Growth Analysis: Global Biochar Industry to Observe Extensive Growth Due to Rising Applications of Biochars in Agriculture and Construction Sectors [170-Pages] | Confirmed by Research Dive
- Rising demand for biochar in agriculture and construction sectors is fueling the global biochar market growth. The COVID-19 pandemic has positively impacted the market. The Asia Pacific market is likely to lead the market.
NEW YORK, Dec. 15, 2021 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Biochar Market by Feedstock (Agricultural Waste, Animal Manure, and Others), Production Method (Pyrolysis, Gasification, and Others), Application (Agriculture, Livestock Feed, Building Materials, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028".
The Global Biochar Market is expected to garner $1,147,715.3 thousand by 2028, growing at a CAGR of 16.1% from 2021 to 2028. The report delivers comprehensive insights into the current condition and future prospective of the industry by meticulously examining market drivers and restraints, opportunities, major segments, and regions.
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Key Segment Findings of the Market:
The market is segmented based on feedstock, production method, application, and region.
- The agricultural waste sub-segment of the feedstock segment is anticipated to observe highest growth and collect a revenue of $795,990.4 thousand in the estimated period. This growth is mainly because of the surging demand for agricultural waste for the production of biochar which helps in the enhancement of the soil fertility and restoration of the degraded soil quality.
- The pyrolysis sub-segment of the production method segment is anticipated to hold highest share of the market and surpass $604,285.9 thousand in the estimated period. This growth is mainly because of the rising importance of the pyrolysis technique in the production of biochar.
- The agriculture sub-segment of the application segment is anticipated to witness augmented growth by gathering $496,764.6 thousand in the estimated period. This growth is mainly because of the increasing use of biochar in the agriculture industry as a soil conditioner.
- Among region, the Asia Pacific region market is projected to observe significant growth rising with a CAGR of 17.0% in the estimated period. The growth of this region market is mostly owing to the growing usage of biochar in soil enhancement as well as for concrete strengthening in this region.
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Market Dynamics
The key factor fueling the growth of the global biochar market is a significant rise in the demand for biochar in the agriculture sector for boosting the quality of soil. In addition, increasing applications of biochar as a concrete strengthening agent in the construction sector is expected to open doors to innovative opportunities for the market growth in the projected period. However, the usage of biochar in farming can result in the loss of land owing to erosion; this is projected to hinder the market growth during the forecast period.
Impact of the COVID-19 Pandemic on the Biochar Market:
The COVID-19 pandemic has made a positive impact on the growth of the global biochar market in 2020. In the pandemic period, the agriculture industry was considered under the essential sector to cater the growing demand for food during the pandemic period. As a result, the demand for biochar has greatly surged owing to growing need for crop production. This is significantly propelling the market growth amidst the pandemic period.
10 Top Emerging Biochar Producer and their Development Strategies
- Agri-Tech Producers, LLC
- Biochar Supreme, LLC
- CharGrow USA LLC
- Cool Planet
- Earth Systems Pty Ltd.
- Full Circle Biochar
- Pacific Biochar Benefit Corporation
- Pacific Pyrolysis Pty Ltd
- Phoenix Energy
- ArSta Eco Pvt Ltd.
- Inquire to get access for Detailed Top Companies Development Strategy of Biochar Market Report
Numerous business strategies, such as acquisitions, mergers, R&D activities, new product developments, and much more, are implemented by these players to attain a strong position in the global market. For instance, in July 2019, Aries Clean Energy, a renewable energy firm, introduced the retail sales for its Aries GREEN™ biochar product. This new product is a high carbon content biochar which can be used as an all-natural soil conditioner and agricultural soil fuel, a filtering agent, amendment, and a base material for the manufacturing of carpet, fabric, plastic, rubber, as well as carbon black.
Moreover, the report offers other key details of leading players such as business tactics, financial performance, and product/service range of these players along with Porter's five forces analysis and SWOT analysis.
More about Biochar Market:
- The Biochar Market to Undergo Marvellous Growth with the Rising Applications of Biochar in the Agriculture Sector
- How Does Biochar Act as a Helping Agent to Enhance Soil Sustainability to Meet the Global Demand of Food Productivity?
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