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Biochar Market is forecast to reach $3.2 million by 2025, after growing at a CAGR of 13.6% during 2020-2025. Rising global demand for the product in organic farming has been a major factor influencing growth. However, rising use of livestock feed and awareness of biochar benefits as soil amendment is expected to drive demand. Environmental awareness, cheaper raw material costs, and cohesive waste management government policies are expected to create greater market expansion avenues. The report covers Biochar Market size by technology and applications, Biochar Market share by top 5 companies and also the market share by start-ups during the forecast period.
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Technology – Segment Analysis
In 2018, pyrolysis holds the largest share in the biochar market, as pyrolysis is the most efficient production process among the various available manufacturing technologies. However the increasing need for electricity generation has shown a moderate increase in the use of gasification technology.
Application – Segment Analysis
The agricultural segment held the largest share of the biochar market in 2018. Biochar helps to enhance water and fertilizer holding capacity and increase soil biological productivity, which helps to provide crop nutrition and accelerate growth. General farming is a major segment of agricultural applications, which is expected to rise significantly and increase the demand for the overall market due to increased awareness among farmers through research groups and institutes.
Geography – Segment Analysis
North America holds the largest share of more than 45% in the biochar market and is expected to see significant growth with increased demand for organic food and high meat consumption. Biochar awareness is very high in this region compared to others, and the farming community has more knowledge of the product and its benefits. However on the back of rapidly growing emerging economies such as India and China, the Asia-Pacific biochar market is expected to see the fastest growth in coming years.
Drivers – Biochar Market
Government regulation is supporting market growth.
The regulatory authorities governing the market are the EU Commission and the U.S. EPA. It has governed the use of products in agricultural production and the management of waste. The U.S. EPA and the EU Commission have released numerous rules on the production and consumption of the product. As the company is still in the preliminary stage, there are enormous opportunities to grow in the future for the production of blended products.
Challenges – Biochar Market
Technological barriers and high investments for large production.
Biochar can be produced at small and large scales. Small-scale production can be done by pyrolysis using low-cost modified stoves and kilns and relatively simple technology. Large-scale production requires larger technological plants and adequate feedstocks, which are more capital-intensive. This is, therefore, acting as a challenge in the biochar market.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Biochar Market. In 2019, the market of Biochar has been consolidated by the top five players accounting for xx% of the share. Major players in the Biochar Market are BlackCarbon A/S, Biochar Industries, Swiss Biochar GmbH, Carbon Terra GmbH, Biochar Ireland, Sunriver Biochar, Pacific Biochar Benefit Corporation, Waste to Energy Solutions Inc., Airex Energy, Carbon Gold Ltd, Clean Fuels B.V., 3R ENVIRO TECH Group., among others.
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