The boichar market had 1,000 kilo ton by size in 2014 and is anticipated a steep raise over the forecast period. This is mainly due to the requirement from agriculture segment in countries like Australia, Canada, U.S., and Germany. It has the capability to augment plant growth and fertility of soil is estimated to major feature due to increasing organic food requirement and rising population globally.
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Biochar market is anticipated to boost in future due to rising importance in essential nutrients provided by the livestock farming. Consumption of meat in excess is going to help expand the market over the future. Project for large scale gasification is supported by the government which is expected to encourage the biochar market.
A major challenge to the growth of the market is lack of awareness of long term benefit by the consumer. Besides, technological restriction and financial obstruction are anticipated to hold-back growth of the market over the future. However, increasing requirement of organic farming and food is anticipated to unlock new path for the producers.
The market is divided into technology, applications, and regions. Revenue wise the Pyrolysis technology is anticipated quick rise at CAGR more than 11% from 2015 to 2022 due to stability, more carbon content, and more yield. It is very good technology for effectively and efficiently producing produce of good quality. Huge biomass reactors use Gasification technology for power and energy generation.
Technologies other than these two are acid hydrolysis, hydrothermal carbonizer, and cooking stove. In 2014, agriculture was the biggest section and had more than 85% share of the market. Poultry, cattle, and meat production farming is included in livestock farming contributing a large portion of agricultural consumption overall. Water treatment and its facilities are among the other applications.
Rising usage of biochar with superb properties of carbon carrier is going to fuel the requirement. Increasing organic food segment because of growing health concerns of consumer is anticipated to encourage requirement.
North America dominated the global market in 2014 and is anticipated to grow significantly due to rising demand of organic food along with high meat consumption. Europe followed the market with more than 24% volume. Australia is anticipated a stable growth due to increasing companies and awareness regarding advantage & benefits of the products.
Some of the major companies are Biochar Supreme, Weyerhaeuser, LLC, and Georgia-Pacific.
Information Source: Grand View Research