The Global Biochar Market is expected to reach USD 3.14 billion by 2025. Globally increasing consumption of organic food has been a major factor driving market growth. In addition, growing awareness regarding the advantages of biochar as soil amendment is further supplementing demand for the global market.
Biochar is an emerging industry and the product is at its nascent stage. The product is expected to be a key factor for increasing agricultural productivity and crop yield in the near future. Its ability to enhance soil fertility and plant growth is expected to be a key factor on account of growing global population and rising demand for organic food.
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Agriculture was the largest product category in 2015 and is expected to grow substantially over the forecast period. Farming was the major application segment in agriculture with a share of over 45% in 2015.
Application in agriculture segment is expected to observe the fastest growth over the next nine years with an estimated CAGR of around 13.4% from 2016 to 2025. Biochar is primarily used in agriculture to enhance soil fertility, improve plant growth, and provide crop nutrition. As a result, it, improves the overall productivity. It has also gained considerable popularity in livestock farming as an animal feed. The livestock sector is extremely crucial for biochar, especially in regions such as the North America and Europe where meat is important for human consumption.
Further key findings from the report suggest:
• The global demand exceeded 280 kilo tons in 2015 and is expected to grow at a CAGR of 12.15% from 2016 to 2025
• Agriculture emerged as the largest application segment in 2015 and is estimated to generate revenue over USD 2.44 billion by 2025
• Global demand in pyrolysis was USD 572.76 million in 2015 and is anticipated to witness staggered growth over the next nine years
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• The U.S. biochar market in livestock was 24.9 kilotons in 2015 and is estimated to reach a total volume of over 78.8 kilotons by 2025
• The industry in Asia Pacific is projected to witness substantial growth over the next decade owing to rising popularity of organic farming and increasing application in animal feed. Asia Pacific is expected to grow at a CAGR of 15.6% from 2016 to 2025
• Key players including Diacarbon Energy Inc, Vega Biofuels Inc. and Agri-Tech Producers, LLC have invested heavily in gasification technology and are expected to expand their production facilities over the forecast period. The market has also witnessed an increase in the number of pyrolysis equipment manufacturing companies such as Earth Systems and Clean Fuels B.V. In April 2014, Phoenix Energy announced construction of a biomass gasification facility in California, in order to strengthen its business presence.
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