Global Biochar Market
Dublin, May 25, 2022 (GLOBE NEWSWIRE) -- The "Biochar Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The biochar market was valued at US$1,165.193 million in 2020 and is expected to grow at a CAGR of 8.17% over the forecast period to reach a total market size of US$2,019.218 million by 2027.
Agricultural waste, wood waste, forest waste, and animal manure can be turned into biochar by heating them according to a set temperature. The main use for the product is as a soil amendment to eliminate pollutants. It prevents soil leaching, water loss, and fertiliser runoff.
A growing awareness of environmental issues, a reduction in raw material prices, and government policies for waste management are expected to expand the market. In addition to the need for high-quality organic crops to be grown, other key drivers for market growth are continuous improvements in farming practises. More than 3.1 million farmers practice organic agriculture in 187 countries.
Furthermore, 72.3 million hectares of agricultural land were developed through organic farming. More than 106 billion euros was spent on organic food and drinks in the EU in 2019. The total land area under organic farming continues to grow in the EU, covering almost 13.8 million hectares in 2019. Therefore, the growth of organic farming is ultimately boosting the market for biochar (Source: europa.eu; fao.org).
Livestock farming is largely driving biochar consumption in agricultural applications. Various livestock farming activities, including poultry farming, cattle farming, and meat production, have increased their consumption since the product provides essential nutrients and maintains the health of livestock. In 2018, 2.8 million organic farmers produced organic food.
India still boasts the most producers (1149,000), then Uganda (2109,000), and Ethiopia (204,000). There will be a huge opportunity for organic farming in the coming years as government support grows, thus, increase the market for biochar.
Growing demand for organic agriculture
Since biochar can boost soil fertility and improve soil properties, it has gradually gained use in developing countries, so that crops can grow better with fewer emissions and greater strength. Because biochar balances acidic soil towards neutrality, agricultural crops and plants are able to benefit from reduced nutrient loss from the root zone and reduced fertiliser requirements. In developing countries, biochar can significantly reduce greenhouse gas emissions like nitrous oxide and methane, for that reason, the government encourages farmers to use it.
In 2016, the US Department of Agriculture (USDA) - National Agricultural Statistics Service (NASS) reported that certified organic commodities were produced and sold on American farms in the amount of US$ 7.6 billion. Furthermore, according to the Certified Organic Survey 2016, organic farm sales in the United States increased by 23% in 2016.
International Biochar Initiative (IBI) reports that China, in terms of chemical fertiliser production, consumption, and imports, is the largest country in the world. According to an article published at the China National Research and Development Center, biochar can improve soil cation exchange capacity (CEC), which means the soil requires fewer chemical fertilizers. Therefore, as organic farming grows, the market for biochar is growing at a rapid rate.
The major issues when applying biochar to the earth are soil erosion and contamination. These two factors can hinder the growth of the market. A high price of biochar and its feedstock restrains market growth, as does a lack of financial incentives and tax breaks, a lack of demonstration projects, and contamination of biochar.
COVID -19 insights
Through 2020, the unprecedented COVID-19 pandemic - and the impact it has had on everyday lives - will have dramatic consequences for the organic industry.
Organic food is becoming the food of choice for consumers who are seeking healthy, clean foods for their families at home. As organic farming directly affects the market, as people become more concerned with the quality of organic foods during the COVID-19 pandemic, their concerns influence the market for biochar.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Biochar Market Analysis, By Production Technology
6. Global Biochar Market Analysis, By Feedstock
6.2. Crop Residue
6.3. Food & Forestry Waste
6.4. Animal Manure
7. Global Biochar Market, By Application
7.2. Electricity Generation
8. Global Biochar Market Analysis, By Geography
8.2. North America
8.2.1. United States
8.3. South America
8.5. Middle East and Africa
8.6. Asia Pacific
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
Airex Energie Inc.
SynTech Bioenergy LLC
BioFire SIA LATVIA
Tolero Energy LLC
For more information about this report visit https://www.researchandmarkets.com/r/fp1ghr
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900