The new report by Expert Market Research titled, ‘Global Biochar Market Size, Share, Price, Trends, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the Global Biochar Market, assessing the market based on its segments like applications, technology, and regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 702 million
- Forecast CAGR (2023-2028): 11.7%
- Forecast Market Size (2028): USD 2538 million
The main purpose of biochar is to produce charcoal from regulated heating of waste items, such as agricultural waste, timber waste, forest waste and manure. The global biochar market is projected to produce high product demand in the forecast period through environmental sensitivity, cheaper raw material costs and coherent waste management regulations governmental policies.
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Industry Definition and Major Segments
Biochar is a kind of wood produced by exposing low oxygen heating organic waste (for example wood chips, residues of plants or manure). It is usually used to reduce pollutants or hazardous components and to stop moisture runoff, soil washing and fertilizer, amongst other end purposes.
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On the basis of application, the market is segmented into:
- Agriculture
- Livestock Farming
- General Farming
- Organic Farming
- Inorganic Farming
- Others
- Household
- Others
On the basis of technology, the market is divided into:
- Pyrolysis
- Gasification
- Others
On the basis of region, the market is segmented into:
- North America
- Europe
- Asia
- Latin America
- Middle East and Africa
Market Trends
The growing focus on land development and increasing demand for organic food is key to the growth of the global biochar industry. The increased awareness of the environment also contributes to the growth of the biochar market. Moreover, the global biochar market is predicted to enhance reduced raw material costs and coherent waste management policy. The issues which may hinder worldwide biochar market expansion in the next few years are the economic hurdles and the lack of customer awareness.
Key Market Players
The major players in the market are Agri-Tech Producers LLC, Dicarbon Energy Inc., Biochar Products Inc., Cool Planet Energy Systems Inc., Vega Biofuels Inc., The Biochar Company, Phoenix Energy, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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