Biochar Market to Garner US$ 368.85 million by 2028

According to The Insight Partners latest market study titled " Biochar Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Feedstock and Application," the biochar market is projected to reach US$ 368.85 million by 2028 from US$ 177.06 million in 2021. It is expected to grow at a CAGR of 11.1% from 2021 to 2028.

The growing feedstock industry increases the demand for biochar. The feedstock can be categorized as woody biomass, agricultural waste, and animal manure. Agricultural waste, such as corn, rice, and fruit peels, and wood from forests, is a feedstock used to produce biochar. Furthermore, biochar is produced from original materials, such as wastewater sludges and microalgae. It is also being used to feed animals. A feedstock is the raw material used for processing or manufacturing another product. The feedstocks such as Crude oil, corn, soyabean oil used to produce gasoline, and ethanol, which is used to create biodiesel. Therefore, the flourishing feedstock industry is favoring the growth of the global biochar market.

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The Climate Hubs (the U.S Department of Agriculture) has established an online platform, 'The Pacific Northwest Biochar Atlas', that helps users choose biochar to suit soil health goals. In addition, the Atlas provides details about the benefits of biochar, a dozen example operations implementing biochar across the region, and a map of biochar producers to simplify access for interested producers. These and other Atlas features help improve information exchange, continuing education, and biochar accessibility for the Northwest of farmers. Hence the agriculture industry's demand for biochar and driving the global biochar market.

Some of the major key players operating in the global biochar market include Airex Énergie Inc.; Genesis Industries; Carbon Gold Ltd; Black Owl Biochar; Biochar Now, LLC; Phoenix Energy; American BioChar Company; BioForceTech Corporation; Ecoera, and Pyropower. The major players in the biochar market are focusing on strategies such as research and development and new product development to increase the geographical presence and consumer base globally.

Biochar is charcoal or high-carbon, the fine-grained residue produced via pyrolysis. Biochar is used as a soil conditioner and fed to animals. Biochar is a stable solid rich in carbon and can abide in soil for thousands of years. Biochar offers multiple soil health benefits. It promotes good soil and plants health. Biochar reduces leaching of E-coli through sandy soils depending on application rate, feedstock, pyrolysis temperature (i.e. 300-700C), soil moisture content, soil texture, and surface properties of the bacteria. Biochar can improve yield for plants that require high potash and elevated pH. Biochar can enhance water quality reduce soil emissions of greenhouse gases, nutrient leaching, soil acidity, irrigation and fertilizer requirements. Under certain circumstances, biochar induces plant systemic responses to foliar fungal diseases and improves plant responses to infections caused by soil-borne pathogens. These associated benefits of biochar bolstered the demand for biochar in the agriculture industry.

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Impact of COVID-19 Pandemic on Biochar Market

Economies in the Middle East & Africa were hit hard by the COVID-19 in 2020. The impact of lockdown in the countries in this region compelled various chemicals and materials manufacturing companies to shut down their operational plants, which is one of the reasons that hindered the performance of the biochar market in the Middle East & Africa.

Based on application, the biochar market has been segmented into electricity generation, agriculture, forestry, and others. The agriculture segment held a significant share of the market in 2020, and the agriculture segment is expected to register the highest CAGR during the forecast period. Biochar is made using forest waste, agricultural waste, and urban green waste and is highly adopted to be used for the production of energy. There are two most adopted processes for production of Biochar namely pyrolysis and gasification. Biochar is a carbon-rich and porous material obtained in pyrolysis of biomass. During the production of biochar, pyrolysis gases are considered as an energy source. Also, gasification is an effective conversion process that converts biomass into energy fuel while producing biochar as a byproduct. Production of Biomass through gasification and pyrolysis production systems creates energy and soil additives. Biochar made with cogeneration of electricity especially in rural regions can lead to regional development and energy production.

Table of Content:

1. Introduction
1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study

3.2 Research Methodology

3.2.1 Data Collection

3.2.2 Primary Interviews

3.2.3 Hypothesis Formulation

3.2.4 Macro-economic Factor Analysis

3.2.5 Developing Base Number

3.2.6 Data Triangulation

3.2.7 Country Level Data

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