Asreported by Transparency Market Research (TMR), the global biochar marketfeatures a highly competitive landscape with the presence of numerous marketplayers striving to expand their revenue share. Prominent players in the biochar market include FullCircle Biochar, Genesis Industries LLC, Cool Planet Energy Systems, EarthSystems Bioenergy, and Agri-Tech Producers. These companies are emphasizing oninvestment in pyrolysis technology and diversifying product applications togain a stronghold in the market.
Asprojected by TMR analyst, the global biochar market is perceived to display apromising growth rising at 14.5% CAGR during the forecast period, which is 2017to 2025. The market is expected to rise from the initial value of US$444.2 thousandto reach a valuation of US$14,751.8 thousand in 2025.
Basedon feedstock, the global biochar market is segmented into animal manure, woodybiomass, agricultural waste, and others. Of them, the woody biomass segmentleads the market in terms of demand. It accounted for approximately 50% of themarket’s demand in 2016 as it serves as one of the most significant soilamendment products.
Onthe basis of geography, the global biochar market spreads across Asia Pacific,North America, Middle East and Africa, Europe, and Latin America. Among these,North America holds the highest market share in terms of both value and volume.This is on account of rising consumption of organic food and the awareness inthe farming community regarding biochar.
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AwarenessRegarding Benefits of Biochar to Enhance Growth
Urbanizationand industrialization have led to an increase in the environmental concerns.Consequently, governments have laid down stringent regulations pertaining tosoil preservation. This is one of the prominent factors promoting the growth ofthe global biochar market. Additionally, numerous government and non-governmentbodies are highly investing in bio fuels leading to an expansion in the market.Moreover, biochar acts as an apt substitute for chemical fertilizers, therebyleading to an increase in demand for biochar.
Furthermore,rising applications of biochar in greenhouse gas remediation and wastemanagement will facilitate the global biochar market’s growth. In addition tothis, progression in economies has resulted in an increase in the number ofindustries producing biochar. Moreover, there is a rise in awareness regardingbiochar and its role in enhancing plants growth. Along with this, it isincreasingly used in livestock farming. These factors have impacted the biocharmarket positively, thus enhancing its growth prospects.
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Onthe downside, there are a few restraints that may cause a downfall in theglobal biochar market. High investment and technological barriers in the remoteareas may confine the market’s growth. However, the rapidly growing populationand its applications in carbon sequestering may present lucrative opportunitiesfor the market’s growth. Additionally, rapidly expanding agricultural sector isexpected to boost the biochar market’s growth.
ResearchProjects Pertaining to Biochar Production to Boost Prospects
LangaraCollege launched a research project to explore the techniques for biocharproduction and its use. The project involved the use of Langara’s biocharreactor to analyze the potential of the conversion of different solid wastesinto biochar. The researchers converted common biomass materials into biocharand studied its physical and chemical properties. Further, they studied theorigin of the biomass products and the reactor conditions in order tounderstand the relationship between the two. Such research projects havepresented numerous growth opportunities for the global biochar market.
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