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Biochar Market Outlook, Opportunity, Share And Demand Analysis, Forecast to 2023
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Among all other applications, agricultural segment is witnessing a strong growth rate in the global biochar market, since biochar helps improve soil quality and crop yield. Chemical fertilizers are largely used in agriculture, which lead to decline in agricultural land per capita as well as in soil quality. To address this issue, biochar is remaining high in demand. As per the research, forestry waste is estimated to be the largest segment by feedstock.
In 2015, North America was geographically the largest biochar market. Due to growing demand for agricultural products and enhancement in soil fertility and crop yield, the North American market for biochar has been witnessing significant growth. This region reports continuous use of chemical fertilizers, along with mining and deforestation, which results in degradation of its soil quality and texture.
Production of biochar helps efficiently manage agricultural and other organic waste, which is the cause of polluted waterways and landfills. Also, it helps in cutting cost of waste disposal. Hence, biochar is a better choice over charcoal produced from forest fires, which release harmful gases in the atmosphere.
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Some of the key companies in the global biochar market include Biochar Products Inc., Diacarbon Energy Inc., Agri-Tech Producers LLC, Genesis Industries, Green Charcoal International, Vega Biofuels Inc., The Biochar Company, Cool Planet Energy Systems Inc., Full Circle Biochar, and Pacific Pyrolysis Pty Ltd.
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