Biochar is identified as a fine grain product derived from organic waste. It is a type of charcoal that is produced by exposing organic waste materials (for instance plant residues and wood chips) to heat in a low-oxygen environment. It is generally used in the soil modification, among other things, to reduce the amount of pollutants & toxic components and to prevent the run-off of moisture, dirt, and fertilizers. Biochar has various applications such as mitigation of climate change, contaminant remediation, enhancement of crop productivity, and increased soil microbial biomass. Cheaper raw material costs, environmental awareness, and cohesive waste management public policies are estimated to drive strong product demand in the global biochar market throughout the forecast period.
As per analysis, “Global Biochar Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)” the key companies operating in the global biochar market include Agri-Tech Producers, LLC, Renewable Carbon Resources Australia, Biochar Industries, Diacarbon Energy Inc., Pacific Pyrolysis Pty Limited, Green Life Soil Co, Green Man Char and among others. Key players are adopting business strategies for instance mergers & acquisition to gain the competitive advantage and to expand their product portfolio.
Based on type, biochar market can be segregated as animal manure, agriculture waste, biomass plantation and forestry waste. Forestry waste includes tree bark, switch-grass, sawdust, hemp, nutshells, straw, wood chips, wood pellets, noxious weeds, and algae. In addition, based on application, market can be segregated as agriculture, gardening and household.
The biochar market is driven by rise in demand for biochar byproducts for instance biofuels and syngas, followed by growth in research & development (R&D) in biochar production technology, rise in waste-to-energy programs, increase in applications for plant growth & development, rise in usage of biochar in energy production & conservatory gas remediation, continuous development in farming and rise in demand for growing high-quality crops for organic food. Additionally, capability to improve the soil fertility & plant growth is further expected to supplement the growth of biochar market. Apart from this, absence of knowledge concerning the advantages of the product and risk of contamination & soil erosion may impact the market. Moreover, decrease in the price of feedstock, extensive accessibility and increase in initiatives taken by the government are leading opportunities for market. Furthermore, increase in usage of biochar in livestock feed is a key trend for global market.
Based on geography, the North-America is a leading region in global biochar market owing to growth in demand for organic food products among consumers across the region. The Asia-Pacific and Europe regions are expected to witness higher growth rate due to increase in application of the product in livestock feed & organic farming, growth of agriculture industry coupled with increase in supportive initiatives taken by government over the forecast period. It is predicted that future of the global biochar market will be projected to witness higher growth rate on account of rise in demand for food backed by rising population and ability of biochar to improve soil fertility during the forecast period.
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Related Reports:-
Global Biochar Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025
Global Biochar Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use
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