The global biochar market is estimated to project a CAGR of 11.34% in terms of volume during the estimated period, 2022-2030. Also, the global market is set to record a CAGR of 13.53% in terms of revenue. The easy availability of a vast and cheap variety of feedstock, stringent environment regulations, constant and reliable energy flow, and biochar’s ability to sequester carbon propel market growth.
Biochar is the end product obtained upon burning organic matter like agricultural waste, residential waste, and forest waste, and is rich in carbon. It aids in increasing the soil properties and carbon sequestering. With regard to carbon sequestering, carbon is captured and stored. Biochar can withhold carbon for longer durations. It enriches soil fertility, thereby stimulating plant growth. The energy thus generated during biochar production can be substituted for carbon-positive energy from fossil fuels. Biochar also aids in reducing greenhouse emissions. These aspects contribute to the global biochar market growth.
The transportation and application of biochar have resulted in its loss and hence needs extensive R&D activities to minimize the losses. The agriculture & feedstock category is the largest application with regard to revenue in 2021. Moreover, the lack of demonstration projects, tax rebates, incentives, biochar contamination and its feedstock, and high costs hinder the market growth.
The global biochar market growth analysis includes the geographical assessment of Asia-Pacific, Europe, North America, and Rest of World. North America is the largest revenue and volume generating region globally. This is attributed to the commercialization of production, application, and standardization of the biochar manufacturing facilities in the region.
The market has the presence of a large number of big industry players. Some of the eminent players in the market include Pacific Biochar, Agri-Tech Producers LLC, Biogreen-Energy, etc.
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