Peat Market 2018 : Global Industry Growth, Opportunities, Consumptions, Industry Analysis and Forecasts 2024
The forecast Peat Market information is based on the present market situation, growth opportunities, development factors, and opinion of the industry experts. An in-depth analysis of the company profiles, Peat on a global and regional level and applications is conducted. The analysis of downstream buyers, sales channel, raw materials, and industry verticals is offered in this report. According to report, the global peat market is projected to grow at healthy CAGR over the forecast period of 2018-2024.
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Growing People Interest in Gardening will Probably Encounter their Inclination Towards Peat Moss
Peat moss is commonly used in the gardening to improving soil, starting seeds, adding it as an amendment, and more. The growing use of peat moss for agriculture and gardening is driving the growth of peat moss market. The peat has a significant amount of carbon and hydrogen contents that helps them to be used as fuel.
Rapidly growing adoption of Biobased fuel is likely to boost the demand of peats market. The peat has numerous benefited that includes high absorbency, sterile material, acidic pH features, compaction prevention properties, and more so they used in the many applications. In addition, increasing peat applications in agriculture, water filtration, freshwater aquarium, and others are anticipated to boost the growth of peat market.
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North America Holds the Maximum Share in the Peat Market
North America holds the maximum share in the peat market and the Asia Pacific is the fastest growing county in the peat market. In the North America region, the growing use of peat products as the alternative fuel drives the growth of the peat market in this region. The rapidly growing agricultural activities lead to a huge demand for peat products in the Asia Pacific region.
BNM to Expand into Peat Bedding Market
In July 2018, Bord na Mona (BNM) is aiming to substantially increase its offering of peat used for livestock bedding for the upcoming housing season, it has been confirmed. Speaking to AgriLand, Paul Riordan – head of peat operations at BNM – said that the move coincides with ongoing fears over a possible straw shortage this winter due to persistent drought conditions in recent months. Although BNM has been selling bedding peat to farmers in relatively small quantities for the last 15 or 20 years, demand for the product has reportedly skyrocketed this year. With nine peat bogs situated in counties located in the Midlands, Riordan outlined that the bedding option will be widely available to farmers.
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