The Biochar market is expected to exhibit a CAGR of over 11.75% to reach a value of around USD 3,712.05 million by the end of 2030.
Biochar is a charcoal-like material that is produced from plant materials such as grass, agricultural, and forest residues that are decomposed at high temperatures, often during renewable energy production. The physical and chemical properties of the plant material change during the process, resulting in the biochar market as a highly porous, stable, carbon-rich substance. According to a recent study, it has the potential to be utilized as a soil conditioner and a container substrate amendment in agriculture and horticulture, and it may improve a variety of physical, chemical, and biological aspects of soil and substrate.
EINECS (European Inventory of Existing Commercial Chemical Substances) and OSHA (Occupational Safety and Health Administration) Hazard Communication Standards are two regulatory bodies that help biochar manufacturers with proper production and testing.
Various US EPA (Environmental Protection Agency) testing standards have been developed to produce and test materials of dioxins presence in biochar. Biochar material consist of similar characteristics with activated carbon such as a high sorption affinity for hydrophobic organic pollutants. Henceforth, activated carbon and biochar consist of dioxins and US EPA has regulated.
Impact of Coronavirus Outbreak
The COVID-19 pandemic continues to expand rapidly and has severely disrupted supply chains, created significant volatility in global financial markets, and changed the communication and business landscape. the seasonal migrants who would work in urban areas for farming could not carry it on owing to travel restrictions. Countries significantly dependent on primary commodity exports (food, raw materials, fuels)
However, in the end of 2021, it is estimated the demand for biochar is expected to gain pace and drive market growth.
- Based on technology, the global biochar market is divided into pyrolysis, gasification and others.
- The pyrolysis segment is expected to register a significant growth rate because of its widespread use of methods by various key players and manufacturers. Pyrolysis technology is a form of manufacturing method in which biomass is fed from the top into the pyrolysis reactor while air is supplied from the bottom. Biomass is heated and converted to biochar inside the reactor by chemical and physical processes. The pyrolysis process produces biochar, syngas (synthesis gas), and pyrolysis oil as by-products.
- The market for gasification segment is anticipated to eyewitness stable growth during the assessment period. Another biochar generation process is gasification, which involves heating partially combusting biomass at high temperatures (700–1000oC) in an oxygen-deficient atmosphere. It creates high-quality fuel gases (hydrogen and carbon monoxide) as well as charcoal during this process.
- Others — Others include Hydrothermal Carbonization, and other technologies.
- This segment is classified into agriculture, animal farming, industrial, and other applications.
- Biochar are majorly used in the agriculture industry for animal feed, food supplement, as a fertilizers, and many more application.
- Biochar, or carbonised biomass comparable to charcoal, has been commonly utilised for animal farming such as cattle farming and poultry farming; and animal medicinal therapy. It’s also utilised as a regular feed additive to boost the health of animals.
- The industrial segment includes energy power, textile, agriculture, electronics, and others and is anticipated to drive the global market growth during the forecast period.
- North America: North America is expected to boost the global market growth over the forthcoming years. This growth is attributed to presence of major manufacturers and suppliers in this region. Moreover, expanding end-use industries, especially power industry, are driving the regional market growth. Furthermore, increasing sales of pyrolysis equipment and increasing demand for biochar in electricity generation are anticipated to fuel the regional market growth over the foreseeable period.
- Europe: Europe is a well-established market. The demand for biochar in electronic industry is driving the Europe biochar market over the forecast period.
- Asia-Pacific: In APAC, regenerative agriculture is another factor driving the growth of regional market because it improves soil fertility, soil biology, and watersheds while also absorbing carbon to lessen climate change’s effects.
- Latin America: Brazil and Mexico are estimated to provide lucrative opportunities for market growth during the assessment period.
- Middle East Africa: The growing infrastructural projects in GCC countries such as UAE and increasing usage for biochar in the production of building materials are expected to fuel the product demand in the Middle East Africa region over the foreseeable period.
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