Biochar Market Expected to Rise Substantially Owing to the Growing Applications in Agriculture and Horticulture

Global biochar market is expected to grow by 2031 primarily due to the increasing usage in agriculture and horticulture. Pyrolysis sub-segment is expected to be the fastest growing. The Asia-Pacific market is predicted to grow massively.

As per the report published by Research Dive, the global biochar market is expected to register a revenue of $2,366.4 million by 2031 with at a CAGR of 18.4% during the forecast period 2022-2031.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐧𝐨𝐰 @ https://www.researchdive.com/download-sample/3862

𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭
Drivers: Increasing use of biochar for waste management is predicted to drive the market growth in the forecast period. Besides, increasing application of biochar for enhancing soil fertility and promoting food security is expected to propel the biochar market forward in the coming period.

Restraints: risk of contamination and soil compaction due to excessive use of biochar might become a restraint in the growth of the market.

Opportunities: Rise in the use of biochar in agriculture, horticulture, and soil remediation sector is expected to drive excellent opportunities for the biochar market in the forecast period. Besides, growing application of biochar in the construction sector is anticipated to push the market forward.

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐨𝐧 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭
The COVID-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The biochar market, however, was quite well placed during the pandemic. Biochar production is largely sustainable in nature, which insulated the market from the wrath of the outbreak of the pandemic and the subsequent lockdowns. Also, many of the biochar producing companies received fundings to carry out their operations which helped the market during the tough pandemic period.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐁𝐢𝐨𝐜𝐡𝐚𝐫 𝐌𝐚𝐫𝐤𝐞𝐭
The report has divided the biochar market into multiple segments based on feedstock, production, application, and region.

Based on feedstock, the bamboo-based sub-segment accounted for the highest market size in 2021. This is mainly because bamboo-based biochar offers enhanced aeration, along with improved nutrient retention and water holding capacity of soil. These advantages of bamboo-based biochar are expected to help in the growth of this sub-segment.

Based on production method, the pyrolysis sub-segment held the largest market share in 2021. The ability of pyrolysis to produce biochar from different feedstocks in a cost-effective manner is expected to propel the sub-segment forward.

Based on application, the agriculture sub-segment accounted for the dominant market share in 2021. Increased use of biochar in the agriculture sector as a soil conditioner to improve soil productivity and fertility is anticipated to push the market forward.

Based on region, the Asia-Pacific biochar market held the largest market share in 2021. The growing usage of biochar in countries like China, Australia, India, Japan, South Korea, etc., is predicted to propel the market growth in this region.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 @ https://www.researchdive.com/request-for-customization/3862

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭
The major players of the market include Agri- tech Producers, LLC, Biochar Now, Pacific Biochar Benefit Corporation, Airex Énergie Inc., Bioforcetech Corp., Phoenix Energy, American BioChar, Chargrow USA LLC, ARSTA Eco PVT LTD., and ECOERA. These players are working on developing strategies, such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth.

For instance, in June 2022, Verra, the largest international carbon registry, announced that it would be launching a biochar methodology for soil and non-soil carbon projects. This methodology will immensely help biochar project developers to generate carbon credits, which can then be used to attract investments and financing. The methodology is predicted to open new avenues for the biochar market in the coming period.

The report also summarizes several crucial aspects, such as the financial performance of key market players, SWOT analysis, product portfolio, and the latest strategic advancements.

𝐌𝐨𝐫𝐞 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

Offshore Wind Market: https://www.researchdive.com/8538/offshore-wind-market

Green Hydrogen Market: https://www.researchdive.com/8502/global-green-hydrogen-market

Waste to Energy Market: https://www.researchdive.com/3797/waste-to-energy-market

Solar Energy Market: https://www.researchdive.com/3874/solar-energy-market

Organic PV Solar Cells Market: https://www.researchdive.com/3865/organic-pv-solar-cells-market

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𝐓𝐨𝐥𝐥 𝐅𝐫𝐞𝐞: 𝟏-𝟖𝟖𝟖-𝟗𝟔𝟏-𝟒𝟒𝟓𝟒

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