Majorly, the market is witnessing a leap owing to improved soil fertility, natural carbon sequestration feature of biochar, waste management potential, and increased government initiatives. Stringent environmental regulations also act as a major driver for the growth of the global biochar market.
The agricultural segment is witnessing a strong growth rate in the global biochar market, since biochar helps improve soil quality and crop yield. Chemical fertilizers are largely used in agriculture, which lead to decline in agricultural land per capita as well as in soil quality. To address this issue, biochar is remaining high in demand. As per the research, forestry waste is estimated to be the largest segment by feedstock. Also, it is expected to continue being the largest segment from 2015 – 2023.
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In terms of application, gardening is estimated to have accounted for the largest revenue, which is expected to register the highest CAGR in the near future. The need for improvement in soil texture and quality in North America is boosting the demand for biochar, which acts as a soil amendment.
Several factors are helping the biochar market to grow worldwide. However, the high cost of biochar acts as a major restraint for the market, uncovers the research. Farmers find it difficult to afford biochar for agricultural practices. This is expected to have a negative impact on the biochar market, especially in developing or underdeveloped economies.
GLOBAL BIOCHAR MARKET SEGMENTATION
- Agriculture Waste
- Forestry Waste
- Animal Manure
- Biomass Plantation
- Microwave Pyrolysis
- Batch Pyrolysis Kiln
- Continuous Pyrolysis
- Gasifier and Cookstove
By Manufacturing Process
- Fast and Intermediate Pyrolysis
- Slow Pyrolysis
- North America
- Rest of the World (RoW)