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Biochar Market to Garner USD368.85 million, Globally, by 2028 at 11.1% CAGR: The Insight Partners
Biochar
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Key players operating in the biochar market include Carbon Gold Ltd; Genesis Industries; Black Owl Biochar; Biochar Now, LLC; Airex Energie Inc.; Phoenix Energy; American Biochar Company; Bioforcetech Corp; ECOERA; PYROPOWER.
Impact of COVID-19 Pandemic on Biochar Market
The COVID-19 pandemic has had a devastating impact on Latin America. A sharp decline in global and regional economic activities in 2020 strongly affected South American economies. Large percentage of national revenues in this region comes from international trade, and social restrictions in other countries hampered trade operations of Latin American countries. Moreover, demand and supply of raw materials from the rest of the world dropped in 2020. Trading partners had to postpone investment decisions. Th Economic Commission for Latin America and the Caribbean (ECLAC) reports that the value of exports and imports of goods in the region decreased by 17% from January to May 2020, compared to the same period in 2019.
Segmentation of Biochar Market:
Based on feedstock, the biochar market is segmented into woody biomass and agricultural waste, animal manure, and other feedstock. In terms of application, the market is segmented into electricity generation, agriculture, forestry, and others. Based on geography, the biochar market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM).
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