Industry Outlook and Trend Analysis
The Wood Vinegar Market was worth USD 3.76 million in 2014 and is expected to reach approximately USD 7.12 million by 2023, while registering itself at a compound annual growth rate (CAGR) of 7.34% during the forecast period. The demand for chemical free pesticides that upgrade the fertility of the soil and natural animal feed that are impervious to contamination is expanding all around. It is composed through economic strategies, can be used as natural pesticide and also animal fodder. It is proving to be a significant substitution for synthetic chemicals. Wood vinegar otherwise called pyroligneous acid, liquid smoke, mokusaku, is created using conventional techniques in a portion of the nations in Asia. The fluid separated from biomass through carbonization, contains in excess of 200 common mixes basically acidic acid, formaldehyde.
Method Outlook and Trend Analysis
On the basis of revenue, slow pyrolysis method is evaluated as the most favoured method by manufacturers. The segment represented 68.6% of the worldwide income share in 2016 and is foreseen to grow tremendously over the forecast period. Slow pyrolysis is customarily used as a part of biochar and charcoal production. The advantages of slow pyrolysis method are the adaptability in the use of feed stock in agricultural and bio refinery residues.
Application Outlook and Trend Analysis
Agriculture developed as the biggest application industry and represented 43.7% of the worldwide revenue share in 2016. It was trailed by animal feed as the second biggest fragment, on the basis of revenue. Wood vinegar, when applied to soil and blended in high concentrations, represses soil infections and eelworms. When pyroligneous acid is blended with agricultural chemicals, it expands the general viability. It upgrades the growth of more grounded pulls for plants, and crop yield.
Regional Outlook and Trend Analysis
Asia Pacific leads the worldwide market on the basis of income in 2016, and this pattern is anticipated to proceed over the gauge time frame. It was evaluated at USD 1,352.4 thousand in 2016 and is anticipated to develop substantially over the forecast period. The market in Asia Pacific locale is commanded by the convergence of expansive number of organic producers in Australia, China and India. In 2015, Australia has the biggest organic agricultural area, where as India has biggest number of organic producers, however holding little ranches.
The major players in the market are VerdiLife LLC, Taiko Pharmaceutical Co Ltd, Nettenergy, Vinegar Australia and Sort Of Coal. Applied Gaia Corporation commanded the global market. Competitive rivalry among organizations is medium as the leading manufacturers hold less than 30% share in the global market.
The Wood Vinegar Market is segmented as follows-
Food, Medicinal, and Consumer Products
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?