Global Biochar Market size is projected to be valued $17,050 Thousand by 2024; with a CAGR of 16.2% from 2017 to 2025. Biochar is a steady solid, carbon rich charcoal produced by heating various waste products such as wood waste, forest waste, agricultural waste, and animal manure. Various technologies such as microwave pyrolysis and gasification are used for biochar production. Biochar produced through modern pyrolysis procedures is rich in carbon and is very fine-grained residue.
Waste management potential, enhanced soil fertility and crop yield, increased government initiatives and strict environment regulations and natural carbon sequestration property of biochar are the factors driving the growth of biochar market. Though, lack of consumer awareness about the benefits of biochar may hinder the growth of the market. Moreover, emerging economies and growing biofuel sector might provide with several growth opportunities in the forecasted years.
The global biochar market is segmented on the basis of feedstock, technology, application, and geography. The market is segmented by feedstock as agriculture waste, forestry waste,animal manure, and biomass plantation. Technology segment includes microwave pyrolysis, batch pyrolysis kiln, continuous pyrolysiskiln, gasifier & cookstove, and other technologies. Furthermore, the market is segmented by application as gardening, agriculture, and household.
Based on geography, global biochar market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, and Rest of Europe. Asia-Pacific is segmented into India, China, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The key market players include Vega Biofuels, Inc., Pacific Pyrolysis Pty Ltd, Pacific Biochar, Genesis Industries LLC, CharGrow, LLC, Cool Planet Energy Systems, Diacarbon Energy Inc., Biochar Supreme LLC, Phoenix Energy, and Earth Systems Bioenergy, among others.
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Scope of the Global Biochar Market