Biochar Market Growth Is Attributed To The Increased Production Of Biochar Through Pyrolysis Technology

According to Precision Business Insights (PBI), the latest report biochar market was valued at USD 243.8 million in 2022, growing at a 12.6% CAGR during the forecast period 2023 to 2029. The rising demand for organic and eco-friendly products drives the biochar market. Utilizing biochar corresponds with organic farming methods, improving market prospects. Furthermore, biochar is a potential material for water treatment and remediation because of its capacity to absorb contaminants and nutrients providing opportunities for its usage in sanitation facilities, lake and river water quality enhancement, and agricultural runoff effect reduction. Moreover, Governments and environmental organizations of several countries support the use of biochar as part of sustainable agriculture and carbon sequestration techniques with policies and incentives that also propel market growth. For instance, the Indian government initiated the National Mission for Sustainable Agriculture (NMSA) to promote the adoption of technologies like biochar to reduce, recycle, and repurpose organic waste streams. Additionally, the numerous ongoing research and development initiatives, increasing awareness among people also burgeon the growth of the market over the forecast years.

View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/biochar-market

The biochar market is segmented based on technology, feedstock, application, and geography.
Based on the technology, the market is segmented into the following:
• Pyrolysis
• Gasification Systems
• Others

Based on the feedstock, the market is segmented into the following:
• Woody Biomass
• Agricultural Waste
• Animal Manure
• Others

Based on application, the market is segmented into the following:
• Agriculture
• Animal Farming
• Industrial Uses
• Others

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Pyrolysis Segment Dominates the Biochar Market
Based on the technology, pyrolysis technology dominates biochar production and is anticipated to show a significant growth rate in the market share over the forecasting period. It involves heating biomass in the absence of oxygen to produce biochar, bio-oil, and syngas. Fast pyrolysis emphasizes the creation of bio-oil, whereas slow pyrolysis yields a higher percentage of biochar. The pyrolysis-produced biochar can be utilized directly as a soil amendment or transformed into products with additional value for use in a variety of industries, including agriculture, water treatment, and environmental cleanup. For instance, in April 2021, a pyrolysis pilot plant 'Pyrasol' was launched in Chennai, India to transform urban organic waste into biochar and energy. It is also often used for carbon sequestration purposes, aligning with climate change mitigation strategies.

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Asia Pacific Leads Biochar Market
Biochar market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific accounted for a significant share of the biochar market. The market is expected to grow at a significant CAGR over the forecast years owing to a significant portion of the world's agricultural land, and agriculture is a major economic activity in many countries within the region. China and India dominate the market owing to their large and growing populations. The ability of biochar to improve soil fertility, water retention, and nutrient availability is consistent with the region's objectives of boosting agricultural production while being food secure. North America is anticipated to grow in the forecasting period owing to rapid industrialization and urbanization in the U.S. and Canada which has led to increased concerns about waste management and environmental pollution with biochar being a safe solution.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
Biochar market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

Key player's profiles in the biochar market report are Airex Energy, Biochar Supreme, Pacific Biochar Corporation, ProActive Agriculture, Phoenix Energy, Carbonis GmbH & Co. KG, Farm2Energy, Oregon Biochar Solutions, CharGrow LLC, Chardust Ltd, Safi Organics, Charline Gmbh, Cookswell Jikos, and Aries Clean Energy.

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This release was published on openPR.