Peat Market to Reflect Impressive Growth Rate of 15.7% by 2026 | Global Key Players - Stender AG, Neova AB, Cocogreen®, BORD NA MÓNA, AB Rekyva, AS Tootsi Turvas, T & J Enterprises, PEAT LAND UKRAINE LLC

Market Dynamcis

Peat, also known as turf, is an accumulation of organic matter or decayed vegetation that is found in natural areas such as mires or peat lands. Soils that contain significant amount of peat are referred to as a histosol. It is generally formed in wetland temperatures, where flooding slows down the rates of decomposition by obstructing the flow of oxygen from the atmosphere

According to Market Prognosis, the Global Peat Market is accounted for $3.65 billion in 2017 and is expected to reach $13.51 billion by 2026 growing at a CAGR of 15.7% during the forecast period. Rising demand for electricity generation on account of growing population, increasing industries of alcoholic beverages, water treatment and horticulture are some factors boosting the market growth. Increasing popularity for bio-fuels and focus on development of bio-based peat products are expected to provide huge growth opportunities for the market.

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Market Top Player’s

Some of the key players in the global market include Stender AG, Neova AB, Cocogreen®, BORD NA MÓNA, AB Rekyva, AS Tootsi Turvas, T & J Enterprises, PEAT LAND UKRAINE LLC, Globalcoirs, Oulun Energia Oy, Vapo, Jiffy Products International B.V, Elva E.P.T. Ltd.,Global Peat Ltd, Klasmann-Deilmann GmbH, Dutch Plantin, Lambert, Sun Gro Horticulture, Premier Tech and Turveruukki Oy.

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Market Segments

Based on application, agriculture segment held significant share in the global market owing to increasing consumption of peat in the sector as it provides admirable capability to retain the moisture in the soil, when the product is dry and protect the soil from the water. It is mainly used for the production of pasture and crops in the field.
Asia Pacific region is estimated to witness high growth in the market due to the fast urbanization along with the increasing population that leads to excessive demand for the product in various countries. The growing consumption of the product in physiotherapy, rheumatology, and sports medicine is set to drive the market over the assessment period. North America is projected to grow at a higher rate in the market during the forecast period owing to rising demand for peat in heavy industries.
Materials Covered:
• Hemic
• Sepric
• Fabric
• Other Materials
Types Covered:
• Coco Peat
• Sod Peat
• Other Types
Applications Covered:
• Medicine
• Agriculture and Horticulture
• Fuel & Energy
• Domestic
• Water Filtration
• Other Application

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