Biochar Market to Garner USD368.85 million, Globally, by 2028 at 11.1% CAGR: The Insight Partners

The biochar market is projected to reach US$ 177.06 million by 2021 from US$ 368.85 million in 2028. It is expected to grow at a CAGR of 11.1% from 2021 to 2028. Biochar is charcoal or high-carbon, fine-grained residue produced via pyrolysis. It is used as a soil conditioner and animal feed ingredient. Biochar is a stable solid that can abide in soil for thousands of years. Biochar reduces the leaching of E. coli through sandy soils depending on its application rate, feedstock, and pyrolysis temperature (i.e., 300-700°C); moisture content and texture of soil; and surface properties of the bacterial cells.

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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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