Biochar Market to Surpass Valuation of US$ 6.3 Bn By 2031; Associated Environmental Benefits to Fuel Market Growth, Notes Study by TMR

- High electricity consumption is driving the demand for biochar, as it is a vital renewable energy source

- Improved soil structure and fertility is a key factor that is expected to expand the biochar market landscape

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Oct 05, 2021, 07:30 ET

ALBANY, N.Y., Oct. 5, 2021 /PRNewswire/ -- Excessive demand for reducing environmental pollution and high adoption of latest technologies for the conversion of organic wastes to biochar are anticipated to offer considerable growth opportunities in the global biochar market during the forecast period of 2021-2031.

The role of biochar in enhancing soil health and boosting crop yield in a sustainable way is anticipated to serve as a significant growth driver. Furthermore, the increasing use of reactors across farms, especially in agricultural countries such as India to increase the pace of stubble conversion into biomass will lead to tremendous growth opportunities for the biochar market players.

Biochar is a product derived from organic waste. It is obtained through controlled heating of wood waste, animal manure, forest waste, and agricultural waste. The use of biochar in waste management, climate change mitigation, gardening, composting, horticulture, electricity generation, forestry, and agriculture is expected to grow in the near future. The use of biochar with soil helps in boosting soil fertility, crop productivity, and water holding capacity. These advantages are projected to offer profitable opportunities in the market.

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Transparency Market Research (TMR) has conducted a research on various aspects linked with the growth of the biochar market. TMR experts project the global market for biochar to expand at a CAGR of 15.35% during the forecast period of 2021-2031. The global biochar market is expected to cross US$ 6.3 Bn by 2031.

Research and development activities for full utilization of biochar are being conducted extensively around the world. The mixing of animal manure with biochar for controlling nutrient loss is a classic example. In addition, advanced biochar production methods such as continuous feed pyrolyzers are gaining popularity. These developments help in improving the growth trajectory of the biochar market.

Key Findings of Report

Growing Need to Reduce Soil Degradation Propels Demand for Biochar

The degradation of soil is a major environmental issue in various regions. It is a cause of concern specifically for agriculture-based economies. Soil degradation is caused due to poor management or improper use for industrial, urban, or agricultural purposes. The addition of biochar to the soil can help in eliminating the problem of soil degradation. Biochar offers good texture, extensive porosity, and density to the soil. These factors help to increase the growth rate of the biochar market.

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Ability of Biochar to Decrease Carbon Dioxide Emissions Assures Promising Market Growth

Consistent burning of fossil fuels and biomass decomposition are leading to excessive release of carbon dioxide in the atmosphere, thus contributing to global warming. Biochar can prove to be an effective tool for decreasing carbon dioxide emissions, as it has the potential to store 50% of carbon from feedstock. This aspect helps to prevent carbon dioxide emission from organic decomposition.

Biochar Market: Key Growth Drivers

Ability of biochar to minimize water erosion by improving the soil qualityto lead to exponential market growth
Role of biochar in retaining nitrogen and phosphorous in the soil to drive global market
Biochar addition has proven to increase soil fertility and improve crop yield substantially, which serve as significant growth prospects
Demand for electricity is rising at a rapid rate, and the use of renewable sources of energy such as biochar to meet electricity demands is anticipated to ffer lucrative opportunities to market players
Utilization of biochar for controlling nutrient loss by blending it with animal waste will further improve the growth trajectory of the global market

Some well-established players in the biochar market are American BioChar Company, Black Owl Biochar, ETIA S.A.S., Bioforcetech Corporation, and Airex Énergie Inc.

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Global Biochar Market – Segmentation

By Feedstock
Woody
Biomass
Agricultural Waste
Animal Manure
Others (including Biomass Plantation and Forestry Waste)

By Technology

Pyrolysis
Gasification
Others (including Flash Carbonization)

By Application

Electricity Generation
Agriculture
Forestry
Others (including Waste Management, Soil Amendment, Gardening, Climate Change Mitigation, Horticulture, and Composting)

By Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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