareness and improved water infrastructure.
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North America was observed to be dominating the industry in 2015 with 162.8-kilo tons and is anticipated to show noteworthy growth in light of increasing trend for organic food and high consumption of meat followed by Europe with over 24% of the market volume. Europe and North America have experienced a noteworthy rise in the number of medium and small scale producers which is anticipated to play a key role in expanding the industry. Australia is estimated to experience a steady growth over the next eight years on account of increasing number of companies and increasing awareness about the product’s advantages and benefits. Growing consumption of biochar in livestock farming in light of its capability to offer essential nutrients and maintain the health of livestock is expected to stimulate industry expansion in the region.
Stringent government norms also account to support organic farming is expected to open new opportunities over the next eight years. The key market players operating in the industry include LLC, Biochar Supreme. Timber companies including West Fraser, Georgia-Pacific, and Weyerhaeuser supply wood pellets and wood residue to numerous biochar manufacturers. The industry, particularly in North America, has numerous small industrialists such as Cool Planet Energy Systems Inc., which are involved in the entire value chain from production stage to the selling stage. Companies such as Cool Planet Energy Systems Inc., Pacific Pyrolysis, 3R ENVIRO TECH Group and Phoenix Energy offer pyrolysis technology waste to energy solutions and produce the product.
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